$XBIT
XBiotech Inc

2015 Q4 Form 10-K Financial Statement

#000117184317001571 Filed on March 16, 2017

View on sec.gov

Income Statement

Concept 2015 Q4 2014 Q4 2014
Revenue $0.00 $0.00 $0.00
YoY Change
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin $1.660M $1.010M $7.450M
YoY Change 64.36% 531.25% 274.37%
% of Gross Profit
Research & Development $10.41M $4.910M $14.33M
YoY Change 112.02% 110.73% 80.58%
% of Gross Profit
Depreciation & Amortization $190.0K $230.0K $664.0K
YoY Change -17.39% 53.33% -15.31%
% of Gross Profit
Operating Expenses $12.07M $5.920M $21.78M
YoY Change 103.89% 137.75% 119.43%
Operating Profit -$21.78M
YoY Change 119.43%
Interest Expense $160.0K $30.00K $50.00K
YoY Change 433.33%
% of Operating Profit
Other Income/Expense, Net $20.00K $54.00K
YoY Change -2800.0%
Pretax Income -$11.89M -$5.890M -$3.494M
YoY Change 101.87% 136.55% -64.81%
Income Tax $0.00 $0.00
% Of Pretax Income
Net Earnings -$11.89M -$5.890M -$21.72M
YoY Change 101.87% 136.55% 118.84%
Net Earnings / Revenue
Basic Earnings Per Share
Diluted Earnings Per Share -$369.5K -$185.7K -$684.7K
COMMON SHARES
Basic Shares Outstanding
Diluted Shares Outstanding

Balance Sheet

Concept 2015 Q4 2014 Q4 2014
SHORT-TERM ASSETS
Cash & Short-Term Investments $91.10M $57.30M $57.30M
YoY Change 58.99% 695.83% 695.83%
Cash & Equivalents $91.05M $57.33M $57.30M
Short-Term Investments
Other Short-Term Assets $2.000M $700.0K $700.0K
YoY Change 185.71% 75.0% 75.0%
Inventory
Prepaid Expenses
Receivables
Other Receivables
Total Short-Term Assets $93.04M $58.06M $58.10M
YoY Change 60.24% 654.08% 654.55%
LONG-TERM ASSETS
Property, Plant & Equipment $5.946M $3.227M $4.100M
YoY Change 84.26% -5.09% 20.59%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets
YoY Change
Total Long-Term Assets $16.32M $4.113M $4.100M
YoY Change 296.72% 20.97% 20.59%
TOTAL ASSETS
Total Short-Term Assets $93.04M $58.06M $58.10M
Total Long-Term Assets $16.32M $4.113M $4.100M
Total Assets $109.4M $62.18M $62.20M
YoY Change 75.88% 460.15% 460.36%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $4.825M $1.629M $1.600M
YoY Change 196.19% 171.5% 166.67%
Accrued Expenses $1.466M $1.518M $1.500M
YoY Change -3.43% 406.0% 400.0%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $6.291M $3.147M $3.100M
YoY Change 99.9% 293.38% 287.5%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00 $0.00
YoY Change
Other Long-Term Liabilities $0.00
YoY Change
Total Long-Term Liabilities $0.00 $0.00 $0.00
YoY Change
TOTAL LIABILITIES
Total Short-Term Liabilities $6.291M $3.147M $3.100M
Total Long-Term Liabilities $0.00 $0.00 $0.00
Total Liabilities $6.308M $3.147M $3.100M
YoY Change 100.44% 293.38% 287.5%
SHAREHOLDERS EQUITY
Retained Earnings -$130.7M -$93.17M
YoY Change 40.23%
Common Stock $233.9M $152.4M
YoY Change 53.53%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $103.1M $59.03M $59.00M
YoY Change
Total Liabilities & Shareholders Equity $109.4M $62.18M $62.20M
YoY Change 75.88% 460.15% 460.36%

Cashflow Statement

Concept 2015 Q4 2014 Q4 2014
OPERATING ACTIVITIES
Net Income -$11.89M -$5.890M -$21.72M
YoY Change 101.87% 136.55% 118.84%
Depreciation, Depletion And Amortization $190.0K $230.0K $664.0K
YoY Change -17.39% 53.33% -15.31%
Cash From Operating Activities -$10.70M -$3.450M -$11.70M
YoY Change 210.14% 48.07% 31.34%
INVESTING ACTIVITIES
Capital Expenditures -$3.740M -$550.0K $1.397M
YoY Change 580.0% 1000.0% 2267.8%
Acquisitions
YoY Change
Other Investing Activities
YoY Change
Cash From Investing Activities -$3.740M -$550.0K -$1.397M
YoY Change 580.0% 1000.0% 2267.8%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $44.80M
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 0.000 45.85M 63.20M
YoY Change -100.0% 424.7%
NET CHANGE
Cash From Operating Activities -10.70M -3.450M -11.70M
Cash From Investing Activities -3.740M -550.0K -1.397M
Cash From Financing Activities 0.000 45.85M 63.20M
Net Change In Cash -14.44M 41.85M 50.10M
YoY Change -134.5% -1858.4% 1527.78%
FREE CASH FLOW
Cash From Operating Activities -$10.70M -$3.450M -$11.70M
Capital Expenditures -$3.740M -$550.0K $1.397M
Free Cash Flow -$6.960M -$2.900M -$13.10M
YoY Change 140.0% 27.19% 46.06%

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<div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style=" font-size: 10pt; margin: 0pt 0"><div style="display: inline; font-weight: bold;">Use of Estimates </div></div> <div style=" font-size: 10pt; margin: 0pt 0">&nbsp;</div> <div style=" font-size: 10pt; text-indent: 0.5in; margin: 0pt 0"></div> <div style=" font-size: 10pt; text-indent: 0.5in; margin: 0pt 0">The preparation of financial statements in accordance with accounting principles generally accepted in the U.S. requires management to make estimates and assumptions that affect the reported values of amounts in the financial statements and accompanying notes. Actual results could differ from those estimates.</div> <div style=" font-size: 10pt; text-indent: 0.5in; margin: 0pt 0"></div> <div style=" font-size: 10pt; text-indent: 0.5in; margin: 0pt 0">&nbsp;</div> <div style=" font-size: 10pt; text-indent: 0.5in; margin: 0pt 0">Prior to its initial public offering on <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"> April</div> <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">15,</div> <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2015,</div> the Company utilized significant estimates and assumptions in determining the fair value of its common stock. The board of directors determined the estimated fair value of the Company&#x2019;s common stock based on a number of objective and subjective factors, including the prices at which the Company sold shares of its common stock to <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">third</div> parties and external market conditions affecting the biotechnology industry sector. After the initial public offering, the fair market value is calculated by using the closing price of the Company&#x2019;s common stock as reported by NASDAQ.</div></div></div></div></div></div></div></div></div></div></div></div></div></div>
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