$XBIT
XBiotech Inc.

2020 Q2 Form 10-Q Financial Statement

#000117184320003601 Filed on May 11, 2020

View on sec.gov

Income Statement

Concept 2020 Q2 2020 Q1 2019 Q1
Revenue $15.50M $12.68M $0.00
YoY Change
Cost Of Revenue $13.20M $9.674M
YoY Change
Gross Profit $2.297M $3.007M
YoY Change
Gross Profit Margin 14.82% 23.71%
Selling, General & Admin $6.250M $4.020M $1.280M
YoY Change 377.1% 214.06% 10.34%
% of Gross Profit 272.09% 133.69%
Research & Development $2.565M $1.155M $4.527M
YoY Change -45.34% -74.49% 51.25%
% of Gross Profit 111.67% 38.41%
Depreciation & Amortization $540.0K $558.0K $602.0K
YoY Change -10.0% -7.31% 2.38%
% of Gross Profit 23.51% 18.56%
Operating Expenses $8.811M $5.178M $5.805M
YoY Change 46.7% -10.8% 39.88%
Operating Profit -$6.514M -$2.171M -$5.805M
YoY Change 8.46% -62.6% 39.88%
Interest Expense -$160.0K $1.810M -$70.00K
YoY Change -206.67% -2685.71% -187.5%
% of Operating Profit
Other Income/Expense, Net -$662.0K $1.805M -$59.00K
YoY Change -529.87% -3159.32% -172.84%
Pretax Income -$7.176M -$366.0K -$5.864M
YoY Change 22.62% -93.76% 44.08%
Income Tax -$332.0K -$352.0K $0.00
% Of Pretax Income
Net Earnings -$6.844M -$14.00K -$5.864M
YoY Change 16.95% -99.76% 44.11%
Net Earnings / Revenue -44.16% -0.11%
Basic Earnings Per Share -$0.16
Diluted Earnings Per Share -$237.0K -$276.50 -$0.16
COMMON SHARES
Basic Shares Outstanding 28.85M 28.85M 36.05M
Diluted Shares Outstanding

Balance Sheet

Concept 2020 Q2 2020 Q1 2019 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $229.7M $241.5M $12.00M
YoY Change 411.58% 1912.5% -57.75%
Cash & Equivalents $229.7M $241.5M $12.02M
Short-Term Investments
Other Short-Term Assets $3.000M $2.900M $1.000M
YoY Change 328.57% 190.0% -23.08%
Inventory
Prepaid Expenses
Receivables $20.68M $9.681M
Other Receivables $5.000M $3.800M
Total Short-Term Assets $258.4M $257.9M $12.98M
YoY Change 466.65% 1886.57% -56.36%
LONG-TERM ASSETS
Property, Plant & Equipment $24.88M $25.03M $26.84M
YoY Change -5.31% -6.74% -7.79%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $400.0K $400.0K
YoY Change
Total Long-Term Assets $100.4M $100.5M $26.84M
YoY Change 281.99% 274.33% -7.79%
TOTAL ASSETS
Total Short-Term Assets $258.4M $257.9M $12.98M
Total Long-Term Assets $100.4M $100.5M $26.84M
Total Assets $358.8M $358.4M $39.82M
YoY Change 399.15% 799.89% -32.34%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $5.240M $5.649M $1.861M
YoY Change 238.06% 203.55% 60.43%
Accrued Expenses $4.831M $1.371M $980.0K
YoY Change 429.71% 39.9% -23.08%
Deferred Revenue $0.00
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $14.14M $10.24M $2.841M
YoY Change 474.17% 260.26% 16.72%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00 $0.00
YoY Change
Other Long-Term Liabilities $1.100M $1.100M $0.00
YoY Change
Total Long-Term Liabilities $1.100M $1.100M $0.00
YoY Change
TOTAL LIABILITIES
Total Short-Term Liabilities $14.14M $10.24M $2.841M
Total Long-Term Liabilities $1.100M $1.100M $0.00
Total Liabilities $15.19M $11.29M $2.841M
YoY Change 517.06% 297.43% 15.96%
SHAREHOLDERS EQUITY
Retained Earnings $97.31M $104.2M -$243.6M
YoY Change -139.02% -142.76% 10.39%
Common Stock $246.4M $242.9M $280.7M
YoY Change -22.77% -13.44% 1.03%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $343.6M $347.1M $36.98M
YoY Change
Total Liabilities & Shareholders Equity $358.8M $358.4M $39.82M
YoY Change 399.15% 799.89% -32.34%

Cashflow Statement

Concept 2020 Q2 2020 Q1 2019 Q1
OPERATING ACTIVITIES
Net Income -$6.844M -$14.00K -$5.864M
YoY Change 16.95% -99.76% 44.11%
Depreciation, Depletion And Amortization $540.0K $558.0K $602.0K
YoY Change -10.0% -7.31% 2.38%
Cash From Operating Activities -$11.57M -$60.67M -$4.677M
YoY Change 138.07% 1197.26% 32.64%
INVESTING ACTIVITIES
Capital Expenditures -$430.0K $389.0K $6.000K
YoY Change 1333.33% 6383.33% -82.35%
Acquisitions
YoY Change
Other Investing Activities
YoY Change
Cash From Investing Activities -$430.0K -$389.0K -$6.000K
YoY Change 1333.33% 6383.33% -82.35%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $7.900M
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 280.0K -$412.1M 741.0K
YoY Change -99.26% -55711.61% 268.66%
NET CHANGE
Cash From Operating Activities -11.57M -$60.67M -4.677M
Cash From Investing Activities -430.0K -$389.0K -6.000K
Cash From Financing Activities 280.0K -$412.1M 741.0K
Net Change In Cash -11.72M -$473.1M -3.942M
YoY Change -135.5% 11900.36% 17.36%
FREE CASH FLOW
Cash From Operating Activities -$11.57M -$60.67M -$4.677M
Capital Expenditures -$430.0K $389.0K $6.000K
Free Cash Flow -$11.14M -$61.06M -$4.683M
YoY Change 130.64% 1203.91% 31.54%

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CY2019Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
6965730
CY2020Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
5670769
CY2019 us-gaap Stock Issued During Period Shares Stock Options Exercised
StockIssuedDuringPeriodSharesStockOptionsExercised
771000
CY2020Q1 us-gaap Stock Issued During Period Shares Stock Options Exercised
StockIssuedDuringPeriodSharesStockOptionsExercised
1333294
CY2020Q1 us-gaap Stock Issued During Period Value Share Based Compensation
StockIssuedDuringPeriodValueShareBasedCompensation
7918000
CY2019Q1 us-gaap Stock Issued During Period Value Share Based Compensation
StockIssuedDuringPeriodValueShareBasedCompensation
643000
CY2020Q1 us-gaap Stock Repurchase Program Authorized Amount1
StockRepurchaseProgramAuthorizedAmount1
420000000
CY2020Q1 us-gaap Stock Repurchased During Period Shares
StockRepurchasedDuringPeriodShares
14000000
CY2020Q1 us-gaap Stock Repurchased During Period Value
StockRepurchasedDuringPeriodValue
420000000
CY2019Q4 us-gaap Stockholders Equity
StockholdersEquity
755631000
CY2020Q1 us-gaap Stockholders Equity
StockholdersEquity
347082000
CY2018Q4 us-gaap Stockholders Equity
StockholdersEquity
41398000
CY2019Q1 us-gaap Stockholders Equity
StockholdersEquity
36983000
CY2020Q1 us-gaap Use Of Estimates
UseOfEstimates
<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; text-indent: 0.5in; margin: 0pt 0">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-indent: 0.5in">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></div></div></div></div></div></div></div></div>
CY2020Q1 us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
36169493
CY2019Q1 us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
35977422
CY2019Q1 xbit Adjustments To Additional Paid In Capital Collection Of Stock Subscription Receivable
AdjustmentsToAdditionalPaidInCapitalCollectionOfStockSubscriptionReceivable
200000
CY2019Q1 xbit Common Stock Share Subscribed Value Issuance
CommonStockShareSubscribedValueIssuance
-102000
CY2020Q1 xbit Deferred Cost Of Goods Sold
DeferredCostOfGoodsSold
1703000
CY2019Q4 xbit Deferred Cost Of Goods Sold
DeferredCostOfGoodsSold
CY2020Q1 xbit Escrow Receivable
EscrowReceivable
75000000
CY2019Q4 xbit Escrow Receivable
EscrowReceivable
75000000
CY2020Q1 xbit Increase Decrease In Deferred Cost Of Goods Sold
IncreaseDecreaseInDeferredCostOfGoodsSold
1703000
CY2019Q1 xbit Increase Decrease In Deferred Cost Of Goods Sold
IncreaseDecreaseInDeferredCostOfGoodsSold
CY2020Q1 xbit Percentage Of Outstanding Shares Repurchased
PercentageOfOutstandingSharesRepurchased
0.3267
CY2020Q1 xbit Proceeds From Payments For Repurchase Of Common Stock And Warrants Net
ProceedsFromPaymentsForRepurchaseOfCommonStockAndWarrantsNet
-420000000
CY2019Q1 xbit Proceeds From Payments For Repurchase Of Common Stock And Warrants Net
ProceedsFromPaymentsForRepurchaseOfCommonStockAndWarrantsNet
541000
CY2020Q1 xbit Shares Buyback Equity Impact Amount
SharesBuybackEquityImpactAmount
-420000000
CY2020Q1 xbit Stock Repurchased During Period Price Per Share
StockRepurchasedDuringPeriodPricePerShare
30
CY2020Q1 xbit Subscription Receivable
SubscriptionReceivable
CY2019Q1 xbit Subscription Receivable
SubscriptionReceivable
102000

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