$XBIT
XBiotech Inc

2024 Q3 Form 10-Q Financial Statement

#000117184324004689 Filed on August 12, 2024

View on sec.gov

Income Statement

Concept 2024 Q3 2024 Q2
Revenue
YoY Change
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin
YoY Change
% of Gross Profit
Research & Development $7.127M $12.98M
YoY Change -5.57% 15.25%
% of Gross Profit
Depreciation & Amortization $435.0K
YoY Change -1.14%
% of Gross Profit
Operating Expenses $7.904M $14.97M
YoY Change -7.23% 12.88%
Operating Profit -$7.904M -$14.97M
YoY Change -7.23% 12.88%
Interest Expense -$203.0K
YoY Change -113.9%
% of Operating Profit
Other Income/Expense, Net $2.898M $1.935M
YoY Change 97.95% -57.82%
Pretax Income -$5.006M -$13.03M
YoY Change -29.05% 50.28%
Income Tax $9.000K -$25.00K
% Of Pretax Income
Net Earnings -$5.015M -$13.01M
YoY Change -31.9% 48.78%
Net Earnings / Revenue
Basic Earnings Per Share -$0.16 -$0.43
Diluted Earnings Per Share
COMMON SHARES
Basic Shares Outstanding 30.46M 30.46M
Diluted Shares Outstanding

Balance Sheet

Concept 2024 Q3 2024 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $188.5M
YoY Change -7.94%
Cash & Equivalents $183.1M $188.5M
Short-Term Investments
Other Short-Term Assets $1.116M
YoY Change 24.0%
Inventory
Prepaid Expenses
Receivables $730.0K $870.0K
Other Receivables $123.0K
Total Short-Term Assets $185.0M $190.6M
YoY Change -9.48% -9.01%
LONG-TERM ASSETS
Property, Plant & Equipment $24.82M $24.92M
YoY Change -1.51% -2.76%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets
YoY Change
Total Long-Term Assets $24.82M $24.92M
YoY Change -1.51% -2.76%
TOTAL ASSETS
Total Short-Term Assets $185.0M $190.6M
Total Long-Term Assets $24.82M $24.92M
Total Assets $209.9M $215.6M
YoY Change -8.6% -8.33%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $1.506M $1.704M
YoY Change 2.59% -6.17%
Accrued Expenses $4.486M $5.348M
YoY Change 22.33% 103.04%
Deferred Revenue
YoY Change
Short-Term Debt $10.00M
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $15.99M $17.14M
YoY Change 202.08% 285.06%
LONG-TERM LIABILITIES
Long-Term Debt $0.00
YoY Change
Other Long-Term Liabilities $1.719M
YoY Change 7.44%
Total Long-Term Liabilities $1.719M
YoY Change 7.44%
TOTAL LIABILITIES
Total Short-Term Liabilities $15.99M $17.14M
Total Long-Term Liabilities $1.719M
Total Liabilities $17.74M $18.85M
YoY Change 155.56% 210.46%
SHAREHOLDERS EQUITY
Retained Earnings -$80.33M -$75.31M
YoY Change 68.51% 86.85%
Common Stock $272.4M $272.0M
YoY Change 0.95% 1.15%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $192.1M $196.7M
YoY Change
Total Liabilities & Shareholders Equity $209.9M $215.6M
YoY Change -8.6% -8.33%

Cashflow Statement

Concept 2024 Q3 2024 Q2
OPERATING ACTIVITIES
Net Income -$5.015M -$13.01M
YoY Change -31.9% 48.78%
Depreciation, Depletion And Amortization $435.0K
YoY Change -1.14%
Cash From Operating Activities -$11.38M
YoY Change 26.4%
INVESTING ACTIVITIES
Capital Expenditures $627.0K
YoY Change 213.5%
Acquisitions
YoY Change
Other Investing Activities
YoY Change
Cash From Investing Activities -$627.0K
YoY Change 213.5%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 48.00K
YoY Change -580.0%
NET CHANGE
Cash From Operating Activities -11.38M
Cash From Investing Activities -627.0K
Cash From Financing Activities 48.00K
Net Change In Cash -11.96M
YoY Change 29.8%
FREE CASH FLOW
Cash From Operating Activities -$11.38M
Capital Expenditures $627.0K
Free Cash Flow -$12.00M
YoY Change 30.47%

Facts In Submission

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us-gaap Use Of Estimates
UseOfEstimates
<p style="font-family: &quot;Times New Roman&quot;; font-size: 10pt; font-variant: normal; margin: 0pt 0pt 0pt 9pt;"><b>Use of Estimates </b></p> <p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;"> </p> <p style="font-family: &quot;Times New Roman&quot;; font-size: 10pt; font-variant: normal; margin: 0pt 0pt 0pt 9pt; text-indent: 36pt;">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.</p>
CY2024Q2 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
379000 usd
CY2023Q2 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
914000 usd
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
760000 usd
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
1619000 usd
CY2023Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate
0.81 pure
CY2024Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue
3.84
CY2023Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue
6
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue
3.85
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue
4.11
us-gaap Concentration Risk Credit Risk
ConcentrationRiskCreditRisk
<p style="font-family: &quot;Times New Roman&quot;; font-size: 10pt; font-variant: normal; margin: 0pt 0pt 0pt 9pt;"><b>Concentrations of Credit Risk </b></p> <p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;"> </p> <p style="font-family: &quot;Times New Roman&quot;; font-size: 10pt; font-variant: normal; margin: 0pt 0pt 0pt 9pt; text-indent: 36pt;">Financial instruments that potentially subject the Company to credit risk consist primarily of cash and cash equivalents. The Company holds these investments in highly-rated financial institutions, and limits the amounts of credit exposure to any one financial institution. These amounts at times may exceed federally insured limits. The Company has not experienced any credit losses in such accounts and does not believe it is exposed to any significant credit risk on these funds. The Company has no off-balance sheet concentrations of credit risk, such as foreign currency exchange contracts, option contracts or other hedging arrangements.</p> <p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;"> </p>
us-gaap Foreign Currency Transaction Gain Loss Before Tax
ForeignCurrencyTransactionGainLossBeforeTax
-2100000 usd
CY2024Q2 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
24916000 usd
CY2023Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
24897000 usd
CY2023Q2 xbit Treasury Stock Shares Offered To Be Purchased Value
TreasuryStockSharesOfferedToBePurchasedValue
80000000 usd
CY2023Q2 us-gaap Stock Repurchased And Retired During Period Shares
StockRepurchasedAndRetiredDuringPeriodShares
3561
CY2023Q2 xbit Stock Repurchased During Period Price Per Share
StockRepurchasedDuringPeriodPricePerShare
4
CY2023Q2 us-gaap Stock Repurchased And Retired During Period Value
StockRepurchasedAndRetiredDuringPeriodValue
14000 usd
CY2023 us-gaap Stock Issued During Period Shares Stock Options Exercised
StockIssuedDuringPeriodSharesStockOptionsExercised
1250
CY2023Q4 us-gaap Shares Issued Price Per Share
SharesIssuedPricePerShare
3.84
CY2023 us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
4800000 usd
us-gaap Stock Issued During Period Shares Stock Options Exercised
StockIssuedDuringPeriodSharesStockOptionsExercised
26192
us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
103000 usd
CY2023Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
5039518
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross
205000
xbit Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercises In Period Net
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisesInPeriodNet
26192
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresInPeriod
619750
CY2024Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
4598576
CY2022Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
4558902
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross
800600
xbit Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercises In Period Net
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisesInPeriodNet
-0
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresInPeriod
286084
CY2023Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
5073418
CY2024Q2 us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized Stock Options
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedStockOptions
1400000 usd
CY2024Q2 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.002 pure
CY2023Q2 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.008 pure
us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0 pure
us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.003 pure

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