$XNCR
Xencor Inc

2022 Q3 Form 10-Q Financial Statement

#000155837022011923 Filed on August 03, 2022

View on sec.gov

Income Statement

Concept 2022 Q3 2022 Q2 2022 Q1
Revenue $27.30M $30.20M $85.50M
YoY Change 38.58% -55.19% 151.47%
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin $12.37M $11.09M $11.27M
YoY Change 19.29% 25.14% 37.48%
% of Gross Profit
Research & Development $53.27M $47.08M $47.76M
YoY Change 5.26% -4.88% 15.32%
% of Gross Profit
Depreciation & Amortization $2.238M $2.224M $2.178M
YoY Change 12.29% 24.18% 32.97%
% of Gross Profit
Operating Expenses $65.65M $58.18M $59.03M
YoY Change 7.65% -0.32% 18.92%
Operating Profit -$38.35M -$28.00M $26.47M
YoY Change -7.15% -408.13% -268.87%
Interest Expense $6.678M -$5.828M -$2.776M
YoY Change 292.36% -113.5% -1488.0%
% of Operating Profit -10.49%
Other Income/Expense, Net $6.677M -$5.975M -$2.872M
YoY Change 502.07% -113.84% -121.78%
Pretax Income -$31.67M -$33.98M $23.59M
YoY Change -21.2% -165.03% -1043.76%
Income Tax $1.100M $0.00 $0.00
% Of Pretax Income 0.0%
Net Earnings -$32.76M -$33.98M $23.59M
YoY Change -18.49% -165.03% -1048.69%
Net Earnings / Revenue -120.0% -112.5% 27.6%
Basic Earnings Per Share -$0.55 -$0.57 $0.40
Diluted Earnings Per Share -$0.55 -$0.57 $0.39
COMMON SHARES
Basic Shares Outstanding 59.70M 59.57M 59.41M
Diluted Shares Outstanding 59.72M 59.57M 61.08M

Balance Sheet

Concept 2022 Q3 2022 Q2 2022 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $600.2M $511.9M $389.8M
YoY Change 108.27% 13.75% -29.39%
Cash & Equivalents $52.65M $49.41M $78.27M
Short-Term Investments $547.6M $462.5M $311.5M
Other Short-Term Assets $22.89M $19.73M $23.01M
YoY Change 9.59% 26.55% 62.05%
Inventory
Prepaid Expenses
Receivables $44.88M $54.28M $88.20M
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $668.0M $585.9M $506.0M
YoY Change 102.65% 21.82% -14.41%
LONG-TERM ASSETS
Property, Plant & Equipment $51.04M $38.86M $28.41M
YoY Change 111.09% 67.97% 27.4%
Goodwill
YoY Change
Intangibles $18.09M $17.94M $16.71M
YoY Change 8.51% 9.52% 7.47%
Long-Term Investments $72.84M $171.5M $270.3M
YoY Change -75.17% 0.45% 407.12%
Other Assets $613.0K $613.0K $613.0K
YoY Change -98.17% -85.92% -94.12%
Total Long-Term Assets $167.3M $265.4M $352.0M
YoY Change -54.5% 23.65% 246.52%
TOTAL ASSETS
Total Short-Term Assets $668.0M $585.9M $506.0M
Total Long-Term Assets $167.3M $265.4M $352.0M
Total Assets $835.3M $851.3M $857.9M
YoY Change 19.79% 22.39% 23.85%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $14.62M $15.75M $11.91M
YoY Change 60.09% 121.41% 55.36%
Accrued Expenses $19.29M $16.35M $12.61M
YoY Change -12.75% -5.66% 0.79%
Deferred Revenue $35.19M $35.30M $35.49M
YoY Change 171.71% 83.85% -54.4%
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $90.03M $75.04M $60.94M
YoY Change 103.15% 63.27% -39.02%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00 $0.00
YoY Change
Other Long-Term Liabilities $22.54M $33.94M $33.96M
YoY Change -33.88% 1156.22% 269.11%
Total Long-Term Liabilities $22.54M $33.94M $33.96M
YoY Change -33.88% 1156.22% 269.11%
TOTAL LIABILITIES
Total Short-Term Liabilities $90.03M $75.04M $60.94M
Total Long-Term Liabilities $22.54M $33.94M $33.96M
Total Liabilities $112.6M $109.0M $94.90M
YoY Change 43.58% 123.95% -13.04%
SHAREHOLDERS EQUITY
Retained Earnings -$326.2M -$293.5M -$259.5M
YoY Change -8.4% -7.12% -29.52%
Common Stock $598.0K $598.0K $596.0K
YoY Change 2.22% 2.4% 2.23%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $722.7M $742.3M $763.0M
YoY Change
Total Liabilities & Shareholders Equity $835.3M $851.3M $857.9M
YoY Change 19.79% 22.39% 23.85%

Cashflow Statement

Concept 2022 Q3 2022 Q2 2022 Q1
OPERATING ACTIVITIES
Net Income -$32.76M -$33.98M $23.59M
YoY Change -18.49% -165.03% -1048.69%
Depreciation, Depletion And Amortization $2.238M $2.224M $2.178M
YoY Change 12.29% 24.18% 32.97%
Cash From Operating Activities -$1.168M $44.27M $5.815M
YoY Change -97.01% -560.18% -119.41%
INVESTING ACTIVITIES
Capital Expenditures -$14.87M -$14.65M $2.089M
YoY Change 294.4% 311.61% 7.07%
Acquisitions
YoY Change
Other Investing Activities $17.99M -$60.99M -$68.76M
YoY Change -151.28% 22.47% -271.48%
Cash From Investing Activities $3.125M -$75.64M -$71.76M
YoY Change -108.04% 42.02% -288.6%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 1.287M 2.513M 731.0K
YoY Change -60.14% 33.74% -86.31%
NET CHANGE
Cash From Operating Activities -1.168M 44.27M 5.815M
Cash From Investing Activities 3.125M -75.64M -71.76M
Cash From Financing Activities 1.287M 2.513M 731.0K
Net Change In Cash 3.244M -28.86M -65.21M
YoY Change -104.35% -52.69% -585.9%
FREE CASH FLOW
Cash From Operating Activities -$1.168M $44.27M $5.815M
Capital Expenditures -$14.87M -$14.65M $2.089M
Free Cash Flow $13.70M $58.91M $3.726M
YoY Change -138.85% -1071.86% -111.67%

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<p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt 0pt 12pt 0pt;"><span style="font-style:italic;font-weight:bold;">Use of Estimates</span></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-indent:36pt;margin:0pt 0pt 12pt 0pt;">The preparation of interim financial statements in conformity with GAAP requires management to make certain estimates and assumptions that affect the reported amounts of assets, liabilities, revenues and expenses, other comprehensive gain (loss) and the related disclosures. On an ongoing basis, management evaluates its estimates, including estimates related to its accrued clinical trial and manufacturing development expenses, stock-based compensation expense, evaluation of intangible assets, investments, leases and other assets for evidence of impairment, fair value measurements, and contingencies. Significant estimates in these interim financial statements include estimates made for royalty revenue, accrued research and development expenses, stock-based compensation expenses, intangible assets, incremental borrowing rate for right-of-use asset and lease liability, estimated standalone selling price of performance obligations, estimated time for completing delivery of performance obligations under certain arrangements, the likelihood of recognizing variable consideration, the carrying value of equity instruments without a readily determinable fair value, and recoverability of deferred tax assets.</p>
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