Orchard Therapeutics (ORTX) Quarterly Income Statement

Income Statement Summary

Orchard Therapeutics (ORTX) quarterly income statement covering the six quarters from June 2022 to September 2023, as reported to the SEC.

Orchard Therapeutics reported total revenue of $6.3M in the quarter ended September 30, 2023, up 9.1% from $5.78M a year earlier.
That is 13.8% lower than the June 2023 quarter.
Loss from operations was $21.61M, a smaller loss than the $25.47M a year earlier. Operating margin was -342.8%.
Net loss was $35.32M, a smaller loss than the $47.56M a year earlier. Net margin was -560.4%.
Diluted earnings per share was -$0.15, a smaller loss than the $0.37 a year earlier.
Cost of product revenue took 27.7% of total revenue, research and development 230.9% and selling, general and administrative 184.2%.

An income statement shows what a company sold and what it cost to run the business, ending with the profit left over.

Figures in USD thousands, except per share data

						Sep'23	Jun'23	Mar'23	Dec'22	Sep'22	Jun'22
Total revenue
6,302	7,314	1,237	6,986	5,777	4,368	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Total revenue						6,302	7,314	1,237	6,986	5,777	4,368	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Costs and operating expenses:
Cost of product revenue
1,745	2,189	367	2,433	1,645	1,122	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Cost of product revenue						1,745	2,189	367	2,433	1,645	1,122	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Research and development
14,553	16,695	15,993	25,545	18,103	21,965	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Research and development						14,553	16,695	15,993	25,545	18,103	21,965	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Selling, general and administrative
11,609	10,992	11,135	10,600	11,496	13,730	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Selling, general and administrative						11,609	10,992	11,135	10,600	11,496	13,730	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Total costs and operating expenses
27,907	29,876	27,495	38,578	31,244	36,817	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Total costs and operating expenses						27,907	29,876	27,495	38,578	31,244	36,817	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Loss from operations
-21,605	-22,562	-26,258	-31,592	-25,467	-32,449	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Loss from operations						-21,605	-22,562	-26,258	-31,592	-25,467	-32,449	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Other income (expense):
Interest income
1,505	1,391	1,029	857	404	213	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Interest income						1,505	1,391	1,029	857	404	213	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Interest expense
932	975	957	933	799	672	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Interest expense						932	975	957	933	799	672	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Changes in fair value of PIPE Warrant and PIPE Unit liabilities
-8,801	8,206	3,852	-	-	-	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Changes in fair value of PIPE Warrant and PIPE Unit liabilities						-8,801	8,206	3,852	-	-	-	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Other income (expense), net
-4,510	1,658	4,910	22,656	-22,787	-18,227	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Other income (expense), net						-4,510	1,658	4,910	22,656	-22,787	-18,227	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Total other income (expense), net
-12,738	10,280	8,834	22,580	-23,182	-18,686	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Total other income (expense), net						-12,738	10,280	8,834	22,580	-23,182	-18,686	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Net loss before income taxes
-34,343	-12,282	-17,424	-9,012	-48,649	-51,135	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Net loss before income taxes						-34,343	-12,282	-17,424	-9,012	-48,649	-51,135	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Income tax benefit (expense)
1,000	25	-12	-1,113	-1,100	-219	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Income tax benefit (expense)						1,000	25	-12	-1,113	-1,100	-219	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Net loss
-35,319	-12,307	-17,412	-7,883	-47,565	-50,916	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Net loss						-35,319	-12,307	-17,412	-7,883	-47,565	-50,916	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Net loss per ordinary share , basic
-0.15	-0.07	-0.12	-0.06	-0.37	-0.40	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Net loss per ordinary share , basic						-0.15	-0.07	-0.12	-0.06	-0.37	-0.40	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Net loss per ordinary share , diluted
-0.15	-0.07	-0.12	-0.06	-0.37	-0.40	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Net loss per ordinary share , diluted						-0.15	-0.07	-0.12	-0.06	-0.37	-0.40	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Weighted average ordinary shares outstanding, basic
228,388,561	189,286	141,809	-127,875,741	128,132,092	127,854	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Weighted average ordinary shares outstanding, basic						228,388,561	189,286	141,809	-127,875,741	128,132,092	127,854	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Weighted average ordinary shares outstanding, diluted
228,388,561	189,286	141,809	-127,875,741	128,132,092	127,854	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Weighted average ordinary shares outstanding, diluted						228,388,561	189,286	141,809	-127,875,741	128,132,092	127,854	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Net loss per share attributable to ordinary shareholders, basic and diluted
-	-	-	-	-	-	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Net loss per share attributable to ordinary shareholders, basic and diluted						-	-	-	-	-	-	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Weighted average ordinary shares outstanding, basic and diluted
-	-	-	-	-	-	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Weighted average ordinary shares outstanding, basic and diluted						-	-	-	-	-	-	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Other comprehensive income:
Foreign currency translation adjustment
3,978	-1,770	-5,731	-21,666	21,459	17,450	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Foreign currency translation adjustment						3,978	-1,770	-5,731	-21,666	21,459	17,450	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Unrealized gain (loss) on marketable securities
79	-39	74	111	84	-1	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Unrealized gain (loss) on marketable securities						79	-39	74	111	84	-1	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Total other comprehensive income (loss)
4,057	-1,809	-5,657	-21,555	21,543	17,449	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Total other comprehensive income (loss)						4,057	-1,809	-5,657	-21,555	21,543	17,449	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Total comprehensive loss
-31,262	-14,116	-23,069	-29,438	-26,022	-33,467	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Total comprehensive loss						-31,262	-14,116	-23,069	-29,438	-26,022	-33,467	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Product Revenue, Net [Member]
Total revenue
5,559	6,651	534	6,393	5,377	3,781	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Total revenue						5,559	6,651	534	6,393	5,377	3,781	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Collaboration Revenue [Member]
Total revenue
743	663	703	593	400	587	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Total revenue						743	663	703	593	400	587	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx