Translate Bio (TBIO) annual cash flow statement covering fiscal 2017 through 2020, as reported to the SEC.
A cash flow statement shows the cash that actually came in and went out, split between running the business, investing and financing.
| Dec'20 | Dec'19 | Dec'18 | Dec'17 | ||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Cash flows from operating activities: | |||||||||||||||||||
Net income (loss) | |||||||||||||||||||
-53,787 | -113,293 | -97,395 | -66,443 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Net income (loss) | -53,787 | -113,293 | -97,395 | -66,443 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities: | |||||||||||||||||||
Depreciation and amortization expense | |||||||||||||||||||
9,270 | 4,732 | 2,841 | 1,585 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Depreciation and amortization expense | 9,270 | 4,732 | 2,841 | 1,585 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Stock-based compensation expense | |||||||||||||||||||
17,620 | 11,334 | 7,333 | 3,680 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Stock-based compensation expense | 17,620 | 11,334 | 7,333 | 3,680 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Impairment of intangible asset | |||||||||||||||||||
- | 18,559 | - | - | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Impairment of intangible asset | - | 18,559 | - | - | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Change in fair value of contingent consideration | |||||||||||||||||||
48,575 | 13 | 25,020 | 17,914 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Change in fair value of contingent consideration | 48,575 | 13 | 25,020 | 17,914 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Deferred income tax benefit | |||||||||||||||||||
- | -486 | -5,565 | -12,481 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Deferred income tax benefit | - | -486 | -5,565 | -12,481 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Accretion of discount on short-term investments | |||||||||||||||||||
- | - | - | 72 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Accretion of discount on short-term investments | - | - | - | 72 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Changes in operating assets and liabilities: | |||||||||||||||||||
Collaboration receivables | |||||||||||||||||||
-22,002 | -3,763 | -833 | - | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Collaboration receivables | -22,002 | -3,763 | -833 | - | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Prepaid expenses and other assets | |||||||||||||||||||
6,278 | 5,743 | 1,346 | 2,262 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Prepaid expenses and other assets | 6,278 | 5,743 | 1,346 | 2,262 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Right-of-use assets | |||||||||||||||||||
-4,315 | -484 | - | - | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Right-of-use assets | -4,315 | -484 | - | - | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Long-term prepaid rent | |||||||||||||||||||
10,058 | 2,752 | - | - | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Long-term prepaid rent | 10,058 | 2,752 | - | - | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Accounts payable | |||||||||||||||||||
-6,572 | 9,928 | 658 | 4,025 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Accounts payable | -6,572 | 9,928 | 658 | 4,025 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Accrued expenses | |||||||||||||||||||
6,358 | 257 | 2,271 | 2,312 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Accrued expenses | 6,358 | 257 | 2,271 | 2,312 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Deferred revenue | |||||||||||||||||||
252,866 | -1,057 | 44,413 | - | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Deferred revenue | 252,866 | -1,057 | 44,413 | - | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Deferred rent | |||||||||||||||||||
- | - | 470 | 954 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Deferred rent | - | - | 470 | 954 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Lease liability | |||||||||||||||||||
-3,991 | -375 | - | - | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Lease liability | -3,991 | -375 | - | - | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Net cash provided by (used in) operating activities | |||||||||||||||||||
236,316 | -82,162 | -22,133 | -50,788 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Net cash provided by (used in) operating activities | 236,316 | -82,162 | -22,133 | -50,788 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Cash flows from investing activities: | |||||||||||||||||||
Purchases of investments | |||||||||||||||||||
339,410 | 174,271 | 136,694 | 70,767 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Purchases of investments | 339,410 | 174,271 | 136,694 | 70,767 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Sales and maturities of investments | |||||||||||||||||||
130,765 | 159,622 | 57,984 | 73,840 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Sales and maturities of investments | 130,765 | 159,622 | 57,984 | 73,840 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Purchases of property and equipment | |||||||||||||||||||
6,477 | 3,537 | 6,580 | 2,769 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Purchases of property and equipment | 6,477 | 3,537 | 6,580 | 2,769 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Net cash provided by (used in) investing activities | |||||||||||||||||||
-215,122 | -18,186 | -85,290 | 304 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Net cash provided by (used in) investing activities | -215,122 | -18,186 | -85,290 | 304 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Cash flows from financing activities: | |||||||||||||||||||
Proceeds from Securities Purchase Agreement | |||||||||||||||||||
73,754 | - | - | - | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Proceeds from Securities Purchase Agreement | 73,754 | - | - | - | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Proceeds from private placement, net of placement agent fees | |||||||||||||||||||
- | 44,608 | - | - | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Proceeds from private placement, net of placement agent fees | - | 44,608 | - | - | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Payments of private placement offering costs | |||||||||||||||||||
- | 477 | - | - | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Payments of private placement offering costs | - | 477 | - | - | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Proceeds from issuance of Series C redeemable convertible preferred stock, net of issuance costs | |||||||||||||||||||
- | - | - | 41,900 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Proceeds from issuance of Series C redeemable convertible preferred stock, net of issuance costs | - | - | - | 41,900 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Proceeds from public offerings, net of underwriting discounts and commissions | |||||||||||||||||||
- | - | 117,447 | - | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Proceeds from public offerings, net of underwriting discounts and commissions | - | - | 117,447 | - | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Proceeds from public offerings, net of underwriting discounts and commissions | |||||||||||||||||||
154,292 | 84,600 | - | - | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Proceeds from public offerings, net of underwriting discounts and commissions | 154,292 | 84,600 | - | - | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Payments of public offering costs | |||||||||||||||||||
681 | 589 | - | - | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Payments of public offering costs | 681 | 589 | - | - | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Payments of initial public offering costs | |||||||||||||||||||
- | - | 4,102 | 153 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Payments of initial public offering costs | - | - | 4,102 | 153 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Proceeds from option exercises | |||||||||||||||||||
12,398 | 1,512 | 278 | - | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Proceeds from option exercises | 12,398 | 1,512 | 278 | - | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Proceeds from issuance of common stock under employee stock purchase plan | |||||||||||||||||||
366 | - | - | - | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Proceeds from issuance of common stock under employee stock purchase plan | 366 | - | - | - | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Net cash provided by financing activities | |||||||||||||||||||
240,129 | 129,654 | 113,623 | 41,747 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Net cash provided by financing activities | 240,129 | 129,654 | 113,623 | 41,747 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Net increase (decrease) in cash, cash equivalents and restricted cash: | |||||||||||||||||||
261,323 | 29,306 | 6,200 | -8,737 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Net increase (decrease) in cash, cash equivalents and restricted cash: | 261,323 | 29,306 | 6,200 | -8,737 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Supplemental disclosure of non-cash investing and financing activities: | |||||||||||||||||||
Purchases of property and equipment included in accounts payable and accrued expenses | |||||||||||||||||||
406 | 1,189 | 49 | 687 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Purchases of property and equipment included in accounts payable and accrued expenses | 406 | 1,189 | 49 | 687 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Deferred offering costs included in accounts payable and accrued expenses | |||||||||||||||||||
- | - | - | 358 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Deferred offering costs included in accounts payable and accrued expenses | - | - | - | 358 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Issuance of common stock in connection with a former employee letter agreement | |||||||||||||||||||
- | 847 | - | - | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Issuance of common stock in connection with a former employee letter agreement | - | 847 | - | - | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Issuance of common stock as settlement of contingent consideration liability | |||||||||||||||||||
- | - | 2,387 | - | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Issuance of common stock as settlement of contingent consideration liability | - | - | 2,387 | - | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Accretion of redeemable convertible preferred stock to redemption value | |||||||||||||||||||
- | - | 644 | 719 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Accretion of redeemable convertible preferred stock to redemption value | - | - | 644 | 719 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||