NOVN · Novan, Inc. - Financials
Annual line items from SEC XBRL filings, sourced from EDGAR's Company Facts API with fallback to the quarterly Financial Statement Data Sets. See issuer overview for Form 4 activity and 10-K signals.
Income Statement
| Line item | Q1 '23 | Q4 '22 | Q3 '22 | Q2 '22 | Q1 '22 | Q4 '21 | Q3 '21 | Q2 '21 | Q1 '21 | Q4 '20 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $3.17M | - | $5.12M | $6.16M | $1.93M | - | $737.0K | $747.0K | $819.0K | - |
| Cost of Revenue | $1.28M | - | $0 | $0 | $0 | - | - | - | - | - |
| Gross Profit | $1.88M | - | $5.12M | $6.16M | $1.93M | - | - | - | - | - |
| R&D | $4.83M | - | $4.29M | $3.14M | $4.83M | - | $4.25M | $5.26M | $6.42M | - |
| SG&A | $10.04M | - | $8.56M | $2.43M | $9.99M | - | $2.97M | $2.43M | $2.69M | - |
| Total Operating Expenses | $17.00M | - | $14.92M | $14.44M | $15.15M | - | $7.22M | $7.80M | $9.10M | - |
| D&A | $410.0K | - | $468.0K | $247.0K | $97.0K | - | $104.0K | $81.0K | $57.0K | - |
| Operating Income | ($13.83M) | - | ($9.80M) | ($8.29M) | ($13.23M) | - | ($6.48M) | ($7.05M) | ($8.29M) | - |
| Interest Expense | $277.0K | - | $0 | $0 | $0 | - | - | - | - | - |
| Income Tax | $0 | - | - | - | - | - | - | - | - | - |
| Net Income | ($14.12M) | - | ($6.03M) | ($8.88M) | ($13.38M) | - | ($6.48M) | ($6.02M) | ($8.95M) | - |
| EPS - Basic | ($0.54) | - | ($0.25) | ($0.44) | ($0.71) | - | ($0.34) | ($0.39) | - | - |
| EPS - Diluted | ($0.54) | - | ($0.25) | ($0.44) | ($0.71) | - | ($0.34) | ($1.00) | - | - |
Balance Sheet
| Line item | Q1 '23 | Q4 '22 | Q3 '22 | Q2 '22 | Q1 '22 | Q4 '21 | Q3 '21 | Q2 '21 | Q1 '21 | Q4 '20 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash & Equivalents | $12.54M | $12.32M | $14.90M | $37.30M | $35.49M | $47.09M | $59.96M | $65.80M | $32.66M | $35.88M |
| Accounts Receivable | $13.84M | $22.00M | $14.88M | $18.22M | $4.47M | - | - | - | - | - |
| Inventory | $1.12M | $1.20M | $1.18M | $1.56M | $0 | - | - | - | - | - |
| Accounts Payable | $14.32M | $13.69M | $4.07M | $6.76M | $4.75M | $2.17M | $2.92M | $1.80M | $1.00M | $1.19M |
| Current Assets | $32.69M | $42.37M | $34.63M | $62.05M | $58.68M | $54.13M | $61.51M | $68.78M | $41.18M | $44.01M |
| Total Assets | $79.79M | $90.33M | $83.27M | $114.39M | $112.05M | $68.96M | $73.89M | $79.72M | $46.98M | $46.83M |
| Current Liabilities | $43.91M | $46.40M | $35.63M | $44.26M | $46.98M | $11.15M | $12.67M | $11.61M | $8.59M | $8.70M |
| Long-term Debt | - | - | - | $16.50M | $16.50M | $0 | $0 | $0 | $120.0K | $478.0K |
| Total Liabilities | $82.62M | $85.72M | $76.51M | $102.14M | $106.17M | $50.64M | $47.70M | $47.39M | $46.13M | $43.85M |
| Stockholders' Equity | ($2.83M) | $4.61M | $6.76M | $12.25M | $5.88M | $18.32M | $26.18M | $32.33M | $850.0K | $2.98M |
| Retained Earnings | ($324.40M) | ($310.28M) | ($307.26M) | ($301.23M) | ($292.35M) | ($278.97M) | ($270.74M) | ($264.25M) | ($258.23M) | ($249.28M) |
Cash Flow
| Line item | Q1 '23 | Q4 '22 | Q3 '22 | Q2 '22 | Q1 '22 | Q4 '21 | Q3 '21 | Q2 '21 | Q1 '21 | Q4 '20 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | ($4.25M) | - | - | - | $766.0K | - | - | - | ($8.60M) | - |
| Investing Cash Flow | ($23.0K) | - | - | - | ($12.92M) | - | - | - | ($934.0K) | - |
| Financing Cash Flow | $4.09M | - | - | - | $562.0K | - | - | - | $6.79M | - |
| CapEx | $23.0K | - | - | - | $928.0K | - | - | - | $934.0K | - |
| Free Cash Flow | ($4.27M) | - | - | - | ($162.0K) | - | - | - | ($9.54M) | - |
Ratios
| Metric | Q1 '23 | Q4 '22 | Q3 '22 | Q2 '22 | Q1 '22 | Q4 '21 | Q3 '21 | Q2 '21 | Q1 '21 | Q4 '20 |
|---|---|---|---|---|---|---|---|---|---|---|
| Profitability | ||||||||||
| Gross margin | 59.4% | - | 100.0% | 100.0% | 100.0% | - | - | - | - | - |
| Operating margin | -436.9% | - | -191.7% | -134.6% | -686.0% | - | -879.6% | -944.4% | -1011.6% | - |
| EBITDA margin | -424.0% | - | -182.5% | -130.5% | -681.0% | - | -865.5% | -933.6% | -1004.6% | - |
| Net margin | -446.0% | - | -117.9% | -144.2% | -694.0% | - | -879.8% | -806.3% | -1093.0% | - |
| Free cash flow margin | -135.0% | - | - | - | -8.4% | - | - | - | -1164.2% | - |
| FCF / Net income | 0.30 | - | - | - | 0.01 | - | - | - | 1.07 | - |
| R&D / Revenue | 152.6% | - | 83.8% | 51.1% | 250.7% | - | 576.8% | 703.7% | 783.6% | - |
| SG&A / Revenue | 317.1% | - | 167.4% | 39.5% | 518.4% | - | 402.8% | 325.4% | 328.0% | - |
| Effective tax rate | - | - | - | - | - | - | - | - | - | - |
| Return on assets | -17.7% | - | -7.2% | -7.8% | -11.9% | - | -8.8% | -7.6% | -19.1% | - |
| Return on equity | 499.3% | - | -89.2% | -72.5% | -227.5% | - | -24.8% | -18.6% | -1053.2% | - |
| Return on invested capital | - | - | - | - | - | - | - | - | - | - |
| Liquidity | ||||||||||
| Current ratio | 0.74 | 0.91 | 0.97 | 1.40 | 1.25 | 4.85 | 4.86 | 5.93 | 4.80 | 5.06 |
| Quick ratio | 0.72 | 0.89 | 0.94 | 1.37 | 1.25 | 4.85 | 4.86 | 5.93 | 4.80 | 5.06 |
| Cash ratio | 0.29 | 0.27 | 0.42 | 0.84 | 0.76 | 4.22 | 4.73 | 5.67 | 3.80 | 4.12 |
| Leverage | ||||||||||
| Debt / Equity | - | - | - | 1.35 | 2.81 | 0.00 | 0.00 | 0.00 | 0.14 | 0.16 |
| Debt / Assets | - | - | - | 0.14 | 0.15 | 0.00 | 0.00 | 0.00 | 0.00 | 0.01 |
| Debt / EBITDA | - | - | - | - | - | - | - | - | - | - |
| Interest coverage | -49.9x | - | - | - | - | - | - | - | - | - |
| Equity multiplier | -28.22 | 19.62 | 12.32 | 9.34 | 19.05 | 3.76 | 2.82 | 2.47 | 55.27 | 15.73 |
| Liabilities / Assets | 1.04 | 0.95 | 0.92 | 0.89 | 0.95 | 0.73 | 0.65 | 0.59 | 0.98 | 0.94 |
| Efficiency | ||||||||||
| Asset turnover | 0.04 | - | 0.06 | 0.05 | 0.02 | - | 0.01 | 0.01 | 0.02 | - |
| Inventory turnover | 1.15 | - | 0.00 | 0.00 | - | - | - | - | - | - |
| Days sales outstanding | 1595d | - | 1062d | 1080d | 847d | - | - | - | - | - |
| Days inventory outstanding | 317d | - | - | - | - | - | - | - | - | - |
| Days payable outstanding | 4068d | - | - | - | - | - | - | - | - | - |
| Cash conversion cycle | -2156d | - | - | - | - | - | - | - | - | - |
| Valuation | ||||||||||
| P / E | - | - | - | - | - | - | - | - | - | - |
| P / B | - | - | - | - | - | - | - | - | - | - |
| P / S | - | - | - | - | - | - | - | - | - | - |
| EV / EBITDA | - | - | - | - | - | - | - | - | - | - |
| Growth | ||||||||||
| Revenue growth (YoY) | 64.2% | - | 594.0% | 724.4% | 135.4% | - | -44.0% | -43.5% | -32.5% | - |
| Revenue CAGR (3y) | 37.7% | - | 57.2% | 77.5% | 20.6% | - | 4.4% | 4.8% | 7.6% | - |
| Revenue CAGR (5y) | 36.9% | - | 46.8% | 55.9% | - | - | - | - | - | - |
| Gross profit growth (YoY) | -2.4% | - | - | - | - | - | - | - | - | - |
| Operating income growth (YoY) | -4.6% | - | -51.2% | -17.4% | -59.6% | - | 22.8% | 12.8% | -33.4% | - |
| Net income growth (YoY) | -5.5% | - | 7.0% | -47.4% | -49.5% | - | 22.9% | 25.5% | -45.2% | - |
| EPS growth (YoY) | 23.9% | - | 26.5% | 56.0% | - | - | - | - | - | - |
| EPS CAGR (3y) | - | - | - | - | - | - | - | - | - | - |
| EPS CAGR (5y) | - | - | - | - | - | - | - | - | - | - |
| FCF growth (YoY) | -2537.7% | - | - | - | 98.3% | - | - | - | -22.4% | - |
| FCF CAGR (5y) | - | - | - | - | - | - | - | - | - | - |
| Book value growth (YoY) | - | -74.9% | -74.2% | -62.1% | 592.0% | 515.4% | 251.3% | - | - | - |
Sales by segment
From XBRL dimensional facts in the 10-K period ending 2021-12-31.
Product / service
$2.82M totalLicense And Collaboration$2.82M · 100.0%
Peer comparison
Same SIC group: Pharmaceutical Preparations
Comparing Novan against the 5 most active filers in the same SIC group.