SRNEQ · Sorrento Therapeutics, 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 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 |
|---|---|---|---|---|---|---|
| Revenue | - | - | - | $31.43M | $21.19M | $151.86M |
| Cost of Revenue | - | - | - | - | $7.06M | $3.94M |
| Gross Profit | - | - | - | - | $14.13M | $147.91M |
| R&D | $221.23M | $206.92M | $111.34M | $106.88M | $11.30M | $26.10M |
| SG&A | $182.34M | $196.86M | $116.18M | $103.56M | $63.64M | $38.33M |
| Total Operating Expenses | $567.15M | $454.36M | $284.50M | $290.82M | $171.62M | $126.52M |
| D&A | $13.24M | $12.46M | $11.01M | $10.99M | $9.05M | $7.08M |
| Operating Income | ($504.31M) | ($401.45M) | ($244.52M) | ($259.39M) | ($150.43M) | $25.34M |
| Interest Expense | $8.57M | $10.22M | $20.18M | $36.14M | $57.63M | $4.98M |
| Income Tax | ($2.42M) | ($33.52M) | ($2.01M) | ($473.0K) | ($6.27M) | ($36.04M) |
| Net Income | ($572.84M) | ($428.32M) | ($298.46M) | ($292.07M) | ($203.54M) | $9.13M |
| EPS - Basic | ($1.37) | ($1.45) | ($1.30) | ($2.20) | ($1.92) | ($1.21) |
| EPS - Diluted | ($1.37) | ($1.45) | ($1.30) | ($2.35) | ($1.92) | ($1.21) |
Balance Sheet
| Line item | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 |
|---|---|---|---|---|---|---|
| Cash & Equivalents | $23.63M | $36.66M | $56.46M | $22.52M | $158.74M | $20.43M |
| Accounts Receivable | $24.47M | $18.71M | $15.51M | $3.83M | $3.83M | $2.21M |
| Inventory | $9.98M | $8.11M | $1.83M | $3.36M | - | - |
| Accounts Payable | $47.52M | $27.41M | $24.71M | $27.63M | $13.82M | $9.91M |
| Current Assets | $96.37M | $172.99M | $86.23M | $67.59M | $179.56M | $29.70M |
| Total Assets | $472.84M | $694.82M | $535.82M | $557.63M | $624.09M | $431.61M |
| Current Liabilities | $327.92M | $139.45M | $96.48M | $115.21M | $61.62M | $78.95M |
| Long-term Debt | $19.13M | $110.63M | $92.26M | $199.09M | $223.14M | $5.21M |
| Total Liabilities | $494.51M | $616.69M | $395.09M | $524.88M | $416.59M | $225.00M |
| Stockholders' Equity | ($18.61M) | $78.75M | $165.15M | $78.59M | $209.47M | $199.57M |
| Retained Earnings | ($1.96B) | ($1.39B) | ($958.28M) | ($659.82M) | ($367.75M) | ($165.12M) |
Cash Flow
| Line item | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 |
|---|---|---|---|---|---|---|
| Operating Cash Flow | ($293.86M) | ($281.82M) | ($159.54M) | ($173.00M) | ($111.77M) | ($70.93M) |
| Investing Cash Flow | ($28.52M) | $79.85M | ($39.92M) | ($38.17M) | ($21.20M) | ($17.45M) |
| Financing Cash Flow | $311.72M | $181.33M | $174.24M | $78.89M | $326.00M | $131.74M |
| CapEx | $13.66M | $8.87M | $6.53M | $11.44M | $11.20M | $10.97M |
| Free Cash Flow | ($307.51M) | ($290.69M) | ($166.06M) | ($184.44M) | ($122.96M) | ($81.90M) |
Ratios
| Metric | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 |
|---|---|---|---|---|---|---|
| Profitability | ||||||
| Gross margin | - | - | - | - | 66.7% | 97.4% |
| Operating margin | - | - | - | -825.3% | -709.8% | 16.7% |
| EBITDA margin | - | - | - | -790.3% | -667.1% | 21.3% |
| Net margin | - | - | - | -929.2% | -960.4% | 6.0% |
| Free cash flow margin | - | - | - | -586.8% | -580.2% | -53.9% |
| FCF / Net income | 0.54 | 0.68 | 0.56 | 0.63 | 0.60 | -8.97 |
| R&D / Revenue | - | - | - | 340.0% | 53.3% | 17.2% |
| SG&A / Revenue | - | - | - | 329.5% | 300.3% | 25.2% |
| Effective tax rate | - | - | - | - | - | - |
| Return on assets | -121.1% | -61.6% | -55.7% | -52.4% | -32.6% | 2.1% |
| Return on equity | 3079.0% | -543.9% | -180.7% | -371.6% | -97.2% | 4.6% |
| Return on invested capital | -75887.4% | -167.5% | -75.0% | -73.8% | -27.5% | 9.8% |
| Liquidity | ||||||
| Current ratio | 0.29 | 1.24 | 0.89 | 0.59 | 2.91 | 0.38 |
| Quick ratio | 0.26 | 1.18 | 0.87 | 0.56 | 2.91 | 0.38 |
| Cash ratio | 0.07 | 0.26 | 0.59 | 0.20 | 2.58 | 0.26 |
| Leverage | ||||||
| Debt / Equity | -1.03 | 1.40 | 0.56 | 2.53 | 1.07 | 0.03 |
| Debt / Assets | 0.04 | 0.16 | 0.17 | 0.36 | 0.36 | 0.01 |
| Debt / EBITDA | - | - | - | - | - | 0.16 |
| Interest coverage | -58.8x | -39.3x | -12.1x | -7.2x | -2.6x | 5.1x |
| Equity multiplier | -25.41 | 8.82 | 3.24 | 7.10 | 2.98 | 2.16 |
| Liabilities / Assets | 1.05 | 0.89 | 0.74 | 0.94 | 0.67 | 0.52 |
| Efficiency | ||||||
| Asset turnover | - | - | - | 0.06 | 0.03 | 0.35 |
| Inventory turnover | - | - | - | - | - | - |
| Days sales outstanding | - | - | - | 45d | 66d | 5d |
| Days inventory outstanding | - | - | - | - | - | - |
| Days payable outstanding | - | - | - | - | 714d | 917d |
| Cash conversion cycle | - | - | - | - | - | - |
| Valuation | ||||||
| P / E | - | - | - | - | - | - |
| P / B | - | - | - | - | - | - |
| P / S | - | - | - | - | - | - |
| EV / EBITDA | - | - | - | - | - | - |
| Growth | ||||||
| Revenue growth (YoY) | - | - | - | 48.3% | -86.0% | 1762.8% |
| Revenue CAGR (3y) | - | - | - | 56.8% | 66.5% | 241.1% |
| Revenue CAGR (5y) | - | - | - | 52.4% | 56.5% | 142.9% |
| Gross profit growth (YoY) | - | - | - | - | -90.4% | 1914.9% |
| Operating income growth (YoY) | -25.6% | -64.2% | 5.7% | -72.4% | - | - |
| Net income growth (YoY) | -33.7% | -43.5% | -2.2% | -43.5% | - | - |
| EPS growth (YoY) | 5.5% | -11.5% | 44.7% | -22.4% | -58.7% | - |
| EPS CAGR (3y) | - | - | - | - | - | - |
| EPS CAGR (5y) | - | - | - | - | - | - |
| FCF growth (YoY) | -5.8% | -75.0% | 10.0% | -50.0% | -50.1% | -5.3% |
| FCF CAGR (5y) | - | - | - | - | - | - |
| Book value growth (YoY) | - | -52.3% | 110.1% | -62.5% | 5.0% | 149.3% |
Stability scores
Piotroski F-score
FY 2022 · 9-point quality
2/9
Weak
- ✗Net income positive
- ✗Operating cash flow positive
- ✗ROA improved YoY
- ✓Cash flow > net income
- ✓Long-term debt decreased
- ✗Current ratio improved
- ✗No share dilution
- -Gross margin improved
- -Asset turnover improved
Peer comparison
Same SIC group: Biological Products, (No Diagnostic Substances)
Comparing Sorrento Therapeutics against the 5 most active filers in the same SIC group.