SURF · Surface Oncology, 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 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 |
|---|---|---|---|---|---|---|
| Revenue | - | $30.00M | $2.69M | $126.16M | $15.36M | $6.63M |
| Cost of Revenue | - | - | - | - | - | - |
| Gross Profit | - | - | - | - | - | - |
| R&D | - | $67.00M | $53.57M | $41.02M | $52.12M | $20.49M |
| SG&A | - | $24.87M | $25.13M | $23.56M | $20.61M | $4.14M |
| Total Operating Expenses | - | $91.87M | $78.70M | $64.58M | $72.73M | $24.64M |
| D&A | - | $1.37M | $1.57M | $1.67M | $1.78M | $331.0K |
| Operating Income | - | ($61.87M) | ($76.01M) | $61.59M | ($57.37M) | ($18.00M) |
| Interest Expense | - | $3.15M | $2.85M | - | - | - |
| Income Tax | - | - | - | - | - | - |
| Net Income | - | ($63.59M) | ($78.48M) | $59.34M | ($54.79M) | ($17.45M) |
| EPS - Basic | - | ($1.14) | ($1.77) | $1.67 | - | - |
| EPS - Diluted | - | ($1.14) | ($1.77) | $1.57 | - | - |
Balance Sheet
| Line item | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 |
|---|---|---|---|---|---|---|
| Cash & Equivalents | $40.00B | $50.91M | $56.05M | $175.14M | $46.76M | $9.99M |
| Accounts Receivable | - | - | - | - | - | - |
| Inventory | - | - | - | - | - | - |
| Accounts Payable | - | $256.0K | $1.55M | $1.67M | $3.38M | $3.41M |
| Current Assets | - | $129.14M | $157.35M | $180.51M | $107.93M | $164.60M |
| Total Assets | - | $159.91M | $190.85M | $217.14M | $131.69M | $174.06M |
| Current Liabilities | - | $16.26M | $20.02M | $17.65M | $19.27M | $27.18M |
| Long-term Debt | - | - | - | - | - | - |
| Total Liabilities | - | $66.51M | $71.95M | $61.39M | $75.03M | $71.20M |
| Stockholders' Equity | - | $93.40M | $118.90M | $155.75M | $56.67M | $102.86M |
| Retained Earnings | - | ($204.33M) | ($140.74M) | ($62.26M) | ($121.59M) | ($66.81M) |
Cash Flow
| Line item | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 |
|---|---|---|---|---|---|---|
| Operating Cash Flow | - | ($59.55M) | ($62.34M) | $30.00M | ($60.14M) | $41.41M |
| Investing Cash Flow | - | $22.76M | ($99.25M) | $58.31M | $16.96M | ($68.97M) |
| Financing Cash Flow | - | $31.66M | $42.50M | $40.08M | $7.42M | $25.94M |
| CapEx | - | $497.0K | $120.0K | $43.0K | $1.54M | $836.0K |
| Free Cash Flow | - | ($60.05M) | ($62.46M) | $29.95M | ($61.68M) | $40.58M |
Ratios
| Metric | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 |
|---|---|---|---|---|---|---|
| Profitability | ||||||
| Gross margin | - | - | - | - | - | - |
| Operating margin | - | -206.2% | -2828.9% | 48.8% | -373.5% | -271.5% |
| EBITDA margin | - | -201.7% | -2770.5% | 50.1% | -361.9% | -266.5% |
| Net margin | - | -212.0% | -2920.9% | 47.0% | -356.7% | -263.2% |
| Free cash flow margin | - | -200.2% | -2324.7% | 23.7% | -401.5% | 611.8% |
| FCF / Net income | - | 0.94 | 0.80 | 0.50 | 1.13 | -2.32 |
| R&D / Revenue | - | 223.3% | 1993.7% | 32.5% | 339.3% | 309.0% |
| SG&A / Revenue | - | 82.9% | 935.2% | 18.7% | 134.2% | 62.5% |
| Effective tax rate | - | - | - | - | - | - |
| Return on assets | - | -39.8% | -41.1% | 27.3% | -41.6% | -10.0% |
| Return on equity | - | -68.1% | -66.0% | 38.1% | -96.7% | -17.0% |
| Return on invested capital | - | - | - | - | - | - |
| Liquidity | ||||||
| Current ratio | - | 7.94 | 7.86 | 10.23 | 5.60 | 6.06 |
| Quick ratio | - | 7.94 | 7.86 | 10.23 | 5.60 | 6.06 |
| Cash ratio | - | 3.13 | 2.80 | 9.92 | 2.43 | 0.37 |
| Leverage | ||||||
| Debt / Equity | - | - | - | - | - | - |
| Debt / Assets | - | - | - | - | - | - |
| Debt / EBITDA | - | - | - | - | - | - |
| Interest coverage | - | -19.7x | -26.6x | - | - | - |
| Equity multiplier | - | 1.71 | 1.61 | 1.39 | 2.32 | 1.69 |
| Liabilities / Assets | - | 0.42 | 0.38 | 0.28 | 0.57 | 0.41 |
| Efficiency | ||||||
| Asset turnover | - | 0.19 | 0.01 | 0.58 | 0.12 | 0.04 |
| Inventory turnover | - | - | - | - | - | - |
| Days sales outstanding | - | - | - | - | - | - |
| Days inventory outstanding | - | - | - | - | - | - |
| Days payable outstanding | - | - | - | - | - | - |
| Cash conversion cycle | - | - | - | - | - | - |
| Valuation | ||||||
| P / E | - | - | - | - | - | - |
| P / B | - | - | - | - | - | - |
| P / S | - | - | - | - | - | - |
| EV / EBITDA | - | - | - | - | - | - |
| Growth | ||||||
| Revenue growth (YoY) | - | 1016.5% | -97.9% | 721.4% | 131.6% | - |
| Revenue CAGR (3y) | - | 25.0% | -26.0% | - | - | - |
| Revenue CAGR (5y) | - | - | - | - | - | - |
| Gross profit growth (YoY) | - | - | - | - | - | - |
| Operating income growth (YoY) | - | 18.6% | - | - | -218.6% | - |
| Net income growth (YoY) | - | 19.0% | - | - | -213.9% | - |
| EPS growth (YoY) | - | 35.6% | - | - | - | - |
| EPS CAGR (3y) | - | - | - | - | - | - |
| EPS CAGR (5y) | - | - | - | - | - | - |
| FCF growth (YoY) | - | 3.9% | - | - | - | - |
| FCF CAGR (5y) | - | - | - | - | - | - |
| Book value growth (YoY) | - | -21.4% | -23.7% | 174.9% | -44.9% | - |
Sales by segment
From XBRL dimensional facts in the 10-K period ending 2021-12-31.
Product / service
$5.37M totalLicense$2.69M · 50.0%
License Supply Services$1.95M · 36.4%
Transition Services$733.0K · 13.6%
Stability scores
Piotroski F-score
FY 2023 · 9-point quality
0/9
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 Surface Oncology against the 5 most active filers in the same SIC group.