TransEnterix Financials

$1.6 M

Revenue Q2, 2017

$1.3 B

Mkt cap, 13-Dec-2017
Gross profit (Q2, 2017)612 K
Gross profit margin (Q2, 2017), %39%
Net income (Q2, 2017)(14.7 M)
EBIT (Q2, 2017)(14.8 M)
Cash, 30-Jun-201729.7 M

Market Value

Revenue/Financials

Income Statement

Annual

USDFY, 2013FY, 2014FY, 2015FY, 2016

Revenue

1.4 m401 k1.5 m

Revenue growth, %

(72%)(100%)

Cost of goods sold

4.8 m1.1 m1.1 m

Gross profit

(3.4 m)(694 k)450 k

Gross profit Margin, %

(236%)(173%)30%

Sales and marketing expense

9.2 m

R&D expense

29.3 m

General and administrative expense

10.8 m

Operating expense total

49.2 m

EBIT

(25.6 m)(36.6 m)(46.4 m)(123.6 m)

EBIT margin, %

(1789%)(9129%)(8140%)

Interest expense

954 k1 m1.6 m1.9 m

Pre tax profit

(28.4 m)(37.7 m)(48 m)(125.5 m)

Income tax expense

2.8 m1 m1 m5.5 m

Net Income

(28.4 m)(37.7 m)(46.9 m)(120 m)

Quarterly

USDQ3, 2013Q1, 2014Q2, 2014Q3, 2014Q1, 2015Q2, 2015Q3, 2015Q1, 2016Q2, 2016Q3, 2016Q1, 2017Q2, 2017

Revenue

362 k93 k113 k61 k93 k113 k61 k1.5 m1.9 m1.6 m

Cost of goods sold

2.1 m220 k238 k202 k220 k238 k202 k1 m1.3 m972 k

Gross profit

(1.7 m)(127 k)(125 k)(141 k)(127 k)(125 k)(141 k)435 k612 k612 k

Gross profit Margin, %

(469%)(137%)(111%)(231%)(137%)(111%)(231%)30%31%39%

Sales and marketing expense

437 k406 k461 k456 k375 k373 k413 k1.7 m1.3 m2.6 m3.7 m3.7 m

R&D expense

2.9 m5 m7.9 m9.1 m7.5 m6.6 m7 m8.4 m6.4 m7 m6.9 m5.1 m

General and administrative expense

1.3 m1.6 m1.9 m1.6 m2 m2.1 m1.8 m2.2 m2.9 m2.8 m3 m2.7 m

Operating expense total

9.6 m7.3 m10.5 m11.3 m9.8 m9.1 m13.6 m15 m80.7 m14 m16.5 m15.4 m

EBIT

(9.2 m)(7.2 m)(10.4 m)(11.3 m)(9.8 m)(9.1 m)(13.6 m)(15 m)(80.7 m)(13.6 m)(15.9 m)(14.8 m)

EBIT margin, %

(2545%)(7697%)(9187%)(18475%)(10580%)(8025%)(22236%)(924%)(816%)(934%)

Interest expense

252 k321 k237 k281 k280 k436 k578 k489 k432 k334 k622 k

Pre tax profit

(14 m)(15.6 m)(81.1 m)(14 m)(16.3 m)(15.5 m)

Income tax expense

99 k2.6 m992 k1.1 m858 k741 k

Net Income

(11.3 m)(7.5 m)(10.6 m)(11.5 m)(10.1 m)(9.3 m)(13.9 m)(12.9 m)(80.1 m)(12.9 m)(15.4 m)(14.7 m)

Balance Sheet

Annual

USDFY, 2013FY, 2014FY, 2015FY, 2016

Cash

10 m34.8 m38.4 m24.2 m

Accounts Receivable

188 k133 k76 k621 k

Inventories

3.9 m7.9 m

Current Assets

17.8 m35.7 m49.1 m38 m

PP&E

1.9 m3.1 m4.4 m5.8 m

Goodwill

93.8 m93.8 m130.9 m68.7 m

Total Assets

116.7 m135.2 m248.6 m176.2 m

Accounts Payable

1.8 m1.8 m4.5 m4 m

Current Liabilities

7.1 m4.1 m31.1 m30.7 m

Total Liabilities

58.4 m

Additional Paid-in Capital

203 m257.6 m363.3 m426.6 m

Retained Earnings

(98.3 m)(135.9 m)(182.9 m)(302.8 m)

Total Equity

105 m121.8 m177.3 m117.9 m

Financial Leverage

1.1 x1.1 x1.4 x1.5 x

Quarterly

USDQ3, 2013Q1, 2014Q2, 2014Q3, 2014Q1, 2015Q2, 2015Q3, 2015Q1, 2016Q2, 2016Q3, 2016Q1, 2017Q2, 2017

Cash

23.8 m4.2 m52.6 m44.3 m28.4 m71.1 m52.9 m53.5 m64.6 m42.5 m13.1 m29.7 m

Accounts Receivable

294 k52 k96 k38 k53 k8 k78 k79 k77 k616 k1.8 m1.7 m

Inventories

766 k651 k438 k267 k3.4 m3.6 m4.2 m2.3 m8.3 m9.5 m

Current Assets

27.1 m10.2 m53.7 m45.5 m29.1 m71.7 m61.9 m64.3 m76 m53.5 m28.8 m48.1 m

PP&E

1.8 m1.9 m2.4 m2.9 m3 m2.9 m4.4 m5.9 m4.7 m4.6 m5.8 m6.4 m

Goodwill

93.7 m93.8 m93.8 m93.8 m93.8 m93.8 m116.1 m132.4 m69.8 m69.9 m69 m70.3 m

Total Assets

125.9 m108.9 m152.8 m144.9 m128.4 m170.6 m268.4 m267.8 m210.2 m197 m166.4 m185.8 m

Accounts Payable

2.6 m1.9 m3.6 m3.3 m2.3 m1.6 m4.4 m3.1 m2 m2.6 m3.3 m2.2 m

Current Liabilities

7.4 m7.4 m9.6 m5 m5.4 m6.4 m15.3 m30.6 m29.5 m29 m25 m17.4 m

Total Liabilities

13 m10.9 m12.1 m14.9 m13.8 m13.8 m75.7 m66.9 m64.3 m61.9 m50.1 m62 m

Common Stock

168 k

Preferred Stock

30.2 m

Additional Paid-in Capital

172.8 m203.7 m257 m257.8 m260.5 m312.1 m362.3 m396.1 m423.5 m425 m439 m455.9 m

Retained Earnings

(90.2 m)(105.7 m)(116.3 m)(127.8 m)(146 m)(155.4 m)(169.3 m)(195.8 m)(275.9 m)(288.9 m)(318.3 m)(333 m)

Total Equity

112.9 m98 m140.7 m130 m114.5 m156.8 m192.7 m200.9 m145.9 m135.1 m116.3 m123.8 m

Financial Leverage

1.1 x1.1 x1.1 x1.1 x1.1 x1.1 x1.4 x1.3 x1.4 x1.5 x1.4 x1.5 x

Cash Flow

Annual

USDFY, 2013FY, 2014FY, 2015FY, 2016

Net Income

(28.4 m)(37.7 m)(46.9 m)(120 m)

Depreciation and Amortization

1.5 m1.3 m2.2 m7 m

Accounts Receivable

402 k55 k133 k(1 m)

Inventories

731 k701 k(1.9 m)(6.6 m)

Accounts Payable

641 k(36 k)1.1 m(356 k)

Cash From Operating Activities

1.1 m(33.4 m)(38.8 m)(52.4 m)

Purchases of PP&E

(1.4 m)(2.2 m)(1.2 m)(1.4 m)

Cash From Investing Activities

(6.5 m)4 m(26.2 m)(1.4 m)

Cash From Financing Activities

53.9 m68.4 m49.9 m

Interest Paid

824 k904 k973 k1.3 m

Quarterly

USDQ3, 2013Q1, 2014Q2, 2014Q3, 2014Q1, 2015Q2, 2015Q3, 2015Q1, 2016Q2, 2016Q3, 2016Q1, 2017Q2, 2017

Net Income

(20.3 m)(7.5 m)(18.1 m)(29.6 m)(10.1 m)(19.5 m)(33.4 m)(12.9 m)(93 m)(106 m)(15.4 m)(30.1 m)

Depreciation and Amortization

1.1 m286 k594 k936 k390 k768 k1.4 m2.4 m4.7 m6.8 m2.2 m4.5 m

Accounts Receivable

251 k136 k92 k150 k80 k125 k133 k80 k125 k(809 k)(753 k)(487 k)

Inventories

667 k50 k263 k434 k50 k263 k(250 k)(1.7 m)(4 m)(1.9 m)(320 k)(862 k)

Accounts Payable

1.4 m54 k1.8 m1.5 m510 k(162 k)984 k(1.4 m)(2.5 m)(1.9 m)(759 k)(1.9 m)

Purchases of PP&E

(724 k)(187 k)(910 k)(1.6 m)(155 k)(311 k)(728 k)(153 k)(517 k)(878 k)(501 k)(1.4 m)

Cash From Investing Activities

(616 k)(155 k)(153 k)(517 k)(878 k)(1.8 m)

Cash From Financing Activities

(930 k)

Interest Paid

625 k179 k337 k518 k187 k375 k598 k373 k713 k1 m233 k368 k

Ratios

Y, 2017

Financial Leverage

1.5 x

Operating Metrics

TransEnterix's Patent Applications was reported to be 40 in FY, 2016
FY, 2016

Patent Applications

40

Patents Issued

19