Sorrento Therapeutics, Inc. (SRNE) financial statements (2021 and earlier)

Company profile

Business Address 4955 DIRECTORS PLACE
SAN DIEGO, CA 92121
State of Incorp. DE
Fiscal Year End December 31
SIC 2836 - Biological Products, Except Diagnostic Substances (benchmarking)
More info Complete financial analysis Financial benchmarking

Balance sheet (Statement of financial position) ($ in millions)

12/31/2020
12/31/2019
12/31/2018
12/31/2017
12/31/2016
12/31/2015
ASSETS
Current Assets
Cash, cash equivalents, and short-term investments56231592184136
Cash and cash equivalents5623159208239
Short-term investments  01197
Restricted cash and investments 1310   
Receivables16154221
Inventory, net of allowances, customer advances and progress billings23    
Inventory23    
Prepaid expense9     
Other current assets4     
Other undisclosed current assets 147644
Total current assets:86681803090141
Noncurrent Assets
Operating lease, right-of-use asset4246
Property, plant and equipment32302419137
Long-term investments and receivables2562528270189170
Long-term investments2562528270189170
Intangible assets, net (including goodwill)11710210510910625
Goodwill443838384221
Intangible assets, net (excluding goodwill)74636671654
Restricted cash and investments 4545   
Other noncurrent assets256341
Other undisclosed noncurrent assets 237237   
Total noncurrent assets:450490445402312203
TOTAL ASSETS:536558624432402344
LIABILITIES AND EQUITY
Liabilities
Current Liabilities
Accounts payable and accrued liabilities65623722178
Accounts payable2528141081
Accrued liabilities191913754
Employee-related liabilities211610442
Deferred revenue44
Debt234010 05
Deferred compensation liability    11
Derivative instruments and hedges, liabilities 9    
Business combination, contingent consideration, liability0111534812
Deferred revenue and credits410 
Contract with customer, liability3
Other undisclosed current liabilities4    6
Total current liabilities:9611562797631
Noncurrent Liabilities
Long-term debt and lease obligation1432512235474
Long-term debt, excluding current maturities921992235474
Operating lease, liability5052
Liabilities, other than long-term debt156158122141192167
Deferred revenue and credits125139118
Deferred revenue113114
Contract with customer, liability116
Deferred compensation liability, classified     0
Deferred rent credit  6
Deferred tax liabilities, net 165349
Deferred income tax liabilities79
Other liabilities10    
Derivative instruments and hedges, liabilities3535    
Other undisclosed noncurrent liabilities  9   
Total noncurrent liabilities:299410355146239172
Total liabilities:395525417225315203
Stockholders' equity
Stockholders' equity attributable to parent1657920920080145
Common stock000000
Treasury stock, value(49)(49)(49)(49)(49) 
Additional paid in capital1,172788627414304185
Accumulated other comprehensive income (loss)1(0)00(0)74
Accumulated deficit(958)(660)(368)(165)(174)(113)
Stockholders' equity attributable to noncontrolling interest(24)(46)(2)76(4)
Total stockholders' equity:1413320820787141
TOTAL LIABILITIES AND EQUITY:536558624432402344

Income statement (P&L) ($ in millions)

12/31/2020
12/31/2019
12/31/2018
12/31/2017
12/31/2016
12/31/2015
Revenues40312115285
Revenue, net15285
Cost of revenue(3)(80)(7)(4)(1)(2)
Gross profit:37(49)1414873
Operating expenses(282)(210)(75)(64)(69)(47)
Other undisclosed operating loss  (90)(58)(35)(30)
Operating income (loss):(245)(259)(150)25(97)(74)
Nonoperating income (expense)(1)1(0)(1)10
Investment income, nonoperating(1)11(0)10
Foreign currency transaction gain (loss), before tax1(0)(1)(0)  
Interest and debt expense(72)(64)(66)(9)(2)(2)
Other undisclosed income (loss) from continuing operations before equity method investments, income taxes7(37)3   
Income (loss) from continuing operations before equity method investments, income taxes:(311)(360)(214)15(98)(76)
Income (loss) from equity method investments(6)(4)(5) 0(4)
Other undisclosed income (loss) from continuing operations before income taxes   (0)3366
Income (loss) from continuing operations before income taxes:(316)(363)(219)15(65)(14)
Income tax expense (benefit)206361(36)
Income (loss) before gain (loss) on sale of properties:(314)(363)(213)51(64)(50)
Other undisclosed net loss   (40)  
Net income (loss):(314)(363)(213)11(64)(50)
Net income (loss) attributable to noncontrolling interest16719(2)34
Net income (loss) attributable to parent:(298)(292)(204)9(61)(46)
Other undisclosed net loss available to common stockholders, basic   (0)  
Net income (loss) available to common stockholders, basic:(298)(292)(204)9(61)(46)
Other undisclosed net loss available to common stockholders, diluted (39)    
Net income (loss) available to common stockholders, diluted:(298)(331)(204)9(61)(46)

Comprehensive Income ($ in millions)

12/31/2020
12/31/2019
12/31/2018
12/31/2017
12/31/2016
12/31/2015
Net income (loss):(314)(363)(213)11(64)(50)
Other undisclosed comprehensive income (loss)1(0)(0)0(71)78
Comprehensive income (loss):(314)(363)(213)11(135)28
Comprehensive income, net of tax, attributable to noncontrolling interest16719234
Other undisclosed comprehensive loss, net of tax, attributable to parent   (4)(3)(4)
Comprehensive income (loss), net of tax, attributable to parent:(298)(292)(204)9(135)28

Statements sources

The financial statements are based on the company's filings with the The U.S. Securities and Exchange Commission (SEC) through the Electronic Data Gathering, Analysis, and Retrieval system (EDGAR). The information is derived from the 10-K and 10-Q reports submitted to the SEC in XBRL (eXtensible Business Reporting Language) format and presented according to the US GAAP Taxonomy. Please review the original filings for a more detailed information.

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