Sorrento Therapeutics, Inc. (SRNE) Financial Statements (2023 and Earlier)

Company Profile

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

Balance Sheet (Statement of Financial Position) ($ in millions)

12/31/2021
12/31/2020
12/31/2019
12/31/2018
12/31/2017
12/31/2016
ASSETS
Current Assets
Cash, cash equivalents, and short-term investments12756231592184
Cash and cash equivalents3756231592082
Short-term investments90  011
Restricted cash and investments  1310  
Receivables191615422
Inventory, net of allowances, customer advances and progress billings823   
Inventory823   
Prepaid expense129    
Other current assets74    
Other undisclosed current assets  14764
Total current assets:17386681803090
Noncurrent Assets
Operating lease, right-of-use asset854246
Property, plant and equipment413230241913
Long-term investments and receivables512562528270189
Long-term investments512562528270189
Intangible assets, net (including goodwill)339117102105109106
Goodwill804438383842
Intangible assets, net (excluding goodwill)2607463667165
Restricted cash and investments  4545  
Other noncurrent assets525634
Other undisclosed noncurrent assets  237237  
Total noncurrent assets:522450490445402312
TOTAL ASSETS:695536558624432402
LIABILITIES AND EQUITY
Liabilities
Current Liabilities
Accounts payable and accrued liabilities876562372217
Accounts payable27252814108
Accrued liabilities3819191375
Employee-related liabilities2221161044
Deferred revenue144
Debt32234010 0
Deferred compensation liability     1
Derivative instruments and hedges, liabilities  9   
Business combination, contingent consideration, liability801115348
Deferred revenue and credits410
Contract with customer, liability3
Other undisclosed current liabilities124    
Total current liabilities:13996115627976
Noncurrent Liabilities
Long-term debt and lease obligation194143251223547
Long-term debt, excluding current maturities11192199223547
Operating lease, liability835052
Liabilities, other than long-term debt283156158122141192
Deferred revenue and credits125139
Deferred revenue119113114
Contract with customer, liability116
Deferred rent credit   6
Deferred tax liabilities, net 1653
Deferred income tax liabilities279
Other liabilities210   
Business combination, contingent consideration, liability124     
Derivative instruments and hedges, liabilities363535   
Other undisclosed noncurrent liabilities   9  
Total noncurrent liabilities:477299410355146239
Total liabilities:617395525417225315
Stockholders' equity
Stockholders' equity attributable to parent791657920920080
Common stock000000
Treasury stock, value(49)(49)(49)(49)(49)(49)
Additional paid in capital1,5141,172788627414304
Accumulated other comprehensive income (loss)11(0)00(0)
Accumulated deficit(1,387)(958)(660)(368)(165)(174)
Stockholders' equity attributable to noncontrolling interest(1)(24)(46)(2)76
Total stockholders' equity:781413320820787
TOTAL LIABILITIES AND EQUITY:695536558624432402

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

12/31/2021
12/31/2020
12/31/2019
12/31/2018
12/31/2017
12/31/2016
Revenues534031211528
Revenue, net1528
Cost of revenue(14)(3)(80)(7)(4)(1)
Gross profit:3937(49)141487
Operating expenses(440)(282)(210)(75)(64)(69)
Other undisclosed operating loss   (90)(58)(35)
Operating income (loss):(401)(245)(259)(150)25(97)
Nonoperating income (expense)(1)(1)1(0)(1)1
Investment income, nonoperating0(1)11(0)1
Foreign currency transaction gain (loss), before tax(1)1(0)(1)(0) 
Interest and debt expense(17)(72)(64)(66)(9)(2)
Other undisclosed income (loss) from continuing operations before equity method investments, income taxes(43)7(37)3  
Income (loss) from continuing operations before equity method investments, income taxes:(463)(311)(360)(214)15(98)
Income (loss) from equity method investments(0)(6)(4)(5) 0
Other undisclosed income (loss) from continuing operations before income taxes    (0)33
Income (loss) from continuing operations before income taxes:(463)(316)(363)(219)15(65)
Income tax benefit34206361
Income (loss) before gain (loss) on sale of properties:(429)(314)(363)(213)51(64)
Other undisclosed net loss    (40) 
Net income (loss):(429)(314)(363)(213)11(64)
Net income (loss) attributable to noncontrolling interest116719(2)3
Net income (loss) attributable to parent:(428)(298)(292)(204)9(61)
Other undisclosed net loss available to common stockholders, basic    (0) 
Net income (loss) available to common stockholders, basic:(428)(298)(292)(204)9(61)
Other undisclosed net loss available to common stockholders, diluted  (39)   
Net income (loss) available to common stockholders, diluted:(428)(298)(331)(204)9(61)

Comprehensive Income ($ in millions)

12/31/2021
12/31/2020
12/31/2019
12/31/2018
12/31/2017
12/31/2016
Net income (loss):(429)(314)(363)(213)11(64)
Other undisclosed comprehensive income (loss)11(0)(0)0(71)
Comprehensive income (loss):(429)(314)(363)(213)11(135)
Comprehensive income, net of tax, attributable to noncontrolling interest11671923
Other undisclosed comprehensive loss, net of tax, attributable to parent    (4)(3)
Comprehensive income (loss), net of tax, attributable to parent:(428)(298)(292)(204)9(135)

Statements Sources

The financial statements are based on the Company's filings with 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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