Name: Cytokinetics Inc. (NASDAQ:CYTK) | Balance Sheet: Assets (Quarterly)
Creator: Stock Analysis on Net

Balance Sheet: Assets
Quarterly Data

The balance sheet provides creditors, investors, and analysts with information on company resources (assets) and its sources of capital (its equity and liabilities). It normally also provides information about the future earnings capacity of a company assets as well as an indication of cash flows that may come from receivables and inventories.

Assets are resources controlled by the company as a result of past events and from which future economic benefits are expected to flow to the entity.

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Cytokinetics Inc., consolidated balance sheet: assets (quarterly data)

US$ in thousands

	Sep 30, 2023	Jun 30, 2023	Mar 31, 2023	Dec 31, 2022	Sep 30, 2022	Jun 30, 2022	Mar 31, 2022	Dec 31, 2021	Sep 30, 2021	Jun 30, 2021	Mar 31, 2021	Dec 31, 2020	Sep 30, 2020	Jun 30, 2020	Mar 31, 2020	Dec 31, 2019	Sep 30, 2019	Jun 30, 2019	Mar 31, 2019	Dec 31, 2018	Sep 30, 2018	Jun 30, 2018	Mar 31, 2018
Cash and cash equivalents	99,692)	68,639)	101,616)	65,582)	106,238)	93,631)	115,422)	112,666)	90,562)	37,154)	44,594)	82,985)	200,812)	61,134)	49,776)	36,433)	39,634)	34,361)	39,409)	42,256)	27,624)	46,955)	115,011)
Short-term investments	439,547)	497,083)	562,346)	716,995)	761,426)	492,395)	493,552)	358,972)	387,074)	313,147)	380,983)	381,075)	209,452)	151,929)	170,930)	188,679)	126,405)	138,507)	137,213)	156,475)	182,686)	184,986)	136,443)
Accounts receivable	2,499)	985)	1,006)	147)	2,294)	1,973)	6,056)	51,819)	644)	2,701)	4,514)	4,420)	4,965)	2,254)	2,704)	5,163)	6,576)	8,993)	4,165)	2,231)	9,156)	236)	37)
Contract assets	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	575)	2,472)	4,554)	5,876)	10,375)	18,550)
Prepaid expenses and other current assets	19,678)	19,868)	15,661)	12,462)	14,317)	14,251)	8,496)	12,215)	16,661)	11,227)	3,026)	5,741)	3,183)	3,637)	2,528)	3,477)	3,920)	2,515)	3,141)	2,158)	1,927)	1,677)	2,298)
Current assets	561,416)	586,575)	680,629)	795,186)	884,275)	602,250)	623,526)	535,672)	494,941)	364,229)	433,117)	474,221)	418,412)	218,954)	225,938)	233,752)	176,535)	184,951)	186,400)	207,674)	227,269)	244,229)	272,339)
Long-term investments	15,468)	26,871)	40,406)	46,708)	28,544)	10,668)	77,083)	152,050)	191,295)	73,672)	34,664)	36,954)	40,958)	—)	16,510)	42,650)	—)	2,254)	—)	—)	—)	—)	4,015)
Property and equipment, net	75,614)	77,248)	78,859)	80,453)	80,302)	78,586)	75,740)	73,271)	53,896)	36,942)	23,198)	13,346)	7,667)	5,611)	5,162)	4,530)	3,615)	2,945)	3,175)	3,204)	2,687)	2,598)	3,156)
Operating lease right-of-use assets	79,929)	80,866)	81,802)	82,737)	75,076)	72,161)	72,646)	73,138)	80,725)	83,006)	79,687)	2,924)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)
Other assets	8,187)	8,339)	8,119)	9,691)	7,764)	8,052)	7,258)	7,188)	6,682)	6,453)	6,396)	6,358)	7,075)	7,930)	8,972)	8,882)	7,243)	8,068)	9,036)	300)	323)	412)	416)
Non-current assets	179,198)	193,324)	209,186)	219,589)	191,686)	169,467)	232,727)	305,647)	332,598)	200,073)	143,945)	59,582)	55,700)	13,541)	30,644)	56,062)	10,858)	13,267)	12,211)	3,504)	3,010)	3,010)	7,587)
Total assets	740,614)	779,899)	889,815)	1,014,775)	1,075,961)	771,717)	856,253)	841,319)	827,539)	564,302)	577,062)	533,803)	474,112)	232,495)	256,582)	289,814)	187,393)	198,218)	198,611)	211,178)	230,279)	247,239)	279,926)

Total assets exhibited a significant long-term growth trajectory, rising from 279.9 million USD in March 2018 to a peak of 1.076 billion USD in September 2022, before contracting to 740.6 million USD by September 2023. This expansion was primarily driven by a substantial increase in liquid current assets, although a downward trend in total asset value has been observed over the final five quarters of the analyzed period.

Liquidity and Cash Management: The company maintains a highly liquid balance sheet, dominated by cash and short-term investments. Short-term investments showed the most aggressive growth, increasing from 136.4 million USD in March 2018 to a peak of 761.4 million USD in September 2022. Cash and cash equivalents remained volatile, characterized by periodic fluctuations, such as a sharp increase to 200.8 million USD in September 2020 followed by a decline. By September 2023, the combined total of cash and short-term investments stood at 539.2 million USD, representing a substantial portion of the total asset base.
Non-Current Asset Expansion: Non-current assets experienced a dramatic increase over the period, growing from 7.6 million USD in March 2018 to a peak of 332.6 million USD in September 2021. This growth is attributed to three primary factors: a steady rise in net property and equipment from 3.2 million USD to 75.6 million USD, the introduction and stabilization of operating lease right-of-use assets at approximately 80 million USD starting in early 2021, and fluctuating levels of long-term investments which peaked at 191.3 million USD in September 2021.
Working Capital Anomalies: Accounts receivable generally remained negligible throughout the period, with the exception of a significant outlier in December 2021, where the balance spiked to 51.8 million USD before returning to minimal levels in subsequent quarters. Contract assets, which were present in early 2018 at 18.6 million USD, steadily declined and ceased to be reported after June 2019, indicating a shift in revenue recognition or contractual structures.
Fixed Asset Trends: A consistent upward trend in property and equipment, net, is observed from 2018 through 2022, suggesting a period of sustained investment in physical infrastructure. However, this growth plateaued in 2023, with values remaining relatively stable between 75.6 million USD and 78.9 million USD.

The overall asset structure reveals a strategic emphasis on maintaining high liquidity, likely to fund operational requirements or future investments. The transition from contract assets to a more traditional asset mix, combined with the substantial increase in short-term investments, indicates a shift toward a more conservative and liquid financial position over the observed timeframe.

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Cytokinetics Inc. (NASDAQ:CYTK)

Balance Sheet: AssetsQuarterly Data

Assets: Selected Items

Current Assets: Selected Items

Balance Sheet: Assets
Quarterly Data