Balance Sheet: Liabilities and Stockholders’ Equity
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.

Liabilities represents obligations of a company arising from past events, the settlement of which is expected to result in an outflow of economic benefits from the entity.

Cytokinetics Inc., consolidated balance sheet: liabilities and stockholders’ equity (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
Accounts payable	13,796)	12,561)	17,357)	25,611)	14,429)	14,078)	19,836)	21,087)	16,222)	14,928)	7,766)	8,050)	6,738)	2,920)	3,527)	8,160)	3,412)	5,194)	2,547)	3,764)	2,024)	1,336)	2,424)
Accrued liabilities	32,954)	31,470)	35,632)	44,096)	40,229)	36,702)	29,477)	34,370)	31,772)	22,394)	14,806)	19,315)	14,486)	13,688)	9,677)	12,123)	13,139)	11,828)	12,944)	15,757)	15,652)	16,090)	15,545)
Contract liabilities	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	8,132)	15,836)
Current deferred revenue	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	4,506)
Current portion of long-term debt	—)	—)	—)	—)	—)	—)	—)	—)	16,875)	11,250)	5,625)	—)	—)	—)	—)	—)	—)	—)	6,212)	2,607)	3,778)	1,703)	—)
Short-term operating lease liabilities	17,236)	15,701)	14,263)	12,829)	16,056)	14,303)	14,490)	14,863)	13,586)	12,190)	5,295)	2,785)	3,943)	5,075)	5,030)	4,616)	4,577)	4,538)	4,499)	—)	—)	—)	—)
Other current liabilities	13,737)	5,885)	7,968)	2,081)	5,782)	1,760)	3,044)	1,540)	2,413)	1,004)	2,438)	1,049)	2,406)	1,013)	2,507)	1,124)	389)	399)	75)	66)	38)	28)	235)
Current liabilities	77,723)	65,617)	75,220)	84,617)	76,496)	66,843)	66,847)	71,860)	80,868)	61,766)	35,930)	31,199)	27,573)	22,696)	20,741)	26,023)	21,517)	21,959)	26,277)	22,194)	21,492)	27,289)	38,546)
Term loan, net, excluding current portion	60,885)	62,492)	64,110)	63,810)	63,544)	62,344)	61,165)	47,367)	30,203)	35,538)	40,874)	46,209)	45,920)	45,631)	45,340)	45,052)	44,762)	44,473)	36,382)	39,806)	38,127)	30,662)	31,954)
Convertible notes, net	548,134)	547,288)	546,513)	545,808)	544,986)	134,674)	134,511)	95,471)	93,885)	92,348)	90,889)	89,504)	88,102)	86,743)	85,455)	84,205)	—)	—)	—)	—)	—)	—)	—)
Liabilities related to revenue participation right purchase agreements, net	370,049)	313,163)	306,814)	300,501)	291,260)	282,266)	275,235)	179,072)	174,775)	171,790)	168,890)	166,068)	160,395)	154,914)	148,983)	143,276)	137,726)	132,388)	127,308)	122,473)	117,718)	113,144)	108,792)
Long-term deferred revenue	—)	—)	—)	—)	—)	—)	87,000)	87,000)	87,000)	87,000)	87,000)	87,000)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)
Long-term operating lease liabilities	122,216)	123,829)	125,341)	126,895)	114,405)	112,732)	112,023)	112,229)	106,313)	95,713)	85,633)	440)	517)	591)	1,774)	2,195)	3,257)	4,294)	5,272)	—)	—)	—)	—)
Other non-current liabilities	408)	625)	837)	1,044)	1,247)	1,444)	3,211)	4,457)	5,475)	3,658)	—)	—)	2,000)	—)	—)	—)	—)	—)	—)	771)	873)	974)	1,035)
Non-current liabilities	1,101,692)	1,047,397)	1,043,615)	1,038,058)	1,015,442)	593,460)	673,145)	525,596)	497,651)	486,047)	473,286)	389,221)	296,934)	287,879)	281,552)	274,728)	185,745)	181,155)	168,962)	163,050)	156,718)	144,780)	141,781)
Total liabilities	1,179,415)	1,113,014)	1,118,835)	1,122,675)	1,091,938)	660,303)	739,992)	597,456)	578,519)	547,813)	509,216)	420,420)	324,507)	310,575)	302,293)	300,751)	207,262)	203,114)	195,239)	185,244)	178,210)	172,069)	180,327)
Preferred stock, $0.001 par value	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)
Common stock, $0.001 par value	94)	94)	94)	94)	93)	85)	85)	84)	84)	72)	71)	70)	70)	60)	59)	59)	59)	58)	55)	55)	55)	55)	54)
Additional paid-in capital	1,537,321)	1,514,169)	1,489,814)	1,481,590)	1,438,103)	1,422,127)	1,406,249)	1,452,268)	1,426,051)	1,117,403)	1,107,135)	1,105,470)	1,096,953)	865,724)	857,038)	853,341)	813,729)	799,088)	775,401)	768,703)	765,970)	762,887)	757,405)
Accumulated other comprehensive income (loss)	(874)	(1,458)	(1,645)	(3,590)	(5,559)	(4,494)	(3,589)	(869)	(65)	(22)	50)	149)	958)	1,337)	1,613)	679)	719)	761)	606)	500)	447)	450)	489)
Accumulated deficit	(1,975,342)	(1,845,920)	(1,717,283)	(1,585,994)	(1,448,614)	(1,306,304)	(1,286,484)	(1,207,620)	(1,177,050)	(1,100,964)	(1,039,410)	(992,306)	(948,376)	(945,201)	(904,421)	(865,016)	(834,376)	(804,803)	(772,690)	(743,324)	(714,403)	(688,222)	(658,349)
Stockholders’ equity (deficit)	(438,801)	(333,115)	(229,020)	(107,900)	(15,977)	111,414)	116,261)	243,863)	249,020)	16,489)	67,846)	113,383)	149,605)	(78,080)	(45,711)	(10,937)	(19,869)	(4,896)	3,372)	25,934)	52,069)	75,170)	99,599)
Total liabilities and stockholders’ equity (deficit)	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)

Accounts payable: The accounts payable balance exhibited variability throughout the periods analyzed. Initial values around $2,424 thousand in early 2018 fluctuated considerably, reaching peaks above $21,000 thousand by late 2021 and again around $25,000 thousand in late 2022. Recently, the account showed some reduction but remained elevated compared to early periods.
Accrued liabilities: Accrued liabilities displayed an overall increasing trend. Starting near $15,545 thousand in early 2018, the balance gradually increased with sporadic fluctuations, peaking above $44,000 thousand in early 2023 before declining somewhat in subsequent quarters.
Contract liabilities and Current deferred revenue: Contract liabilities were reported only in early 2018, showing a significant decline thereafter, with data absent for subsequent periods. Current deferred revenue was reported solely at the start of the timeline and discontinued afterward, suggesting a change in recognition or classification of these items.
Current portion of long-term debt: This balance appeared intermittently, initially increasing to a peak of $16,875 thousand in late 2020, followed by no reported values for extended periods, and brief reappearances at elevated levels in the middle of 2020 and later periods, suggesting possible refinancing or reclassification activities.
Short-term operating lease liabilities: The short-term operating lease liabilities emerged in late 2018 at approximately $4,499 thousand and steadily increased over time, reaching a maximum above $17,000 thousand by late 2023, indicating a growth in leased obligations likely due to expanded lease agreements.
Other current liabilities: This item exhibited a rising trend over the period. Initially low with values under $100 thousand in early 2018, it increased to levels exceeding $13,000 thousand by late 2023, though with fluctuations reflecting variability in obligations classified under this category.
Current liabilities: Current liabilities showed significant volatility and an overall upward trajectory. After initial reductions from $38,546 thousand in early 2018 to roughly $21,000 thousand in late 2018, the figure surged to over $80,000 thousand by late 2021 and remained elevated above $65,000 thousand in subsequent quarters, reflecting increases in various current obligation components.
Term loan, net, excluding current portion: Term loans excluding current portions generally stabilized around $45,000 thousand from 2018 through early 2021, afterwards demonstrating a decline below $31,000 thousand by late 2021 and then an increase again, though with some fluctuations through 2023, indicating refinancing or repayment activity.
Convertible notes, net: Convertible notes first appeared in late 2019 at approximately $84,205 thousand, gradually rising to just under $95,000 thousand by mid-2021. Subsequently, a substantial increase occurred, peaking sharply at nearly $548,000 thousand by late 2023, denoting significant debt issuance or conversion activity within the period.
Liabilities related to revenue participation right purchase agreements, net: This liability item showed consistent growth throughout the timeline, increasing steadily from over $108,000 thousand in early 2018 to above $370,000 thousand by late 2023. The continuous upward trend reflects ongoing or expanding revenue participation obligations.
Long-term deferred revenue: Long-term deferred revenue was reported only in a limited range of periods from late 2020 to early 2022, consistently recorded at $87,000 thousand, indicating a stable but time-limited deferred revenue balance during those quarters.
Long-term operating lease liabilities: Long-term operating lease liabilities initially appeared in late 2018 around $5,272 thousand, declining through mid-2020 to below $600 thousand. However, a sharp increase followed in late 2020, dramatically rising to over $126,000 thousand by late 2022, then slightly decreasing. This reflects a major reassessment or addition to lease obligations over the period.
Other non-current liabilities: This category saw a gradual decline from $1,035 thousand in early 2018 to under $500 thousand by late 2023, indicating a reduction in miscellaneous long-term obligations.
Non-current liabilities: Non-current liabilities rose significantly through the analyzed periods, from approximately $141,781 thousand in early 2018 to over $1,101,692 thousand by late 2023. This large increase is consistent with growth in convertible notes and revenue participation obligations, highlighting expanded long-term financial commitments.
Total liabilities: Total liabilities correspondingly increased from around $180,327 thousand in early 2018 to a peak exceeding $1,179,415 thousand in late 2023. The rising trend reflects increased borrowing, lease obligations, and other liabilities.
Common stock: The common stock par value remained relatively constant, with minor increments from $54 thousand in early 2018 to $94 thousand in late 2023, indicating modest issuance of new shares.
Additional paid-in capital: Additional paid-in capital expanded substantially over the timeline, starting at approximately $757,405 thousand in early 2018 and growing to over $1,537,321 thousand by late 2023. This reflects significant equity financing and potentially the conversion of convertible instruments into equity.
Accumulated other comprehensive income (loss): This component fluctuated notably, starting with a positive balance of $489 thousand in early 2018, turning negative in later periods, reaching losses exceeding $5,500 thousand in late 2022, before partially recovering but remaining negative in 2023, indicating variability in unrealized gains or losses.
Accumulated deficit: The accumulated deficit demonstrated a continual and substantial increase over the period, worsening from approximately -$658,349 thousand in early 2018 to over -$1,975,342 thousand by late 2023, signaling ongoing net losses or distributions exceeding earnings.
Stockholders’ equity (deficit): Stockholders’ equity fluctuated between positive and negative values, reaching a low near -$438,801 thousand in late 2023. Periods of positive equity occurred mainly from late 2020 through 2021, coinciding with equity infusions or non-recurring gains. Overall, the equity position weakened over the long term, reflecting the accumulated deficit and increased liabilities.
Total liabilities and stockholders’ equity (deficit): The total of liabilities and stockholders’ equity showed variation across periods, with an increasing overall trend from about $279,926 thousand in early 2018 to roughly $740,614 thousand in late 2023. Notable peaks and declines correspond with shifts in liabilities and equity balances, indicating changing capital structure dynamics.

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Cytokinetics Inc. (NASDAQ:CYTK)

Balance Sheet: Liabilities and Stockholders’ EquityQuarterly Data

Balance Sheet: Liabilities and Stockholders’ Equity
Quarterly Data