Statement of Comprehensive Income
Comprehensive income is the change in equity (net assets) of a business enterprise during a period from transactions and other events and circumstances from non-owners sources. It includes all changes in equity during a period except those resulting from investments by owners and distributions to owners.
Cytokinetics Inc., consolidated statement of comprehensive income
US$ in thousands
Based on: 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31).
A persistent and accelerating expansion of losses is evident between 2018 and 2022. The financial trajectory is characterized by a marked increase in both net and comprehensive losses, with the most significant deterioration occurring in the final two years of the period.
- Net Loss Trends
- Net losses grew from 106.29 million USD in 2018 to 388.96 million USD in 2022. While the increase in losses was relatively moderate between 2018 and 2020, a sharp escalation began in 2021, with the net loss increasing by approximately 69% from the previous year and further widening by roughly 81% in 2022.
- Other Comprehensive Income (OCI) Dynamics
- The unrealized gain or loss on available-for-sale securities experienced a trend reversal. Positive contributions of 157 thousand USD in 2018 and 179 thousand USD in 2019 transitioned into losses starting in 2020. This negative trend intensified over time, culminating in a loss of 2.72 million USD in 2022, indicating a declining valuation of the available-for-sale securities portfolio.
- Comprehensive Loss Trajectory
- The comprehensive loss closely tracks the net loss, widening from 106.13 million USD in 2018 to 391.68 million USD in 2022. The total comprehensive loss is predominantly driven by net operational losses, as the impact of other comprehensive income remains relatively marginal in scale, although it has moved from providing a small offset in the early years to adding to the total loss in the later years.
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