Precigen (PGEN) FY2020 results: revenue $32 million, down 64.7% on the year

Precigen, Inc. (PGEN) reported revenue of $32 million for fiscal 2020, the year ended 31 December 2020, down 64.7% on the year before. Net income was -$171 million, and diluted earnings per share $-1.02. The figures are the company's own, from the 10-K it filed with the SEC on 1 March 2021.

Revenue

$32 million

-64.7% on the year

FY2013FY2020

Operating margin

n/a

FY2013FY2020

Net income

-$171 million

FY2013FY2020

Diluted EPS

-$1.02

FY2013FY2020

this yearthe year beforeHover a bar for its figure.

The year in brief

The quarters: Q2 FY2020 · Q3 FY2020 · Q4 FY2020

Income statement (profit and loss)

$ million	FY2020	FY2019	FY2018	On the year
Revenue	32.0	90.7	151	-64.7%
Research and development	n/a	n/a	405
Selling, general and administrative	n/a	n/a	138
Operating income	n/a	n/a	-506
Operating margin	n/a	n/a	-334.4%
Interest expense	n/a	n/a	8.5
Pre-tax income	-105	-171	-396
Income tax	-0.1	-0.9	-15.4
Net income	-171	-322	-509
Net margin	-533.0%	-355.3%	-336.9%
Diluted EPS	-$1.02	-$2.09	-$3.93

$ million except per share.

Free cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.

Cash flow

$ million	FY2020	FY2019	FY2018	On the year
Operating cash flow	-77.0	-136	-124
Capital expenditure	7.5	37.9	41.6	-80.1%
Free cash flow	-84.5	-174	-166
Free cash flow margin	-264.3%	-191.6%	-109.7%
Cash from investing	27.8	86.9	-151	-68.0%
Cash from financing	32.7	8.1	310	+301.9%
Depreciation and amortisation	17.5	24.9	33.1	-29.6%
Share-based compensation	18.4	18.9	36.3	-3.1%
Diluted shares, weighted	167m	154m	n/a	+8.4%
Shares outstanding at period end	188m	163m	160m	+14.9%

Balance sheet

$ million	FY2020	FY2019	FY2018	On the year
Shareholders' equity	67.2	71.7	363	-6.3%
Non-controlling interest	n/a	0.0	15.9
Debt	172	220	212	-21.8%
Operating lease liabilities	7.7	10.1	0.0	-23.5%
Other liabilities	67.8	154	126	-56.0%
Total liabilities and equity	315	456	716	-31.0%
Fixed assets	34.9	44.0	86.9	-20.5%
Goodwill	54.4	54.1	93.6	+0.5%
Intangible assets	65.4	68.3	89.0	-4.3%
Investments	48.3	9.3	120	+421.9%
Cash and equivalents	51.8	65.8	96.9	-21.3%
Receivables	16.5	20.6	21.2	-20.2%
Other assets	43.3	194	209	-77.6%
Total assets	315	456	716	-31.0%

10-K for the year ended 31 December 2020, filed 1 March 2021: the filing.