Company profile

Ticker
NVTA
Exchange
Website
CEO
Sean Emerson George
Employees
Incorporated in
Location
Fiscal year end
Former names
Locus Development Inc
SEC CIK

NVTA stock data

(
)

Investment data

Data from SEC filings
Securities sold
Number of investors

Calendar

6 Nov 19
7 Dec 19
31 Dec 19

News

Company financial data Financial data

Quarter (USD) Sep 19 Jun 19 Mar 19 Dec 18
Revenue 56.51M 53.48M 40.55M 45.36M
Net income -78.71M -48.68M -37.68M -29.84M
Diluted EPS -0.47 -0.38
Net profit margin -139% -91.03% -92.91% -65.79%
Operating income -76.98M -51.89M -36.21M -25.9M
Net change in cash 220.01M -5.5M 140.34M 10.74M
Cash on hand 467.01M 247M 252.5M 112.16M
Cost of revenue 32.12M 28.01M 21.25M 21.14M
Annual (USD) Dec 18 Dec 17 Dec 16 Dec 15
Revenue 147.7M 68.22M 25.05M 8.38M
Net income -129.36M -123.38M -100.26M -89.78M
Diluted EPS -1.94 -2.65 -3.02 -3.18
Net profit margin -87.58% -181% -400% -1072%
Operating income -122.56M -121.28M -100.18M -89.48M
Net change in cash 100.11M -54.77M -6.41M -33.79M
Cash on hand 112.16M 12.05M 66.83M 73.24M
Cost of revenue 80.11M 50.14M 27.88M 16.52M

Financial data from Invitae earnings reports

Financial report summary

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Risks
  • We have acquired and may continue to acquire businesses or assets, form joint ventures or make investments in other companies or technologies that could harm our operating results, dilute our stockholders’ ownership, or cause us to incur debt or significant expense.
  • If third-party payers, including managed care organizations, private health insurers and government health plans do not provide adequate reimbursement for our tests or we are unable to comply with their requirements for reimbursement, our commercial success could be negatively affected.
  • Our inability to raise additional capital on acceptable terms in the future may limit our ability to develop and commercialize new tests and expand our operations.
  • We face intense competition, which is likely to intensify further as existing competitors devote additional resources to, and new participants enter, the market. If we cannot compete successfully, we may be unable to increase our revenue or achieve and sustain profitability.
  • We may not be able to manage our future growth effectively, which could make it difficult to execute our business strategy.
  • Security breaches, loss of data and other disruptions could compromise sensitive information related to our business or prevent us from accessing critical information and expose us to liability, which could adversely affect our business and our reputation.
  • We rely on highly skilled personnel in a broad array of disciplines and, if we are unable to hire, retain or motivate these individuals, or maintain our corporate culture, we may not be able to maintain the quality of our services or grow effectively.
  • We need to scale our infrastructure in advance of demand for our tests, and our failure to generate sufficient demand for our tests would have a negative impact on our business and our ability to attain profitability.
  • If we are not able to continue to generate substantial demand of our tests, our commercial success will be negatively affected.
  • Our success will depend on our ability to use rapidly changing genetic data to interpret test results accurately and consistently, and our failure to do so would have an adverse effect on our operating results and business, harm our reputation and could result in substantial liabilities that exceed our resources.
  • Our industry is subject to rapidly changing technology and new and increasing amounts of scientific data related to genes and genetic variants and their role in disease. Our failure to develop tests to keep pace with these changes could make us obsolete.
  • Our success will depend in part on our ability to generate sales using our internal sales team and through alternative marketing strategies.
  • Impairment in the value of our goodwill or other intangible assets could have a material adverse effect on our operating results and financial condition.
  • We rely on a limited number of suppliers or, in some cases, sole suppliers, for some of our laboratory instruments, materials and services, and we may not be able to find replacements or immediately transition to alternative suppliers.
  • If our laboratories in California become inoperable due to disasters or for any other reason, we will be unable to perform our tests and our business will be harmed.
  • The loss of any member or change in structure of our senior management team could adversely affect our business.
  • Development of new tests is a complex process, and we may be unable to commercialize new tests on a timely basis, or at all.
  • We depend on our information technology systems, and any failure of these systems could harm our business.
  • Ethical, legal and social concerns related to the use of genetic information could reduce demand for our tests.
  • Our international business exposes us to business, regulatory, political, operational, financial and economic risks associated with doing business outside of the United States.
  • Our ability to use our net operating loss carryforwards and certain other tax attributes may be limited.
  • If the FDA regulates our tests as medical devices, we could incur substantial costs and our business, financial condition and results of operations could be adversely affected.
  • If we fail to comply with federal, state and foreign laboratory licensing requirements, we could lose the ability to perform our tests or experience disruptions to our business.
  • Complying with numerous statutes and regulations pertaining to our business is an expensive and time-consuming process, and any failure to comply could result in substantial penalties.
  • Healthcare policy changes, including legislation reforming the U.S. healthcare system, may have a material adverse effect on our financial condition, results of operations and cash flows.
  • If we use hazardous materials in a manner that causes injury, we could be liable for resulting damages.
  • We could be adversely affected by violations of the FCPA and other worldwide anti-bribery laws.
  • Litigation or other proceedings or third-party claims of intellectual property infringement or misappropriation may require us to spend significant time and money, and could in the future prevent us from selling our tests or impact our stock price.
  • Developments in patent law could have a negative impact on our business.
  • Our inability to effectively protect our proprietary technologies, including the confidentiality of our trade secrets, could harm our competitive position.
  • We may not be able to enforce our intellectual property rights throughout the world.
  • Third parties may assert that our employees or consultants have wrongfully used or disclosed confidential information or misappropriated trade secrets.
  • We incur increased costs and demands on management as a result of compliance with laws and regulations applicable to public companies, which could harm our operating results.
  • If we are unable to maintain effective internal control over financial reporting, investors may lose confidence in the accuracy and completeness of our reported financial information and the market price of our common stock may be negatively affected.
  • We will no longer be an emerging growth company as of December 31, 2019, and failure to comply with increased public company reporting requirements could make our common stock less attractive to investors.
  • Servicing our debt requires a significant amount of cash, and we may not have sufficient cash flow from our business to pay our substantial debt.
  • We may not have the ability to raise the funds necessary to settle conversions of the Convertible Senior Notes in cash or to repurchase the notes upon a fundamental change, and our future debt may contain limitations on our ability to pay cash upon conversion or repurchase of the notes.
  • The conditional conversion feature of the Convertible Senior Notes, if triggered, may adversely affect our financial condition and operating results.
  • The accounting method for convertible debt securities that may be settled in cash, such as the notes, could have a material effect on our reported financial results.
  • Our stock price is volatile, and you may not be able to sell shares of our common stock at or above the price you paid.
  • Sales of a substantial number of shares of our common stock in the public market could cause our stock price to fall.
  • If securities or industry analysts issue an adverse opinion regarding our stock or do not publish research or reports about our company, our stock price and trading volume could decline.
  • We have never paid dividends on our capital stock, and we do not anticipate paying dividends in the foreseeable future.
  • Anti-takeover provisions in our charter documents and under Delaware law could discourage, delay or prevent a change in control and may affect the trading price of our common stock.
  • Our certificate of incorporation designates the Court of Chancery of the State of Delaware as the sole and exclusive forum for certain types of actions and proceedings that may be initiated by our stockholders, which could limit our stockholders’ ability to obtain a favorable judicial forum for disputes with us or our directors, officers or other employees.
Management Discussion
  • ITEM 2.  Management’s Discussion and Analysis of Financial Condition and Results of Operations.
  • This report contains forward‑looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. All statements in this report other than statements of historical fact, including statements identified by words such as “believe,” “may,” “will,” “estimate,” “continue,” “anticipate,” “intend,” “expect” and similar expressions, are forward‑looking statements. Forward‑looking statements include, but are not limited to, statements about:
  • Forward‑looking statements are subject to a number of risks and uncertainties that could cause actual results to differ materially from those expected. These risks and uncertainties include, but are not limited to, those risks discussed in Item 1A of Part II of this report. Although we believe that the expectations and assumptions reflected in the forward‑looking statements are reasonable, we cannot guarantee future results, level of activity, performance or achievements. In addition, neither we nor any other person assumes responsibility for the accuracy and completeness of any of these forward‑looking statements. Any forward‑looking statements in this report speak only as of the date of this report. We expressly disclaim any obligation or undertaking to update any forward‑looking statements.
Content analysis ?
Positive
Negative
Uncertain
Constraining
Legalese
Litigous
Readability
H.S. junior Good
New words: APB, cleared, codified, comment, consecutive, constitute, conversion, desirable, evidence, feature, fractional, fundamental, grace, holder, indenture, inquired, instrument, issuer, lieu, NaN, partly, reconcile, redeem, redeemed, redemption, surrendered, technique, template, unsecured
Removed: adequacy, behavior, billion, dispose, earned, filing, forfeiture, merge, ranged, repaid, turnover, unrecognized