Attached files
| file | filename |
|---|---|
| 8-K - FORM 8-K - Oxford Immunotec Global PLC | oxfd20190103_8k.htm |
Exhibit 99.1
The pro forma adjustments in the following tables are based on the best information available and assumptions that management believes are factually supportable and reasonable; however, such adjustments are subject to change. In addition, such adjustments are estimates. The unaudited pro forma consolidated information is for illustrative and informational purposes only and is not intended to reflect what our consolidated results of operations would have been had the disposition occurred prior to the dates indicated and is not necessarily indicative of our future consolidated results of operations.
For each of the periods presented, the column labeled “Pro Forma” reflects the Company’s revenue and cost of revenue as if the Transaction had already occurred and the Company had been selling its T-SPOT.TB test kits at an estimated market rate. For purposes of the pro forma adjustments, revenue is based on U.S. laboratory test volumes, as opposed to shipments of T-SPOT.TB test kits. This methodology may not be indicative of the future timing of revenue.
The As Reported and Pro Forma columns include blood donor screening revenue and cost of revenue, despite the Company’s decision to exit this business upon the closing of the Transaction.
Oxford Immunotec Global PLC
Unaudited pro forma condensed combined statement of operations
Three months ended September 30, 2018
|
(in thousands, except share and per share data) |
As Reported (a) |
Adjustments (b) |
Pro Forma (c) |
|||||||||
|
Revenue: |
||||||||||||
|
Product |
$ | 15,095 | $ | 2,924 | $ | 18,019 | ||||||
|
Service |
955 | — | 955 | |||||||||
|
Total revenue |
16,050 | 2,924 | 18,974 | |||||||||
|
Cost of revenue: |
||||||||||||
|
Product |
3,864 | 1,366 | 5,230 | |||||||||
|
Service |
709 | (171 | ) | 538 | ||||||||
|
Total cost of revenue |
4,573 | 1,195 | 5,768 | |||||||||
|
Gross profit |
11,477 | 1,729 | 13,206 | |||||||||
|
Operating expenses: |
||||||||||||
|
Research and development |
1,754 | — | 1,754 | |||||||||
|
Sales and marketing |
6,432 | — | 6,432 | |||||||||
|
General and administrative |
8,132 | — | 8,132 | |||||||||
|
Settlement expense |
212 | — | 212 | |||||||||
|
Total operating expenses |
16,530 | — | 16,530 | |||||||||
|
Operating loss from continuing operations |
(5,053 | ) | 1,729 | (3,324 | ) | |||||||
|
Other income (expense): |
||||||||||||
|
Interest expense, net |
(673 | ) | — | (673 | ) | |||||||
|
Foreign exchange losses |
(52 | ) | — | (52 | ) | |||||||
|
Other income |
5 | — | 5 | |||||||||
|
Loss from continuing operations before income taxes |
(5,773 | ) | 1,729 | (4,044 | ) | |||||||
|
Income tax expense from continuing operations |
(485 | ) | — | (485 | ) | |||||||
|
Loss from continuing operations |
(6,258 | ) | 1,729 | (4,529 | ) | |||||||
|
Discontinued operations: |
||||||||||||
|
Income from discontinued operations before income taxes |
2,774 | (2,774 | ) | — | ||||||||
|
Income tax expense |
— | — | — | |||||||||
|
Income from discontinued operations |
2,774 | (2,774 | ) | — | ||||||||
|
Net loss |
$ | (3,484 | ) | $ | (1,045 | ) | $ | (4,529 | ) | |||
|
Net loss from continuing operations per ordinary share—basic and diluted |
$ | (0.24 | ) | $ | 0.07 | $ | (0.17 | ) | ||||
|
Net income from discontinued operations per ordinary share—basic and diluted |
$ | 0.11 | $ | (0.11 | ) | $ | — | |||||
|
Net loss per ordinary share—basic and diluted |
$ | (0.13 | ) | $ | (0.04 | ) | $ | (0.17 | ) | |||
|
Weighted-average shares used to compute net loss per ordinary share—basic and diluted |
26,033,550 | 26,033,550 | 26,033,550 | |||||||||
|
(a) |
Amounts are as originally reported in Form 10-Q and reflect results of operations of the business sold to Quest as having been disposed of in accordance with Accounting Standards Codification, or ASC, 360, Property, Plant, and Equipment, in discontinued operations, as required by ASC 205, Presentation of Financial Statements. Amounts include blood donor screening revenue of about $100,000 and related cost of revenue, despite the Company’s decision to exit this business upon the closing of the Transaction. |
|
(b) |
Amounts reflect adjustments to the Company’s As Reported results of operations, as if the Closing Date of the Transaction had already occurred and the long-term Supply Agreement had been in effect for the full period. Additionally, the results of discontinued operations are eliminated. |
|
(c) |
Amounts reflect the pro forma results of continuing operations, as if the Closing Date of the Transaction had already occurred and the long-term Supply Agreement had been in effect for the full period. Amounts include blood donor screening revenue of about $100,000 and related cost of revenue, despite the Company’s decision to exit this business upon the closing of the Transaction. |
Oxford Immunotec Global PLC
Unaudited pro forma condensed combined statement of operations
Three months ended June 30, 2018
|
(in thousands, except share and per share data) |
As Reported (a) |
Adjustments (b) |
Pro Forma (c) |
|||||||||
|
Revenue: |
||||||||||||
|
Product |
$ | 11,721 | $ | 4,387 | $ | 16,108 | ||||||
|
Service |
17,597 | (15,934 | ) | 1,663 | ||||||||
|
Total revenue |
29,318 | (11,547 | ) | 17,771 | ||||||||
|
Cost of revenue: |
||||||||||||
|
Product |
3,477 | 1,301 | 4,778 | |||||||||
|
Service |
9,229 | (8,167 | ) | 1,062 | ||||||||
|
Total cost of revenue |
12,706 | (6,866 | ) | 5,840 | ||||||||
|
Gross profit |
16,612 | (4,681 | ) | 11,931 | ||||||||
|
Operating expenses: |
||||||||||||
|
Research and development |
3,385 | (1,534 | ) | 1,851 | ||||||||
|
Sales and marketing |
9,308 | (2,235 | ) | 7,073 | ||||||||
|
General and administrative |
7,116 | (1,458 | ) | 5,658 | ||||||||
|
Settlement expense |
1,560 | — | 1,560 | |||||||||
|
Total operating expenses |
21,369 | (5,227 | ) | 16,142 | ||||||||
|
Loss from operations |
(4,757 | ) | 546 | (4,211 | ) | |||||||
|
Other expense: |
||||||||||||
|
Interest expense, net |
(733 | ) | — | (733 | ) | |||||||
|
Foreign exchange losses |
(151 | ) | — | (151 | ) | |||||||
|
Other expense |
(196 | ) | — | (196 | ) | |||||||
|
Loss before income taxes |
(5,837 | ) | 546 | (5,291 | ) | |||||||
|
Income tax expense |
(634 | ) | — | (634 | ) | |||||||
|
Net loss |
$ | (6,471 | ) | $ | 546 | $ | (5,925 | ) | ||||
|
Net loss per ordinary share—basic and diluted |
$ | (0.25 | ) | $ | 0.02 | $ | (0.23 | ) | ||||
|
Weighted-average shares used to compute net loss per ordinary share—basic and diluted |
25,845,124 | 25,845,124 | 25,845,124 | |||||||||
|
(a) |
Amounts are as originally reported in Form 10-Q. Amounts include blood donor screening revenue of about $800,000 and related cost of revenue, despite the Company’s decision to exit this business upon the closing of the Transaction. |
|
(b) |
Amounts reflect adjustments to the Company’s As Reported results of operations, as if the Closing Date of the Transaction had already occurred and the long-term Supply Agreement had been in effect for the full period. |
|
(c) |
Amounts reflect the pro forma results of continuing operations, as if the Closing Date of the Transaction had already occurred and the long-term Supply Agreement had been in effect for the full period. Amounts include blood donor screening revenue of about $800,000 and related cost of revenue, despite the Company’s decision to exit this business upon the closing of the Transaction. |
Oxford Immunotec Global PLC
Unaudited pro forma condensed combined statement of operations
Three months ended March 31, 2018
|
(in thousands, except share and per share data) |
As Reported (a) |
Adjustments (b) |
Pro Forma (c) |
|||||||||
|
Revenue: |
||||||||||||
|
Product |
$ | 7,935 | $ | 3,726 | $ | 11,661 | ||||||
|
Service |
13,435 | (11,885 | ) | 1,550 | ||||||||
|
Total revenue |
21,370 | (8,159 | ) | 13,211 | ||||||||
|
Cost of revenue: |
||||||||||||
|
Product |
2,574 | 1,287 | 3,861 | |||||||||
|
Service |
8,016 | (6,909 | ) | 1,107 | ||||||||
|
Total cost of revenue |
10,590 | (5,622 | ) | 4,968 | ||||||||
|
Gross profit |
10,780 | (2,537 | ) | 8,243 | ||||||||
|
Operating expenses: |
||||||||||||
|
Research and development |
3,744 | (1,378 | ) | 2,366 | ||||||||
|
Sales and marketing |
9,405 | (2,254 | ) | 7,151 | ||||||||
|
General and administrative |
6,928 | (1,368 | ) | 5,560 | ||||||||
|
Settlement expense |
207 | — | 207 | |||||||||
|
Total operating expenses |
20,284 | (5,000 | ) | 15,284 | ||||||||
|
Loss from operations |
(9,504 | ) | 2,463 | (7,041 | ) | |||||||
|
Other expense: |
||||||||||||
|
Interest expense, net |
(604 | ) | — | (604 | ) | |||||||
|
Foreign exchange losses |
(103 | ) | — | (103 | ) | |||||||
|
Other expense |
(52 | ) | — | (52 | ) | |||||||
|
Loss before income taxes |
(10,263 | ) | 2,463 | (7,800 | ) | |||||||
|
Income tax expense |
(63 | ) | — | (63 | ) | |||||||
|
Net loss |
$ | (10,326 | ) | $ | 2,463 | $ | (7,863 | ) | ||||
|
Net loss per ordinary share—basic and diluted |
$ | (0.40 | ) | $ | 0.10 | $ | (0.31 | ) | ||||
|
Weighted-average shares used to compute net loss per ordinary share—basic and diluted |
25,718,910 | 25,718,910 | 25,718,910 | |||||||||
|
(a) |
Amounts are as originally reported in Form 10-Q. Amounts include blood donor screening revenue of about $800,000 and related cost of revenue, despite the Company’s decision to exit this business upon the closing of the Transaction. |
|
(b) |
Amounts reflect adjustments to the Company’s As Reported results of operations, as if the Closing Date of the Transaction had already occurred and the long-term Supply Agreement had been in effect for the full period. |
|
(c) |
Amounts reflect the pro forma results of continuing operations, as if the Closing Date of the Transaction had already occurred and the long-term Supply Agreement had been in effect for the full period. Amounts include blood donor screening revenue of about $800,000 and related cost of revenue, despite the Company’s decision to exit this business upon the closing of the Transaction. |
Oxford Immunotec Global PLC
Unaudited pro forma condensed combined statement of operations
Year ended December 31, 2017
|
(in thousands, except share and per share data) |
As Reported (a) |
Adjustments (b) |
Pro Forma (c) |
|||||||||
|
Revenue: |
||||||||||||
|
Product |
$ | 40,522 | $ | 14,875 | $ | 55,397 | ||||||
|
Service |
62,558 | (56,724 | ) | 5,834 | ||||||||
|
Total revenue |
103,080 | (41,849 | ) | 61,231 | ||||||||
|
Cost of revenue: |
||||||||||||
|
Product |
13,794 | 5,134 | 18,928 | |||||||||
|
Service |
32,937 | (28,331 | ) | 4,606 | ||||||||
|
Total cost of revenue |
46,731 | (23,197 | ) | 23,534 | ||||||||
|
Gross profit |
56,349 | (18,652 | ) | 37,697 | ||||||||
|
Operating expenses: |
||||||||||||
|
Research and development |
16,701 | (5,866 | ) | 10,835 | ||||||||
|
Sales and marketing |
38,016 | (8,963 | ) | 29,053 | ||||||||
|
General and administrative |
30,366 | (4,916 | ) | 25,450 | ||||||||
|
Change in fair value of contingent purchase price consideration |
(3,475 | ) | — | (3,475 | ) | |||||||
|
Intangible assets impairment charges |
18,300 | — | 18,300 | |||||||||
|
Settlement expense |
10,028 | — | 10,028 | |||||||||
|
Total operating expenses |
109,936 | (19,745 | ) | 90,191 | ||||||||
|
Loss from operations |
(53,587 | ) | 1,093 | (52,494 | ) | |||||||
|
Other income (expense): |
||||||||||||
|
Interest expense, net |
(3,105 | ) | — | (3,105 | ) | |||||||
|
Foreign exchange losses |
(1,850 | ) | — | (1,850 | ) | |||||||
|
Other expense |
(209 | ) | — | (209 | ) | |||||||
|
Litigation settlement income |
27,500 | — | 27,500 | |||||||||
|
Loss before income taxes |
(31,251 | ) | 1,093 | (30,158 | ) | |||||||
|
Income tax expense |
(1,634 | ) | — | (1,634 | ) | |||||||
|
Net loss |
$ | (32,885 | ) | $ | 1,093 | $ | (31,792 | ) | ||||
|
Net loss per ordinary share—basic and diluted |
$ | (1.38 | ) | $ | 0.05 | $ | (1.34 | ) | ||||
|
Weighted-average shares used to compute net loss per ordinary share—basic and diluted |
23,757,902 | 23,757,902 | 23,757,902 | |||||||||
|
(a) |
Amounts are as originally reported in Form 10-K. Amounts include blood donor screening revenue of about $3.7 million and related cost of revenue, despite the Company’s decision to exit this business upon the closing of the Transaction. |
|
(b) |
Amounts reflect adjustments to the Company’s As Reported results of operations, as if the Closing Date of the Transaction had already occurred and the long-term Supply Agreement had been in effect for the full period. |
|
(c) |
Amounts reflect the pro forma results of continuing operations, as if the Closing Date of the Transaction had already occurred and the long-term Supply Agreement had been in effect for the full period. Amounts include blood donor screening revenue of about $3.7 million and related cost of revenue, despite the Company’s decision to exit this business upon the closing of the Transaction. |
Oxford Immunotec Global PLC
Unaudited pro forma condensed combined statement of operations
Three months ended September 30, 2017
|
(in thousands, except share and per share data) |
As Reported (a) |
Adjustments (b) |
Pro Forma (c) |
|||||||||
|
Revenue: |
||||||||||||
|
Product |
$ | 12,000 | $ | 4,047 | $ | 16,047 | ||||||
|
Service |
18,429 | (16,836 | ) | 1,593 | ||||||||
|
Total revenue |
30,429 | (12,789 | ) | 17,640 | ||||||||
|
Cost of revenue: |
||||||||||||
|
Product |
4,027 | 1,365 | 5,392 | |||||||||
|
Service |
9,141 | (7,928 | ) | 1,213 | ||||||||
|
Total cost of revenue |
13,168 | (6,563 | ) | 6,605 | ||||||||
|
Gross profit |
17,261 | (6,226 | ) | 11,035 | ||||||||
|
Operating expenses: |
||||||||||||
|
Research and development |
4,467 | (1,535 | ) | 2,932 | ||||||||
|
Sales and marketing |
9,493 | (2,239 | ) | 7,254 | ||||||||
|
General and administrative |
8,141 | (1,072 | ) | 7,069 | ||||||||
|
Change in fair value of contingent purchase price consideration |
(880 | ) | — | (880 | ) | |||||||
|
Intangible assets impairment charge |
11,064 | — | 11,064 | |||||||||
|
Settlement expense |
196 | — | 196 | |||||||||
|
Total operating expenses |
32,481 | (4,846 | ) | 27,635 | ||||||||
|
Loss from operations |
(15,220 | ) | (1,380 | ) | (16,600 | ) | ||||||
|
Other expense: |
||||||||||||
|
Interest expense, net |
(781 | ) | — | (781 | ) | |||||||
|
Foreign exchange losses |
(624 | ) | — | (624 | ) | |||||||
|
Loss before income taxes |
(16,625 | ) | (1,380 | ) | (18,005 | ) | ||||||
|
Income tax expense |
(222 | ) | — | (222 | ) | |||||||
|
Net loss |
$ | (16,847 | ) | $ | (1,380 | ) | $ | (18,227 | ) | |||
|
Net loss per ordinary share—basic and diluted |
$ | (0.70 | ) | $ | (0.06 | ) | $ | (0.76 | ) | |||
|
Weighted-average shares used to compute net loss per ordinary share—basic and diluted |
24,123,574 | 24,123,574 | 24,123,574 | |||||||||
|
(a) |
Amounts are as originally reported in Form 10-Q. Amounts include blood donor screening revenue of about $900,000 and related cost of revenue, despite the Company’s decision to exit this business upon the closing of the Transaction. |
|
(b) |
Amounts reflect adjustments to the Company’s As Reported results of operations, as if the Closing Date of the Transaction had already occurred and the long-term Supply Agreement had been in effect for the full period. |
|
(c) |
Amounts reflect the pro forma results of continuing operations, as if the Closing Date of the Transaction had already occurred and the long-term Supply Agreement had been in effect for the full period. Amounts include blood donor screening revenue of about $900,000 and related cost of revenue, despite the Company’s decision to exit this business upon the closing of the Transaction. |
Oxford Immunotec Global PLC
Unaudited pro forma condensed combined statement of operations
Three months ended June 30, 2017
|
(in thousands, except share and per share data) |
As Reported (a) |
Adjustments (b) |
Pro Forma (c) |
|||||||||
|
Revenue: |
||||||||||||
|
Product |
$ | 10,422 | $ | 3,784 | $ | 14,206 | ||||||
|
Service |
15,698 | (14,265 | ) | 1,433 | ||||||||
|
Total revenue |
26,120 | (10,481 | ) | 15,639 | ||||||||
|
Cost of revenue: |
||||||||||||
|
Product |
4,094 | 1,490 | 5,584 | |||||||||
|
Service |
8,398 | (7,226 | ) | 1,172 | ||||||||
|
Total cost of revenue |
12,492 | (5,736 | ) | 6,756 | ||||||||
|
Gross profit |
13,628 | (4,745 | ) | 8,883 | ||||||||
|
Operating expenses: |
||||||||||||
|
Research and development |
3,948 | (1,389 | ) | 2,559 | ||||||||
|
Sales and marketing |
10,041 | (2,379 | ) | 7,662 | ||||||||
|
General and administrative |
7,990 | (1,350 | ) | 6,640 | ||||||||
|
Change in fair value of contingent purchase price consideration |
(238 | ) | — | (238 | ) | |||||||
|
Settlement expense |
9,635 | — | 9,635 | |||||||||
|
Total operating expenses |
31,376 | (5,118 | ) | 26,258 | ||||||||
|
Loss from operations |
(17,748 | ) | 373 | (17,375 | ) | |||||||
|
Other expense: |
||||||||||||
|
Interest expense, net |
(807 | ) | — | (807 | ) | |||||||
|
Foreign exchange losses |
(547 | ) | — | (547 | ) | |||||||
|
Other expense |
(122 | ) | — | (122 | ) | |||||||
|
Loss before income taxes |
(19,224 | ) | 373 | (18,851 | ) | |||||||
|
Income tax benefit |
2,458 | — | 2,458 | |||||||||
|
Net loss |
$ | (16,766 | ) | $ | 373 | $ | (16,393 | ) | ||||
|
Net loss per ordinary share—basic and diluted |
$ | (0.74 | ) | $ | 0.02 | $ | (0.72 | ) | ||||
|
Weighted-average shares used to compute net loss per ordinary share—basic and diluted |
22,805,379 | 22,805,379 | 22,805,379 | |||||||||
|
(a) |
Amounts are as originally reported in Form 10-Q. Amounts include blood donor screening revenue of about $1.0 million and related cost of revenue, despite the Company’s decision to exit this business upon the closing of the Transaction. |
|
(b) |
Amounts reflect adjustments to the Company’s As Reported results of operations, as if the Closing Date of the Transaction had already occurred and the long-term Supply Agreement had been in effect for the full period. |
|
(c) |
Amounts reflect the pro forma results of continuing operations, as if the Closing Date of the Transaction had already occurred and the long-term Supply Agreement had been in effect for the full period. Amounts include blood donor screening revenue of about $1.0 million and related cost of revenue, despite the Company’s decision to exit this business upon the closing of the Transaction. |
Oxford Immunotec Global PLC
Unaudited pro forma condensed combined statement of operations
Three months ended March 31, 2017
|
(in thousands, except share and per share data) |
As Reported (a) |
Adjustments (b) |
Pro Forma (c) |
|||||||||
|
Revenue: |
||||||||||||
|
Product |
$ | 8,386 | $ | 3,320 | $ | 11,706 | ||||||
|
Service |
13,119 | (11,724 | ) | 1,395 | ||||||||
|
Total revenue |
21,505 | (8,404 | ) | 13,101 | ||||||||
|
Cost of revenue: |
||||||||||||
|
Product |
3,245 | 1,278 | 4,523 | |||||||||
|
Service |
7,252 | (6,165 | ) | 1,087 | ||||||||
|
Total cost of revenue |
10,497 | (4,887 | ) | 5,610 | ||||||||
|
Gross profit |
11,008 | (3,517 | ) | 7,491 | ||||||||
|
Operating expenses: |
||||||||||||
|
Research and development |
3,805 | (1,203 | ) | 2,602 | ||||||||
|
Sales and marketing |
9,640 | (2,381 | ) | 7,259 | ||||||||
|
General and administrative |
6,876 | (1,131 | ) | 5,745 | ||||||||
|
Change in fair value of contingent purchase price consideration |
(2,357 | ) | — | (2,357 | ) | |||||||
|
Total operating expenses |
17,964 | (4,715 | ) | 13,249 | ||||||||
|
Loss from operations |
(6,956 | ) | 1,198 | (5,758 | ) | |||||||
|
Other expense: |
||||||||||||
|
Interest expense, net |
(823 | ) | — | (823 | ) | |||||||
|
Foreign exchange losses |
(106 | ) | — | (106 | ) | |||||||
|
Other expense |
(140 | ) | — | (140 | ) | |||||||
|
Loss before income taxes |
(8,025 | ) | 1,198 | (6,827 | ) | |||||||
|
Income tax expense |
(47 | ) | — | (47 | ) | |||||||
|
Net loss |
$ | (8,072 | ) | $ | 1,198 | $ | (6,874 | ) | ||||
|
Net loss per ordinary share—basic and diluted |
$ | (0.36 | ) | $ | 0.05 | $ | (0.31 | ) | ||||
|
Weighted-average shares used to compute net loss per ordinary share—basic and diluted |
22,533,531 | 22,533,531 | 22,533,531 | |||||||||
|
(a) |
Amounts are as originally reported in Form 10-Q. Amounts include blood donor screening revenue of about $1.0 million and related cost of revenue, despite the Company’s decision to exit this business upon the closing of the Transaction. |
|
(b) |
Amounts reflect adjustments to the Company’s As Reported results of operations, as if the Closing Date of the Transaction had already occurred and the long-term Supply Agreement had been in effect for the full period. |
|
(c) |
Amounts reflect the pro forma results of continuing operations, as if the Closing Date of the Transaction had already occurred and the long-term Supply Agreement had been in effect for the full period. Amounts include blood donor screening revenue of about $1.0 million and related cost of revenue, despite the Company’s decision to exit this business upon the closing of the Transaction. |
Oxford Immunotec Global PLC
Unaudited pro forma condensed combined statement of operations
Year ended December 31, 2016
|
(in thousands, except share and per share data) |
As Reported (a) |
Adjustments (b) |
Pro Forma (c) |
|||||||||
|
Revenue: |
||||||||||||
|
Product |
$ | 36,430 | $ | 13,655 | $ | 50,085 | ||||||
|
Service |
49,648 | (45,730 | ) | 3,918 | ||||||||
|
Total revenue |
86,078 | (32,075 | ) | 54,003 | ||||||||
|
Cost of revenue: |
||||||||||||
|
Product |
13,956 | 5,082 | 19,038 | |||||||||
|
Service |
25,516 | (22,832 | ) | 2,684 | ||||||||
|
Total cost of revenue |
39,472 | (17,750 | ) | 21,722 | ||||||||
|
Gross profit |
46,606 | (14,325 | ) | 32,281 | ||||||||
|
Operating expenses: |
||||||||||||
|
Research and development |
13,881 | (4,511 | ) | 9,370 | ||||||||
|
Sales and marketing |
34,964 | (8,106 | ) | 26,858 | ||||||||
|
General and administrative |
23,181 | (4,145 | ) | 19,036 | ||||||||
|
Change in fair value of contingent purchase price consideration |
(1,208 | ) | — | (1,208 | ) | |||||||
|
Intangible assets impairment charges |
1,765 | — | 1,765 | |||||||||
|
Total operating expenses |
72,583 | (16,762 | ) | 55,821 | ||||||||
|
Loss from operations |
(25,977 | ) | 2,437 | (23,540 | ) | |||||||
|
Other income (expense): |
— | |||||||||||
|
Interest expense, net |
(864 | ) | — | (864 | ) | |||||||
|
Foreign exchange gains |
1,364 | — | 1,364 | |||||||||
|
Other expense |
(646 | ) | — | (646 | ) | |||||||
|
Loss before income taxes |
(26,123 | ) | 2,437 | (23,686 | ) | |||||||
|
Income tax benefit |
3,774 | — | 3,774 | |||||||||
|
Net loss |
$ | (22,349 | ) | $ | 2,437 | $ | (19,912 | ) | ||||
|
Net loss per ordinary share—basic and diluted |
$ | (1.00 | ) | $ | 0.11 | $ | (0.89 | ) | ||||
|
Weighted-average shares used to compute net loss per ordinary share—basic and diluted |
22,353,713 | 22,353,713 | 22,353,713 | |||||||||
|
(a) |
Amounts are as originally reported in Form 10-K. Amounts include blood donor screening revenue of about $1.5 million and related cost of revenue, despite the Company’s decision to exit this business upon the closing of the Transaction. |
|
(b) |
Amounts reflect adjustments to the Company’s As Reported results of operations, as if the Closing Date of the Transaction had already occurred and the long-term Supply Agreement had been in effect for the full period. |
|
(c) |
Amounts reflect the pro forma results of continuing operations, as if the Closing Date of the Transaction had already occurred and the long-term Supply Agreement had been in effect for the full period. Amounts include blood donor screening revenue of about $1.5 million and related cost of revenue, despite the Company’s decision to exit this business upon the closing of the Transaction. |
9