Revolution Medicines Inc
For the period ended Dec 31, 2023. Filed Feb 26, 2024.
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FY2023 · Filed Feb 26, 2024
RVMD$193.06-3.5%Stored close · as of Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
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Item 8. Consolidated Statements of Cash Flows
CONSOLIDATED STATEM ENTS OF CASH FLOWS
(in thousands)
| Year Ended December 31, | |||
|---|---|---|---|
| 2023 | 2022 | 2021 | |
| Cash flows from operating activities | |||
| Net loss | $(436,367) | $(248,705) | $(187,091) |
| Adjustments to reconcile net loss to net cash used in operating activities: | |||
| Loss on disposal of fixed assets | 52 | 19 | 119 |
| Amortization of intangible assets | 1,068 | 1,069 | 1,069 |
| Stock-based compensation expense | 61,772 | 31,196 | 20,724 |
| Depreciation | 5,042 | 3,972 | 3,083 |
| Change in fair value of warrant liability and contingent earn-out shares | 115 | — | — |
| Net amortization of premium or discount on marketable securities | (22,205) | (3,078) | 3,012 |
| Amortization of operating lease right-of-use asset | 3,199 | 4,615 | 3,180 |
| Changes in operating assets and liabilities: | |||
| Accounts receivable | 3,419 | 1,256 | 464 |
| Prepaid expenses and other current assets | (2,646) | (3,779) | 198 |
| Accounts payable | 32,469 | 7,288 | 2,239 |
| Accrued expenses and other current liabilities | 14,668 | 1,502 | 8,720 |
| Deferred revenue | (4,459) | (14,472) | (1,661) |
| Operating lease liability | (1,532) | (2,428) | (1,468) |
| Deferred tax liability | (3,910) | (419) | — |
| Other noncurrent assets | (1,414) | (2,247) | 81 |
| Other noncurrent liabilities | 157 | (190) | 151 |
| Net cash used in operating activities | (350,572) | (224,401) | (147,180) |
| Cash flows from investing activities | |||
| Purchases of marketable securities | (1,058,916) | (612,769) | (671,335) |
| Maturities of marketable securities | 724,047 | 599,469 | 526,754 |
| Sales of marketable securities | — | — | 8,992 |
| Purchases of property and equipment | (7,729) | (10,816) | (6,528) |
| Net cash used in investing activities | (342,598) | (24,116) | (142,117) |
| Cash flows from financing activities | |||
| Cash, cash equivalents and restricted cash acquired in connection with EQRx Acquisition, net of transaction costs | 840,834 | — | — |
| Proceeds from issuance of common stock, net of issuance costs | 323,706 | 248,126 | 281,145 |
| Proceeds from issuance of common stock from at-the-market offering, net of transaction costs | 62,053 | 49,919 | 10,096 |
| Proceeds from issuance of common stock under equity incentive plans | 3,316 | 1,481 | 1,487 |
| Proceeds from issuance of common stock related to employee stock purchase plan | 3,317 | 1,864 | 1,875 |
| Tax payment for common stock withheld in satisfaction of withholding tax requirements | (4,026) | — | — |
| Payments of deferred offering costs | — | 42 | (424) |
| Net cash provided by financing activities | 1,229,200 | 301,432 | 294,179 |
| Net increase in cash, cash equivalents and restricted cash | 536,030 | 52,915 | 4,882 |
| Cash, cash equivalents and restricted cash - beginning of year | 163,149 | 110,234 | 105,352 |
| Cash, cash equivalents and restricted cash - end of year | $699,179 | $163,149 | $110,234 |
| Reconciliation of cash, cash equivalents and restricted cash to consolidated balance sheets | |||
| Cash and cash equivalents | 696,148 | 161,412 | 108,497 |
| Restricted cash | 3,031 | 1,737 | 1,737 |
| Cash, cash equivalents and restricted cash - end of period | $699,179 | $163,149 | $110,234 |
| Supplemental disclosure of non-cash investing and financing activities | |||
| Issuance of common stock for EQRx acquisition | $1,085,676 | $— | $— |
| Fair value of net assets acquired in connection with EQRx Acquisition | 291,475 | — | — |
| EQRx acquisition transaction costs incurred but not paid | 100 | — | — |
| Vesting of early exercised options and restricted stock | — | 143 | 149 |
| Purchases of property and equipment in accounts payable and accrued expenses and other current liabilities | 2,611 | 1,419 | 1,129 |
| Advance payments for property and equipment | 180 | 82 | — |
| Right-of-use assets obtained in exchange for operating lease liabilities | 25,271 | — | 35,437 |
| Unpaid/deferred offering costs | 2 | 2 | 110 |
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