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SEC Filings

10-K
SERES THERAPEUTICS, INC. filed this Form 10-K on 03/06/2019
Entire Document
 

 

SERES THERAPEUTICS, INC.

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

(amounts in thousands, except share and per share data)

 

 

Income Taxes

The adoption of ASC 606 resulted in an increase to deferred revenue, which in turn generated an additional deferred tax asset that increased the Company’s net deferred tax asset position. As the Company fully reserves its net deferred tax assets, the impact was offset by the valuation allowance.

Contract Balances from Contracts with Customers

The following table presents changes in the Company’s contract liabilities during the twelve months ended December 31, 2018:

 

 

 

Balance as of

January 1, 2018

 

 

Additions

 

 

Deductions

 

 

Balance as of

December

31, 2018

 

Year ended December 31, 2018

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Contract liabilities:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Deferred revenue

 

 

123,783

 

 

 

40,393

 

 

 

(26,917

)

 

 

137,259

 

 

During the twelve months ended December 31, 2018 we recognized the following revenues as a result of changes in the contract liability balances in the respective periods:

 

 

 

Year Ended December 31,

 

 

 

2018

 

Revenue recognized in the period from:

 

 

 

 

Amounts included in the contract liability at the beginning

   of the period

 

 

15,774

 

 

When consideration is received, or such consideration is unconditionally due, from a customer prior to transferring goods or services to the customer under the terms of a contract, a contract liability is recorded. Revenue is recognized from the contract liability over time using the cost-to-cost method.

 

 

10.

Net Loss per Share

Basic and diluted net loss per share attributable to common stockholders was calculated as follows:

 

 

 

Year Ended December 31,

 

 

 

2018

 

 

2017

 

 

2016

 

Numerator:

 

 

 

 

 

 

 

 

 

 

 

 

Net loss attributable to common stockholders

 

$

(98,942

)

 

$

(89,380

)

 

$

(91,579

)

Denominator:

 

 

 

 

 

 

 

 

 

 

 

 

Weighted average common shares outstanding,

   basic and diluted

 

 

40,743,492

 

 

 

40,449,410

 

 

 

39,846,928

 

Net loss per share attributable to common

   stockholders, basic and diluted

 

$

(2.43

)

 

$

(2.21

)

 

$

(2.30

)

 

F-25



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