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Novan Balance Sheet 2022-2011 | NOVN
Brief overview of Novan's balance sheet strength
The comparison uses five available annual reports from the 2018–2022 interval.
Total assets increased by +242.7%, from $26.4 million to $90.3 million. A CAGR near 36.1% points to substantial expansion.
Liabilities grew faster than assets: +330.3% versus +242.7%. A substantial part of expansion was externally funded.
The equity ratio equals 5.1%, with a starting level of 24.4%. Stable cash flow is important under this structure.
The period ended with net cash: net debt stood at -$8.4 million. This supports financial flexibility.
Cash equals 13.6% of the balance sheet, compared with 31.1% five periods ago. This is the readily available cushion.
The accumulated result is -$310.3 million and remains below zero. The number alone does not explain whether losses, dividends or repurchases were the main cause.
Conclusion
Novan has limited balance sheet resilience and depends heavily on cash generation and refinancing capacity.
Annual Balance Sheet Novan
| 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | 2012 | 2011 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
Net Debt |
-8.39 M | -43.5 M | -34.9 M | -7.45 M | -8.17 M | -2.49 M | -34.6 M | -45.7 M | -7.4 M | -720 K | - | - |
Long Term Debt |
3.74 M | 3.61 M | 478 K | - | 10 K | - | - | - | - | 20 K | - | - |
Long Term Debt Current |
191 K | - | 478 K | 1.16 M | 11 K | - | - | - | - | - | - | - |
Total Non Current Liabilities |
- | - | 35.2 M | 40 M | 12.1 M | 14.9 M | 8.03 M | 105 M | 37.7 M | 10 K | - | - |
Total Current Liabilities |
46.4 M | 11.2 M | 8.7 M | 12.9 M | 9.06 M | 8.88 M | 13.4 M | 5.1 M | - | - | - | - |
Total Liabilities |
85.7 M | 50.6 M | 43.9 M | 51.4 M | 19.9 M | 22.8 M | 21.4 M | 5.1 M | 39.5 M | 1.36 M | - | - |
Deferred Revenue |
2.59 M | 2.59 M | 2.99 M | 4.43 M | 4.4 M | 2.16 M | - | - | - | - | - | - |
Retained Earnings |
-310 M | -279 M | -249 M | -220 M | -189 M | -160 M | -123 M | -63.3 M | -29.9 M | -18.6 M | - | - |
Total Assets |
90.3 M | 69 M | 46.8 M | 29.1 M | 26.4 M | 21.1 M | 52.5 M | 49.8 M | 9.93 M | 3.11 M | - | - |
Cash and Cash Equivalents |
12.3 M | 47.1 M | 35.9 M | 13.7 M | 8.19 M | 2.52 M | 34.6 M | 45.7 M | - | - | - | - |
Book Value |
4.6 M | 18.3 M | 2.98 M | -22.3 M | 6.44 M | -1.72 M | 31.1 M | 44.7 M | -29.5 M | 1.75 M | - | - |
Total Shareholders Equity |
4.6 M | 18.3 M | 2.98 M | -22.3 M | 6.44 M | -1.72 M | 31.1 M | -60.1 M | -29.5 M | - | - | - |
All numbers in USD currency
Quarterly Balance Sheet Novan
| 2023-Q1 | 2022-Q4 | 2022-Q3 | 2022-Q2 | 2022-Q1 | 2021-Q4 | 2021-Q3 | 2021-Q2 | 2021-Q1 | 2020-Q4 | 2020-Q3 | 2020-Q2 | 2020-Q1 | 2019-Q4 | 2019-Q3 | 2019-Q2 | 2019-Q1 | 2018-Q4 | 2018-Q3 | 2018-Q2 | 2018-Q1 | 2017-Q4 | 2017-Q3 | 2017-Q2 | 2017-Q1 | 2016-Q4 | 2016-Q3 | 2016-Q2 | 2016-Q1 | 2015-Q4 | 2015-Q3 | 2015-Q2 | 2015-Q1 | 2014-Q4 | 2014-Q3 | 2014-Q2 | 2014-Q1 | 2013-Q4 | 2013-Q3 | 2013-Q2 | 2013-Q1 | 2012-Q4 | 2012-Q3 | 2012-Q2 | 2012-Q1 | 2011-Q4 | 2011-Q3 | 2011-Q2 | 2011-Q1 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Long Term Debt |
3.39 M | 3.74 M | 3.8 M | 16.5 M | 16.5 M | 3.61 M | - | - | 120 K | 478 K | 837 K | 956 K | 4.95 M | - | 5.25 M | 5.4 M | 5.54 M | 10 K | 10 K | 10 K | 10 K | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
Total Liabilities |
82.6 M | 85.7 M | 76.5 M | 102 M | 106 M | 50.6 M | 47.7 M | 47.4 M | 46.1 M | 43.9 M | 39.1 M | 46.9 M | 48.9 M | 51.4 M | 64.3 M | 67.7 M | 24.2 M | 19.9 M | 32 M | 34.4 M | 34.9 M | 22.8 M | 23.9 M | 25.7 M | 27.8 M | 21.4 M | 27 M | 21.4 M | 21.4 M | 5.1 M | 5.1 M | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
Deferred Revenue |
2.59 M | 2.59 M | 2.59 M | 2.59 M | 5.82 M | 2.59 M | 2.59 M | 2.99 M | 2.99 M | 2.99 M | 4.4 M | 4.4 M | 4.4 M | 4.43 M | 4.4 M | 4.4 M | 4.4 M | 4.4 M | 2.6 M | 2.6 M | 2.64 M | 2.63 M | 2.14 M | 2.41 M | 2.4 M | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
Retained Earnings |
-324 M | -310 M | -307 M | -301 M | -292 M | -279 M | -271 M | -264 M | -258 M | -249 M | -243 M | -234 M | -226 M | -220 M | -206 M | -198 M | -180 M | -189 M | -179 M | -172 M | -165 M | -160 M | -152 M | -145 M | -135 M | -123 M | -110 M | -123 M | -123 M | -63.3 M | -63.3 M | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
Total Assets |
79.8 M | 90.3 M | 83.3 M | 114 M | 112 M | 69 M | 73.9 M | 79.7 M | 47 M | 46.8 M | 46.6 M | 46.9 M | 36.5 M | 29.1 M | 36.7 M | 47.5 M | 21.8 M | 26.4 M | 29.7 M | 38.7 M | 46.3 M | 21.1 M | 29.1 M | 37.5 M | 48.6 M | 52.5 M | 70.4 M | 52.5 M | 52.5 M | 49.8 M | 49.8 M | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
Cash and Cash Equivalents |
12.5 M | 12.3 M | 14.9 M | 37.3 M | 35.5 M | 47.1 M | 60 M | 65.8 M | 32.7 M | 35.9 M | 43.1 M | 35.5 M | 21.8 M | 13.7 M | 15.5 M | 22.4 M | 6.08 M | 8.19 M | 12.2 M | 21 M | 28.1 M | 2.52 M | 11 M | 19.1 M | 30.1 M | 34.6 M | 55.7 M | 34.6 M | 34.6 M | 45.7 M | 45.7 M | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
Book Value |
-2.83 M | 4.6 M | 6.76 M | 12.2 M | 5.88 M | 18.3 M | 26.2 M | 32.3 M | 850 K | 2.98 M | 7.45 M | -37 K | -12.4 M | -22.3 M | -27.6 M | -20.2 M | -2.36 M | 6.44 M | -2.3 M | 4.35 M | 11.4 M | -1.72 M | 5.2 M | 11.7 M | 20.7 M | 31.1 M | 43.4 M | 31.1 M | 31.1 M | 44.7 M | 44.7 M | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
Total Shareholders Equity |
-2.83 M | 4.6 M | 6.76 M | 12.2 M | 5.88 M | 18.3 M | 26.2 M | 32.3 M | 850 K | 2.98 M | 7.45 M | -37 K | -12.4 M | -22.3 M | -27.6 M | -20.2 M | -2.36 M | 6.44 M | -2.3 M | 4.35 M | 11.4 M | -1.72 M | 5.2 M | 11.7 M | 20.7 M | 31.1 M | 43.4 M | 31.1 M | 31.1 M | -60.1 M | -60.1 M | - | - | -29.5 M | - | - | - | -18.4 M | - | - | - | - | - | - | - | - | - | - | - |
All numbers in USD currency
Balance Sheet is a fundamental financial report of Novan, providing a complete picture of the company’s financial position at a specific point in time. Unlike the income statement, which records the results of operations over a certain period, the balance sheet shows what assets the company owns, what liabilities it has to creditors, and what equity is available to the owners.
For an investor, the balance sheet is important because it allows assessing the company’s financial stability, understanding how much debt it carries, and how dependent it is on borrowed financing. It helps calculate key liquidity and leverage ratios. When analyzing, attention should be paid to the debt-to-equity ratio (Debt/Equity), the amount of cash on the balance sheet, and the ratio of current liabilities to liquid assets.
Features of balance sheet analysis- Vertical and horizontal analysis
Vertical analysis shows the structure of the balance sheet as a percentage of total assets or liabilities, while horizontal analysis shows the dynamics of changes over multiple periods. - Asset quality
It is important to evaluate not only the amount of assets but also their liquidity and realizability. - Accounting for off-balance sheet liabilities
Some liabilities may not be directly reflected in the balance sheet, which requires additional attention.
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