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6-K Filing

ADC Therapeutics SA CIK: 1771910 Q1 2023
Filing Information
Form Type 6-K
Accession Number 0001628280-23-016603
Period End Date 20230331
Filing Date 20230509
Fiscal Year 2023
Fiscal Period Q1
XBRL Instance adc-20230331_htm.xml
Balance Sheet 74 line items
Line Item Tag Value Unit Period
Cash and cash equivalents CashAndCashEquivalents $466.54M USD Point-in-time
Cash and cash equivalents CashAndCashEquivalents $326.44M USD Point-in-time
Cash and cash equivalents CashAndCashEquivalents $430.87M USD Point-in-time
Cash and cash equivalents CashAndCashEquivalents $310.55M USD Point-in-time
Accounts receivable, net TradeAndOtherCurrentReceivables $72.97M USD Point-in-time
Accounts receivable, net TradeAndOtherCurrentReceivables $24.04M USD Point-in-time
Inventory Inventories $18.56M USD Point-in-time
Inventory Inventories $18.25M USD Point-in-time
Other current assets OtherCurrentAssets $27.17M USD Point-in-time
Other current assets OtherCurrentAssets $28.04M USD Point-in-time
Total current assets CurrentAssets $446.01M USD Point-in-time
Total current assets CurrentAssets $380.01M USD Point-in-time
Property, plant and equipment PropertyPlantAndEquipment $3.26M USD Point-in-time
Property, plant and equipment PropertyPlantAndEquipment $4.48M USD Point-in-time
Right-of-use assets RightofuseAssets $11.22M USD Point-in-time
Right-of-use assets RightofuseAssets $6.72M USD Point-in-time
Right-of-use assets RightofuseAssets $6.73M USD Point-in-time
Intangible assets IntangibleAssetsOtherThanGoodwill $14.36M USD Point-in-time
Intangible assets IntangibleAssetsOtherThanGoodwill $13.85M USD Point-in-time
Intangible assets IntangibleAssetsOtherThanGoodwill $13.59M USD Point-in-time
Interest in joint venture InvestmentsInJointVenturesAccountedForUsingEquityMethod $31.15M USD Point-in-time
Interest in joint venture InvestmentsInJointVenturesAccountedForUsingEquityMethod $29.53M USD Point-in-time
Deferred tax asset NetDeferredTaxAssets $27.61M USD Point-in-time
Deferred tax asset NetDeferredTaxAssets $26.76M USD Point-in-time
Other long-term assets OtherNoncurrentAssets $1.23M USD Point-in-time
Other long-term assets OtherNoncurrentAssets $903.00K USD Point-in-time
Total non-current assets NoncurrentAssets $83.15M USD Point-in-time
Total non-current assets NoncurrentAssets $87.67M USD Point-in-time
Total assets Assets $467.67M USD Point-in-time
Total assets Assets $529.17M USD Point-in-time
Accounts payable TradeAndOtherCurrentPayables $12.35M USD Point-in-time
Accounts payable TradeAndOtherCurrentPayables $8.69M USD Point-in-time
Other current liabilities CurrentAccruedExpensesAndOtherCurrentLiabilities $57.41M USD Point-in-time
Other current liabilities CurrentAccruedExpensesAndOtherCurrentLiabilities $73.03M USD Point-in-time
Lease liabilities, short-term CurrentLeaseLiabilities $1.45M USD Point-in-time
Lease liabilities, short-term CurrentLeaseLiabilities $981.00K USD Point-in-time
Lease liabilities, short-term CurrentLeaseLiabilities $1.10M USD Point-in-time
Senior secured term loans, short-term ShortTermBorrowings $13.53M USD Point-in-time
Senior secured term loans, short-term ShortTermBorrowings $12.47M USD Point-in-time
Total current liabilities CurrentLiabilities $81.09M USD Point-in-time
Total current liabilities CurrentLiabilities $98.96M USD Point-in-time
Warrant obligations NoncurrentWarrantLiability $516.00K USD Point-in-time
Warrant obligations NoncurrentWarrantLiability $1.79M USD Point-in-time
Deferred royalty obligation, long-term DeferredRoyaltyObligationNoncurrent $212.35M USD Point-in-time
Deferred royalty obligation, long-term DeferredRoyaltyObligationNoncurrent $216.55M USD Point-in-time
Deferred gain of joint venture ContingentLiabilitiesIncurredByVenturerInRelationToInterestsInJointVentures $23.54M USD Point-in-time
Deferred gain of joint venture ContingentLiabilitiesIncurredByVenturerInRelationToInterestsInJointVentures $23.54M USD Point-in-time
Lease liabilities, long-term NoncurrentLeaseLiabilities $6.61M USD Point-in-time
Lease liabilities, long-term NoncurrentLeaseLiabilities $6.56M USD Point-in-time
Lease liabilities, long-term NoncurrentLeaseLiabilities $10.96M USD Point-in-time
Other long-term liabilities NoncurrentRecognisedLiabilitiesDefinedBenefitPlan - USD Point-in-time
Other long-term liabilities NoncurrentRecognisedLiabilitiesDefinedBenefitPlan $329.00K USD Point-in-time
Total non-current liabilities NoncurrentLiabilities $348.90M USD Point-in-time
Total non-current liabilities NoncurrentLiabilities $341.48M USD Point-in-time
Total liabilities Liabilities $429.99M USD Point-in-time
Total liabilities Liabilities $440.44M USD Point-in-time
Share capital IssuedCapital $7.31M USD Point-in-time
Share capital IssuedCapital $7.31M USD Point-in-time
Share premium SharePremium $1.01B USD Point-in-time
Share premium SharePremium $1.01B USD Point-in-time
Treasury shares TreasuryShares $645.00K USD Point-in-time
Treasury shares TreasuryShares $679.00K USD Point-in-time
Other reserves OtherReserves $163.50M USD Point-in-time
Other reserves OtherReserves $155.68M USD Point-in-time
Cumulative translation adjustments ReserveOfExchangeDifferencesOnTranslation $-215.00K USD Point-in-time
Cumulative translation adjustments ReserveOfExchangeDifferencesOnTranslation $-356.00K USD Point-in-time
Accumulated losses RetainedEarnings $-1.08B USD Point-in-time
Accumulated losses RetainedEarnings $-1.14B USD Point-in-time
Total equity attributable to owners of the parent Equity $162.67M USD Point-in-time
Total equity attributable to owners of the parent Equity $166.09M USD Point-in-time
Total equity attributable to owners of the parent Equity $37.69M USD Point-in-time
Total equity attributable to owners of the parent Equity $88.73M USD Point-in-time
Total liabilities and equity EquityAndLiabilities $467.67M USD Point-in-time
Total liabilities and equity EquityAndLiabilities $529.17M USD Point-in-time
Income Statement 33 line items
Line Item Tag Value Unit Period
Total revenue RevenueFromContractsWithCustomers $18.99M USD 1 Quarter
Total revenue RevenueFromContractsWithCustomers $46.50M USD 1 Quarter
Cost of product sales CostOfSales $590.00K USD 1 Quarter
Cost of product sales CostOfSales $529.00K USD 1 Quarter
Research and development expenses ResearchAndDevelopmentExpense $39.48M USD 1 Quarter
Research and development expenses ResearchAndDevelopmentExpense $48.95M USD 1 Quarter
Selling and marketing expenses SalesAndMarketingExpense $18.37M USD 1 Quarter
Selling and marketing expenses SalesAndMarketingExpense $15.35M USD 1 Quarter
General and administrative expenses GeneralAndAdministrativeExpense $15.14M USD 1 Quarter
General and administrative expenses GeneralAndAdministrativeExpense $19.01M USD 1 Quarter
Total operating expense OperatingExpense $86.86M USD 1 Quarter
Total operating expense OperatingExpense $70.56M USD 1 Quarter
Loss from operations ProfitLossFromOperatingActivities $-51.57M USD 1 Quarter
Loss from operations ProfitLossFromOperatingActivities $-40.36M USD 1 Quarter
Financial income FinanceIncome $18.31M USD 1 Quarter
Financial income FinanceIncome $2.30M USD 1 Quarter
Financial expense FinanceCosts $9.22M USD 1 Quarter
Financial expense FinanceCosts $10.42M USD 1 Quarter
Non-operating (expense) income OtherNonOperatingIncome $13.44M USD 1 Quarter
Non-operating (expense) income OtherNonOperatingIncome $-3.00K USD 1 Quarter
Total other (expense) income OtherNonOperatingIncomeExpense $22.53M USD 1 Quarter
Total other (expense) income OtherNonOperatingIncomeExpense $-8.12M USD 1 Quarter
Loss before taxes ProfitLossBeforeTax $-59.69M USD 1 Quarter
Loss before taxes ProfitLossBeforeTax $-17.83M USD 1 Quarter
Income tax benefit IncomeTaxExpenseContinuingOperations $-262.00K USD 1 Quarter
Income tax benefit IncomeTaxExpenseContinuingOperations $-1.17M USD 1 Quarter
Net loss ProfitLoss $-59.43M USD 1 Quarter
Net loss ProfitLoss $-16.66M USD 1 Quarter
Owners of the parent ProfitLossAttributableToOwnersOfParent $-16.66M USD 1 Quarter
Net loss per share, basic (in USD per share) BasicEarningsLossPerShare $-0.22 USD 1 Quarter
Net loss per share, basic (in USD per share) BasicEarningsLossPerShare $-0.74 USD 1 Quarter
Net loss per share, diluted (in dollars per share) DilutedEarningsLossPerShare $-0.74 USD 1 Quarter
Net loss per share, diluted (in dollars per share) DilutedEarningsLossPerShare $-0.22 USD 1 Quarter
Cash Flow Statement 88 line items
Line Item Tag Value Unit Period
Loss for the period ProfitLoss $-59.43M USD 1 Quarter
Loss for the period ProfitLoss $-16.66M USD 1 Quarter
Share-based compensation expense AdjustmentsForSharebasedPayments $8.07M USD 1 Quarter
Share-based compensation expense AdjustmentsForSharebasedPayments $13.40M USD 1 Quarter
Impairments of assets ImpairmentLossReversalOfImpairmentLossRecognisedInProfitOrLoss - USD 1 Quarter
Impairments of assets ImpairmentLossReversalOfImpairmentLossRecognisedInProfitOrLoss $146.00K USD 1 Quarter
Depreciation of property, plant and equipment AdjustmentsForDepreciationExpensePropertyPlantAndEquipment $261.00K USD 1 Quarter
Depreciation of property, plant and equipment AdjustmentsForDepreciationExpensePropertyPlantAndEquipment $249.00K USD 1 Quarter
Amortization of intangible assets AdjustmentsForAmortisationExpense $26.00K USD 1 Quarter
Amortization of intangible assets AdjustmentsForAmortisationExpense $52.00K USD 1 Quarter
Impairment of intangible assets ImpairmentLossRecognisedInProfitOrLossIntangibleAssetsOtherThanGoodwill $743.00K USD 1 Quarter
Impairment of intangible assets ImpairmentLossRecognisedInProfitOrLossIntangibleAssetsOtherThanGoodwill - USD 1 Quarter
Depreciation of right-of-use assets AdjustmentsForDepreciationExpenseOfRightOfUseAssets $393.00K USD 1 Quarter
Depreciation of right-of-use assets AdjustmentsForDepreciationExpenseOfRightOfUseAssets $307.00K USD 1 Quarter
Gain from reversal of inventory impairment charges AdjustmentsForImpairmentLossReversalOfImpairmentLossRecognisedInProfitOrLossInventories $-361.00K USD 1 Quarter
Gain from reversal of inventory impairment charges AdjustmentsForImpairmentLossReversalOfImpairmentLossRecognisedInProfitOrLossInventories - USD 1 Quarter
Share of results in joint venture ShareOfProfitLossOfJointVenturesAccountedForUsingEquityMethod $-2.50M USD 1 Quarter
Share of results in joint venture ShareOfProfitLossOfJointVenturesAccountedForUsingEquityMethod $-1.36M USD 1 Quarter
Deferred tax asset IncreaseDecreaseInDeferredTaxLiabilityAsset $848.00K USD 1 Quarter
Deferred tax asset IncreaseDecreaseInDeferredTaxLiabilityAsset $3.86M USD 1 Quarter
Change in defined benefit pension liability AdjustmentsForIncreaseDecreaseInNonCurrentNetDefinedBenefitLiability $72.00K USD 1 Quarter
Change in defined benefit pension liability AdjustmentsForIncreaseDecreaseInNonCurrentNetDefinedBenefitLiability - USD 1 Quarter
Convertible loans, derivatives, change in fair value AdjustmentsForGainsLossesOnChangeInFairValueOfDerivatives $15.86M USD 1 Quarter
Convertible loans, derivatives, change in fair value AdjustmentsForGainsLossesOnChangeInFairValueOfDerivatives - USD 1 Quarter
Warrant obligations, change in fair value AdjustmentsForGainsLossesOnChangeInFairValueOfWarrants $1.27M USD 1 Quarter
Warrant obligations, change in fair value AdjustmentsForGainsLossesOnChangeInFairValueOfWarrants - USD 1 Quarter
Employee stock purchase plan deductions AdjustmentsForEmployeeStockPurchasePlan $244.00K USD 1 Quarter
Employee stock purchase plan deductions AdjustmentsForEmployeeStockPurchasePlan - USD 1 Quarter
Financial income AdjustmentsForFinanceIncome $18.31M USD 1 Quarter
Financial income AdjustmentsForFinanceIncome $2.30M USD 1 Quarter
Financial expense AdjustmentsForFinanceCosts $9.16M USD 1 Quarter
Financial expense AdjustmentsForFinanceCosts $10.29M USD 1 Quarter
Exchange differences AdjustmentsForUnrealisedForeignExchangeLossesGains $18.00K USD 1 Quarter
Exchange differences AdjustmentsForUnrealisedForeignExchangeLossesGains $-63.00K USD 1 Quarter
Operating loss before working capital changes CashFlowsFromUsedInOperationsBeforeChangesInWorkingCapital $-42.28M USD 1 Quarter
Operating loss before working capital changes CashFlowsFromUsedInOperationsBeforeChangesInWorkingCapital $-29.37M USD 1 Quarter
Decrease in accounts receivable, net AdjustmentsForDecreaseIncreaseInTradeAccountReceivable $3.47M USD 1 Quarter
Decrease in accounts receivable, net AdjustmentsForDecreaseIncreaseInTradeAccountReceivable $48.90M USD 1 Quarter
Decrease (increase) in other current assets AdjustmentsForDecreaseIncreaseInOtherCurrentAssets $-175.00K USD 1 Quarter
Decrease (increase) in other current assets AdjustmentsForDecreaseIncreaseInOtherCurrentAssets $-355.00K USD 1 Quarter
Decrease (increase) in other current assets AdjustmentsForDecreaseIncreaseInOtherAssets $-1.06M USD 1 Quarter
Decrease (increase) in other current assets AdjustmentsForDecreaseIncreaseInOtherAssets $55.00K USD 1 Quarter
(Decrease) increase in accounts payable AdjustmentsForIncreaseDecreaseInTradeAndOtherPayables $-3.66M USD 1 Quarter
(Decrease) increase in accounts payable AdjustmentsForIncreaseDecreaseInTradeAndOtherPayables $4.38M USD 1 Quarter
Increase in income taxes AdjustmentsForIncomeTaxExpense $587.00K USD 1 Quarter
Increase in income taxes AdjustmentsForIncomeTaxExpense $2.69M USD 1 Quarter
Decrease in other liabilities and other payables AdjustmentsForIncreaseDecreaseInOtherLiabilities $-10.67M USD 1 Quarter
Decrease in other liabilities and other payables AdjustmentsForIncreaseDecreaseInOtherLiabilities $-12.09M USD 1 Quarter
Cash used in operating activities CashFlowsFromUsedInOperations $-30.92M USD 1 Quarter
Cash used in operating activities CashFlowsFromUsedInOperations $-8.66M USD 1 Quarter
Interest paid InterestPaidClassifiedAsOperatingActivities $3.84M USD 1 Quarter
Interest paid InterestPaidClassifiedAsOperatingActivities $1.84M USD 1 Quarter
Interest received InterestReceivedClassifiedAsOperatingActivities $18.00K USD 1 Quarter
Interest received InterestReceivedClassifiedAsOperatingActivities $2.79M USD 1 Quarter
Interest expense on lease obligations InterestExpenseOnLeaseLiabilities $52.00K USD 1 Quarter
Interest expense on lease obligations InterestExpenseOnLeaseLiabilities $126.00K USD 1 Quarter
Payments made under royalty financing transaction PaymentsMadeUnderRoyaltyFinancingTransactions $1.19M USD 1 Quarter
Payments made under royalty financing transaction PaymentsMadeUnderRoyaltyFinancingTransactions $4.88M USD 1 Quarter
Tax paid IncomeTaxesPaidRefundClassifiedAsOperatingActivities $304.00K USD 1 Quarter
Tax paid IncomeTaxesPaidRefundClassifiedAsOperatingActivities - USD 1 Quarter
Net cash used in operating activities CashFlowsFromUsedInOperatingActivities $-14.77M USD 1 Quarter
Net cash used in operating activities CashFlowsFromUsedInOperatingActivities $-33.88M USD 1 Quarter
Payment for purchase of property, plant and equipment PurchaseOfPropertyPlantAndEquipmentClassifiedAsInvestingActivities $996.00K USD 1 Quarter
Payment for purchase of property, plant and equipment PurchaseOfPropertyPlantAndEquipmentClassifiedAsInvestingActivities $229.00K USD 1 Quarter
Payment for purchase of intangible assets PurchaseOfIntangibleAssetsClassifiedAsInvestingActivities $20.00K USD 1 Quarter
Payment for purchase of intangible assets PurchaseOfIntangibleAssetsClassifiedAsInvestingActivities $889.00K USD 1 Quarter
Payment for deposits PaymentForRentDeposits - USD 1 Quarter
Payment for deposits PaymentForRentDeposits $330.00K USD 1 Quarter
Net cash used in investing activities CashFlowsFromUsedInInvestingActivities $-1.45M USD 1 Quarter
Net cash used in investing activities CashFlowsFromUsedInInvestingActivities $-1.02M USD 1 Quarter
Principal portion of lease obligation payments PaymentsOfLeaseLiabilitiesClassifiedAsFinancingActivities $196.00K USD 1 Quarter
Principal portion of lease obligation payments PaymentsOfLeaseLiabilitiesClassifiedAsFinancingActivities $258.00K USD 1 Quarter
Net cash provided by (used in) financing activities CashFlowsFromUsedInFinancingActivities $-196.00K USD 1 Quarter
Net cash provided by (used in) financing activities CashFlowsFromUsedInFinancingActivities $-258.00K USD 1 Quarter
Net decrease in cash and cash equivalents IncreaseDecreaseInCashAndCashEquivalentsBeforeEffectOfExchangeRateChanges $-35.59M USD 1 Quarter
Net decrease in cash and cash equivalents IncreaseDecreaseInCashAndCashEquivalentsBeforeEffectOfExchangeRateChanges $-15.98M USD 1 Quarter
Exchange losses on cash and cash equivalents EffectOfExchangeRateChangesOnCashAndCashEquivalents $-82.00K USD 1 Quarter
Exchange losses on cash and cash equivalents EffectOfExchangeRateChangesOnCashAndCashEquivalents $89.00K USD 1 Quarter
Cash and cash equivalents at beginning of the period CashAndCashEquivalents $466.54M USD Point-in-time
Cash and cash equivalents at beginning of the period CashAndCashEquivalents $326.44M USD Point-in-time
Cash and cash equivalents at beginning of the period CashAndCashEquivalents $430.87M USD Point-in-time
Cash and cash equivalents at beginning of the period CashAndCashEquivalents $310.55M USD Point-in-time
Cash and cash equivalents at end of the period CashAndCashEquivalents $430.87M USD Point-in-time
Cash and cash equivalents at end of the period CashAndCashEquivalents $466.54M USD Point-in-time
Cash and cash equivalents at end of the period CashAndCashEquivalents $326.44M USD Point-in-time
Cash and cash equivalents at end of the period CashAndCashEquivalents $310.55M USD Point-in-time
Capital expenditures and intangible asset acquisitions recorded in Accounts payable CapitalExpendituresIncurredButNotYetPaid - USD 1 Quarter
Capital expenditures and intangible asset acquisitions recorded in Accounts payable CapitalExpendituresIncurredButNotYetPaid $411.00K USD 1 Quarter
Stockholders Equity 25 line items
Line Item Tag Value Unit Period
Equity, beginning balance Equity $162.67M USD Point-in-time
Equity, beginning balance Equity $166.09M USD Point-in-time
Equity, beginning balance Equity $37.69M USD Point-in-time
Equity, beginning balance Equity $88.73M USD Point-in-time
Loss for the period ProfitLoss $-59.43M USD 1 Quarter
Loss for the period ProfitLoss $-16.66M USD 1 Quarter
Translation adjustment OtherComprehensiveIncomeNetOfTaxExchangeDifferencesOnTranslation $141.00K USD 1 Quarter
Translation adjustment OtherComprehensiveIncomeNetOfTaxExchangeDifferencesOnTranslation $-158.00K USD 1 Quarter
Share of other comprehensive loss in joint venture ShareOfOtherComprehensiveIncomeOfAssociatesAndJointVenturesAccountedForUsingEquityMethod $-256.00K USD 1 Quarter
Share of other comprehensive loss in joint venture ShareOfOtherComprehensiveIncomeOfAssociatesAndJointVenturesAccountedForUsingEquityMethod - USD 1 Quarter
Other comprehensive loss for the period OtherComprehensiveIncome $-115.00K USD 1 Quarter
Other comprehensive loss for the period OtherComprehensiveIncome $-158.00K USD 1 Quarter
Total comprehensive loss for the period ComprehensiveIncome $-16.82M USD 1 Quarter
Total comprehensive loss for the period ComprehensiveIncome $-59.54M USD 1 Quarter
Vestings of RSUs IncreaseDecreaseThroughExerciseOfOptions - USD 1 Quarter
Vestings of RSUs IncreaseDecreaseThroughExerciseOfOptions - USD 1 Quarter
Issuance of shares, 2022 Employee Stock Purchase Plan IncreaseDecreaseThroughEmployeeStockPurchasePlan $-425.00K USD 1 Quarter
Share-based compensation expense IncreaseDecreaseThroughSharebasedPaymentTransactions $13.40M USD 1 Quarter
Share-based compensation expense IncreaseDecreaseThroughSharebasedPaymentTransactions $8.07M USD 1 Quarter
Increase (decrease) through transactions with owners, equity IncreaseDecreaseThroughTransactionsWithOwners $8.50M USD 1 Quarter
Increase (decrease) through transactions with owners, equity IncreaseDecreaseThroughTransactionsWithOwners $13.40M USD 1 Quarter
Equity, ending balance Equity $162.67M USD Point-in-time
Equity, ending balance Equity $166.09M USD Point-in-time
Equity, ending balance Equity $37.69M USD Point-in-time
Equity, ending balance Equity $88.73M USD Point-in-time
Comprehensive Income 14 line items
Line Item Tag Value Unit Period
Net loss ProfitLoss $-59.43M USD 1 Quarter
Net loss ProfitLoss $-16.66M USD 1 Quarter
Currency translation differences OtherComprehensiveIncomeNetOfTaxExchangeDifferencesOnTranslation $141.00K USD 1 Quarter
Currency translation differences OtherComprehensiveIncomeNetOfTaxExchangeDifferencesOnTranslation $-158.00K USD 1 Quarter
Share of other comprehensive loss in joint venture ShareOfOtherComprehensiveIncomeOfAssociatesAndJointVenturesAccountedForUsingEquityMethod $-256.00K USD 1 Quarter
Share of other comprehensive loss in joint venture ShareOfOtherComprehensiveIncomeOfAssociatesAndJointVenturesAccountedForUsingEquityMethod - USD 1 Quarter
Total items that may be reclassified to profit and loss OtherComprehensiveIncomeThatWillBeReclassifiedToProfitOrLossNetOfTax $-158.00K USD 1 Quarter
Total items that may be reclassified to profit and loss OtherComprehensiveIncomeThatWillBeReclassifiedToProfitOrLossNetOfTax $-115.00K USD 1 Quarter
Other comprehensive loss for the period OtherComprehensiveIncome $-115.00K USD 1 Quarter
Other comprehensive loss for the period OtherComprehensiveIncome $-158.00K USD 1 Quarter
Total comprehensive loss for the period ComprehensiveIncome $-59.54M USD 1 Quarter
Total comprehensive loss for the period ComprehensiveIncome $-16.82M USD 1 Quarter
Owners of the parent ComprehensiveIncomeAttributableToOwnersOfParent $-16.82M USD 1 Quarter
Owners of the parent ComprehensiveIncomeAttributableToOwnersOfParent $-59.54M USD 1 Quarter

Data is extracted from SEC EDGAR XBRL filings. Values shown are as reported in the filing.

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