NTLAIntellia Therapeutics, Inc.
In Vitro & In Vivo Diagnostic Substances
- Revenue
- $68M
- 17% YoY
- Operating margin
- -651.7%
- 29% YoY
- EBITDA
- −$431M
- 18% YoY
- Market cap
- $1.7B
- Employees
- 50,000
- $1K revenue each
- Net debt / EBITDA
- —
- AI in 10-K
- 2.6
- mentions per 10K words
Takeover score 5 of 13
Fixable underperformance 3 of 7
- TSR below peersYes4 of 5 years3+ of last 5 years
- High CEO pay despite TSRNo$10M medianMedian CEO pay ≥ $15M while TSR trails
- Earnings not backed by cashNo—Cash flow under 80% of net income
- Dilutive SBCYes119% of revenueOver 10% of revenue
- Payouts exceed cash flowNo0% of cash flowBuybacks + dividends over cash flow
- Goodwill-heavyNo—Over 40% of assets
- Shareholder dissentYes76% lowest supportAny vote under 80% support
Buyer economics 2 of 4
- Low revenue per employeeYes$1K · 11th pctBottom quartile of its SIC industry
- Quiet on AINo2.6 per 10K words · 64th pctBottom quartile of AI mentions in 10-Ks
- Net cashNo—More cash than debt, positive EBITDA
- Buyout-sizedYes$1.7B market capMarket cap $500M–$5B
Catalysts 0 of 2
- Active 13DNo0 filingsActive-intent 13D in 18 months
- Net insider sellingNo−$761K netNet sales over $10M in 12 months
Financials
| Metric | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 | YoY |
|---|---|---|---|---|---|---|
| Revenue | $33M | $52M | $36M | $58M | $68M | 17% |
| Operating income | −$268M | −$458M | −$515M | −$534M | −$441M | 17% |
| Net income | −$268M | −$474M | −$481M | −$519M | −$413M | 20% |
| Operating cash flow | −$225M | −$333M | −$394M | −$349M | −$395M | 13% |
| Capex | $13M | $14M | $14M | $6M | $1M | 80% |
| Stock-based comp | $47M | $91M | $134M | $154M | $80M | 48% |
Deal filings
None.
13D filers
| Filed | Filer | Form | Stake | Intent |
|---|---|---|---|---|
| Jan 22, 2021 | Novartis Institutes for BioMedical Research, Inc. | SC 13D/A | 3.7% | Passive |
| Aug 20, 2020 | Novartis Institutes for BioMedical Research, Inc. | SC 13D/A | 7.4% | Passive |
| Mar 30, 2020 | Novartis Institutes for BioMedical Research, Inc. | SC 13D/A | 8.6% | Passive |
Insider trading
- Open-market buys, 12 mo
- $1M · 1
- Open-market sells, 12 mo
- $2M · 18
- Net
- −$761K
Pay vs performance
| Year | CEO total comp | Comp actually paid | TSR (indexed) | Peer TSR |
|---|---|---|---|---|
| FY2025 | $5M | $3M | 17 | 187 |
| FY2024 | $15M | $353K | 21 | 154 |
| FY2023 | $12M | $8M | 56 | 119 |
| FY2022 | $10M | −$14M | 64 | 82 |
| FY2021 | $10M | $38M | 217 | 122 |