Exhibit 12.1
INVITAE CORPORATION
STATEMENT REGARDING COMPUTATION OF RATIOS
(in thousands)
| For the years ended December 31, | For the six months ended June 30, | |||||||||||||||||||||||
| 2013 | 2014 | 2015 | 2016 | 2017 | 2018 | |||||||||||||||||||
Earnings (deficiency): | ||||||||||||||||||||||||
Net loss before provision for income taxes | $ | (24,838 | ) | $ | (47,492 | ) | $ | (89,782 | ) | $ | (100,256 | ) | $ | (125,236 | ) | $ | (67,791 | ) | ||||||
Fixed charges, as calculated below | 262 | 330 | 779 | 2,512 | 6,977 | 4,795 | ||||||||||||||||||
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Earnings (deficiency) | $ | (24,576 | ) | $ | (47,162 | ) | $ | (89,003 | ) | $ | (97,744 | ) | $ | (118,259 | ) | $ | (62,996 | ) | ||||||
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Fixed charges: | ||||||||||||||||||||||||
Interest expense | $ | 56 | $ | 61 | $ | 207 | $ | 412 | $ | 3,165 | $ | 2,654 | ||||||||||||
Amortization of debt issuance cost | — | — | 4 | 9 | 489 | 429 | ||||||||||||||||||
Estimated interest portion of rental expense | 206 | 269 | 568 | 2,091 | 3,323 | 1,712 | ||||||||||||||||||
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Total fixed charges | $ | 262 | $ | 330 | $ | 779 | $ | 2,512 | $ | 6,977 | $ | 4,795 | ||||||||||||
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Ratio of earnings to fixed charges (1) | — | — | — | — | — | — | ||||||||||||||||||
| (1) | Earnings were inadequate to cover fixed charges for the years ended December 31, 2013, 2014, 2015, 2016 and 2017 and the six months ended June 30, 2018 by $24.8 million, $47.5 million, $89.8 million, $100.3 million, $125.2 million and $67.8 million, respectively. |
For the periods presented above, we had no outstanding shares of preferred stock with required dividend payments. Therefore, the ratios of earnings to combined fixed charges and preferred stock dividends are identical to the ratios presented in the table above.
