Acorda therapeutics, inc. (ACOR)
CashFlow / Quarterly
Mar'20Dec'19Sep'19Jun'19Mar'19Dec'18Sep'18Jun'18Mar'18Dec'17Sep'17Jun'17Mar'17Dec'16Sep'16Jun'16Mar'16Dec'15Sep'15Jun'15Mar'15Dec'14Sep'14Jun'14Mar'14Dec'13Sep'13Jun'13Mar'13Dec'12Sep'12Jun'12Mar'12Dec'11Sep'11Jun'11Mar'11Dec'10Sep'10Jun'10Mar'10
Cash flows from operating activities:
Net loss

-6,472

65,660

-263,535

-27,486

-47,605

9,595

-13,911

46,197

-8,199

-171,064

-25,196

-8,195

-18,904

-3,094

-13,031

-18,958

-520

9,205

3,941

997

-3,085

330

11,952

4,687

703

6,191

7,478

3,911

-1,139

132,973

9,594

4,545

7,846

12,694

18,868

-285

-672

3,671

12,438

-6,763

-21,115

Adjustments to reconcile net loss to net cash (used in) provided by operating activities:
Recognition of deferred product revenue - Zanaflex

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

0

-371

-

-

-

-

Share-based compensation expense

1,976

2,756

3,293

4,534

3,667

5,006

5,134

5,245

5,867

7,550

6,648

10,744

7,872

8,994

9,960

9,273

8,159

8,719

8,914

8,708

7,126

8,793

7,271

7,616

5,757

7,138

6,530

6,538

4,933

6,069

5,565

5,593

4,191

5,456

5,056

5,036

3,755

5,220

4,787

4,584

3,186

Amortization of net premiums and discounts on investments

47

322

324

480

521

610

729

-14

92

-

-

-

-

0

0

28

-495

-5,738

938

883

551

-6,670

1,612

752

735

752

605

583

586

682

964

1,229

1,507

1,717

1,573

1,597

1,863

1,582

817

855

1,219

Amortization of debt discount and debt issuance costs

4,054

3,522

3,705

3,780

4,717

3,905

3,944

3,970

4,003

3,235

2,553

3,785

2,580

2,559

2,594

2,360

2,204

2,179

2,153

2,127

2,103

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Amortization of revenue interest issuance cost

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

8

1

6

8

7

4

8

13

9

12

16

9

13

15

30

16

25

27

36

16

22

28

30

Depreciation and amortization expense

10,077

9,876

9,819

10,028

4,850

2,361

2,470

3,338

3,310

5,750

5,761

6,076

5,647

5,807

5,859

5,967

3,949

3,859

3,662

3,784

3,707

3,098

1,751

1,865

1,759

2,376

1,711

1,512

1,400

1,613

1,098

1,040

912

1,417

1,033

1,036

1,139

1,133

1,037

943

838

Changes in fair value of acquired contingent consideration

-

-

-

-

-

-

-

-

-

-

-

-

-

-

3,700

2,000

6,200

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Gain on put/call liability

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

167

0

-20

-147

0

247

82

225

-43

-16

535

-

-

-

-

-

-

-

-

Unrealized foreign currency transaction loss

-

-

-

-

-

-

-

-

-

-

0

0

-247

-

0

195

10,289

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Intangible asset impairment

4,131

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Change in acquired contingent consideration obligation

-3,682

-30,593

-50,942

-12,800

7,400

33,100

22,700

-7,000

6,200

23,822

-400

6,400

10,800

-

-

-

-

3,500

3,200

1,100

3,100

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Non-cash royalty revenue

3,016

2,715

2,571

2,518

2,467

2,465

2,500

2,544

2,782

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Deferred tax (benefit) provision

6,796

1,689

-116

-2,459

-1,092

-57,070

29,932

12,926

-293

-70,790

18,364

3,055

-4,673

-668

594

-944

-10,172

-12,886

17,770

1,129

-2,038

-6,760

4,578

6,042

2,821

3,457

3,724

4,111

-1,772

-

-

-

-

-

-

-

-

-

-

-

-

Change in derivative liability

26,528

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Changes in assets and liabilities:
Decrease in accounts receivable

-7,114

4,530

-3,457

357

-2,777

-28,030

-12,900

13,574

-30,616

27,607

-1,820

5,336

-2,011

2,947

2,690

4,172

10,156

-289

1,958

-754

-1,659

7,419

-2,235

-2,239

-1,518

5,785

-2,056

3,767

-3,039

3,100

-380

2,081

-1,302

2,220

-2,809

-378

1,523

4,043

24,677

-9,982

-2,205

(Increase) decrease in prepaid expenses and other current assets

16,548

-714

3,658

-9,781

-7,602

10,083

3,679

105

1,535

-1,831

2,191

-3,308

-497

-1,084

-3,824

2,312

-4,308

2,406

-5,253

655

3,190

1,568

977

2,569

-1,031

1,685

-2,679

-812

2,183

-1,179

-403

-916

5,459

-1,359

3,091

349

1,294

1,164

1,573

1,446

-2,291

Increase in inventory

345

-2,174

-690

-3,380

2,451

18,261

-10,346

-6,516

-9,839

-2,239

-4,044

-2,140

2,918

2,201

-14,618

15,886

3,191

-10,362

-2,365

3,370

18,996

-390

-4,176

277

5,010

-39

-5,512

3,146

7,674

1,768

-10,088

881

357

-1,361

-11,463

-2,515

6,363

12,153

32,943

3,447

-16,808

Decrease in non-current portion of deferred cost of license revenue

-

-

-

-

-

-

-

-

-

-158

-159

-158

-159

-158

-159

-158

-159

-158

-159

-158

-159

-158

-159

-158

-159

-158

-159

-158

-159

-158

-159

-158

-159

-158

-159

-158

-133

-165

-825

165

165

Decrease in inventory held by others

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

11

-10

-29

-28

-34

-24

-42

-45

-53

-85

-126

-81

-26

-913

-135

14

84

-532

151

88

Decrease in other assets

-17

-

-

-

-

-9

-8

-9

-8

-7,748

-314

509

3,415

-

-

-

-

-

-

-

-

-9

-8

-9

-8

-9

-8

-9

-8

3,665

-8

4

92

-

-

-

-

-

-

-

-

Decrease in accounts payable, accrued expenses and other current liabilities

-15,920

-4,423

-1,558

-541

-54,042

2,020

11,528

1,235

-18,271

27,458

2,672

-9,136

-23,093

28,013

-17,605

15,248

11,969

974

338

-9,595

7,099

7,448

5,598

1,908

-1,774

7,696

-9,539

-432

-3,510

16,597

-6,185

7,475

-6,144

12,703

-8,393

-3,202

-7,216

8,403

18,321

-17,623

15,605

Decrease in non-current portion of deferred license revenue

-

-

-

-

-

-

-

-

-

-2,264

-2,264

-6,793

2,264

-15,850

2,265

2,264

2,264

-15,850

2,265

2,264

2,264

15,850

-2,265

-2,264

-2,264

15,850

-2,265

-2,264

-2,264

-2,264

-2,265

-2,264

-2,264

-2,264

-2,265

-2,264

-1,893

-2,357

-2,357

-2,357

-2,357

(Decrease) increase in revenue interest liability interest payable

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

66

-149

-41

83

535

-162

-348

-74

-124

124

92

105

67

7

421

-846

-17

181

659

-413

-223

-55

615

Decrease in current portion of deferred license revenue

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

0

Decrease in other non-current liabilities

-387

-175

-172

247

-331

-38

29

31

30

1,389

33

34

35

-

-

-

4

-

-

-

-

-328

9

9

9

-

-

-

-

138

357

-2,375

1,858

-

-

-

-

-

-

-

-

Decrease in deferred product revenueZanaflex

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

1

-29

717

300

95

-53

1,755

873

-870

-1,135

-466

-345

-

-

-

-

1,089

-99

-125

-168

-

1,089

-126

-457

Increase (decrease) in deferred product revenue-Zanaflex

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

444

-

-345

2,186

529

-1,463

1,826

-415

-540

(Increase) decrease in restricted cash

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

-190

-5,842

83

239

-342

4,846

12

194

-259

-18

141

95

7

-346

-

-

-

-

-

-

-

-

-

-

-

-

Net cash used in operating activities

-38,779

-11,429

-24,351

-14,891

-77,496

-12,338

78,172

56,258

28,701

60,533

51,763

10,259

-25,419

26,777

5,725

-9,550

6,697

22,325

22,156

3,250

-9,250

13,217

38,420

18,707

4,305

19,190

19,442

8,308

-7,655

16,741

20,015

12,351

3,012

32,970

42,760

2,728

-12,122

1,588

29,245

-26,021

-24,027

Cash flows from investing activities:
Purchases of property and equipment

2,245

14,012

19,144

32,615

24,655

10,780

11,755

5,986

4,807

3,318

1,623

2,974

5,773

1,559

2,129

1,467

1,037

896

968

1,486

2,571

2,754

940

448

942

380

935

1,668

1,060

1,217

2,749

3,314

3,104

960

151

338

743

239

833

918

456

Purchases of intangible assets

-

-

-

-

-

212

213

157

5

394

87

131

76

411

94

-18

406

364

209

420

152

1,122

291

88

1,198

603

854

1,023

641

1,329

927

282

656

2,732

251

448

164

104

99

183

6,612

Purchases of investments

-

55,156

63,532

59,214

48,685

57,455

43,281

41,604

106,767

-

-

-

-

1

-7

7

40,214

74,702

83,981

106,424

169,563

0

316,533

170,051

93,797

93,391

68,497

32,070

27,471

89,822

94,744

72,493

65,396

62,747

68,478

92,699

42,812

93,093

93,197

93,552

31,113

Proceeds from maturities of investments

13,288

125,166

79,400

56,723

55,219

-

-

-

-

-

-

-

-

2

-7,000

7,000

239,966

107,000

75,000

118,250

56,250

586,990

55,000

44,000

84,500

76,500

54,500

32,000

28,000

76,500

53,500

73,000

61,750

47,500

22,000

58,500

99,500

49,500

69,750

109,750

96,750

Net cash provided by (used in) investing activities

11,043

55,998

-3,276

-35,106

-18,121

-14,829

-2,710

-47,747

-111,579

-49

-1,710

-3,105

-5,849

-316

-2,223

-269,556

198,309

31,038

-10,158

9,920

-116,036

106,963

-262,764

-126,587

-11,437

-17,874

-23,285

-2,761

-1,172

-15,868

-44,920

-3,089

-7,406

-18,939

-46,880

-34,985

55,781

-43,936

-24,379

15,097

58,569

Debt issuance costs

981

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Proceeds from issuance of common stock and option exercises

-

0

0

0

24

220

2,251

9,360

3,367

3,478

1,527

0

5,474

847

622

822

73,229

10,096

1,732

1,527

4,741

8,387

3,253

713

3,662

603

7,543

2,737

1,903

1,418

550

422

1,949

146

283

3,141

392

372

2,426

1,464

4,108

Refund of deposit for purchase of noncontrolling interest

-

-

-

-

-

-

-

-

-

-

0

0

2,722

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Purchase of treasury stock

-

0

0

39

52

157

0

385

1,202

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Repayment of loans payable

597

0

0

0

614

1

0

0

656

0

0

184

2,225

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Repayments of revenue interest liability

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

16

25

286

90

15

110

110

92

148

212

239

136

269

265

441

336

267

209

608

413

706

235

5,459

555

604

232

Net cash used in financing activities

-1,578

-59,869

0

-39

-642

62

2,251

8,975

1,509

54,265

1,527

-244

5,971

804

-12,915

-15,162

73,204

10,004

1,642

1,512

4,631

8,648

3,086

338,124

3,450

455

7,407

2,468

1,638

977

214

155

1,740

-462

-130

2,435

157

-5,416

1,871

860

3,876

Effect of exchange rate changes on cash, cash equivalents and restricted cash

-15

327

-305

217

-177

-174

-154

-462

378

165

154

545

361

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Net decrease in cash, cash equivalents and restricted cash

-29,330

-14,973

-27,932

-49,819

-96,436

-27,279

77,559

17,024

-80,991

114,914

51,734

7,455

-24,936

24,900

-9,460

-294,014

278,210

63,367

13,640

14,682

-120,655

128,829

-221,258

230,244

-3,682

1,771

3,564

8,015

-7,189

1,850

-24,691

9,417

-2,654

13,569

-4,250

-29,822

43,816

-47,764

6,737

-10,064

38,418

Supplemental disclosure:
Cash paid for interest

12

3,019

0

3,019

18

3,019

0

3,019

26

3,019

0

3,018

29

3,019

0

3,019

21

2,939

293

3,523

463

3,369

447

291

415

327

636

593

466

241

267

310

304

1,010

917

1,048

429

931

1,113

1,196

541

Cash paid for taxes

63

229

1,537

1,006

19

4,044

3,111

13,089

465

3,566

3,681

5,767

1,915

686

986

2,421

157

2,545

829

580

743

2,563

615

754

460

888

405

606

731

1,609

304

628

165

1,025

34

15

102

-

-

-

-