Acorda therapeutics, inc. (ACOR)
CashFlow / TTM
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

-231,833

-272,966

-329,031

-79,407

-5,724

33,682

-146,977

-158,262

-212,654

-223,359

-55,389

-43,224

-53,987

-35,603

-23,304

-6,332

13,623

11,058

2,183

10,194

13,884

17,672

23,533

19,059

18,283

16,441

143,223

145,339

145,973

154,958

34,679

43,953

39,123

30,605

21,582

15,152

8,674

-11,769

0

0

0

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

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-371

0

0

0

-

-

-

-

Share-based compensation expense

12,559

14,250

16,500

18,341

19,052

21,252

23,796

25,310

30,809

32,814

34,258

37,570

36,099

36,386

36,111

35,065

34,500

33,467

33,541

31,898

30,806

29,437

27,782

27,041

25,963

25,139

24,070

23,105

22,160

21,418

20,805

20,296

19,739

19,303

19,067

18,798

18,346

17,777

0

0

0

Amortization of net premiums and discounts on investments

1,173

1,647

1,935

2,340

1,846

1,417

0

0

0

-

-

-

-

-467

-6,205

-5,267

-4,412

-3,366

-4,298

-3,624

-3,755

-3,571

3,851

2,844

2,675

2,526

2,456

2,815

3,461

4,382

5,417

6,026

6,394

6,750

6,615

5,859

5,117

4,473

0

0

0

Amortization of debt discount and debt issuance costs

15,061

15,724

16,107

16,346

16,536

15,822

15,152

13,761

13,576

12,153

11,477

11,518

10,093

9,717

9,337

8,896

8,663

8,562

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Amortization of revenue interest issuance cost

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

23

22

25

27

32

34

42

50

46

50

53

67

74

86

98

104

104

101

102

96

0

0

0

Depreciation and amortization expense

39,800

34,573

27,058

19,709

13,019

11,479

14,868

18,159

20,897

23,234

23,291

23,389

23,280

21,582

19,634

17,437

15,254

15,012

14,251

12,340

10,421

8,473

7,751

7,711

7,358

6,999

6,236

5,623

5,151

4,663

4,467

4,402

4,398

4,625

4,341

4,345

4,252

3,951

0

0

0

Changes in fair value of acquired contingent consideration

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Gain on put/call liability

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

147

0

-167

80

182

554

511

248

701

0

0

0

-

-

-

-

-

-

-

-

Unrealized foreign currency transaction loss

-

-

-

-

-

-

-

-

-

-

0

0

0

-

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Intangible asset impairment

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Change in acquired contingent consideration obligation

-98,017

-86,935

-23,242

50,400

56,200

55,000

45,722

22,622

36,022

40,622

0

0

0

-

-

-

-

10,900

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Non-cash royalty revenue

10,820

10,271

10,021

9,950

9,976

10,291

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Deferred tax (benefit) provision

5,910

-1,978

-60,737

-30,689

-15,304

-14,505

-28,225

-39,793

-49,664

-54,044

16,078

-1,692

-5,691

-11,190

-23,408

-6,232

-4,159

3,975

10,101

-3,091

1,822

6,681

16,898

16,044

14,113

9,520

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

Change in derivative liability

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Changes in assets and liabilities:
Decrease in accounts receivable

-5,684

-1,347

-33,907

-43,350

-30,133

-57,972

-2,335

8,745

507

29,112

4,452

8,962

7,798

19,965

16,729

15,997

11,071

-744

6,964

2,771

1,286

1,427

-207

-28

5,978

4,457

1,772

3,448

1,762

3,499

2,619

190

-2,269

556

2,379

29,865

20,261

16,533

0

0

0

(Increase) decrease in prepaid expenses and other current assets

9,711

-14,439

-3,642

-3,621

6,265

15,402

3,488

2,000

-1,413

-3,445

-2,698

-8,713

-3,093

-6,904

-3,414

-4,843

-6,500

998

160

6,390

8,304

4,083

4,200

544

-2,837

377

-2,487

-211

-315

2,961

2,781

6,275

7,540

3,375

5,898

4,380

5,477

1,892

0

0

0

Increase in inventory

-5,899

-3,793

16,642

6,986

3,850

-8,440

-28,940

-22,638

-18,262

-5,505

-1,065

-11,639

6,387

6,660

-5,903

6,350

-6,166

9,639

19,611

17,800

14,707

721

1,072

-264

2,605

5,269

7,076

2,500

235

-7,082

-10,211

-11,586

-14,982

-8,976

4,538

48,944

54,906

31,735

0

0

0

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

-

-

-

-

-

-

-

-

-

-634

-634

-634

-634

-634

-634

-634

-634

-634

-634

-634

-634

-634

-634

-634

-634

-634

-634

-634

-634

-634

-634

-634

-634

-608

-615

-1,281

-958

-660

0

0

0

Decrease in inventory held by others

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-56

-101

-115

-128

-145

-164

-225

-309

-345

-318

-1,146

-1,155

-1,060

-950

-569

-283

-209

0

0

0

Decrease in other assets

0

-

-

-

-

-34

-7,773

-8,079

-7,561

-4,138

0

0

0

-

-

-

-

-

-

-

-

-34

-34

-34

-34

-34

3,640

3,640

3,653

3,753

0

0

0

-

-

-

-

-

-

-

-

Decrease in accounts payable, accrued expenses and other current liabilities

-22,442

-60,564

-54,121

-41,035

-39,259

-3,488

21,950

13,094

2,723

-2,099

-1,544

-21,821

2,563

37,625

10,586

28,529

3,686

-1,184

5,290

10,550

22,053

13,180

13,428

-1,709

-4,049

-5,785

3,116

6,470

14,377

11,743

7,849

5,641

-5,036

-6,108

-10,408

16,306

1,885

24,706

0

0

0

Decrease in non-current portion of deferred license revenue

-

-

-

-

-

-

-

-

-

-9,057

-22,643

-18,114

-9,057

-9,057

-9,057

-9,057

-9,057

-9,057

22,643

18,113

13,585

9,057

9,057

9,057

9,057

9,057

-9,057

-9,057

-9,057

-9,057

-9,057

-9,057

-9,057

-8,686

-8,779

-8,871

-8,964

-9,428

0

0

0

(Decrease) increase in revenue interest liability interest payable

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-41

428

415

108

-49

-708

-422

18

197

388

271

600

-351

-435

-261

-23

410

204

-32

-76

0

0

0

Decrease in current portion of deferred license revenue

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

0

Decrease in other non-current liabilities

-487

-431

-294

-93

-309

52

1,479

1,483

1,486

1,491

0

0

0

-

-

-

0

-

-

-

-

-301

0

0

0

-

-

-

-

-22

0

0

0

-

-

-

-

-

-

-

-

Decrease in deferred product revenueZanaflex

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

989

1,083

1,059

2,097

2,670

1,705

623

-1,598

-2,816

0

0

0

-

-

-

-

697

0

0

0

-

0

0

0

Increase (decrease) in deferred product revenue-Zanaflex

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

-

907

3,078

477

-592

0

0

0

(Increase) decrease in restricted cash

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-5,949

-5,710

-5,862

4,826

4,755

4,710

4,793

-71

58

-41

225

-103

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

Net cash used in operating activities

-89,450

-128,167

-129,076

-26,553

44,596

150,793

223,664

197,255

151,256

97,136

63,380

17,342

-2,467

29,649

25,197

41,628

54,428

38,481

29,373

45,637

61,094

74,649

80,622

61,644

51,245

39,285

36,836

37,409

41,452

52,119

68,348

91,093

81,470

66,336

34,954

21,439

-7,310

-19,215

0

0

0

Cash flows from investing activities:
Purchases of property and equipment

68,016

90,426

87,194

79,805

53,176

33,328

25,866

15,734

12,722

13,688

11,929

12,435

10,928

6,192

5,529

4,368

4,387

5,921

7,779

7,751

6,713

5,084

2,710

2,705

3,925

4,043

4,880

6,694

8,340

10,384

10,127

7,529

4,553

2,192

1,471

2,153

2,733

2,446

0

0

0

Purchases of intangible assets

-

-

-

-

-

587

769

643

617

688

705

712

563

893

846

961

1,399

1,145

1,903

1,985

1,653

2,699

2,180

2,743

3,678

3,121

3,847

3,920

3,179

3,194

4,597

3,921

4,087

3,595

967

815

550

6,998

0

0

0

Purchases of investments

-

226,587

228,886

208,635

191,025

249,107

0

0

0

-

-

-

-

40,215

114,916

198,904

305,321

434,670

359,968

592,520

656,147

580,381

673,772

425,736

287,755

221,429

217,860

244,107

284,530

322,455

295,380

269,114

289,320

266,736

297,082

321,801

322,654

310,955

0

0

0

Proceeds from maturities of investments

274,577

316,508

0

0

0

-

-

-

-

-

-

-

-

239,968

346,966

428,966

540,216

356,500

836,490

816,490

742,240

770,490

260,000

259,500

247,500

191,000

191,000

190,000

231,000

264,750

235,750

204,250

189,750

227,500

229,500

277,250

328,500

325,750

0

0

0

Net cash provided by (used in) investing activities

28,659

-505

-71,332

-70,766

-83,407

-176,865

-162,085

-161,085

-116,443

-10,713

-10,980

-11,493

-277,944

-73,786

-42,432

-50,367

229,109

-85,236

-9,311

-261,917

-398,424

-293,825

-418,662

-179,183

-55,357

-45,092

-43,086

-64,721

-65,049

-71,283

-74,354

-76,314

-108,210

-45,023

-70,020

-47,519

2,563

5,351

0

0

0

Debt issuance costs

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Proceeds from issuance of common stock and option exercises

-

24

244

2,495

11,855

15,198

18,456

17,732

8,372

10,479

7,848

6,943

7,765

75,520

84,769

85,879

86,584

18,096

16,387

17,908

17,094

16,015

8,231

12,521

14,545

12,786

13,601

6,608

4,293

4,339

3,067

2,800

5,519

3,962

4,188

6,331

4,654

8,370

0

0

0

Refund of deposit for purchase of noncontrolling interest

-

-

-

-

-

-

-

-

-

-

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Purchase of treasury stock

-

91

248

248

594

1,744

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Repayment of loans payable

597

614

615

615

615

657

656

656

840

2,409

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Repayments of revenue interest liability

-

-

-

-

-

-

-

-

-

-

-

-

-

41

327

417

416

501

325

327

460

562

691

735

856

909

1,111

1,311

1,309

1,253

1,420

1,497

1,936

1,962

6,813

6,955

6,853

6,850

0

0

0

Net cash used in financing activities

-61,486

-60,550

-619

1,632

10,646

12,797

67,000

66,276

57,057

61,519

8,058

-6,384

-21,302

45,931

55,131

69,688

86,362

17,789

16,433

17,877

354,489

353,308

345,115

349,436

13,780

11,968

12,490

5,297

2,984

3,086

1,647

1,303

3,583

2,000

-2,954

-953

-2,528

1,191

0

0

0

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

224

62

-439

-288

-967

-412

-73

235

1,242

1,225

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Net decrease in cash, cash equivalents and restricted cash

-122,054

-189,160

-201,466

-95,975

-29,132

-13,687

128,506

102,681

93,112

149,167

59,153

-2,041

-303,510

-364

38,103

61,203

369,899

-28,966

36,496

-198,402

17,160

134,133

7,075

231,897

9,668

6,161

6,240

-22,015

-20,613

-16,078

-4,359

16,082

-23,157

23,313

-38,020

-27,033

-7,275

-12,673

0

0

0

Supplemental disclosure:
Cash paid for interest

6,050

6,056

6,056

6,056

6,056

6,064

6,064

6,064

6,063

6,066

6,066

6,066

6,067

6,059

5,979

6,272

6,776

7,218

7,648

7,802

4,570

4,522

1,480

1,669

1,971

2,022

1,936

1,567

1,284

1,122

1,891

2,541

3,279

3,404

3,325

3,521

3,669

3,781

0

0

0

Cash paid for taxes

2,835

2,791

6,606

8,180

20,263

20,709

20,231

20,801

13,479

14,929

12,049

9,354

6,008

4,250

6,109

5,952

4,111

4,697

4,715

4,501

4,675

4,392

2,717

2,507

2,359

2,630

3,351

3,250

3,272

2,706

2,122

1,852

1,239

1,176

0

0

0

-

-

-

-