Avadel pharmaceuticals plc (AVDL)
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'12Jun'11Mar'11
Cash flows from operating activities:
Net loss

-865

-2,739

-8,864

-8,605

-13,018

-63,859

-15,771

-3,438

-12,236

-8,245

21,679

28,927

25,910

4,734

-19,994

-19,958

-6,058

73,518

-28,075

-15,292

11,647

-27,712

-10,046

-21,073

-26,638

5,127

-6,369

-32,854

-8,829

9,102

-6,425

-5,917

12

-3,459

-4,927

Adjustments to reconcile net loss to net cash provided by operating activities:
Depreciation and amortization

456

796

626

695

369

1,805

1,815

1,825

1,985

2,219

1,053

774

837

2,934

3,874

3,927

3,754

3,332

3,269

3,271

3,260

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Loss on disposal of property and equipment

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

-8

-102

0

0

0

0

-

-

-

-3

71

0

7

-92

1

0

-31

67

0

11

Amortization of premiums on marketable securities

-

-

-

-

-

66

-1,196

-1,175

-518

-79

-619

-321

287

-252

-211

-170

-285

-336

-218

-714

489

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Remeasurement of acquisition liabilities

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-7,865

-12,613

-17,633

-

973

-30,638

-2,976

-

-

-

-

-

-

Interest expenses on debt related to the royalty agreement including related party

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

1,339

1,179

0

-

-

-

-

-

-

-

-

-

-

Foreign exchange loss (gain)

-

-

-

-

-

-

-

-

-

-

-

-

-

-

1,249

1,680

-2,941

1,494

160

-3,981

11,296

-

-

0

0

-

-

-

-

-

-

-

-

-

-

Depreciation of property and equipment and intangible assets

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

3,423

3,646

3,570

-

759

762

822

837

812

826

708

912

1,028

Gains on sales of marketable securities

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

-

-

-

-

-

-

-

-

-

-

Gains on sales of marketable securities

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

1

1

0

4

7

12

Grants recognized in research and development expenses

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

68

2

-

-

-

-

89

163

169

168

174

168

166

168

206

184

188

397

1,853

50

Remeasurement of acquisition-related contingent consideration

2,478

-1,539

627

-377

2,134

-5,695

-7,115

-12,889

2,968

-933

-9,906

-13,230

-6,971

-3,704

20,848

23,898

8,243

-51,079

44,782

32,000

5,254

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Remeasurement of financing-related contingent consideration

310

-118

139

50

307

-467

-425

-1,402

395

917

-768

-1,670

-550

413

1,828

2,773

1,534

-4,746

6,644

2,726

259

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Amortization of debt discount and debt issuance costs

1,573

1,571

1,506

1,473

1,445

1,428

1,383

1,362

657

0

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Change in deferred tax and income tax deferred charge

-8,440

-

-

-

-222

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Changes in deferred tax

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-694

0

0

2,807

-

1,226

3,737

1,492

-

-

-

-

-

-

Remeasurement of acquisition liabilities

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

5,080

0

0

Change in deferred tax and income tax deferred charge

-

-

-

-

-

-

-1,428

-396

-2,851

-

0

322

0

-

-652

-3,346

-1,682

-

-4,187

-2,422

5,864

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Stock-based compensation expense

742

342

-229

55

351

662

2,832

2,224

2,134

2,053

1,964

2,008

2,047

4,138

5,628

2,438

2,475

2,167

1,422

2,559

1,593

901

682

335

772

573

495

465

496

696

853

806

685

756

519

Loss on deconsolidation of subsidiary

0

-

-

-

-1,750

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Loss on deconsolidation of subsidiary

-

-

-

-

-

-

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Other adjustments

573

97

620

-471

-541

1,248

26

-48

139

108

-961

-115

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Net changes in assets and liabilities
Accounts receivable

517

-445

-1,447

-1,600

1,021

1,607

-5,216

-1,734

1,891

-9,294

4,794

5,822

-4,376

2,456

5,905

3,782

-2,093

7,077

1,830

909

-1,376

-332

-397

-367

-2,153

-237

1,129

-318

-63

790

-1,105

440

-2,735

-1,732

-535

Inventories

-47

1,310

-341

-1,657

-467

-1,259

306

-224

466

287

123

341

2,148

249

265

-1,622

-723

-1,279

-582

32

-1,207

271

1,025

447

1,369

841

994

-64

415

140

-279

-170

133

37

-60

Prepaid expenses and other current assets

-899

-672

30

-1,399

3,228

-1,383

-607

-3,872

2,285

5,665

-2,188

-1,090

1,354

-2,741

-125

-677

131

-3,321

2,129

1,508

368

1,166

413

886

-136

-883

1,081

7

-520

-447

-44

393

-702

-464

-1,025

Research and development tax credit receivable

-160

265

156

144

449

1,195

347

509

494

-

-

-

-

-2,191

164

1,267

363

-506

1,338

-3,934

127

-3,730

-4,348

1,330

-6,462

2,149

-5,450

1,265

1,371

2,217

1,595

1,293

1,537

1,172

-347

Accounts payable & other current liabilities

-1,187

4,382

-2,868

2,375

752

-6,344

-894

-1,168

6,374

-209

-4,127

3,475

1,456

-1,725

1,639

-6,467

6,119

-10,920

193

-101

2,295

-

-

-

-1,672

-295

1,442

-449

102

-108

-1,218

340

373

-546

-463

Deferred revenue

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-737

-703

-758

5,133

-4

-3,491

2,177

724

-382

842

-1,239

-218

845

-122

-519

-2,031

-693

-643

-1,617

1,804

-886

Accrued expenses

-4,905

2,736

1,358

1,013

-4,750

1,020

-1,829

-3,977

-5,854

3,863

-3,423

10,033

2,714

4,064

1,923

3,665

-2,888

4,424

-434

244

-858

1,587

712

-1,864

17

-845

2,476

-217

-203

-291

263

-37

-677

676

-1,283

Accrued income taxes

2,253

-

-

-

-46

-

-

-

32

-

-

-

8,538

1,778

-6,285

669

5,616

7,191

52

-10,919

3,283

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Earn-out payments for contingent consideration in excess of acquisition-date fair value

1,774

2,348

2,850

2,609

3,181

3,214

5,141

5,323

5,790

6,907

8,214

9,349

7,166

5,766

6,717

6,203

1,566

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Royalty payments for contingent consideration payable in excess of original fair value

291

374

457

410

507

476

744

793

825

983

1,159

1,284

1,003

679

631

598

561

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Other current liabilities

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

213

-

-245

-128

303

-631

-61

-14

24

-295

163

Other assets and liabilities

3,148

2,628

-2,230

1,811

1,818

-215

-677

2,375

518

3,961

1,207

-1,498

1,091

1,497

-1,762

223

-493

-105

411

-357

-198

10,826

21

288

-536

2,322

-240

-80

-25

-1,518

-167

-10

312

-581

375

Net cash used in operating activities

-11,636

-8,253

-7,419

-1,447

-21,206

-24,526

-20,248

-19,934

-18,008

-13,816

-3,058

8,228

25,308

7,741

-4,761

-4,448

20,369

26,398

18,594

14,026

25,275

-

-

-

-

-

-

-

-7,598

-6,220

-5,648

-6,686

-4,585

-444

-4,330

Cash flows from investing activities:
Net cash provided by (used in) operating activities

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

3,497

-5,405

-2,398

-

-

-

-

-

-

-

-

-

-

Purchases of property and equipment

0

0

0

-1

30

11

68

58

41

58

212

-13

334

201

240

300

460

552

418

425

234

324

692

313

399

263

251

93

422

264

291

178

336

381

901

Proceeds from disposal of property and equipment

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

3

1,000

0

6

1

0

0

0

67

0

11

Acquisitions of businesses, including cash acquired and other adjustments

-

-

-

-

-

-

-

-

-

-

-

-

-

0

467

0

161

0

0

0

0

-

-

-

-

-

-

-

-

0

0

140

1,631

0

0

Proceeds from sales of marketable securities

14,788

6,004

5,040

17,338

34,864

51,492

54,490

59,125

194,400

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Proceeds from sales of marketable securities

-

-

-

-

-

-

-

-

-

-

-

37,401

14,419

-

20,470

16,247

9,766

11,301

15,811

18,379

2,817

12,376

8,283

3,977

357

1,445

689

0

5,018

6,565

3,830

4,233

3,618

3,891

7,985

Purchases of marketable securities

1,562

834

1,823

8,547

13,444

35,274

28,398

37,540

275,098

35,112

48,150

21,669

46,074

11,404

20,671

25,074

50,454

19,351

27,965

5,081

26,012

11,315

40,523

0

27,752

355

730

0

0

337

325

2,566

339

4,754

3,689

Net cash provided by investing activities

13,226

5,170

3,217

8,946

21,390

16,207

26,024

1,527

-80,739

-531

1,077

15,745

-31,989

13,458

26

-9,127

-40,987

-8,602

-12,572

12,873

-23,429

-

-

-

-

-

-

-

4,597

5,964

3,214

1,629

4,641

-1,244

3,406

Cash flows from financing activities:
Proceeds from the February 2020 private placement

60,733

-

-

-

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Proceeds from stock option exercises and ESPP

1,477

-

-

-

92

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Proceeds from Issuance of Long-term Debt

-

-

-

-

-

0

0

0

143,750

0

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

4,926

-1

1

14,407

0

813

5,685

170

7,433

0

Principal payments on capital lease obligations

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

26

19

20

19

19

32

17

17

31

24

20

Earn-out payments for related party contingent consideration

-

-

-

-

-

0

0

243

402

285

296

221

444

58

262

124

6,448

9,029

9,379

5,793

325

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Royalty payments for related party payable

-

-

-

-

-

-

-

-

-

-

-

-

-

108

301

285

531

1,213

1,270

888

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Earnout payments on acquisition related debt to related parties

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

384

611

0

-

32

9

66

-

-

-

-

-

-

Proceeds from issuance of ordinary shares

-

-

-

-

-

-

-

-

-

404

-12

-26

38

440

0

0

0

0

5,338

1,406

246

13,458

2,650

1,764

114,388

0

103

297

0

0

5

0

602

0

0

Net cash provided by (used in) investing activities

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-32,932

3,661

-27,791

-

-

-

-

-

-

-

-

-

-

Payments for debt issuance costs

-

-

-

-

-

-

430

369

5,391

-

0

0

0

-

-

-

-

-

-

-

-

-

-

-

34,288

-

233

23

0

109

114

0

0

92

1,818

Share repurchases

-

-

-

-

-

0

0

9,637

18,000

5,654

3,626

13,081

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Proceeds from issuance of ordinary shares and warrants

-

-

-

-

-

-

42

535

2,911

-

0

376

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Other financing activities, net

-

-

-

-

-

-76

-37

-41

47

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Net cash provided by financing activities

62,210

-41

-41

-37

92

-76

-425

-9,755

122,915

-6,026

-3,934

-12,952

-406

58

-624

-409

-6,979

-7,501

-5,378

-10,793

-79

-

-

-

-

-

-

-

14,322

-141

687

5,668

741

7,317

-1,838

Net cash provided by (used in) financing activities

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

2,149

845

80,074

-

-

-

-

-

-

-

-

-

-

Effect of foreign currency exchange rate changes on cash and cash equivalents

-68

-

-1

19

29

-

9

-272

179

-

-143

250

108

-822

240

13

403

-1,272

161

595

-2,992

-4,841

-2,812

-503

-1,015

134

140

29

-52

17

114

-204

95

124

409

Net change in cash and cash equivalents

63,732

-3,093

-4,244

7,481

305

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Net change in cash and cash equivalents

-

-

-

-

-

-

-

-

24,347

-

-6,058

11,271

-6,979

20,435

-5,119

-13,971

-27,194

9,023

805

16,701

-1,225

15,754

-30,098

-1,402

48,870

-1,169

-531

-5,675

11,269

-380

-1,633

407

892

5,753

-2,353

Supplemental disclosures of cash flow information:
Interest paid

3,234

0

3,235

0

3,234

0

2,965

131

263

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Interest paid

-

-

-

-

-

-

-

-

-

-

-

262

263

-

-

-

-

-

-

-

-

-1,310

383

-244

5,602

909

461

331

0

-

-

-

-

-

-

Income taxes paid

0

0

0

68

72

363

4

319

90

9,538

0

9,605

0

-

-

-

-

-

-

-

-

172

-50

242

39

73

40

40

0

-

-

-

-

-

-

Fair value of assets acquired at acquisition date:

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

50,927

-

-

Liabilities assumed at acquisition date:

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

50,927

-

-