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

-21,073

-33,226

-94,346

-101,253

-96,086

-95,304

-39,690

-2,240

30,125

68,271

81,250

39,577

-9,308

-41,276

27,508

19,427

24,093

41,798

-59,432

-41,403

-47,184

-85,469

-52,630

-48,953

-60,734

-42,925

-38,950

-39,006

-12,069

-3,228

0

0

0

0

0

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

2,573

2,486

3,495

4,684

5,814

7,430

7,844

7,082

6,031

4,883

5,598

8,419

11,572

14,489

14,887

14,282

13,626

13,132

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Loss on disposal of property and equipment

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-110

-110

-102

0

0

0

0

-

-

-

75

-14

-84

-84

-122

37

0

0

0

0

0

Amortization of premiums on marketable securities

-

-

-

-

-

-2,823

-2,968

-2,391

-1,537

-732

-905

-497

-346

-918

-1,002

-1,009

-1,553

-779

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Remeasurement of acquisition liabilities

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

0

-

0

0

0

-

-

-

-

-

-

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

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

0

-

-

-

-

-

-

-

-

-

-

Foreign exchange loss (gain)

-

-

-

-

-

-

-

-

-

-

-

-

-

-

1,482

393

-5,268

8,969

0

0

0

-

-

0

0

-

-

-

-

-

-

-

-

-

-

Depreciation of property and equipment and intangible assets

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

0

-

3,180

3,233

3,297

3,183

0

0

0

0

0

Gains on sales of marketable securities

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

-

-

-

-

-

-

-

-

-

-

Gains on sales of marketable securities

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

6

0

0

0

0

0

Grants recognized in research and development expenses

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

0

-

-

-

-

589

674

679

676

676

708

724

746

975

0

0

0

0

0

Remeasurement of acquisition-related contingent consideration

1,189

845

-3,311

-11,053

-23,565

-22,731

-17,969

-20,760

-21,101

-31,040

-33,811

-3,057

34,071

49,285

1,910

25,844

33,946

30,957

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Remeasurement of financing-related contingent consideration

381

378

29

-535

-1,987

-1,899

-515

-858

-1,126

-2,071

-2,575

21

4,464

6,548

1,389

6,205

6,158

4,883

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Amortization of debt discount and debt issuance costs

6,123

5,995

5,852

5,729

5,618

4,830

3,402

2,019

657

0

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Change in deferred tax and income tax deferred charge

0

-

-

-

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Changes in deferred tax

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

2,113

0

0

0

-

0

0

0

-

-

-

-

-

-

Remeasurement of acquisition liabilities

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

0

Change in deferred tax and income tax deferred charge

-

-

-

-

-

-

0

0

0

-

0

0

0

-

0

0

0

-

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Stock-based compensation expense

910

519

839

3,900

6,069

7,852

9,243

8,375

8,159

8,072

10,157

13,821

14,251

14,679

12,708

8,502

8,623

7,741

6,475

5,735

3,511

2,690

2,362

2,175

2,305

2,029

2,152

2,510

2,851

3,040

0

0

0

0

0

Loss on deconsolidation of subsidiary

0

-

-

-

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Loss on deconsolidation of subsidiary

-

-

-

-

-

-

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Other adjustments

819

-295

856

262

685

1,365

225

-762

-829

-968

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Net changes in assets and liabilities
Accounts receivable

-2,975

-2,471

-419

-4,188

-4,322

-3,452

-14,353

-4,343

3,213

-3,054

8,696

9,807

7,767

10,050

14,671

10,596

7,723

8,440

1,031

-1,196

-2,472

-3,249

-3,154

-1,628

-1,579

511

1,538

-696

62

-2,610

0

0

0

0

0

Inventories

-735

-1,155

-3,724

-3,077

-1,644

-711

835

652

1,217

2,899

2,861

3,003

1,040

-1,831

-3,359

-4,206

-2,552

-3,036

-1,486

121

536

3,112

3,682

3,651

3,140

2,186

1,485

212

106

-176

0

0

0

0

0

Prepaid expenses and other current assets

-2,940

1,187

476

-161

-2,634

-3,577

3,471

1,890

4,672

3,741

-4,665

-2,602

-2,189

-3,412

-3,992

-1,738

447

684

5,171

3,455

2,833

2,329

280

948

69

-315

121

-1,004

-618

-800

0

0

0

0

0

Research and development tax credit receivable

405

1,014

1,944

2,135

2,500

2,545

0

0

0

-

-

-

-

-397

1,288

2,462

-2,739

-2,975

-6,199

-11,885

-6,621

-13,210

-7,331

-8,433

-8,498

-665

-597

6,448

6,476

6,642

0

0

0

0

0

Accounts payable & other current liabilities

2,702

4,641

-6,085

-4,111

-7,654

-2,032

4,103

870

5,513

595

-921

4,845

-5,097

-434

-9,629

-11,075

-4,709

-8,533

0

0

0

-

-

-

-974

800

987

-1,673

-884

-613

0

0

0

0

0

Deferred revenue

-

-

-

-

-

-

-

-

-

-

-

-

-

-

2,935

3,668

880

3,815

-594

-972

3,361

-55

-997

230

-734

-14

-1,827

-3,365

-3,886

-4,984

0

0

0

0

0

Accrued expenses

202

357

-1,359

-4,546

-9,536

-10,640

-7,797

-9,391

4,619

13,187

13,388

18,734

12,366

6,764

7,124

4,767

1,346

3,376

539

1,685

-423

452

-1,980

-216

1,431

1,211

1,765

-448

-268

-742

0

0

0

0

0

Accrued income taxes

0

-

-

-

0

-

-

-

0

-

-

-

4,700

1,778

7,191

13,528

1,940

-393

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

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

9,581

10,988

11,854

14,145

16,859

19,468

23,161

26,234

30,260

31,636

30,495

28,998

25,852

20,252

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

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

1,532

1,748

1,850

2,137

2,520

2,838

3,345

3,760

4,251

4,429

4,125

3,597

2,911

2,469

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Other current liabilities

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

-

-701

-517

-403

-682

0

0

0

0

0

Other assets and liabilities

5,357

4,027

1,184

2,737

3,301

2,001

6,177

8,061

4,188

4,761

2,297

-672

1,049

-535

-2,137

36

-544

-249

10,682

10,292

10,937

10,599

2,095

1,834

1,466

1,977

-1,863

-1,790

-1,720

-1,383

0

0

0

0

0

Net cash used in operating activities

-28,755

-38,325

-54,598

-67,427

-85,914

-82,716

-72,006

-54,816

-26,654

16,662

38,219

36,516

23,840

18,901

37,558

60,913

79,387

84,293

0

0

0

-

-

-

-

-

-

-

-26,152

-23,139

0

0

0

0

0

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

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

0

-

-

-

-

-

-

-

-

-

-

Purchases of property and equipment

-1

29

40

108

167

178

225

369

298

591

734

762

1,075

1,201

1,552

1,730

1,855

1,629

1,401

1,675

1,563

1,728

1,667

1,226

1,006

1,029

1,030

1,070

1,155

1,069

0

0

0

0

0

Proceeds from disposal of property and equipment

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

1,009

1,007

7

7

1

67

0

0

0

0

0

Acquisitions of businesses, including cash acquired and other adjustments

-

-

-

-

-

-

-

-

-

-

-

-

-

628

628

161

161

0

0

0

0

-

-

-

-

-

-

-

-

1,771

0

0

0

0

0

Proceeds from sales of marketable securities

43,170

63,246

108,734

158,184

199,971

359,507

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Proceeds from sales of marketable securities

-

-

-

-

-

-

-

-

-

-

-

0

76,199

-

57,784

53,125

55,257

48,308

49,383

41,855

27,453

24,993

14,062

6,468

2,491

7,152

12,272

15,413

19,646

18,246

0

0

0

0

0

Purchases of marketable securities

12,766

24,648

59,088

85,663

114,656

376,310

376,148

395,900

380,029

151,005

127,297

99,818

103,223

107,603

115,550

122,844

102,851

78,409

70,373

82,931

77,850

79,590

68,630

28,837

28,837

1,085

1,067

662

3,228

3,567

0

0

0

0

0

Net cash provided by investing activities

30,559

38,723

49,760

72,567

65,148

-36,981

-53,719

-78,666

-64,448

-15,698

-1,709

-2,760

-27,632

-36,630

-58,690

-71,288

-49,288

-31,730

0

0

0

-

-

-

-

-

-

-

15,404

15,448

0

0

0

0

0

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

0

-

-

-

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Proceeds from stock option exercises and ESPP

0

-

-

-

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Proceeds from Issuance of Long-term Debt

-

-

-

-

-

143,750

143,750

143,750

143,750

0

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

19,333

14,407

15,221

20,905

6,668

0

0

0

0

0

Principal payments on capital lease obligations

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

84

77

90

87

85

97

0

0

0

0

0

Earn-out payments for related party contingent consideration

-

-

-

-

-

645

930

1,226

1,204

1,246

1,019

985

888

6,892

15,863

24,980

30,649

24,526

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Royalty payments for related party payable

-

-

-

-

-

-

-

-

-

-

-

-

-

1,225

2,330

3,299

3,902

3,371

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Earnout payments on acquisition related debt to related parties

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

0

-

0

0

0

-

-

-

-

-

-

Proceeds from issuance of ordinary shares

-

-

-

-

-

-

-

-

-

404

440

452

478

440

0

5,338

6,744

6,990

20,448

17,760

18,118

132,260

118,802

116,255

114,788

400

400

302

5

607

0

0

0

0

0

Net cash provided by (used in) investing activities

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

0

-

-

-

-

-

-

-

-

-

-

Payments for debt issuance costs

-

-

-

-

-

-

0

0

0

-

0

0

0

-

-

-

-

-

-

-

-

-

-

-

0

-

365

246

223

223

0

0

0

0

0

Share repurchases

-

-

-

-

-

27,637

33,291

36,917

40,361

22,361

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Proceeds from issuance of ordinary shares and warrants

-

-

-

-

-

-

0

0

0

-

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Other financing activities, net

-

-

-

-

-

-107

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Net cash provided by financing activities

62,091

-27

-62

-446

-10,164

112,659

106,709

103,200

100,003

-23,318

-17,234

-13,924

-1,381

-7,954

-15,513

-20,267

-30,651

-23,751

0

0

0

-

-

-

-

-

-

-

20,536

6,955

0

0

0

0

0

Net cash provided by (used in) financing activities

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

0

-

-

-

-

-

-

-

-

-

-

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

0

-

0

0

0

-

0

0

-226

-

-607

-224

-461

-166

-616

-695

-113

-3,508

-7,077

-10,050

-11,148

-9,171

-4,196

-1,244

-712

251

134

108

-125

22

0

0

0

0

0

Net change in cash and cash equivalents

63,876

449

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Net change in cash and cash equivalents

-

-

-

-

-

-

-

-

8,675

-

18,669

19,608

-5,634

-25,849

-37,261

-31,337

-665

25,304

32,035

1,132

-16,971

33,124

16,201

45,768

41,495

3,894

4,683

3,581

9,663

-714

0

0

0

0

0

Supplemental disclosures of cash flow information:
Interest paid

6,469

6,469

6,469

6,199

6,330

3,359

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Interest paid

-

-

-

-

-

-

-

-

-

-

-

0

0

-

-

-

-

-

-

-

-

4,431

6,650

6,728

7,303

1,701

0

0

0

-

-

-

-

-

-

Income taxes paid

68

140

503

507

758

776

9,951

9,947

19,233

19,143

0

0

0

-

-

-

-

-

-

-

-

403

304

394

192

153

0

0

0

-

-

-

-

-

-

Fair value of assets acquired at acquisition date:

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

-

-

Liabilities assumed at acquisition date:

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

-

-