Beigene, ltd. (BGNE)
CashFlow / Quarterly
Mar'20Dec'19Sep'19Jun'19Mar'19Dec'18Sep'18Jun'18Mar'18Dec'17Sep'17Jun'17Mar'17Dec'16Sep'16Jun'16Mar'16Dec'15Sep'15Jun'15Mar'15
Operating activities:
Net loss

-364,939

-387,895

-308,660

-85,954

-168,069

-266,710

-144,492

-157,715

-105,116

-99,280

117,284

-60,680

-50,623

-37,598

-35,494

-24,124

-22,001

-27,250

-13,999

-5,641

-10,212

Adjustments to reconcile net loss to net cash used in operating activities:
Depreciation and amortization expense

7,750

7,484

4,022

3,695

3,416

3,363

2,445

2,336

2,244

2,054

1,300

540

864

473

505

492

439

418

402

373

352

Share-based compensation expenses

38,255

38,342

36,818

32,602

26,392

25,958

25,132

18,641

17,396

16,462

13,327

7,082

5,992

3,947

2,779

1,285

2,614

2,168

4,819

910

2,314

Provision for doubtful accounts

2,022

-

-

-

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Unrealized Gain (Loss) on Investments

6,964

-

-

-

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Acquired in-process research and development

43,000

20,000

0

20,000

29,000

60,000

0

0

10,000

-

-

-

-

-

-

-

-

-

-

-

-

Amortization of research and development cost share liability

-27,634

-

-

-

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Changes in fair value of financial instruments

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

0

-1,514

-1,324

-300

-14

-188

Loss on disposal of property and equipment

-

-

-

-

-

-

-

-

-

-

-

-

-7

-

-

-

-

-

-

-

-

Non-cash interest expense

2,572

2,570

1,717

1,901

1,858

1,856

1,849

2,103

2,012

-

-

-

-

3

25

0

93

262

293

279

261

Deferred income tax benefits

-206

4,102

-11,878

-473

-983

-13,151

-385

-4,323

-4,090

26

-1,812

-1,899

-2,160

-

-

-

-

-

-

-

-

Other items, net

-1,105

-

-

-

-3,218

-

-

-

-

-

-

-5

8

-

-137

-228

-712

-16

-241

-44

-13

Realized gain on available-for-sale securities

-

-

-

-

-

-

-1,514

1,854

482

-

-

-

-

-

-

-

-

-

-

-

-

Non-cash amortization of bond discount

-

-

-

-

-

-

-4,441

0

0

-

-

-

-

-

-

-

-

-

-

-

-

Changes in operating assets and liabilities:
Accounts receivable

-3,236

14,966

-2,196

-868

17,920

3,684

4,201

9,686

-5,943

-

-

-

-

-

-

-

-

-

-

-

-

Unbilled receivable

-

-

-

-

-

-

-7,824

-11,160

7,555

-

-

-

-

-

-

-

-

-

-

-

-

Inventories

222

-8,959

-11,536

35,908

-3,102

-3,457

13,377

-1,176

-3,432

-

-

-

-

-

-

-

-

-

-

-

-

Prepaid expenses and other current assets

36,075

-14,310

-270

8,763

5,772

4,305

6,633

13,911

13,758

17,913

5,931

2,559

2,477

-113

201

1,576

406

-1,084

3,332

2,417

-1,675

Operating lease right-of-use assets

8,990

7,181

699

2,016

1,588

-

-

-

0

-

-

-

-

-

-

-

-

-

-

-

-

Other non-current assets

2,710

5,475

5,014

81

10,212

31,729

4,805

1,612

2,082

29,066

496

98

41

-1,393

960

274

47

211

325

2,886

-2,857

Accounts payable

-21,450

10,375

-29,582

41,795

-20,364

17,893

-4,731

28,795

-18,487

33,878

8,178

4,768

8,474

4,546

1,236

2,247

-5,322

4,679

343

1,792

-628

Advances from customers

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

-393

-677

-

-1,380

-1,381

-1,380

Accrued expenses and other payables

15,775

30,536

29,959

12,325

-8,790

24,259

845

19,324

6,115

2,607

22,241

-2,036

2,166

586

7,489

2,649

3,222

4,265

2,788

-565

862

Tax payable

6,080

4,393

6,886

-4,682

969

4,252

398

-8,738

733

6,304

-1,180

536

1,766

510

126

135

33

-

-

-

-

Deferred revenue

0

0

0

-25,744

-2,238

-3,383

-2,234

-1,703

-1,739

-

-

-

-

-

-

-

-

-

-

-

12

Operating lease liabilities

10,917

9,982

-1,521

-1,529

1,550

4,052

13,107

-1,130

933

31,215

-379

230

329

317

82

75

-15

-6

-30

-3

-25

Other long-term liabilities

-1,256

7,129

1,689

-509

892

-

-

-

0

-

-

-

-

-

-

-

-

-

-

-

-

Net cash used in operating activities

-341,944

-267,181

-265,012

-46,101

-171,975

-193,894

-132,185

-117,137

-104,501

93,749

6,600

-51,886

-35,711

-26,140

-24,276

-19,256

-19,841

-16,762

-9,879

-9,491

-3,711

Purchases of property, plant and equipment

21,533

15,464

30,873

21,447

21,828

23,254

26,720

10,613

9,696

18,933

18,560

3,813

5,068

8,062

6,682

5,455

3,303

3,422

864

-2,204

3,232

Payment for the acquisition of land use right

-

-

-

-

-

-

-

-

-

-

-

9,805

2,319

-

-

-

-

-

-

-

-

Payments to Acquire Debt Securities, Available-for-sale

1,307,179

318,475

140,034

223,437

487,354

519,176

917,588

566,698

632,224

227,170

486,480

12,963

14,683

-

-

-

-

15,999

13,177

86,119

3,996

Proceeds from sale or maturity of investments

256,743

330,047

384,537

456,893

710,598

846,357

461,839

611,443

257,568

177,861

84,028

96,287

65,613

25,436

67,761

46,900

43,646

26,725

20,295

8,219

10,459

Purchase of in-process research and development

43,000

20,000

0

20,000

29,000

60,000

0

0

10,000

-

-

-

-

-

-

-

-

-

-

-

-

Net cash (used in) provided by investing activities

-1,114,969

-23,892

213,630

192,009

172,416

213,243

-490,636

34,132

-394,352

-68,242

-401,326

69,706

43,543

-170,719

44,076

-135,548

40,343

7,302

6,254

-75,693

3,231

Financing activities:
Proceeds from sale of ordinary shares, net of cost

2,162,407

0

0

0

0

0

0

0

758,001

-

-

-

-

199,468

0

0

169,409

-

-

-

-

Proceeds from research and development cost share liability

616,834

-

-

-

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Payment of public offering cost

-

-

-

-

-

0

0

0

414

-

-

-

-

740

0

0

1,478

-

-

-

-

Proceeds from long-term bank loan

0

0

23,785

7,009

36,695

0

0

42,315

0

-

-

-

-

-

-

-

-

-

-

-

-

Proceeds from short-term bank loan

11,298

-

-

-

0

-

-

-

-

0

0

0

2,470

-

-

-

-

-

-

-

-

Proceeds from exercise of warrants and rental deferral option

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

-3

2,118

-

-

-

-

Proceeds from option exercises and employee share purchase plan

11,629

26,617

9,745

4,373

6,269

8,803

10,277

4,268

6,314

3,048

1,263

253

63

-

-

-

-

-

-

-

-

Net cash provided by financing activities

2,802,168

2,198

25,136

15,382

42,964

8,803

871,250

46,583

763,901

3,048

339,708

145,067

2,533

198,692

7,640

4,521

170,049

-

-

-

-

Effect of foreign exchange rate changes, net

-6,212

8,827

-15,607

-6,997

4,265

1,765

-7,644

-1,661

3,444

2,537

2,522

369

-129

149

8

-139

86

-2

-452

20

-51

Net increase in cash, cash equivalents, and restricted cash

1,339,043

-280,048

-41,853

154,293

47,670

29,917

240,785

-38,083

268,492

31,092

-52,496

163,256

10,236

1,982

27,448

-150,422

190,637

-9,581

2,294

11,789

-531

Supplemental cash flow information:
Income taxes paid

531

33

1,077

7,514

360

210

309

11,513

329

27,857

683

670

76

0

0

0

25

-

-

-

-

Interest paid

1,136

980

1,245

1,202

888

663

879

336

331

320

322

313

305

316

268

134

108

127

0

1

6

Supplemental non-cash information:
Conversion of senior promissory note

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

0

14,693

-

-

-

-

Conversion of deferred rental

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

0

980

-

-

-

-

Conversion of convertible preferred shares

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

0

176,084

-

-

-

-

Exercise of warrants and option

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

0

3,687

-

-

-

-

Initial public offering costs accrued in accrued expenses and other payables

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

166

-

-

-

-

Acquisitions of equipment included in accounts payable

26,412

-169

-6,672

3,465

32,462

10,085

4,014

4,366

3,640

733

109

-831

2,204

1,834

241

-13

91

-68

55

-114

150

Changes in operating assets and liabilities adjusted through accumulated deficit

-

-

-

-

-

4,582

0

0

-2,291

-

-

-

-

-

-

-

-

-

-

-

-