Avid Bioservices, Inc. CDMOP Cash Flow

Avid bioservices, inc. (CDMOP)

CashFlow / TTM

Jan'20	Oct'19	Jul'19	Apr'19	Jan'19	Oct'18	Jul'18	Apr'18	Jan'18	Oct'17	Jul'17	Apr'17	Jan'17	Oct'16	Jul'16	Apr'16	Jan'16	Oct'15	Jul'15	Apr'15	Jan'15	Oct'14	Jul'14	Apr'14	Jan'14	Oct'13	Jul'13	Apr'13	Jan'13	Oct'12	Jul'12	Apr'12	Jan'12	Oct'11	Jul'11	Apr'11	Jan'11	Oct'10	Jul'10
CASH FLOWS FROM OPERATING ACTIVITIES:
Net Loss
-5,362	-4,397	-5,418	-4,215	-1,531	-11,396	-22,569	-21,813	-30,105	-26,875	-18,307	-28,159	-34,771	-43,844	-52,986	-55,652	-55,903	-52,050	-50,952	-50,358	-48,471	-45,201	-40,891	-35,362	-33,563	-28,753	-29,716	-29,780	-32,213	-38,389	-41,691	-42,119	-41,251	-39,090	-34,548	-34,151	0	0	0
Adjustments to reconcile net loss to net cash provided by (used in) operating activities:
Depreciation and amortization
3,016	2,888	2,830	2,746	2,623	2,587	2,562	2,562	2,558	2,544	2,492	2,463	2,464	2,297	1,914	1,535	1,159	956	998	1,041	1,052	1,035	1,006	986	1,018	1,054	1,084	1,087	1,050	1,008	965	908	0	0	0	-	-	-	-
Stock-based compensation
2,364	2,227	1,901	1,595	1,412	1,366	1,350	1,538	1,978	2,435	3,011	3,363	3,749	4,163	4,552	4,898	5,162	5,495	6,109	6,702	6,573	6,558	6,390	6,207	6,029	5,457	4,366	3,435	2,651	2,381	2,547	2,769	3,277	3,229	3,078	2,837	0	0	0
Depreciation and amortization
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	0
Amortization of discount on notes payable and debt issuance costs
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	33	64	106	148	235	0	0	0
Common stock issued for services
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	0
Changes in operating assets and liabilities:
Accounts receivable
2,266	3,225	5,272	3,620	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Trade and other receivables
-	-	-	-	-	-	-	-	0	0	347	-	-2,716	3,162	5,732	-954	2,315	-457	414	2,481	3,502	1,973	-881	-330	799	-998	-163	-691	1,190	706	744	964	90	1,424	205	92	0	0	0
Contract assets
2,199	1,018	814	1,439	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Contract assets
-	-	-	-	-	-	-	-	-	-	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Government contract receivables
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	-	-	-	-
Government contract receivables
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	0
Inventory
905	-1,927	-1,137	-1,701	2,313	1,089	-7,196	-16,970	-19,611	-9,406	-1,039	16,913	18,640	13,370	14,817	8,832	9,041	7,175	4,459	1,824	924	734	319	1,191	589	2,849	4,201	728	-3,189	-5,594	-4,609	-1,673	1,172	377	211	-2,161	0	0	0
Prepaid expenses
-	-	-	-	-	-	-	-	0	0	180	-	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Assets of discontinued operations
-	-	-	-	-	-	-	-	-	-	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Other non-current assets
-	-	-	-	-	-	-	-	0	0	-209	-	518	628	262	325	-439	-486	-56	-12	0	0	0	-	-	-	0	-	-	-	-	-789	682	681	-38	-7	0	0	0
Prepaid expenses and other assets
196	152	249	28	0	0	0	-	-	-	-	-	-	-	-	-	0	0	169	-	-116	645	248	710	172	-161	-68	-86	210	-77	-358	-158	80	400	141	95	0	0	0
Other non-current assets
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	0
Accounts payable
1,623	1,159	564	2,125	897	1,035	163	-1,271	-3,826	-8,118	-4,309	-3,804	-385	5,314	-448	-3,521	-2,881	-3,153	-2,091	3,278	2,455	620	2,788	-391	216	-902	-1,973	-691	-2,365	-1,224	1,179	-601	1,291	1,449	-17	608	0	0	0
Accrued clinical trial and related fees
-	-	-	-	-	-	-	-	-	-	-	-	-3,848	-2,499	2,471	3,684	3,858	3,601	2,219	-523	1,759	1,508	1,279	3,503	-120	-529	-1,301	-1,181	-1,564	-664	-877	-181	1,137	-237	1,527	984	0	0	0
Accrued payroll and related expenses
436	1,531	1,200	976	-235	-1,439	-1,819	-2,491	-1,715	-874	1,334	372	1,140	1,150	559	1,215	781	658	440	769	407	320	-617	255	360	758	363	1,114	851	871	1,376	1,013	584	442	-241	-168	0	0	0
Contract liabilities
11,735	4,892	110	-5,371	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Contract liabilities
-	-	-	-	-	-	-	-	-	-	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Deferred revenue
-	-	-	-	-	-	-	-	-	-	-	-	10,949	8,292	13,240	3,400	9,666	6,076	3,621	1,097	1,131	-148	214	1,070	-732	-2,666	-1,884	451	2,278	3,813	1,641	-2,237	-1,897	-497	855	3,843	0	0	0
Deferred government contract revenue
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0
Customer deposits
-	-	-	-	-	-	-	-	-	-	-	-	3,777	11,993	12,132	12,849	14,122	7,386	3,373	5,603	-335	-109	-2,302	-2,299	1,917	-842	-1,696	3,194	4,266	6,797	9,935	3,106	-188	-1,622	-1,902	-859	0	0	0
Other liabilities
-	-	224	-	-	-	458	1,009	681	241	384	-407	-360	345	49	1,051	557	99	23	-52	-721	-500	-713	-464	346	69	106	24	-97	43	130	-62	133	181	349	372	0	0	0
Assets and liabilities of discontinued operations
-125	-416	-1,955	-4,550	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Liabilities of discontinued operations
-	-	-	-	-	-	-	-	-	-	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Deferred rent, less current portion
-	-	-	-	-	-	-	-	0	0	466	-	-142	-187	-184	-265	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Deferred rent
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Other long-term liabilities
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	0	-	562	393	387	258	0	0	0	-	-	-	-
Net cash used in operating activities
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-36,382	-38,440	-40,608	-36,019	0	0	0	-	-	-	0	-	-	-	-	-	-	-	-	-	-	-	-
Other long-term liabilities
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	0
Net cash provided by (used in) operating activities
8,428	5,982	-6,615	-11,595	-15,134	-20,685	-21,230	-25,992	-39,654	-41,850	-33,457	-39,169	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	-	-34,140	-32,380	-28,662	-26,462	0	0	0
CASH FLOWS FROM INVESTING ACTIVITIES:
Purchase of property and equipment
3,279	2,041	1,348	1,502	2,897	2,430	3,582	3,793	3,127	4,370	3,755	3,627	3,613	5,410	8,054	8,878	12,151	11,010	8,797	9,047	0	0	0	-	-	-	0	-	-	-	-	-	-	-	-	-	-	-	-
Property and equipment acquisitions
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	0	-	-1,350	-1,018	-761	-912	0	0	0
Decrease in other assets
-	-	-	-	-	-	-	-	-	-	-	-568	0	0	0	-	-	-	-477	-598	-594	-314	1,028	1,767	1,065	737	-54	-102	-294	-374	-177	-383	0	0	0	-	-	-	-
Proceeds from sale of research and development assets
-	0	3,000	-	-	9,000	6,000	3,000	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Net cash used in investing activities
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-12,266	-10,994	-8,320	-8,449	0	0	0	-	-	-	0	-	-	-	-	-	-	-	-	-	-	-	-
Net cash (used in) provided by investing activities
-3,233	-1,995	1,698	4,544	6,103	6,570	2,418	-793	-2,764	-3,802	-3,087	-3,059	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	-	-1,380	-1,475	-1,195	-1,347	0	0	0
CASH FLOWS FROM FINANCING ACTIVITIES:
Proceeds from exercise of stock options
1,006	551	522	1,278	1,542	1,798	1,732	752	429	143	65	31	0	6	45	138	159	281	279	298	972	964	972	944	268	191	174	96	0	0	0	-	-	-	-	-	-	-	-
Proceeds from issuance of common stock, net of issuance costs
-	-	-	-	-	-	-	25,687	23,039	28,862	32,528	30,450	13,301	14,778	37,419	45,195	55,528	51,220	28,705	19,235	0	0	0	-	-	-	0	-	-	-	-	-	-	-	-	-	0	0	0
Proceeds from issuance of common stock, net of issuance costs of $513,000, $1,504,000, and $1,232,000, respectively
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	39,522	33,155	35,324	31,029	33,179	0	0	0	-	-	-	-
Proceeds from issuance of preferred stock, net of issuance costs
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	18,203	0	0	0	-	-	-	0	-	-	-	-	-	-	-	-	-	-	-	-
Dividends paid on preferred stock
4,325	4,325	4,325	4,325	4,325	4,325	4,325	4,325	4,325	4,325	4,325	4,279	4,234	4,187	4,141	4,139	4,137	3,876	3,614	3,352	0	0	0	-	-	-	0	-	-	-	-	-	-	-	-	-	-	-	-
Principal payments on finance lease
0	0	0	-	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Principal payments on capital lease
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	1,790	1,976	1,894	2,000	0	0	0
Principal payments on capital leases
-	-	-	-	-	-	-	180	254	293	215	139	0	0	0	-	-	-	-	13	17	17	16	32	48	63	79	78	0	0	0	-	-	-	-	-	-	-	-
Net cash provided by financing activities
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	60,880	57,000	34,688	34,979	0	0	0	-	-	-	0	-	-	-	-	-	-	-	-	-	-	-	-
Net cash used in financing activities
-3,066	-3,521	-3,623	-2,863	18,851	19,082	19,040	22,251	19,378	24,874	30,155	28,165	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	-	31,213	34,642	28,414	31,203	0	0	0
Net decrease in cash, cash equivalents and restricted cash
0	0	0	-	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Change in cash, cash equivalents and restricted cash
-	-	-	-	-	-	-	-4,534	-23,040	-20,778	-6,389	-14,063	-25,942	-22,950	-14,821	-6,589	12,232	7,566	-14,240	-9,489	-7,939	19,996	31,656	42,286	36,922	20,000	22,609	17,171	6,494	6,388	2,451	-5,042	-4,307	787	-1,443	3,394	0	0	0
SUPPLEMENTAL DISCLOSURES OF NON-CASH ACTIVITIES:
Unpaid purchases of property and equipment
793	1,744	1,772	318	0	0	0	-	-	542	962	658	0	0	0	-	-	6,214	6,851	4,673	2,480	849	132	4	43	97	-18	20	45	-25	13	47	-74	76	366	300	0	0	0
Property and equipment acquired under finance lease
0	0	0	245	245	245	245	0	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	0
Lease incentives
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	100	0	0	0	-	-	-	0	-	-	-	-	-	-	-	-	-	-	-	-