| Dec'19 | Dec'18 | Dec'17 | ||||
|---|---|---|---|---|---|---|
Cash flows from operating activities | ||||||
Net loss | ||||||
-90,034 | -46,867 | -4,480 | ||||
Adjustments to reconcile net loss to net cash used in operating activities | ||||||
Depreciation and amortization | ||||||
4,132 | 9 | 218 | ||||
Stock-based compensation | ||||||
9,518 | 6,971 | 586 | ||||
Provisions for rebate and coupon programs | ||||||
12,325 | 0 | - | ||||
Provision for bad debts | ||||||
387 | 0 | - | ||||
Amortization of discount on short-term investments | ||||||
1,038 | 0 | - | ||||
Amortization of operating lease right-of-use assets | ||||||
873 | - | - | ||||
Amortization of debt discount and issuance costs | ||||||
2,156 | 863 | - | ||||
Interest expense | ||||||
- | - | 0 | ||||
Deferred income taxes | ||||||
-15,055 | 65 | -6,255 | ||||
Tax benefit from therapeutic option right | ||||||
- | - | 996 | ||||
Revaluation of contingent royalty obligation payable to Evolus Founders | ||||||
4,160 | 10,500 | 0 | ||||
Changes in assets and liabilities: | ||||||
Inventories | ||||||
4,482 | 0 | - | ||||
Accounts receivable | ||||||
11,048 | 0 | - | ||||
Prepaid expenses and other current assets | ||||||
1,874 | 992 | 160 | ||||
Accounts payable | ||||||
183 | 1,275 | -2,432 | ||||
Accrued expenses | ||||||
-2,742 | 2,733 | 303 | ||||
Operating lease liabilities | ||||||
-654 | - | - | ||||
Deferred rent | ||||||
0 | -13 | -6 | ||||
Other assets | ||||||
190 | 211 | 0 | ||||
Net cash used in operating activities | ||||||
-93,400 | -25,700 | -13,200 | ||||
Cash flows from investing activities | ||||||
Purchases of property and equipment | ||||||
345 | 9 | 0 | ||||
Additions to capitalized software | ||||||
4,222 | 0 | - | ||||
Purchases of short-term investments | ||||||
113,867 | 0 | - | ||||
Maturities of short-term investments | ||||||
95,000 | 0 | - | ||||
Net cash used in investing activities | ||||||
-23,434 | -9 | 0 | ||||
Cash flows from financing activities | ||||||
Payment of contingent royalty obligation to Evolus Founders | ||||||
9,677 | 0 | - | ||||
Milestone payment for intangible assets | ||||||
3,000 | 0 | - | ||||
Proceeds from issuance of long-term debt, net of discounts | ||||||
73,906 | 0 | - | ||||
Payments for debt issuance costs | ||||||
2,205 | 0 | - | ||||
Payment for debt obligation | ||||||
1,044 | 0 | - | ||||
Proceeds from initial public offering, net of underwriting fees | ||||||
0 | 56,330 | 0 | ||||
Proceeds from follow-on offering, net of underwriting fees | ||||||
73,315 | 67,680 | 0 | ||||
Payments for offering costs | ||||||
203 | 1,060 | 1,286 | ||||
Related party borrowings | ||||||
0 | 1,127 | 14,321 | ||||
Repayments of Related Party Debt | ||||||
0 | 5,000 | 0 | ||||
Issuance of common stock in connection with incentive equity plan | ||||||
2,455 | -239 | - | ||||
Tax withholding paid on behalf of employees for stock-based awards | ||||||
- | - | 0 | ||||
Net cash (used in) provided by financing activities | ||||||
133,547 | 118,838 | 13,035 | ||||
Change in cash and cash equivalents | ||||||
16,730 | 93,162 | -187 | ||||
Supplemental disclosure of cash flow information | ||||||
Cash paid for interest | ||||||
5,166 | 0 | - | ||||
Cash paid for operating leases | ||||||
923 | - | - | ||||
Non-cash investing and financing information: | ||||||
Related party receivable | ||||||
0 | 73,690 | -72,639 | ||||
Related party borrowings | ||||||
0 | 68,767 | 0 | ||||
Note obligation | ||||||
0 | 140,688 | 138,687 | ||||
Contingent royalty obligation payable to Evolus Founders | ||||||
0 | 39,700 | 0 | ||||
Contingent promissory note payable to Evolus Founders | ||||||
0 | 16,042 | 0 | ||||
Capital contribution from Parent, convertible note write-off | ||||||
0 | 66,998 | 0 | ||||
Capital distribution to Parent | ||||||
- | - | 66,048 | ||||
Capital contribution from Parent, forgiveness of related party borrowings | ||||||
0 | 13,188 | 0 | ||||
Deferred offering costs | ||||||
0 | 2,885 | 0 | ||||
Capital contribution from Parent - therapeutic option right, net of tax | ||||||
- | - | 1,505 | ||||
Deferred offering costs, unpaid | ||||||
- | - | 839 | ||||
Accounts payable, paid by Parent | ||||||
0 | 163 | 0 | ||||
Operating lease right-of-use assets obtained in exchange for operating lease liabilities | ||||||
5,566 | - | - | ||||
Landlord paid tenant improvements | ||||||
781 | 0 | - | ||||
Financed D & O insurance payment | ||||||
1,561 | 0 | - | ||||
Capitalized software recorded in accounts payable and accrued expenses | ||||||
87 | 0 | - | ||||
Accrued offering costs, unpaid | ||||||
90 | 0 | - | ||||