Exact sciences corporation (EXAS)
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'12Dec'11Sep'11Jun'11Mar'11
Cash flows from operating activities:
Net loss

-105,697

77,945

-40,459

-38,540

-82,939

-53,974

-45,364

-36,387

-39,424

-21,764

-26,897

-30,790

-34,946

-37,170

-37,803

-44,765

-47,473

-39,991

-42,945

-39,066

-35,801

-32,444

-32,060

-19,437

-16,107

-12,186

-11,160

-12,314

-10,854

-13,988

-12,952

-14,836

-10,645

-9,904

-7,773

-6,625

-4,373

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

16,006

12,462

8,351

7,024

6,375

6,195

5,541

4,527

4,281

4,065

3,751

3,509

3,247

3,072

2,948

2,816

2,473

2,188

2,035

1,790

1,587

1,446

920

688

656

442

330

332

314

319

249

215

202

149

117

78

67

Loss on disposal of property, plant and equipment

-272

-514

-669

-129

-82

500

-757

2

-98

-653

-210

-71

-20

-

-

-

-

-

-

-

-

-

-

-

-

-9

0

-66

-25

-

-

-

-

-

-

-

-

Unrealized loss on revaluation of marketable equity securities

-669

-

-

-

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Deferred tax benefit

-1,918

-184,768

643

-464

-520

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Stock-based compensation

29,560

47,843

24,348

20,143

16,166

15,746

16,498

15,593

12,463

12,498

10,778

6,095

6,129

6,959

6,166

4,507

6,100

4,902

4,980

4,548

3,620

2,877

4,165

2,483

1,995

2,084

1,849

2,856

955

1,469

1,565

1,424

1,035

1,257

1,155

866

686

Loss on settlement of convertible notes

-7,954

-

0

0

-10,558

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Amortization of convertible note debt discount and issuance costs

14,553

14,600

9,173

9,404

9,079

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Amortization of deferred financing costs and other liabilities

-1,073

-

-

-

-425

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Amortization of liabilities

-

-

-

-

-

-

-

-

4,543

421

430

392

377

300

268

237

208

174

158

183

58

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Amortization of debt issuance costs

-

-

-

-

-

-

-

-

-

-

-

-

-

-

14

13

13

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Amortization of deferred license fees

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

588

0

0

-294

7,252

-1,036

-1,036

-1,036

-1,036

-1,036

-1,036

-1,036

-1,036

-1,035

-1,036

-1,036

Amortization of deferred financing costs

-

-

-

-

-

-

-

-

-

-

14

12

14

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Amortization of premium on short-term investments

53

-213

-309

-1,407

-1,173

-1,178

-946

-877

-515

32

-1

20

37

51

66

132

214

303

318

325

377

214

258

225

145

178

188

130

140

173

139

116

104

-

-

-

-

Warrant licensing expense

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

125

27

27

26

27

27

Amortization of acquired intangible assets

23,339

13,609

811

855

760

693

619

616

612

338

355

240

50

50

50

50

50

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Non-cash lease expense

10,190

2,746

919

885

877

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Changes in assets and liabilities:
Accrued interest

-

-

-

-

-

-

-2,253

2,747

1,407

-

-

-

-

-

-

-

-

0

0

-112

6

6

5

5

6

5

6

5

5

6

5

5

5

6

5

5

5

Accounts receivable, net

6,322

-8,933

18,297

6,718

11,856

1,795

5,648

1,693

8,156

1,866

1,598

6,377

7,688

663

422

1,820

688

724

2,058

570

205

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Inventory

7,469

4,516

5,892

3,512

5,121

139

3,208

3,029

6,353

7,963

5,654

4,551

1,026

-833

-738

247

1,480

645

-243

852

1,406

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Operating lease liabilities

-2,210

-

-

-

-4,721

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Prepaid expenses and other current assets

-

-

-

-

-

-

7,367

3,598

2,812

-

1,633

-571

329

941

-1,622

-427

347

1,150

1,616

-73

364

1,151

-1,610

1,145

643

1,295

-183

20

474

-659

-1,095

429

884

167

256

143

222

Accounts payable and accrued liabilities

-18,296

12,452

-738

-6,029

-2,216

16,473

21,746

-1,282

-3,861

22,515

6,495

1,346

181

-1,625

-800

294

-467

1,805

158

-656

-646

-1,988

4,278

-974

570

156

-479

-997

-1,571

2,622

263

-182

184

-212

-109

266

-208

Other assets and liabilities

9,438

-

-

-

9,080

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Accrued liabilities

-

-

-

-

-

-

8,198

-9,175

-623

-

9,574

-1,472

1,204

1,896

2,802

3,315

-664

3,140

2,072

4,521

-2,309

2,286

2,568

1,754

1,456

-453

1,498

882

372

-951

355

1,323

-195

946

429

566

-399

Other short-term liabilities

-

-

-

-

-

-

18

98

-29

-

-

-

-154

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Long-term obligations

-

-

-

-

-

-

-

-

-153

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Lease incentive obligation

-

-

-

-

-

-

-

-

-

-

-

-

-

-153

-136

-153

130

-138

-139

-138

-138

-82

-135

-135

-135

-

-

-

-

-

-

-

-

-

-

-

-

Net cash used in operating activities

-49,827

-28,684

-29,080

16,908

-74,154

-1,236

-4,053

-25,514

-38,522

-764

-5,450

-31,872

-33,638

-27,129

-24,966

-35,624

-42,347

-30,283

-37,077

-31,320

-35,337

-31,461

-21,110

-16,536

-12,351

-10,312

-7,750

-10,096

-12,124

-10,727

-10,317

-12,275

-11,203

-8,824

-7,191

-5,996

-5,453

Cash flows from investing activities:
Purchases of marketable securities

425,168

29,988

92,542

248,700

262,887

110,844

186,806

266,354

628,502

12,012

156,791

157,685

30,563

38,533

145,338

0

6,118

7,057

178,679

8,173

11,145

68,116

2,500

136,503

2,352

9,249

17,428

62,602

9,231

5,639

56,644

3,801

29,963

15,815

30,023

38,686

2,493

Maturities and sales of marketable securities

39,143

211,229

1,001,656

215,192

232,482

171,884

161,445

164,681

81,161

75,981

49,010

89,239

57,236

50,508

45,809

35,324

61,680

52,457

43,502

35,208

31,116

26,483

32,921

20,349

24,419

26,801

15,421

13,636

16,431

16,588

15,471

10,122

16,230

28,597

4,502

11,128

1,498

Purchases of property, plant and equipment

12,685

40,832

51,522

68,791

10,657

52,106

53,623

29,036

15,328

24,038

15,794

5,903

2,745

2,685

5,751

4,026

2,389

6,065

4,246

7,402

2,371

2,469

2,326

2,433

4,763

4,335

2,687

1,350

376

95

-143

534

195

516

888

466

245

Business combination, net of cash acquired

6,807

-

-

-

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Other investing activities

330

-

-

-

140

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Internally developed software

-

-

-

-

-

-

4

69

62

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Net cash used in investing activities

-405,847

-834,774

857,442

-102,539

-41,202

-9,417

-78,988

-130,778

-562,731

24,654

-126,596

-82,791

23,928

9,290

-105,280

31,298

53,173

37,435

-139,423

19,633

17,600

-44,102

28,095

-118,587

17,304

13,217

-4,694

-50,316

6,824

10,854

-41,030

5,787

-13,928

12,266

-26,409

-28,024

-1,240

Cash flows from financing activities:
Proceeds from issuance of convertible notes, net

1,125,547

0

-2

-57

729,536

-1

6

225,334

671,091

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Proceeds from exercise of common stock options

4,300

2,398

1,391

1,348

3,650

260

731

4,254

1,391

1,753

2,578

725

47

2,362

500

261

288

287

102

473

386

2,216

231

105

88

129

726

396

90

298

226

222

1,642

129

331

211

14

Payments on settlement of convertible notes

150,054

0

0

1

493,355

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Proceeds from construction loan

0

0

0

24

295

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Payments on mortgage payable

313

-

-

-

0

-

4,588

45

45

-

44

42

44

42

42

41

41

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Payments on capital lease

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

177

92

91

89

89

87

86

85

84

82

82

-

-

-

-

-

-

-

-

Net cash provided by financing activities

979,480

6,624

980

5,451

240,126

9,354

19,074

233,277

672,437

2,718

2,460

255,775

3

3,366

144,706

1,267

247

2,509

174,166

4,795

295

105,865

136

138,025

2

236

636

73,877

8

558

57,981

222

1,642

27,344

331

211

14

Effects of exchange rate changes on cash and cash equivalents

-

-

-

-

-

24

10

-18

20

46

16

89

-8

-51

-25

-82

-57

-48

91

-22

-10

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Net increase in cash and cash equivalents

523,806

-856,806

829,276

-80,142

124,770

-1,275

-63,957

76,967

71,204

26,654

-129,570

141,201

-9,715

-14,524

14,435

-3,141

11,016

9,613

-2,243

-6,914

-17,452

30,302

7,121

2,902

4,955

3,141

-11,808

13,465

-5,292

685

6,634

-6,266

-23,489

30,786

-33,269

-33,809

-6,679

Supplemental disclosure of non-cash investing and financing activities:
Property, plant and equipment acquired but not paid

13,631

-6,668

-7,469

-17,717

42,119

7,738

693

12,508

12,513

4,888

1,825

1,330

775

106

-506

21

1,034

-1,816

2,552

133

836

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Unrealized gain (loss) on available-for-sale investments, before tax

-1,642

-109

-2,697

1,952

2,176

-40

462

476

-1,606

-482

49

-37

-5

-180

-145

82

473

-540

75

-59

195

-109

-167

28

8

7

-21

68

-7

-14

39

32

35

36

-38

-11

-2

Issuance of 136,559 and 86,532 shares of common stock to fund the Company’s 401(k) matching contribution for 2019 and 2018, respectively

12,007

0

0

0

7,409

0

0

3

4,300

0

0

0

3,008

0

0

5

2,146

1

0

0

835

0

0

0

456

0

0

0

354

0

0

0

274

0

0

0

169

Issuance of 2,158,991 shares of common stock upon settlement of convertible notes

0

41

1

0

182,435

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Retirement of equity component of convertible notes settled

-64,199

0

0

0

-300,768

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Issuance of common stock for business combinations

28,597

-

-

-

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Supplemental Cash Flow Information [Abstract]
Interest paid

3,725

184

3,729

3,676

1,712

0

4,541

49

48

50

50

51

50

52

52

52

53

86

1

4

4

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-