Ironwood pharmaceuticals, inc. (IRWD)
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 Income (Loss)

3,345

47,858

20,648

12,283

-59,284

-15,493

-174,351

-49,380

-43,144

12,085

-32,297

-44,224

-52,501

-13,505

-33,204

-21,702

-13,297

-14,037

-47,390

-48,020

-33,222

-37,647

-41,988

-60,357

-49,626

-51,986

-61,775

-65,149

-93,902

-43,855

47,635

-40,803

-35,601

-6,974

-20,633

-18,844

-18,401

Adjustments to reconcile net income (loss) to net cash used in operating activities:
Depreciation and amortization

682

867

3,174

851

688

694

976

399

1,790

-160

1,764

1,928

2,910

2,782

2,198

2,487

2,833

2,799

2,788

3,152

2,891

2,952

3,168

3,032

3,179

3,082

3,070

2,789

2,788

2,803

3,032

2,810

2,680

2,676

2,286

2,904

2,133

Amortization of acquired intangible assets

-

-

-

-

-

0

1,159

3,476

3,476

3,476

1,897

421

420

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Loss on disposal of property and equipment

-16

-37

0

-10

-99

276

1,316

241

34

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-1

-

-

-

-

Share-based compensation expense

6,364

5,486

5,521

6,337

13,934

10,361

12,111

9,011

9,043

5,789

8,697

9,140

7,279

7,383

6,933

8,097

6,806

6,500

6,640

6,903

5,426

8,562

5,536

6,012

6,074

4,538

5,199

4,817

5,275

4,661

5,135

4,056

3,721

3,221

2,862

2,951

2,698

Change in fair value of note hedge warrants

-12,053

15,492

-15,688

10,803

5,625

-89,015

-20,241

46,890

3,941

-11,555

-45,715

16,034

20,187

-6,884

33,283

18,645

-7,135

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Change in fair value of convertible note hedges

15,519

-20,009

20,454

-10,131

-9,569

101,754

16,752

-46,081

-5,257

13,648

50,044

-21,371

-17,988

4,781

-37,824

-21,790

8,778

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Write-down of excess non-cancellable ZURAMPIC and DUZALLO sample purchase commitments

-

-

-

-

-

-

-

-

-

-1,044

0

0

1,353

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Gain on facility subleases

-

-

-

-

-

-

-

-

-

0

0

0

1,579

0

0

0

-3,480

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Accretion of discount/premium on investment securities

-

-

-

-

-

8

19

20

118

106

80

-6

-105

-106

-104

-117

-340

-392

-424

-137

-161

-261

-358

-330

-136

-170

-197

-500

-387

-317

-261

-270

-309

-383

-509

-615

-727

Non-cash interest expense

5,416

4,058

6,232

4,691

4,609

4,557

4,453

4,352

4,239

4,162

4,069

3,972

3,877

3,831

3,760

3,649

3,572

3,503

3,429

800

370

365

413

402

386

395

387

484

453

-

-

-

-

-

-

-

-

Non-cash change in fair value of contingent consideration

-

-

-

-

-

0

-33,519

1,962

512

-39,229

-628

6,933

1,614

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Loss on extinguishment of debt

-

-

-

-

-

-

-

-

-

0

0

0

-2,009

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Changes in assets and liabilities:
Accounts receivable and related party accounts receivable, net

-35,941

22,181

25,183

29,862

-8,333

15,575

-15,144

9,868

-11,506

2,074

19,726

9,210

-13,707

11,139

568

129

-1,500

17,547

9,922

-6,800

8,010

11,153

11,285

-5,882

7,124

127

-2,212

5,250

-1,439

1,305

-2,284

2,357

-543

-89

-1,886

-1,557

1,289

Restricted cash

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

0

500

-

-

-

-

0

0

0

-2,833

Prepaid expenses and other current assets

-301

625

3,068

-165

-2,482

-9,786

3,922

7,944

1,647

-1,251

-317

-331

-372

146

1,658

172

1,093

154

-46

-2,193

-483

-1,382

5,245

1,022

-938

-3,580

185

-464

3,911

149

1,913

1,916

1,149

3

-1,762

359

-1,021

Inventory, net

-

-

451

483

152

93

-279

224

768

735

0

-1,010

-71

-

-

-

-

-

-

-

-4

3,302

48

-1,536

1,264

1,568

150

-2,808

13,005

-

-

-

-

-

-

-

-

Other assets

51

-

-

58

-52

-583

-51

-6

-62

-10

61

-45

-201

27

-860

-425

-385

-595

-277

236

222

2,636

124

111

5

4

-48

-52

-20

229

-20

-50

-14

-54

-22

-37

-23

Accounts payable, related party accounts payable and accrued expenses

-11,768

4,575

-12,070

-3,381

-21,824

9,666

-9,084

14,396

-12,300

-1,066

-1,314

-107

-5,238

3,382

18,615

5,790

-8,104

1,395

3,032

1,012

-6,990

-1,395

10,511

351

-8,042

2,143

-3,769

-18,995

8,897

20,930

-3,402

8,940

-2,227

6,150

-2,635

4,533

-2,962

Accrued research and development costs

-670

-1,504

-1,314

1,714

621

1,783

-1,443

2,842

-2,640

-3,055

418

2,348

-1,831

-1,105

1,389

28

2,380

1,610

-2,895

-3,740

5,696

1,518

-179

472

-1,649

-299

-1,235

-1,238

520

-490

-753

-1,051

948

-619

2,200

-2,623

-88

Deferred revenue

-

-

-

-

-

-

-

-

-

-

-

-516

741

-4,127

-4,392

-790

320

-1,798

-1,797

-1,798

-1,798

3,496

-1,588

-949

-215

-1,268

-1,268

-1,490

-889

-507

-11,231

-12,140

-12,138

-12,139

-12,139

-10,721

-10,013

Operating lease right-of-use assets

-296

-2,050

-5,776

-2,849

-3,466

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Operating lease liabilities

294

-9,366

2,005

-1,856

-2,829

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Other liabilities

-29

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Deferred rent

-

-

-

-

-

200

61

202

453

965

959

578

-3,555

-2,035

-2,021

-2,483

-604

-1,097

-1,090

-1,111

-573

3,957

-782

-682

-682

-683

-685

-676

-672

107

-1,128

-965

-163

-538

-646

845

-595

Other liabilities

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

744

-83

-

-

-

-

-

-

-

-

Net cash provided by (used in) continuing operating activities

43,603

27,580

34,767

-9,237

-53,749

-

-

-

-

-

-

-

-

-

-

-

161

-

-26,230

-25,554

-35,784

-

-

-

-

-

-

-

-

-

-

-

-

-

-25,415

-18,208

-23,913

Net cash provided by discontinued operating activities

-

0

0

0

11,364

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Net cash provided by (used in) operating activities

43,603

27,580

34,767

-9,237

-42,385

9,273

-26,578

-22,691

-30,886

-9,214

-31,242

-32,451

-27,846

-

-

-

-

-

-

-

-

-

-

-

-57,894

-

-57,954

-80,140

-93,183

-22,459

38,995

-43,107

-43,062

-

-

-

-

Cash flows from investing activities:
Purchases of property and equipment

1,438

-

-

-

-988

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Purchases of available-for-sale securities

-

-

-

-

-

0

750

0

2,491

60,626

40,022

45,929

44,777

147,887

110,600

0

52,629

29,093

50,774

129,810

72,281

13,131

33,921

127,247

79,696

80,636

62,723

25,715

118,869

35,813

16,241

21,316

23,339

15,987

24,442

17,646

39,436

Sales and maturities of available-for-sale securities

-

-

-

-

-

19,853

16,800

13,892

48,620

27,757

68,106

117,197

133,830

33,437

21,623

105,378

76,985

64,689

73,012

45,000

94,006

52,481

26,514

47,451

74,518

56,275

45,685

80,852

13,290

71,422

19,110

20,960

29,265

45,179

70,489

38,475

68,111

Purchases of property and equipment

-

-

-

-

-

254

-1,350

-62

1,509

-406

1,463

709

1,037

1,198

1,385

615

1,008

793

416

853

1,987

1,039

476

729

1,294

3,718

984

1,954

2,936

3,384

3,558

2,395

4,642

3,649

566

1,999

3,468

Proceeds from sale of property and equipment

-

7

0

3

258

936

354

240

33

18

38

36

43

-

-

-

-

110

10

4

23

-

-

-

-

-

-

-

-

-

-

-

4

-

-

-

-

Net cash (used in) provided by continuing investing activities

-1,438

-2,661

-3,077

-2,429

1,246

-

-

-

-

-

-

-

-

-

-

-

23,348

-

21,832

-85,659

19,761

-

-

-

-

-

-

-

-

-

-

-

-

-

45,485

18,830

25,207

Net cash used in discontinued investing activities

-

0

0

0

-4,223

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Net cash used in investing activities

-1,438

-2,661

-3,077

-2,429

-2,977

17,488

14,285

12,440

44,653

-33,853

26,659

70,595

88,059

-

-

-

-

-

-

-

-

-

-

-

-6,472

-

-18,022

53,183

-108,515

32,225

-680

-2,755

1,288

-

-

-

-

Cash flows from financing activities:
Proceeds from exercise of stock options and employee stock purchase plan

11,955

6,447

1,944

1,717

3,487

4,909

8,108

12,841

6,203

6,991

906

10,302

8,171

14,288

4,390

4,322

1,841

2,322

933

2,995

7,946

8,936

2,741

7,212

3,852

-

-

-

-

-

-

-

-

-

-

-

-

Payments on capital lease obligations

-

-

-

-

-

2

312

683

827

828

813

797

796

660

415

415

413

353

403

283

278

272

266

249

275

269

351

75

73

72

69

65

69

54

60

70

76

Payments on 2026 Notes

-

0

134,940

9,217

12,252

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Principal payments on PhaRMA notes

-

-

-

-

-

-

-

-

-

0

0

0

134,258

8,405

7,164

6,001

5,298

4,265

3,753

2,444

2,250

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Proceeds from issuance of common stock

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

0

190,428

-

-

-

-

0

0

0

85,228

-

-

-

-

Proceeds from issuance of PhaRMA notes payable

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

0

175,000

-

-

-

-

-

-

-

-

Costs associated with issuance of 2026 Notes

-

-

-

-

-

-

-

-

-

0

0

26

209

-

-

-

-

-

-

-

-

-

-

-

-

0

0

0

7,717

-

-

-

-

-

-

-

-

Proceeds from issuance of 2026 Notes, net of discount to lender

-

-

-

-

-

-

-

-

-

0

0

0

146,250

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Payments on contingent purchase price consideration

-

-

-

-

-

58

-14

30

91

0

15,002

0

56

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Proceeds from exercise of stock options, and shares issued under employee stock purchase plan

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

3,090

1,139

538

1,398

945

674

625

1,419

675

Net cash provided by (used in) continuing financing activities

11,955

6,447

8,633

-7,500

-8,765

-

-

-

-

-

-

-

-

-

-

-

-3,870

-

-3,975

303,971

5,418

-

-

-

-

-

-

-

-

-

-

-

-

-

565

1,349

599

Net cash provided by (used in) financing activities

11,955

6,447

8,633

-7,500

-8,765

4,849

7,810

12,128

5,285

6,163

-14,909

9,479

19,102

-

-

-

-

-

-

-

-

-

-

-

194,005

-

967

141,116

170,300

1,067

469

1,333

86,104

-

-

-

-

Net increase (decrease) in cash, cash equivalents and restricted cash

54,120

31,366

40,323

-19,166

-54,127

31,610

-4,483

1,877

19,052

-36,904

-19,492

47,623

79,315

-129,434

-94,395

-3,594

19,639

13,210

-8,373

192,758

-10,605

23,028

-44,088

-109,772

129,639

-68,962

-75,009

114,159

-31,398

10,833

38,784

-44,529

44,330

18,462

20,635

1,971

1,893

Supplemental cash flow disclosure:
Cash paid for interest

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

17

12

20

15

Non-cash investing and financing activities
Purchases under capital leases

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

0

325