Ironwood pharmaceuticals, inc. (IRWD)
CashFlow / TTM
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)

84,134

21,505

-41,846

-236,845

-298,508

-282,368

-254,790

-112,736

-107,580

-116,937

-142,527

-143,434

-120,912

-81,708

-82,240

-96,426

-122,744

-142,669

-166,279

-160,877

-173,214

-189,618

-203,957

-223,744

-228,536

-272,812

-264,681

-155,271

-130,925

-72,624

-35,743

-104,011

-82,052

-64,852

0

0

0

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

5,574

5,580

5,407

3,209

2,757

3,859

3,005

3,793

5,322

6,442

9,384

9,818

10,377

10,300

10,317

10,907

11,572

11,630

11,783

12,163

12,043

12,331

12,461

12,363

12,120

11,729

11,450

11,412

11,433

11,325

11,198

10,452

10,546

9,999

0

0

0

Amortization of acquired intangible assets

-

-

-

-

-

8,111

11,587

12,325

9,270

6,214

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Loss on disposal of property and equipment

-63

-146

167

1,483

1,734

1,867

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

-

-

-

-

Share-based compensation expense

23,708

31,278

36,153

42,743

45,417

40,526

35,954

32,540

32,669

30,905

32,499

30,735

29,692

29,219

28,336

28,043

26,849

25,469

27,531

26,427

25,536

26,184

22,160

21,823

20,628

19,829

19,952

19,888

19,127

17,573

16,133

13,860

12,755

11,732

0

0

0

Change in fair value of note hedge warrants

-1,446

16,232

-88,275

-92,828

-56,741

-58,425

19,035

-6,439

-37,295

-21,049

-16,378

62,620

65,231

37,909

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Change in fair value of convertible note hedges

5,833

-19,255

102,508

98,806

62,856

67,168

-20,938

12,354

37,064

24,333

15,466

-72,402

-72,821

-46,055

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

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

-

-

-

-

-

-

-

-

-

309

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Gain on facility subleases

-

-

-

-

-

-

-

-

-

1,579

1,579

1,579

1,579

-3,480

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Accretion of discount/premium on investment securities

-

-

-

-

-

165

263

324

298

75

-137

-321

-432

-667

-953

-1,273

-1,293

-1,114

-983

-917

-1,110

-1,085

-994

-833

-1,003

-1,254

-1,401

-1,465

-1,235

-1,157

-1,223

-1,471

-1,816

-2,234

0

0

0

Non-cash interest expense

20,397

19,590

20,089

18,310

17,971

17,601

17,206

16,822

16,442

16,080

15,749

15,440

15,117

14,812

14,484

14,153

11,304

8,102

4,964

1,948

1,550

1,566

1,596

1,570

1,652

1,719

0

0

0

-

-

-

-

-

-

-

-

Non-cash change in fair value of contingent consideration

-

-

-

-

-

-31,045

-70,274

-37,383

-32,412

-31,310

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Loss on extinguishment of debt

-

-

-

-

-

-

-

-

-

-2,009

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

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

41,285

68,893

62,287

21,960

1,966

-1,207

-14,708

20,162

19,504

17,303

26,368

7,210

-1,871

10,336

16,744

26,098

19,169

28,679

22,285

23,648

24,566

23,680

12,654

-843

10,289

1,726

2,904

2,832

-61

835

-559

-161

-4,075

-2,243

0

0

0

Restricted cash

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

500

0

0

0

-

-

-

-

-2,833

0

0

0

Prepaid expenses and other current assets

3,227

1,046

-9,365

-8,511

-402

3,727

12,262

8,023

-252

-2,271

-874

1,101

1,604

3,069

3,077

1,373

-992

-2,568

-4,104

1,187

4,402

3,947

1,749

-3,311

-4,797

52

3,781

5,509

7,889

5,127

4,981

1,306

-251

-2,421

0

0

0

Inventory, net

-

-

1,179

449

190

806

1,448

1,727

493

-346

0

0

0

-

-

-

-

-

-

-

1,810

3,078

1,344

1,446

174

11,915

0

0

0

-

-

-

-

-

-

-

-

Other assets

0

-

-

-628

-692

-702

-129

-17

-56

-195

-158

-1,079

-1,459

-1,643

-2,265

-1,682

-1,021

-414

2,817

3,218

3,093

2,876

244

72

-91

-116

109

137

139

145

-138

-140

-127

-136

0

0

0

Accounts payable, related party accounts payable and accrued expenses

-22,644

-32,700

-27,609

-24,623

-6,846

2,678

-8,054

-284

-14,787

-7,725

-3,277

16,652

22,549

19,683

17,696

2,113

-2,665

-1,551

-4,341

3,138

2,477

1,425

4,963

-9,317

-28,663

-11,724

7,063

7,430

35,365

24,241

9,461

10,228

5,821

5,086

0

0

0

Accrued research and development costs

-1,774

-483

2,804

2,675

3,803

542

-4,296

-2,435

-2,929

-2,120

-170

801

-1,519

2,692

5,407

1,123

-2,645

671

579

3,295

7,507

162

-1,655

-2,711

-4,421

-2,252

-2,443

-1,961

-1,774

-1,346

-1,475

1,478

-94

-1,130

0

0

0

Deferred revenue

-

-

-

-

-

-

-

-

-

-

-

-8,294

-8,568

-8,989

-6,660

-4,065

-5,073

-7,191

-1,897

-1,688

-839

744

-4,020

-3,700

-4,241

-4,915

-4,154

-14,117

-24,767

-36,016

-47,648

-48,556

-47,137

-45,012

0

0

0

Operating lease right-of-use assets

-10,971

-14,141

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Operating lease liabilities

-8,923

-12,046

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Other liabilities

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Deferred rent

-

-

-

-

-

916

1,681

2,579

2,955

-1,053

-4,053

-7,033

-10,094

-7,143

-6,205

-5,274

-3,902

-3,871

1,183

1,491

1,920

1,811

-2,829

-2,732

-2,726

-2,716

-1,926

-2,369

-2,658

-2,149

-2,794

-2,312

-502

-934

0

0

0

Other liabilities

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

0

-

-

-

-

-

-

-

-

Net cash provided by (used in) continuing operating activities

96,713

-639

0

0

0

-

-

-

-

-

-

-

-

-

-

-

0

-

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

0

Net cash provided by discontinued operating activities

-

11,364

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Net cash provided by (used in) operating activities

96,713

10,725

-7,582

-68,927

-82,381

-70,882

-89,369

-94,033

-103,793

-100,753

0

0

0

-

-

-

-

-

-

-

-

-

-

-

0

-

-253,736

-156,787

-119,754

-69,633

0

0

0

-

-

-

-

Cash flows from investing activities:
Purchases of property and equipment

0

-

-

-

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Purchases of available-for-sale securities

-

-

-

-

-

3,241

63,867

103,139

149,068

191,354

278,615

349,193

303,264

311,116

192,322

132,496

262,306

281,958

265,996

249,143

246,580

253,995

321,500

350,302

248,770

287,943

243,120

196,638

192,239

96,709

76,883

85,084

81,414

97,511

0

0

0

Sales and maturities of available-for-sale securities

-

-

-

-

-

99,165

107,069

158,375

261,680

346,890

352,570

306,087

294,268

237,423

268,675

320,064

259,686

276,707

264,499

218,001

220,452

200,964

204,758

223,929

257,330

196,102

211,249

184,674

124,782

140,757

114,514

165,893

183,408

222,254

0

0

0

Purchases of property and equipment

-

-

-

-

-

351

-309

2,504

3,275

2,803

4,407

4,329

4,235

4,206

3,801

2,832

3,070

4,049

4,295

4,355

4,231

3,538

6,217

6,725

7,950

9,592

9,258

11,832

12,273

13,979

14,244

11,252

10,856

9,682

0

0

0

Proceeds from sale of property and equipment

-

268

1,197

1,551

1,788

1,563

645

329

125

135

0

0

0

-

-

-

-

147

0

0

0

-

-

-

-

-

-

-

-

-

-

-

0

-

-

-

-

Net cash (used in) provided by continuing investing activities

-9,605

-6,921

0

0

0

-

-

-

-

-

-

-

-

-

-

-

0

-

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

0

Net cash used in discontinued investing activities

-

-4,223

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Net cash used in investing activities

-9,605

-11,144

9,005

26,367

41,236

88,866

37,525

49,899

108,054

151,460

0

0

0

-

-

-

-

-

-

-

-

-

-

-

0

-

-41,129

-23,787

-79,725

30,078

0

0

0

-

-

-

-

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

22,063

13,595

12,057

18,221

29,345

32,061

34,143

26,941

24,402

26,370

33,667

37,151

31,171

24,841

12,875

9,418

8,091

14,196

20,810

22,618

26,835

22,741

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

Payments on capital lease obligations

-

-

-

-

-

1,824

2,650

3,151

3,265

3,234

3,066

2,668

2,286

1,903

1,596

1,584

1,452

1,317

1,236

1,099

1,065

1,062

1,059

1,144

970

768

571

289

279

275

257

248

253

260

0

0

0

Payments on 2026 Notes

-

156,409

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Principal payments on PhaRMA notes

-

-

-

-

-

-

-

-

-

134,258

142,663

149,827

155,828

26,868

22,728

19,317

15,760

12,712

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Proceeds from issuance of common stock

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

190,428

0

0

0

-

-

-

-

85,228

0

0

0

-

-

-

-

Proceeds from issuance of PhaRMA notes payable

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

175,000

0

0

0

-

-

-

-

-

-

-

-

Costs associated with issuance of 2026 Notes

-

-

-

-

-

-

-

-

-

235

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

7,717

0

0

0

-

-

-

-

-

-

-

-

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

-

-

-

-

-

-

-

-

-

146,250

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Payments on contingent purchase price consideration

-

-

-

-

-

165

107

15,123

15,093

15,058

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

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

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

6,165

4,020

3,555

3,642

3,663

3,393

0

0

0

Net cash provided by (used in) continuing financing activities

19,535

-1,185

0

0

0

-

-

-

-

-

-

-

-

-

-

-

0

-

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

0

Net cash provided by (used in) financing activities

19,535

-1,185

-2,783

-3,606

16,022

30,072

31,386

8,667

6,018

19,835

0

0

0

-

-

-

-

-

-

-

-

-

-

-

0

-

313,450

312,952

173,169

88,973

0

0

0

-

-

-

-

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

106,643

-1,604

-1,360

-46,166

-25,123

48,056

-20,458

-35,467

10,279

70,542

-21,988

-96,891

-148,108

-207,784

-65,140

20,882

217,234

186,990

196,808

161,093

-141,437

-1,193

-93,183

-124,104

99,827

-61,210

18,585

132,378

-26,310

49,418

57,047

38,898

85,398

42,961

0

0

0

Supplemental cash flow disclosure:
Cash paid for interest

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

64

0

0

0

Non-cash investing and financing activities
Purchases under capital leases

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

325

0

0

0