Novavax inc (NVAX)
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
Operating Activities:
Net loss

-25,864

-

-

-

-43,218

-

-

-

-46,352

-50,842

-44,608

-44,465

-43,854

-57,109

-66,254

-79,351

-77,252

-78,806

-33,120

-20,641

-24,370

-31,546

-19,727

-17,864

-13,810

-14,054

-15,299

-12,634

-9,996

-8,035

-7,216

-5,920

-7,336

-3,705

-3,213

-4,993

-7,453

Reconciliation of net loss to net cash used in operating activities:
Change in fair value of warrant liability

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

300

-401

-101

101

501

736

1,304

-67

Depreciation and amortization

925

932

880

1,925

1,939

1,982

2,041

2,057

2,079

2,121

3,529

2,056

2,111

2,218

2,221

2,112

1,954

1,636

1,552

1,486

1,309

1,429

1,039

976

980

955

675

512

449

450

406

406

404

416

409

399

389

Loss on disposal of property and equipment

0

0

0

0

-88

0

10

-2

47

25

2

-231

-65

-374

0

0

0

-

-

-

-

-

-

-

-

-5

-6

26

17

2

7

19

0

-

-

-

-

Non-cash impact of lease termination

-

-

-

-

-

0

0

0

-4,381

-

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Amortization of net (discounts) premiums on marketable securities

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-146

-

-362

-166

-427

-309

-186

179

-99

-181

-94

-138

-94

18

0

0

0

0

-86

-81

-150

Amortization of debt issuance costs

356

356

356

356

356

356

356

356

356

357

355

356

356

356

356

356

237

0

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Deferred rent

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-189

-170

-195

-

-257

-258

213

-

-

-

-

-

-

-

-

-

-

-

-

Lease incentives received

-

-

-

-

-

-

-

-

-

-

0

237

1,248

0

0

1,963

0

-

-

-

-

-

-

-

-

0

0

0

703

1,543

702

544

1,557

-

-

-

-

Non-cash stock-based compensation

3,965

4,245

2,624

4,621

5,558

4,386

4,431

4,252

5,245

6,752

4,331

4,513

4,213

3,780

5,162

5,257

4,961

4,153

4,764

2,582

1,932

1,507

1,691

1,852

1,040

696

663

638

483

423

492

589

587

370

542

703

432

Realized gains on marketable securities

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

0

615

0

0

0

0

-

-

-

-

-

-

-

-

Other

0

-3,600

0

-1,283

14

576

753

632

435

-246

-1,122

-1,353

6

303

-647

-221

-98

-1,320

-62

68

-146

-73

17

-1

-3

878

-220

-218

-240

436

-185

85

-336

87

86

85

83

Changes in operating assets and liabilities:
Restricted cash

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-2,610

-1,092

-1,278

36,501

0

0

-297

297

-203

-133

-1,081

1,293

124

-217

-769

148

838

0

0

-

-

-

-

Accounts receivable

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-500

-6,044

78

2,818

-829

-731

2,559

160

395

-1,695

1,591

-1,458

971

-227

-240

1,948

-1,815

1,815

-37

Accounts receivable - unbilled

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-606

-1,274

1,125

1,794

1,379

244

1

-155

-2,506

2,822

-427

-2,012

1,828

1,186

834

Prepaid expenses and other assets

-4,521

5,528

1,291

-2,913

296

480

-1,303

-389

0

-2,163

1,442

-776

-1,093

357

1,826

-427

-637

-4,746

3,087

958

2,491

2,556

1,525

307

1,516

237

63

-648

-54

-311

329

125

-183

727

491

541

95

Accounts payable and accrued expenses

-8,450

5,397

-5,930

901

-11,853

3,754

-3,993

6,788

-13,293

4,828

469

4,762

-4,867

-11,204

-2,632

7,546

1,482

16,781

633

-765

-7,574

14,143

1,115

2,728

-4,007

3,561

663

1,550

-1,590

2,313

-765

978

-517

1,001

121

-2,157

-1,651

Deferred revenue

1,437

-915

-1,839

-2,410

-3,167

-5,354

7,682

-8,691

-9,247

-

-

18,321

-5,399

-77

-2,649

-1,687

-1,644

36,035

-4

2

107

7

-17

-28

-215

-142

59

-78

-180

-545

803

0

0

-

-

-

-

Other liabilities

-

-

-

-

-

-

-

-

-

-

-

-

543

2,753

9

178

-1,728

-721

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Net cash used in operating activities

-23,110

-23,743

-32,259

-30,014

-50,607

-45,266

-33,513

-39,971

-66,075

-43,399

-44,177

-12,403

-44,497

-64,549

-62,356

-62,032

-69,831

-54,751

-28,527

-12,322

-30,490

-19,768

-15,874

-10,941

-20,431

-12,263

-14,880

-7,633

-10,583

-3,252

-4,631

-6,126

-4,220

-2,869

-3,321

-8,398

-9,041

Investing Activities:
Capital expenditures

122

216

360

476

805

517

396

309

150

646

1,225

1,234

1,084

3,193

3,963

5,529

5,517

4,620

4,408

4,376

4,864

2,391

3,031

957

889

1,023

1,605

1,615

1,542

2,139

1,126

304

772

196

236

137

41

Proceeds from maturities of marketable securities

0

0

15,000

2,500

22,000

51,813

47,190

28,394

22,721

68,385

59,208

44,479

86,130

117,904

133,654

68,560

82,657

88,412

73,757

33,900

29,450

35,425

5,000

2,850

10,590

10,151

13,981

4,414

5,235

17,907

0

2,500

0

1,000

4,860

6,850

8,525

Proceeds from disposal of property and equipment

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

33

2

30

51

6

151

167

0

-

-

-

-

Purchases of marketable securities

57,606

0

15,000

0

2,484

2,978

38,798

76,390

1,984

50,976

16,025

40,714

110,330

28,806

37,120

44,050

246,580

74,233

78,559

68,931

6,798

15,687

56,096

104,686

0

-

-

-

-

-

-

-

-

-

-

-

-

Purchases of investments

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

6,036

8,718

-

6,374

6,891

2,498

0

1,000

583

499

Net cash provided by (used in) investing activities

-57,728

-216

17,973

2,024

18,711

48,318

7,996

-48,305

20,587

16,763

41,958

2,531

-25,284

85,905

92,571

18,981

-169,440

9,559

-9,210

-39,407

17,788

17,347

-54,100

-102,781

9,701

9,161

15,412

-3,207

-4,974

-17,115

-7,349

-4,528

-3,270

804

3,624

6,130

7,985

Financing Activities:
Principal payments of capital leases

-

-

-

-

-

-

-

-

-

0

0

19

18

18

16

18

19

18

16

17

16

66

26

26

6

33

25

15

14

14

90

0

0

-

-

-

-

Principal payments of notes payable

-

-

-

-

-

-

-

-

-

-

-

-

-

-45

-104

-103

-143

-142

-143

-151

-164

-166

-167

-170

-168

-168

-169

-97

-39

-40

0

-7

-13

-20

-20

-20

-20

Proceeds from notes payable

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

641

809

0

550

0

100

-

-

-

-

Changes in restricted cash

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-1

0

0

-1

-1

1

0

-1

0

-1

0

-755

-

-

-

-

Proceeds from issuance of convertible notes

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

0

325,000

0

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Payments of costs related to issuance of convertible notes

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

0

9,966

0

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Payments for capped call transactions and costs

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

0

38,521

0

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Net proceeds from sales of common stock

185,918

30,172

11,978

3

55,239

3,574

0

53,887

42,599

17,396

23,294

8,150

14,585

0

0

0

0

0

7,182

3,474

193,619

0

-4

107,900

0

-11

118,641

3,593

6,425

27,077

6,902

12,100

7,923

1,798

902

6,963

1,317

Proceeds from the exercise of stock options and employee stock purchases

5

0

50

0

942

283

1,020

117

1,325

19

336

0

797

9

1,419

374

2,000

361

1,625

758

2,057

501

778

165

1,345

304

924

269

1

5

23

22

4

23

41

59

56

Net cash provided by financing activities

185,923

30,172

12,028

3

56,181

3,857

1,020

54,004

43,924

17,415

23,630

8,131

15,364

765

480

253

278,351

201

8,522

4,064

195,496

268

581

107,698

1,170

92

119,371

4,391

7,181

27,028

7,384

12,115

7,259

1,851

923

7,002

1,353

Effect of exchange rate on cash, cash equivalents and restricted cash

-73

37

-47

23

-45

14

-26

-10

-26

-38

119

30

31

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Net increase in cash, cash equivalents and restricted cash

105,012

6,250

-2,305

-27,964

24,240

6,923

-24,523

-34,282

-1,590

-9,259

21,530

-1,711

-54,386

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Effect of exchange rate on cash and cash equivalents

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-142

-32

37

-45

-25

-1

-79

15

9

-40

10

-12

16

0

0

-

-

-

-

-

-

-

-

Net (decrease) increase in cash and cash equivalents

-

-

-

-

-

-

-

-

-

-

-

-

-

-

30,553

-42,830

39,117

-45,036

-29,240

-47,666

182,715

-2,138

-69,384

-6,064

-9,550

-3,022

119,919

-6,449

-8,376

6,661

-4,596

1,461

-231

-214

1,226

4,734

297

Supplemental disclosure of non-cash activities:
Sale of common stock under the Sales Agreement not settled at year-end

-

-

-

-

-

-

-

-

-

-

258

109

225

-

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

-

-

-

-

Common stock issued in connection with acquisition

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

376

-

-

-

-

-

-

-

-

Property and equipment purchases included in accounts payable and accrued expenses

125

-134

37

-48

194

393

-35

99

62

-66

-605

-137

823

-1,363

-652

-468

3,180

407

225

-953

3,118

1,616

159

626

214

-28

-619

604

422

-44

1,087

54

224

-

-

-

-

Deposit applied towards the purchase of equipment

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

0

500

-

-

-

-

Supplemental disclosure of cash flow information:
Cash payments of interest

6,094

0

6,094

0

6,094

0

6,094

0

6,094

0

6,094

0

6,094

3

6,165

9

12

17

22

26

31

36

43

48

52

57

59

41

20

20

0

0

0

-

-

-

-