Revance therapeutics, inc. (RVNC)
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'14
CASH FLOWS FROM OPERATING ACTIVITIES
Net loss

-61,900

-45,300

-41,400

-37,396

-35,304

-40,616

-32,834

-34,081

-35,037

-35,907

-30,651

-26,873

-27,156

-26,832

-17,978

-24,602

-19,888

-22,094

-19,175

-16,805

-15,402

-14,212

-13,977

-13,302

-21,426

Adjustments to reconcile net loss to net cash used in operating activities:
Interest for 2013 Notes and Essex Notes upon issuance, non-cash

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

0

271

Capitalized interest

-

-

-

-

-

-

-

-

-

-

21

16

0

-

-

-

-

-

-

-

-

323

238

180

231

Effective interest on financing obligations

-

-

-

-

-

-

-

-

-

-

62

72

83

-

98

105

112

118

126

89

11

-38

66

0

0

Non-cash in-process research and development

11,200

-

-

-

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Amortization of discount on debt and capital leases

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

5

52

76

76

1,046

Amortization of debt issuance cost

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

39

55

49

47

52

Change in fair value of derivative liabilities associated with convertible notes

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

0

4,032

Change in fair value of derivative liability associated with Medicis settlement

-

-

-

-

-

-

-

-

-

-

-44

-107

-60

-

-167

-414

-14

67

13

89

-42

106

67

-77

-416

Change in fair value of common stock warrant liability

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

0

2,151

Change in fair value of convertible preferred stock warrant liability

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

0

210

Extinguishment of warrant liability upon exercise of put option

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

0

1,356

Loss on extinguishment of 2013 Notes

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

0

-8,331

Stock-based compensation

6,544

5,040

4,303

4,420

4,159

3,851

4,092

4,172

4,158

3,410

3,146

3,519

3,155

2,969

2,755

3,252

2,977

5,074

2,590

2,407

2,317

1,919

2,284

1,517

810

Amortization of debt discount and issuance costs

1,505

-

-

-

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Depreciation and amortization

739

-

-

-

628

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Depreciation

-

-

-

-

-

475

444

417

390

372

374

365

357

377

369

355

344

409

511

544

531

490

542

531

488

Amortization of discount on investments

513

422

734

832

649

199

294

355

255

-28

-56

-132

-194

-183

-243

-330

-456

-237

-236

-128

0

-

-

-

-

Other non-cash operating activities

-371

-

-

-

-88

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Other non-cash operating activities

-

-

-

-

-

-3

-85

201

62

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Issuance of common stock for service rendered

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

17

Changes in operating assets and liabilities:
Accounts receivable

0

-5,000

5,000

0

-27,000

-

-

-

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Prepaid expenses and other current assets

467

-49

-1,477

1,885

1,018

-2,230

-1,829

4,660

2,310

-217

-5,771

-5

1,144

-231

5,778

-227

301

58

-278

60

352

-1,655

1,314

-1,088

2,428

Operating lease right of use assets

-570

-546

-524

-502

3,440

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Other non-current assets

-175

-579

-146

-752

-101

-48

-372

2,581

-290

-85

-16

573

-69

151

0

0

0

-5

-369

132

213

383

183

-198

1,253

Accounts payable

789

690

-729

3,415

-3,736

898

1,751

311

-1,269

-142

2,280

-666

1,135

753

-79

-273

552

-215

461

257

-1,195

125

560

-2,140

-1,944

Accruals and other liabilities

-2,373

33

4,446

1,384

-2,298

-401

3,163

706

-1,980

158

-2,541

-362

2,055

1,681

5,854

-87

54

83

759

1,146

1,191

1,133

-455

-180

1,813

Deferred revenue

942

-89

4,954

0

-278

29,514

-2,362

-687

24,807

0

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-83

Operating lease liabilities

-822

-756

-734

-696

3,333

-

-

-

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Deferred rent

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-49

-49

-48

-403

Payments against Medicis liabilities

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

0

-7,073

Net cash used in operating activities

-43,289

-33,508

-31,949

-29,290

-11,414

-31,141

-25,404

-36,557

-11,144

-28,396

-21,464

-24,290

-21,192

-13,468

-14,349

-16,330

-15,680

-16,451

-13,706

-12,486

-13,026

-9,122

-12,691

-12,154

-21,106

CASH FLOWS FROM INVESTING ACTIVITIES
Purchases of investments

159,412

102,794

63,598

37,613

127,357

102,714

0

12,932

199,265

0

0

0

36,028

120,927

-1

1

159,754

0

1,011

53,076

0

-

-

-

-

Purchases of property and equipment

539

288

1,484

382

1,084

1,624

3,032

1,267

1,068

488

530

1,211

296

518

158

304

690

479

557

491

1,801

1,531

2,026

2,433

985

Purchase of intangible assets

118

-

-

-

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Proceeds from maturities of investments

54,500

134,000

66,000

92,000

25,000

96,000

32,000

18,000

0

96,790

15,000

37,905

7,750

68,600

93,000

31,000

15,050

1,000

0

0

0

-

-

-

-

Purchases of property and equipment

-

-

-

-

-

4

1,391

131

15

0

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

Proceeds from sale of investments

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

0

1,000

0

0

0

0

-

-

-

-

Change in restricted cash

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

-75

-

0

0

-75

CASH FLOWS FROM FINANCING ACTIVITIES

-105,569

30,919

918

54,012

-103,441

59,101

30,359

3,832

-200,318

96,302

14,470

36,594

-28,574

-52,843

92,843

28,895

-144,394

446

-1,568

-53,567

-1,726

-1,606

-2,026

-2,433

-910

Proceeds from issuance of common stock in connection with offerings, net of commissions and discount
Payments to settle warrants

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

0

1,438

Payment of offering costs

-

-

-

-

-

0

0

125

241

203

174

62

205

0

61

145

37

0

0

0

0

-

-

-

-

Proceeds from issuance of common stock, net of deferred initial public offering costs

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

0

102,672

Proceeds from issuance of convertible notes and notes payable

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

0

6,750

Proceeds from issuance of convertible senior notes

287,500

-

-

-

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Proceeds from issuance of common stock in connection with offerings, net of commissions and discount

15,581

103,870

0

0

108,100

-

-

-

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Proceeds from Issuance of Common Stock

-

-

-

-

-

-

-

-

-

0

9,660

2,883

26,217

0

0

0

0

-

-

-

-

-

-

-

-

Proceeds from the exercise of stock options and common stock warrants

572

457

0

462

18

470

988

3,217

617

2,453

555

1,351

210

399

312

429

509

2,015

151

414

173

369

1,099

288

15

Payments for Derivative Instrument, Financing Activities

28,865

-

-

-

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Payment of convertible senior notes transaction costs

8,703

-

-

-

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Net settlement of restricted stock awards for employee taxes

1,401

149

81

99

1,049

306

93

147

1,666

143

33

120

277

148

18

117

224

231

142

620

0

-

-

-

-

Payment of offering costs

337

-

-

-

201

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Principal payments made on financing obligations

-

-

-

-

-

0

0

0

932

909

885

898

944

919

897

874

851

830

812

872

84

82

80

64

2

Principal payments made on notes payable

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

0

2,652

6,086

2,124

2,064

2,042

Net cash provided by financing activities

264,347

114,827

-81

43

106,868

164

895

2,945

-2,222

158,666

9,123

3,154

25,001

-668

-664

-707

-603

127,051

9,351

8,753

-2,563

-5,801

-1,105

130,042

105,955

NET INCREASE (DECREASE) IN CASH, CASH EQUIVALENTS, AND RESTRICTED CASH

115,489

-

-

-

-7,987

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

NET INCREASE (DECREASE) IN CASH, CASH EQUIVALENTS, AND RESTRICTED CASH

-

-

-

-

-

28,124

5,850

-29,780

-213,684

226,572

2,129

15,458

-24,765

-66,979

77,830

11,858

-160,677

111,046

-5,923

-57,300

-17,315

-16,529

-15,822

115,455

83,939

SUPPLEMENTAL DISCLOSURES OF NON-CASH INVESTING AND FINANCING INFORMATION:
Issuance of common stock in connection with the Teoxane Agreement

43,400

-

-

-

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Property and equipment purchases included in accounts payable and accruals

-

-

-

-

-

-

-1,208

1,289

839

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Issuance of convertible preferred stock warrants

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

0

80

Accrued transaction costs on convertible senior notes

487

-

-

-

0

-

-

-

109

240

-104

37

78

134

-32

-147

179

-

84

0

0

-

-

-

-

Cash paid for income taxes

-

-

-

-

-

0

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Cash paid for interest

-

-

-

-

-

-

-

-

-

40

63

86

110

134

158

181

203

238

264

190

110

211

275

324

372

SUPPLEMENTAL DISCLOSURES OF NON-CASH INVESTING AND FINANCING INFORMATION:
Conversion of Series E-1, E-2, E-3, E-4 and E-5 preferred stock into common stock

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

0

123,982

Conversion of 2013 Notes into common stock

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

0

26,206

Issuance of common stock upon net exercise of common stock warrants in connection with IPO

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

0

6,490

Fair value in excess of debt host for derivative liabilities associated with convertible notes

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

0

1,050

Deferred initial public offering costs

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-546

546

0

4,028

Conversion of preferred stock warrants to common stock warrants

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

0

1,441

Termination of stock option repurchase right

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

0

58

Issuance of common stock warrants in connection with the 2013 Notes

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

0

981

Property and equipment purchases included in accounts payable and accruals

247

-

-

-

1,108

-

-

-

-

289

361

-814

882

171

-61

-57

147

392

75

-174

194

516

-652

-2,110

3,594

Accrued offering costs

0

-

-

-

320

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-