Supernus pharmaceuticals, inc. (SUPN)
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 earnings

21,518

33,129

28,860

32,727

18,340

25,893

28,011

30,737

26,352

13,658

15,961

17,368

10,297

-

61,826

10,251

4,825

6,852

3,916

2,438

738

3,788

-2,371

3,201

-15,543

-22,406

-24,096

-27,357

-18,414

-13,513

-13,483

-10,011

-9,277

81,975

-9,734

-7,377

-11,049

Income from discontinued operations

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

76,394

417

1,563

-1,334

Loss from continuing operations

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

5,581

-10,151

-8,940

-9,715

Adjustments to reconcile net earnings to net cash provided by operating activities:
Non-recourse liability related to sale of future royalties

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

759

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Share-based compensation expense

3,988

3,623

3,914

4,022

3,287

2,991

2,597

3,068

2,635

1,986

2,360

2,260

1,827

1,472

1,483

1,612

1,359

1,079

1,132

977

902

732

806

652

667

653

491

432

337

208

130

53

52

-38

48

48

-140

Gain (Loss) on Extinguishment of Debt

-

-

-

-

-

-

-

-

-

0

-91

-103

-101

-289

0

0

-382

62

-25

-241

-2,134

0

-860

-39

-1,693

-

-

-

-

-

-

-

-

-

-

-

-

Gain on sale of property and equipment

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

-2

2

25

Change in fair value of derivative liability

-

-

-

-

-

-

-

-

-

0

0

22

54

99

125

123

101

127

114

1

-49

694

760

678

677

-662

-4,152

-8,620

80

56

-294

-144

-328

-95

-79

62

27

Unrealized loss on marketable securities

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

119

36

0

-1

-81

-154

146

32

28

35

2

-8

0

1

0

-2

Depreciation and amortization

1,732

1,630

1,674

1,676

1,679

1,692

1,884

1,780

1,707

1,670

4,378

1,343

741

671

611

688

429

270

220

217

214

227

241

233

227

216

200

164

162

221

212

213

225

228

224

219

208

Amortization of premium/discount on marketable securities

451

1,146

1,564

523

1,102

-160

-10

1,924

-89

221

15

-17

344

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Amortization of deferred financing costs and debt discount

4,100

4,000

4,000

3,900

3,800

3,700

3,800

3,688

612

0

0

19

31

-

-

-

-

-

-

-

-

491

512

513

574

963

1,183

804

83

82

84

81

83

59

60

60

39

Non-cash interest expense, net/ interest (income), net

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-119

250

155

-

-

64

463

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Noncash interest expense

1,366

1,444

1,480

1,414

1,437

1,175

1,191

1,204

701

160

155

160

959

984

1,004

1,281

1,279

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Noncash royalty revenue

1,600

1,900

1,600

1,800

1,600

1,600

1,500

1,500

1,300

1,592

1,380

1,179

1,149

1,222

1,140

1,205

1,119

1,031

776

626

605

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Noncash operating lease cost

991

-

-

-

879

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Deferred income tax benefit

538

-4,143

-2,550

582

279

2,066

-5,838

725

-1,120

7,910

1,642

7,414

4,258

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Changes in operating assets and liabilities:
Accounts receivable

31,823

593

2,095

4,574

-23,013

25,169

2,911

6,978

798

9,420

5,009

12,273

-2,643

5,307

1,939

3,629

4,744

2,304

5,704

-1,371

2,001

1,967

4,449

1,129

4,671

-2,165

6,671

-1,113

1,650

-

-

-

-

-

-

-

-

Interest receivable

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

192

119

8

-

-

-

-

-

-

-

-

Inventories

-2,210

1,124

-520

-494

859

2,379

2,600

1,605

2,771

1,357

-1,676

-2,544

2,366

-652

1,080

3,329

457

-2,155

1,150

-110

261

2,296

1,044

2,144

805

1,964

873

1,202

1,961

-

-

-

-

-

-

-

-

Prepaid expenses and other current assets

454

-1,513

655

1,782

1,799

-411

-5,282

7,998

62

854

921

172

1,619

-1,246

929

-1,729

-260

-1,211

2,055

776

-38

-112

237

359

660

67

-96

1,052

-134

583

53

386

158

110

-1,155

-278

1,570

Other noncurrent assets

0

0

1

-56

196

-342

0

0

342

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Accounts payable

-7,017

7,296

-1,220

-3,159

4,045

-6,644

6,904

-398

-3,440

692

-1,362

3,183

-3,133

5,099

442

-380

-1,691

1,112

-913

2,866

-1,004

-470

-255

-354

-975

-

-

-

-

-

-

-

-

-

-

-

-

Accrued product returns and rebates

11,824

9,579

2,116

7,734

-18,863

21,093

15,926

-2,990

4,691

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Accrued expenses and other current liabilities

-3,634

-4,931

2,427

1,870

-3,177

4,466

3,002

4,096

-1,132

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Accrued sales deductions

-

-

-

-

-

-

-

-

-

-

12,151

4,171

1,507

2,249

4,675

6,322

1,903

7,974

2,832

6,022

1,505

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Accrued expenses

-

-

-

-

-

-

-

-

-

-

4,052

582

-1,865

5,036

5,088

3,432

-6,017

966

2,882

-1,458

-1,883

2,629

-2,657

4,740

-2,681

-

-

-

-

-

-

-

-

-

-

-

-

Income taxes payable

6,654

-2,375

2,144

-14,559

4,856

3,829

8,548

-16,265

327

9,449

4,881

-67

1,668

-804

782

7

22

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Accounts payable and accrued expenses

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

2,998

1,103

238

-

1,755

260

-1,254

1,512

-1,756

131

-846

Deferred product revenue, net

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

-12,271

4,389

-2,482

6,398

416

3,551

-

-

-

-

-

-

-

-

Deferred licensing revenue

-

-

-

-

-

-

-

-

-

-72

-72

-72

-58

-51

-53

-52

300

256

-35

-36

-36

-36

-35

-66

-67

-66

623

-127

373

-139

408

-91

-58

-

-

-

-

Interest payable

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

138

Other liabilities

-1,020

-3,185

-1,148

343

-1,098

741

-1,783

889

984

5,619

417

563

-86

-194

-136

-77

73

510

461

795

-1,277

861

230

683

-576

-36

-13

434

44

-49

125

50

-17

-14

8

159

386

Net cash provided by (used in) operating activities

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-3,142

-

1,885

12,977

-265

-

-

-

-

-

-

-

-

-

-

-

-

-8,138

-10,409

-8,109

-11,550

Net cash provided by operating activities from discontinued operations

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-120

1,307

-915

1,749

Net cash provided by operating activities

8,916

43,791

37,658

28,687

32,993

32,849

62,448

6,556

27,133

36,335

39,005

25,942

13,358

-

-

-

-

-

-

-

-

-

-4,714

-6,940

-19,104

-9,421

-15,550

-15,755

-17,223

-16,140

-11,302

-9,689

-10,068

-8,258

-9,102

-9,024

-9,801

Cash flows from investing activities
Purchases of marketable securities

15,382

48,586

96,195

114,759

150,167

0

-1

433,898

57,757

22,951

30,470

26,275

22,193

16,170

8,155

5,704

17,335

11,917

17,015

16,960

17,967

18,696

14,664

10,496

9,406

6,599

17,964

45,361

15,643

41,198

19,652

15,018

21,806

0

0

4,042

13,848

Sales and maturities of marketable securities

53,357

68,703

88,302

49,022

47,143

34,556

25,805

12,123

7,343

5,605

10,633

7,279

5,140

9,426

6,740

8,258

7,400

3,910

11,809

13,131

8,731

11,486

14,894

17,997

9,096

28,140

23,253

11,547

12,866

32,052

9,742

7,381

293

15

10,420

8,086

8,349

Purchases of property and equipment

2,537

2,029

462

24

221

96

191

304

253

756

421

552

300

301

399

624

279

864

463

588

189

118

94

118

263

232

377

665

372

200

393

120

40

191

78

213

203

Deferred legal fees

0

1,348

0

0

1

130

278

58

343

1,024

906

5,816

3,408

6,597

8,536

3,252

436

3,999

3,090

2,123

1,695

625

-388

984

1,056

-

-

-

-

-

-

-

-

-

-

-

-

Net cash used in investing activities

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-10,650

-

-8,759

-6,540

-11,120

-

-

-

-

-

-

-

-

-

-

-

-

-176

10,342

3,831

-5,702

Net cash provided by (used in) investing activities

35,438

19,438

-8,355

-65,761

-103,246

34,330

25,337

-422,137

-51,010

-19,126

-21,164

-25,364

-20,761

-

-

-

-

-

-

-

-

-

524

6,399

-1,629

20,910

4,606

-34,479

-3,149

-9,346

-10,303

-7,757

-21,553

25,431

10,342

3,831

-5,702

Cash flows from financing activities
Proceeds from issuance of secured notes payable

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

15,000

Proceeds from issuance of convertible notes

-

-

-

-

-

0

0

0

402,500

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Payment of Financing and Stock Issuance Costs

-

-

-

-

-

0

0

0

10,435

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Proceeds from Issuance of Warrants

-

-

-

-

-

0

0

0

65,688

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Purchases Of Convertible Note Hedge

-

-

-

-

-

0

0

0

92,897

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Proceeds from issuance of common stock

32

1,263

242

1,640

783

1,251

828

6,646

2,857

1,171

2,346

1,560

604

797

260

871

124

800

58

862

147

306

14

245

6

273

11

217

1,936

48,288

39

52,359

49

-

-

-

-

Cash settlement of debt to equity conversion

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

0

1

-

-

-

-

-

-

-

-

-

-

-

-

Repayment of secured notes payable

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

21,512

2,832

2,756

2,248

1,334

437

-

-

-

-

Financing costs and underwriters discounts

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

29

3,473

125

3,156

16

2,203

669

270

35

14

656

Net cash provided by financing activities

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

124

-

58

862

147

-

-

-

-

-

-

-

-

-

-

-

-

14,758

-35

-13

14,344

Net cash used in financing activities from discontinued operations

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

129

-1,282

925

-1,739

Net cash provided by financing activities

32

1,263

242

1,640

783

1,251

828

6,646

367,713

1,171

2,346

1,560

604

-

-

-

-

-

-

-

-

-

30,014

245

5

-1,454

-18

65,232

-1,021

42,376

-2,225

48,822

-1,057

14,887

-1,317

912

12,605

Net change in cash and cash equivalents

44,386

64,492

29,545

-35,434

-69,470

68,430

88,613

-408,935

343,836

18,380

20,187

2,138

-6,799

12,093

18,149

16,326

-13,668

7,857

-6,816

7,299

-11,238

-1,384

25,824

-296

-20,728

10,035

-10,962

14,998

-21,393

16,890

-23,830

31,376

-32,678

32,060

-77

-4,281

-2,898

Supplemental cash flow information
Cash paid for interest on convertible notes

1,258

0

1,258

0

1,258

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

3,338

0

365

610

681

769

800

688

422

275

550

165

Income taxes paid

324

15,607

11,138

23,995

800

4,842

651

23,656

5,623

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Operating cash flows from operating leases

-

-

-

-

-

-

-

1,322

1,385

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Noncash investing and financing activities
Conversion of convertible notes and interest make-whole

-

-

-

-

-

-

-

-

-

2

1,562

1,961

1,023

2,024

0

0

2,138

1,070

963

3,880

21,176

0

4,211

258

10,418

-

-

-

-

-

-

-

-

-

-

-

-

Cash paid for interest-Discontinued operations

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

3,012

3,000

3,032

Deferred legal fees and fixed assets included in accounts payable and accrued expenses

708

1,337

215

30

250

-30

-200

176

304

-816

-547

-4,700

6,584

-2,798

2,383

1,758

3,779

2,923

1,998

1,692

3,176

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Property and equipment additions from utilization of tenant improvement allowance

0

-

-

-

282

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-