SUPERNUS PHARMACEUTICALS, INC. SUPN Cash Flow

Supernus pharmaceuticals, inc. (SUPN)

CashFlow / TTM

Mar'20	Dec'19	Sep'19	Jun'19	Mar'19	Dec'18	Sep'18	Jun'18	Mar'18	Dec'17	Sep'17	Jun'17	Mar'17	Dec'16	Sep'16	Jun'16	Mar'16	Dec'15	Sep'15	Jun'15	Mar'15	Dec'14	Sep'14	Jun'14	Mar'14	Dec'13	Sep'13	Jun'13	Mar'13	Dec'12	Sep'12	Jun'12	Mar'12	Dec'11	Sep'11	Jun'11	Mar'11
Cash flows from operating activities
Net earnings
116,234	113,056	105,820	104,971	102,981	110,993	98,758	86,708	73,339	57,284	0	0	96,693	-	83,754	25,844	18,031	13,944	10,880	4,593	5,356	-10,925	-37,119	-58,844	-89,402	-92,273	-83,380	-72,767	-55,421	-46,284	49,204	52,953	55,587	53,815	0	0	0
Income from discontinued operations
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	77,040	0	0	0
Loss from continuing operations
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-23,225	0	0	0
Adjustments to reconcile net earnings to net cash provided by operating activities:
Non-recourse liability related to sale of future royalties
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Share-based compensation expense
15,547	14,846	14,214	12,897	11,943	11,291	10,286	10,049	9,241	8,433	7,919	7,042	6,394	5,926	5,533	5,182	4,547	4,090	3,743	3,417	3,092	2,857	2,778	2,463	2,243	1,913	1,468	1,107	728	443	197	115	110	-82	0	0	0
Gain (Loss) on Extinguishment of Debt
-	-	-	-	-	-	-	-	-	-295	-584	-493	-390	-671	-320	-345	-586	-2,338	-2,400	-3,235	-3,033	-2,592	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-
Gain on sale of property and equipment
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	25	0	0	0
Change in fair value of derivative liability
-	-	-	-	-	-	-	-	-	76	175	300	401	448	476	465	343	193	760	1,406	2,083	2,809	1,453	-3,459	-12,757	-13,354	-12,636	-8,778	-302	-710	-861	-646	-440	-85	0	0	0
Unrealized loss on marketable securities
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	154	-46	-236	-90	-57	52	241	97	57	29	-5	-7	-1	0	0	0
Depreciation and amortization
6,712	6,659	6,721	6,931	7,035	7,063	7,041	9,535	9,098	8,132	7,133	3,366	2,711	2,399	1,998	1,607	1,136	921	878	899	915	928	917	876	807	742	747	759	808	871	878	890	896	879	0	0	0
Amortization of premium/discount on marketable securities
3,684	4,335	3,029	1,455	2,856	1,665	2,046	2,071	130	563	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Amortization of deferred financing costs and debt discount
16,000	15,700	15,400	15,200	14,988	11,800	8,100	4,300	631	50	0	0	0	-	-	-	-	-	-	-	-	2,090	2,562	3,233	3,524	3,033	2,152	1,053	330	330	307	283	262	218	0	0	0
Non-cash interest expense, net/ interest (income), net
-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	0	-	-	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Noncash interest expense
5,704	5,775	5,506	5,217	5,007	4,271	3,256	2,220	1,176	1,434	2,258	3,107	4,228	4,548	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Noncash royalty revenue
6,900	6,900	6,600	6,500	6,200	5,900	5,892	5,772	5,451	5,300	4,930	4,690	4,716	4,686	4,495	4,131	3,552	3,038	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Noncash operating lease cost
0	-	-	-	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Deferred income tax benefit
-5,573	-5,832	377	-2,911	-2,768	-4,167	1,677	9,157	15,846	21,224	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Changes in operating assets and liabilities:
Accounts receivable
39,085	-15,751	8,825	9,641	12,045	35,856	20,107	22,205	27,500	24,059	19,946	16,876	8,232	15,619	12,616	16,381	11,381	8,638	8,301	7,046	9,546	12,216	8,084	10,306	8,064	5,043	0	0	0	-	-	-	-	-	-	-	-
Interest receivable
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	0	-	-	-	-	-	-	-	-
Inventories
-2,100	969	2,224	5,344	7,443	9,355	8,333	4,057	-92	-497	-2,506	250	6,123	4,214	2,711	2,781	-658	-854	3,597	3,491	5,745	6,289	5,957	5,786	4,844	6,000	0	0	0	-	-	-	-	-	-	-	-
Prepaid expenses and other current assets
1,378	2,723	3,825	-2,112	4,104	2,367	3,632	9,835	2,009	3,566	1,466	1,474	-427	-2,306	-2,271	-1,145	1,360	1,582	2,681	863	446	1,144	1,323	990	1,683	889	1,405	1,554	888	1,180	707	-501	-1,165	247	0	0	0
Other noncurrent assets
-55	141	-201	-202	-146	0	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Accounts payable
-4,100	6,962	-6,978	1,146	3,907	-3,578	3,758	-4,508	-927	-620	3,787	5,591	2,028	3,470	-517	-1,872	1,374	2,061	479	1,137	-2,083	-2,054	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-
Accrued product returns and rebates
31,253	566	12,080	25,890	15,166	38,720	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Accrued expenses and other current liabilities
-4,268	-3,811	5,586	6,161	8,387	10,432	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Accrued sales deductions
-	-	-	-	-	-	-	-	-	-	20,078	12,602	14,753	15,149	20,874	19,031	18,731	18,333	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Accrued expenses
-	-	-	-	-	-	-	-	-	-	7,805	8,841	11,691	7,539	3,469	1,263	-3,627	507	2,170	-3,369	2,829	2,031	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-
Income taxes payable
-8,136	-9,934	-3,730	2,674	968	-3,561	2,059	-1,608	14,590	15,931	5,678	1,579	1,653	7	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Accounts payable and accrued expenses
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	0	-	2,273	-1,238	-1,367	-959	0	0	0
Deferred product revenue, net
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-7,882	-10,364	-3,966	8,721	7,883	0	0	0	-	-	-	-	-	-	-	-
Deferred licensing revenue
-	-	-	-	-	-	-	-	-	-274	-253	-234	-214	144	451	469	485	149	-143	-143	-173	-204	-234	424	363	803	730	515	551	120	0	0	0	-	-	-	-
Interest payable
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	0
Other liabilities
-5,010	-5,088	-1,162	-1,797	-1,251	831	5,709	7,909	7,583	6,513	700	147	-493	-334	370	967	1,839	489	840	609	497	1,198	301	58	-191	429	416	554	170	109	144	27	136	539	0	0	0
Net cash provided by (used in) operating activities
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	31,647	-	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-38,206	0	0	0
Net cash provided by operating activities from discontinued operations
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	2,021	0	0	0
Net cash provided by operating activities
119,052	143,129	132,187	156,977	134,846	128,986	132,472	109,029	128,415	114,640	0	0	0	-	-	-	-	-	-	-	-	-	-40,179	-51,015	-59,830	-57,949	-64,668	-60,420	-54,354	-47,199	-39,317	-37,117	-36,452	-36,185	0	0	0
Cash flows from investing activities
Purchases of marketable securities
274,922	409,707	361,121	264,925	584,064	491,654	514,605	545,076	137,453	101,889	95,108	72,793	52,222	47,364	43,111	51,971	63,227	63,859	70,638	68,287	61,823	53,262	41,165	44,465	79,330	85,567	120,166	121,854	91,511	97,674	56,476	36,824	25,848	17,890	0	0	0
Sales and maturities of marketable securities
259,384	253,170	219,023	156,526	119,627	79,827	50,876	35,704	30,860	28,657	32,478	28,585	29,564	31,824	26,308	31,377	36,250	37,581	45,157	48,242	53,108	53,473	70,127	78,486	72,036	75,806	79,718	66,207	62,041	49,468	17,431	18,109	18,814	26,870	0	0	0
Purchases of property and equipment
5,052	2,736	803	532	812	844	1,504	1,734	1,982	2,029	1,574	1,552	1,624	1,603	2,166	2,230	2,194	2,104	1,358	989	519	593	707	990	1,537	1,646	1,614	1,630	1,085	753	744	429	522	685	0	0	0
Deferred legal fees
1,348	1,349	131	409	467	809	1,703	2,331	8,089	11,154	16,727	24,357	21,793	18,821	16,223	10,777	9,648	10,907	7,533	4,055	2,916	2,277	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-
Net cash used in investing activities
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-38,819	-	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	8,295	0	0	0
Net cash provided by (used in) investing activities
-19,240	-157,924	-143,032	-109,340	-465,716	-413,480	-466,936	-513,437	-116,664	-86,415	0	0	0	-	-	-	-	-	-	-	-	-	26,204	30,286	-10,592	-12,112	-42,368	-57,277	-30,555	-48,959	-14,182	6,463	18,051	33,902	0	0	0
Cash flows from financing activities
Proceeds from issuance of secured notes payable
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0
Proceeds from issuance of convertible notes
-	-	-	-	-	402,500	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Payment of Financing and Stock Issuance Costs
-	-	-	-	-	10,435	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Proceeds from Issuance of Warrants
-	-	-	-	-	65,688	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Purchases Of Convertible Note Hedge
-	-	-	-	-	92,897	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Proceeds from issuance of common stock
3,177	3,928	3,916	4,502	9,508	11,582	11,502	13,020	7,934	5,681	5,307	3,221	2,532	2,052	2,055	1,853	1,844	1,867	1,373	1,329	712	571	538	535	507	2,437	50,452	50,480	102,622	100,735	0	0	0	-	-	-	-
Cash settlement of debt to equity conversion
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	1	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-
Repayment of secured notes payable
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	24,344	27,100	29,348	9,170	6,775	0	0	0	-	-	-	-
Financing costs and underwriters discounts
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	3,627	6,783	6,770	5,500	6,044	3,158	3,177	988	975	0	0	0
Net cash provided by financing activities
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	1,844	-	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	29,054	0	0	0
Net cash used in financing activities from discontinued operations
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-1,967	0	0	0
Net cash provided by financing activities
3,177	3,928	3,916	4,502	9,508	376,438	376,358	377,876	372,790	5,681	0	0	0	-	-	-	-	-	-	-	-	-	28,810	-1,222	63,765	62,739	106,569	104,362	87,952	87,916	60,427	61,335	13,425	27,087	0	0	0
Net change in cash and cash equivalents
102,989	-10,867	-6,929	52,139	-321,362	91,944	41,894	-26,532	384,541	33,906	27,619	25,581	39,769	32,900	28,664	3,699	-5,328	-2,898	-12,139	20,501	12,906	3,416	14,835	-21,951	-6,657	-7,322	-467	-13,335	3,043	-8,242	6,928	30,681	-4,976	24,804	0	0	0
Supplemental cash flow information
Cash paid for interest on convertible notes
2,516	2,516	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	4,313	1,656	2,425	2,860	2,938	2,679	2,185	1,935	1,412	0	0	0
Income taxes paid
51,064	51,540	40,775	30,288	29,949	34,772	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Operating cash flows from operating leases
-	-	-	-	-	-	-	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Noncash investing and financing activities
Conversion of convertible notes and interest make-whole
-	-	-	-	-	-	-	-	-	4,548	6,570	5,008	3,047	4,162	3,208	4,171	8,051	27,089	26,019	29,267	25,645	14,887	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-
Cash paid for interest-Discontinued operations
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	0
Deferred legal fees and fixed assets included in accounts payable and accrued expenses
2,290	1,832	465	50	196	250	-536	-883	-5,759	521	-1,461	1,469	7,927	5,122	10,843	10,458	10,392	9,789	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Property and equipment additions from utilization of tenant improvement allowance
0	-	-	-	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-