THERAVANCE BIOPHARMA, INC. TBPH Cash Flow

Theravance biopharma, inc. (TBPH)

CashFlow / Quarterly

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
Operating activities
Net loss
-83,053	-65,606	-58,431	-39,838	-72,580	-50,186	-59,433	-40,818	-65,087	-86,922	-66,877	-66,287	-65,319	-67,333	-33,961	-47,225	-42,150	-44,826	-47,315	-47,604	-42,474	-64,310	-54,495	-58,215	-60,018	-44,080	-41,078	-38,952	-32,174
Adjustments to reconcile net loss to net cash used in operating activities:
Depreciation and amortization
2,424	1,765	1,809	1,551	1,316	1,286	1,069	1,119	1,007	792	950	976	1,083	1,175	791	454	699	697	720	747	825	781	1,075	686	732	694	557	699	703
Amortization and accretion income, net
536	852	903	1,067	629	428	451	329	107	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Amortization of premium on marketable securities
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	-	-	-	-
Share-based compensation
15,276	23,912	13,019	11,299	12,220	11,714	11,746	13,855	13,998	17,793	10,685	10,398	10,269	10,040	9,895	9,904	11,330	11,511	12,250	14,663	15,626	14,420	9,350	6,763	12,701	5,159	5,594	6,207	5,516
Amortization of right-of-use assets
457	-	1,013	1,030	986	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Inventory write-down
-	-	-	-	-	-	-	-	-	-	-	-	-	184	0	109	10	2,017	0	0	79	-	-	0	0	-	-	-	-
Excess tax benefits from share-based compensation
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-281	-34	-151	391	-111	393	0	0	-	-	-	-
Amounts due from TRC, LLC
-2,295	11,913	-3,356	8,366	6,229	2,349	1,170	1,140	493	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Loss on extinguishment of debt
-15,464	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Other
-9	2	-95	-37	-16	-25	47	-376	397	-13	265	-209	-53	-182	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-
Changes in operating assets and liabilities:
Accounts receivable
-	-86	-145	118	-507	-2,404	-410	1,461	-280	677	230	113	587	-227	-983	329	-395	1,139	-22	240	276	-238	437	87	-196	-252	451	0	0
Receivables from collaborative and licensing arrangements
-6,582	17,401	3,616	-6,845	-2,229	6,146	42	1,020	-4,264	-4,438	6,229	-2,321	-1,437	-13,637	-12,367	-2,456	2,304	15,592	-5,847	5,827	17,820	1,659	179	-88	-844	-1,038	76	-67	1,022
Receivable from Innoviva, Inc
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	-	-	-	-	-	-	-	-	-	-	-	-
Prepaid taxes
-	-	-	-	-	-	-	-	-	-	-	-	-	74	18	2,908	-12,522	9,646	94	3,014	10	-	-	-	-	-	-	-	-
Other prepaid and current assets
-1,592	-47	-1,726	272	2,135	1,907	-2,470	1,385	1,578	3,026	-3,606	832	1,237	-1,914	770	-6,616	5,050	-1,466	-783	622	664	-378	2,213	-768	1,811	-345	361	-1,290	1,255
Inventories
-	-	-	-	-	1,077	201	-20	371	4,338	2,466	637	-140	1,344	1,995	-23	-134	-912	241	-400	41	206	2,063	3,742	617	259	309	52	2,481
Tax receivable
-	-	-	-	-	-3,099	0	0	-5,092	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Other assets
99	-	-	-	-	-	-	-	-	5	221	394	-266	-3,889	4,416	-456	-255	157	-96	331	180	211	0	0	0	-	-	-	-
Accounts payable
1,154	-3,731	4,948	-2,051	-3,440	5,240	646	-1,862	-449	256	-1,258	2,794	2,004	-3,598	-2,081	-1,307	-9,450	12,206	281	1,661	-5,431	4,409	-2,904	3,506	-1,094	215	1,087	961	-150
Accrued personnel-related expenses, accrued clinical and development expenses, and other accrued liabilities
-10,549	20,472	5,734	-12,877	-2,703	1,967	4,725	-13,973	-5,076	12,856	-7,429	6,119	-3,214	9,002	2,458	14	5,718	8,888	3,281	-7,024	-6,184	6,784	159	174	4,563	1,067	1,684	5,113	-3,694
Accrued interest payable
664	-1,909	1,810	7,253	-4,581	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Deferred rent
-	-	-	-	-	-938	-368	-898	-2,104	-380	162	224	292	193	210	80	149	148	149	149	106	-80	-81	-98	-117	-116	40	174	202
Deferred revenue
-6,632	-9,584	-8,835	-7,493	-5,333	-10,042	-8,990	-7,115	95,371	-3	5	-2	17	-34	-423	-236	1,141	73	-163	173	212	-883	-4,768	-1,928	-412	265	438	496	6,268
Operating lease liabilities
-293	-	-	-	-910	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Other long-term liabilities
144	540	-5,557	196	73	-4,911	-3	-6,411	1,267	11,109	7,481	505	5,354	4,234	4,948	-82	590	1,081	-640	402	321	866	0	0	0	-	-	-	-
Net cash used in operating activities
-55,101	-64,352	-44,622	-48,030	-81,193	-52,178	-48,977	-61,537	49,825	-44,202	-62,299	-44,525	-50,026	-28,113	-12,432	-32,135	-26,309	-33,746	-31,983	-46,614	-56,514	-42,539	-36,377	-51,440	-44,799	-35,188	-32,935	-24,345	-28,491
Investing activities
Purchases of property and equipment
954	1,303	77	576	1,220	1,500	1,875	1,094	2,771	255	826	738	587	400	413	638	684	606	674	710	657	765	461	261	1,620	1,066	237	691	740
Purchases of marketable securities
64,778	57,486	158,384	59,890	148,138	16,849	64,500	47,073	54,839	2,970	53,830	72,774	159,217	69,008	77,177	91,382	0	61,952	0	400	10,659	23,024	135,888	9,981	0	-	-	-	-
Maturities of marketable securities
119,203	72,850	134,800	54,170	77,198	97,742	113,022	90,129	46,299	44,475	69,419	84,688	36,282	23,203	27,750	23,445	17,069	28,055	62,763	42,409	53,470	33,288	26,493	5,783	0	-	-	-	-
Proceeds from the sale of marketable securities
14,932	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Proceeds from the sale of fixed assets
-	-	-	-	-	0	0	0	17	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Payments received on notes receivable, net of issuance
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	0	100
Net cash provided by (used in) investing activities
68,403	14,061	-23,656	-1,296	-72,160	99,393	46,647	41,962	-11,294	41,250	14,763	11,176	-123,522	-46,205	-49,840	-68,575	16,385	-34,503	62,089	41,299	42,154	9,684	-109,856	-4,459	-1,620	-1,066	-237	-691	-640
Financing activities
Proceeds from sale of ordinary shares to Mylan, net of premium
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	0	-	-	-	-
Proceeds from the sale of ordinary shares, net
139,915	-	-	-	-	-	-	-	-	-	-	-	-	107,787	17	117,422	27,802	51,755	-48	1,557	25,753	-	-	-	-	-	-	-	-
Proceeds from issuance of 2035 notes, net
380,000	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Payment of issuance costs on 2035 notes
5,065	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Payment of redemption premium on 2033 notes
11,470	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Principal payment on 2033 notes
235,347	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Proceeds from option exercises
203	169	428	2,291	254	87	1,225	46	35	543	373	2,504	2,816	1,942	1,090	1,346	0	-	-	-	-	-	-	-	-	-	-	-	-
Excess tax benefits from share-based compensation
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-281	-34	-151	391	-111	393	0	0	-	-	-	-
Transfers from Innoviva, Inc.
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	46,557	46,419	36,254	33,172	25,036	29,131
Repurchase of shares to satisfy tax withholding
6,804	430	562	494	1,687	1,355	1,547	5,190	1,715	1,235	1,162	2,131	4,032	1,021	626	442	1,782	756	0	-100	100	-	-	-	0	-	-	-	-
Net cash provided by (used in) financing activities
261,432	-1,544	-134	4,402	-1,433	229,604	-322	-2,402	-1,680	631	-789	3,030	-1,216	332,455	481	120,270	26,020	53,842	-82	1,506	26,044	-158	262	324,098	46,419	36,254	33,172	25,036	29,131
Net increase (decrease) in cash, cash equivalents, and restricted cash
274,734	-51,835	-68,412	-44,924	-154,786	276,819	-2,652	-21,977	36,851	-2,321	-48,325	-30,319	-174,764	258,137	-61,791	19,560	16,096	-14,407	30,024	-3,809	11,684	-33,013	-145,971	268,199	0	0	0	0	0
Supplemental disclosure of cash flow information
Cash paid for interest
7,891	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-
Cash paid (received) for income taxes, net
-9	-	-	-	-	-2,289	-572	-8,928	4,473	-	-	-	-	0	0	-18,982	9,494	2,997	3,119	6,508	765	-	-	-	-	-	-	-	-
Right-of-use assets obtained in exchange for lease obligations (1)
-	0	0	0	49,847	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-