Income Statement Durect

Stocks

DRRX

US2666055007

Market Closed - Nasdaq 16:00:00 2025-09-10 EDT			5-day change	1st Jan Change
1.910 ^USD	-1.04%		-.--%	-

25-09-11	Bausch Health Companies Inc. completed the acquisition of DURECT Corporation.	CI
25-09-11	Bausch Health Completes US$63 Million Durect Acquisition, Adds Breakthrough Hepatitis Therapy to Pipeline	MT

7981066ff3cd5c1571b37.lK4fJUndQpY3KbNj-ZYFRFfWxpKdty_GfyhVSeKYI0g.8JZoaznoc_tGGNUhvNlofGGlj-rW32yODlthC9bAWhij_ytqDpMH42Fv3A

Published financial data: DURECT

Annual

Quarterly

Halfyear

YTD

LTM

Fiscal Period: December	2020 (USD)	2021 (USD)	2022 (USD)	2023 (USD)	2024 (USD)
Revenues	30.11M	13.98M	19.28M	8.55M	2.03M
Total Revenues	30.11M	13.98M	19.28M	8.55M	2.03M
Cost of Goods Sold, Total	29.12M	33.8M	38.45M	31.07M	825K
Gross Profit	996K	-19.82M	-19.17M	-22.52M	1.21M
Selling General & Admin Expenses, Total	13.61M	14.45M	15.92M	14.36M	10.48M
R&D Expenses	-	-	-	-	9.64M
Other Operating Expenses, Total	13.61M	14.45M	15.92M	14.36M	20.12M
Operating Income	-12.62M	-34.27M	-35.08M	-36.88M	-18.91M
Interest Expense, Total	-2.24M	-2.15M	-2.4M	-2.79M	-
Interest And Investment Income	517K	156K	898K	2.13M	821K
Net Interest Expenses	-1.72M	-1.99M	-1.5M	-663K	821K
Other Non Operating Income (Expenses)	-	-	-	9.92M	-323K
EBT, Excl. Unusual Items	-14.34M	-36.26M	-36.58M	-27.62M	-18.41M
Gain (Loss) On Sale Of Assets	-	-	-	-	-
Other Unusual Items	-	-	1.25M	-	-
EBT, Incl. Unusual Items	-14.34M	-36.26M	-35.33M	-27.62M	-18.41M
Income Tax Expense	-	-	-	-	-
Earnings From Continuing Operations	-14.34M	-36.26M	-35.33M	-27.62M	-18.41M
Earnings Of Discontinued Operations	13.75M	-	-	-	10.09M
Net Income to Company	-582K	-36.26M	-35.33M	-27.62M	-8.32M
Net Income - (IS)	-582K	-36.26M	-35.33M	-27.62M	-8.32M
Net Income to Common Incl Extra Items	-582K	-36.26M	-35.33M	-27.62M	-8.32M
Net Income to Common Excl. Extra Items	-14.34M	-36.26M	-35.33M	-27.62M	-18.41M
Per Share Items
Net EPS - Basic	-0.03	-1.61	-1.55	-1.05	-0.27
Basic EPS - Continuing Operations	-0.72	-1.61	-1.55	-1.05	-0.6
Basic Weighted Average Shares Outstanding	19.95M	22.5M	22.78M	26.26M	30.94M
Net EPS - Diluted	-0.03	-1.61	-1.55	-1.2	-0.27
Diluted EPS - Continuing Operations	-0.72	-1.61	-1.55	-1.2	-0.6
Diluted Weighted Average Shares Outstanding	19.95M	22.5M	22.78M	26.52M	30.94M
Normalized Basic EPS	-0.45	-1.01	-1	-0.66	-0.37
Normalized Diluted EPS	-0.45	-1.01	-1	-0.65	-0.37
Supplemental Items
EBITDA	-12.32M	-33.98M	-34.96M	-36.85M	-18.83M
EBITA	-12.62M	-34.27M	-35.08M	-36.88M	-18.91M
EBIT	-12.62M	-34.27M	-35.08M	-36.88M	-18.91M
EBITDAR	-10.42M	-32.08M	-33.06M	-34.85M	-17.33M
Total Revenues (As Reported)	30.11M	13.98M	19.28M	8.55M	2.03M
Effective Tax Rate - (Ratio)	-	-	-	-	-
Current Domestic Taxes	-	-	-	-	-
Total Current Taxes	-	-	-	-	-
Total Deferred Taxes	-	-	-	-	-
Normalized Net Income	-8.96M	-22.67M	-22.86M	-17.26M	-11.51M
Interest on Long-Term Debt	2.24M	2.15M	2.4M	2.79M	-
Supplemental Operating Expense Items
Research And Development Expense From Footnotes	27.71M	31.85M	36.86M	29.35M	10.38M
Net Rental Expense, Total	1.9M	1.9M	1.9M	2M	1.5M
Imputed Operating Lease Interest Expense	1.3M	1.3M	1.53M	2.03M	-
Imputed Operating Lease Depreciation	597K	597K	367K	-30.18K	-
Stock-Based Comp., COGS (Total)	994K	1.26M	1.24M	1.18M	747K
Stock-Based Comp., SG&A Exp. (Total)	1.1M	1.42M	1.22M	1.36M	1.17M
Stock-Based Comp., Other (Total)	76K	-	-	-	75K
Total Stock-Based Compensation	2.17M	2.69M	2.46M	2.54M	2M

Fiscal Period: December	2020 (USD)	2021 (USD)	2022 (USD)	2023 (USD)	2024 (USD)
Assets
Cash And Equivalents	21.31M	49.84M	43.48M	28.4M	11.01M
Short Term Investments	19.42M	19.97M	-	1.28M	792K
Total Cash And Short Term Investments	40.73M	69.81M	43.48M	29.68M	11.8M
Accounts Receivable, Total	940K	6.48M	3.42M	1.26M	453K
Total Receivables	940K	6.48M	3.42M	1.26M	453K
Inventory	1.86M	1.87M	2.11M	2.22M	106K
Prepaid Expenses	4.54M	3.58M	2.38M	1.51M	813K
Restricted Cash	14.98M	-	-	-	-
Total Current Assets	63.06M	81.74M	51.39M	34.67M	13.18M
Gross Property Plant And Equipment	24.11M	22.62M	21.22M	18.96M	16.16M
Accumulated Depreciation	-19.11M	-18.94M	-19.09M	-14.89M	-13.99M
Net Property Plant And Equipment	5M	3.67M	2.13M	4.07M	2.18M
Long-term Investments	1M	-	-	-	-
Goodwill	6.17M	6.17M	6.17M	6.17M	2.72M
Other Long-Term Assets, Total	411K	411K	406K	278K	273K
Total Assets	75.64M	91.99M	60.1M	45.19M	18.35M
Liabilities
Accounts Payable, Total	1.68M	1.31M	3.11M	1.78M	309K
Accrued Expenses, Total	6.35M	6.8M	7.9M	5.97M	4.77M
Current Portion of Long-Term Debt	884K	-	21.17M	16.66M	-
Current Portion of Leases	1.8M	1.85M	1.83M	1.38M	1.08M
Unearned Revenue Current, Total	-	98K	-	-	-
Other Current Liabilities	-	-	-	1.22M	1.55M
Total Current Liabilities	10.7M	10.06M	34M	27.01M	7.71M
Long-Term Debt	19.94M	20.63M	-	-	-
Long-Term Leases	3.2M	1.82M	260K	2.7M	1.12M
Unearned Revenue Non Current	812K	812K	-	-	-
Other Non Current Liabilities	873K	884K	851K	693K	384K
Total Liabilities	35.53M	34.21M	35.12M	30.41M	9.22M
Common Stock, Total	20K	23K	23K	23K	23K
Additional Paid In Capital	530M	584M	586M	604M	606M
Retained Earnings	-490M	-526M	-561M	-589M	-597M
Comprehensive Income and Other	-5K	-10K	-13K	-14K	-1K
Total Common Equity	40.12M	57.78M	24.98M	14.78M	9.13M
Total Equity	40.12M	57.78M	24.98M	14.78M	9.13M
Total Liabilities And Equity	75.64M	91.99M	60.1M	45.19M	18.35M
Supplemental Items
ECS Total Shares Outstanding on Filing Date	22.72M	22.77M	24.48M	31.04M	31.04M
ECS Total Common Shares Outstanding	20.35M	22.77M	22.78M	30.33M	31.04M
Book Value / Share	1.97	2.54	1.1	0.49	0.29
Tangible Book Value	33.95M	51.61M	18.82M	8.61M	6.41M
Tangible Book Value Per Share	1.67	2.27	0.83	0.28	0.21
Total Debt	25.82M	24.3M	23.26M	20.75M	2.21M
Net Debt	-14.92M	-45.51M	-20.22M	-8.93M	-9.6M
Debt Equivalent Oper. Leases	15.2M	15.2M	15.2M	16M	12M
Account Code - Inventory Valuation	5	5	5	5	5
Inventories - Raw Materials, Total	136K	143K	168K	165K	10K
Inventories - Work In Process, Total	796K	712K	1.15M	1.16M	-
Inventories - Finished Goods, Total	932K	1.02M	794K	890K	96K
Machinery, Total	10.89M	10.7M	10.79M	6.74M	5.97M
Full Time Employees	81	79	79	58	21
Accumulated Allowance for Doubtful Accounts (Supple)	72K	15K	21K	20K	-

Fiscal Period: December	2020 (USD)	2021 (USD)	2022 (USD)	2023 (USD)	2024 (USD)
Net Income	-582K	-36.26M	-35.33M	-27.62M	-8.32M
Depreciation & Amortization - CF	297K	288K	119K	31K	84K
Depreciation & Amortization, Total	297K	288K	119K	31K	84K
Amortization of Deferred Charges, Total - (CF)	453K	451K	479K	439K	-
(Gain) Loss From Sale Of Asset	-	-11K	-	112K	-11.54M
(Gain) Loss on Sale of Investments - (CF)	-313K	-76K	16K	-83K	-
Stock-Based Compensation (CF)	2.17M	2.69M	2.46M	2.54M	2M
Net Cash From Discontinued Operations	-12.84M	-	-	-	-
Other Operating Activities, Total	133K	-22K	-77K	-11.17M	622K
Change In Accounts Receivable	389K	-5.44M	3.05M	2.16M	371K
Change In Inventories	-249K	-4K	-245K	-107K	-214K
Change In Accounts Payable	-241K	-367K	1.8M	-1.33M	-1.38M
Change in Unearned Revenues	-22.68M	98K	-910K	-	-
Change in Other Net Operating Assets	-5.24M	1.35M	2.36M	616K	-701K
Cash from Operations	-38.7M	-37.31M	-26.28M	-34.41M	-19.09M
Capital Expenditure	-208K	-194K	-111K	-52K	-
Sale of Property, Plant, and Equipment	-	-	-	84K	-
Sale (Purchase) of Intangible assets	-	-	-	-	-
Investment in Marketable and Equity Securities, Total	9.64M	526K	19.95M	-1.2M	544K
Other Investing Activities, Total	-	14.98M	-	-	17.5M
Cash from Investing	9.43M	15.31M	19.84M	-1.17M	18.04M
Long-Term Debt Repaid, Total	-4K	-2K	-1K	-5M	-17M
Total Debt Repaid	-4K	-2K	-1K	-5M	-17M
Issuance of Common Stock	15.66M	51.25M	84K	1.6M	653K
Other Financing Activities, Total	-	-713K	-	23.9M	-
Cash from Financing	15.66M	50.53M	83K	20.5M	-16.35M
Net Change in Cash	-13.61M	28.53M	-6.36M	-15.08M	-17.39M
Supplemental Items
Cash Interest Paid	1.68M	1.62M	1.8M	2.33M	1.41M
Levered Free Cash Flow	-48.75M	-8.95M	-13.67M	-20.96M	-8.67M
Unlevered Free Cash Flow	-47.8M	-8.05M	-12.65M	-19.65M	-8.67M
Change In Net Working Capital	42.18M	-10.58M	-6.81M	-885K	-1.07M
Net Debt Issued / Repaid	-4K	-2K	-1K	-5M	-17M

Fiscal Period: December	2020 (USD)	2021 (USD)	2022 (USD)	2023 (USD)	2024 (USD)
Profitability
Return on Assets	-9.75	-25.56	-28.83	-43.79	-37.21
Return on Total Capital	-13.69	-28.94	-33.65	-55.03	-51.48
Return On Equity %	-45.53	-74.09	-85.38	-138.93	-154
Return on Common Equity	-45.53	-74.09	-85.38	-138.93	-154
Margin Analysis
Gross Profit Margin %	3.31	-141.83	-99.4	-263.45	59.38
SG&A Margin	45.2	103.38	82.53	168.04	516.1
EBITDA Margin %	-40.91	-243.15	-181.32	-431.13	-927.03
EBITA Margin %	-41.89	-245.21	-181.93	-431.49	-931.17
EBIT Margin %	-41.89	-245.21	-181.93	-431.49	-931.17
Income From Continuing Operations Margin %	-47.61	-259.46	-183.23	-323.16	-906.65
Net Income Margin %	-1.93	-259.46	-183.23	-323.16	-409.85
Net Avail. For Common Margin %	-47.61	-259.46	-183.23	-323.16	-906.65
Normalized Net Income Margin	-29.75	-162.16	-118.57	-201.98	-566.65
Levered Free Cash Flow Margin	-161.89	-64	-70.9	-245.16	-426.88
Unlevered Free Cash Flow Margin	-158.75	-57.62	-65.61	-229.88	-426.88
Asset Turnover
Asset Turnover	0.37	0.17	0.25	0.16	0.06
Fixed Assets Turnover	5.46	3.22	6.64	2.76	0.76
Receivables Turnover (Average Receivables)	24.52	3.77	3.9	3.65	3.79
Inventory Turnover (Average Inventory)	15.39	18.1	19.31	14.34	6.93
Short Term Liquidity
Current Ratio	5.89	8.13	1.51	1.28	1.71
Quick Ratio	3.89	7.59	1.38	1.15	1.59
Operating Cash Flow to Current Liabilities	-3.62	-3.71	-0.77	-1.27	-2.48
Days Sales Outstanding (Average Receivables)	14.93	96.84	93.7	100	96.5
Days Outstanding Inventory (Average Inventory)	23.78	20.16	18.9	25.45	52.79
Average Days Payable Outstanding	23.05	16.14	20.83	28.59	465.4
Cash Conversion Cycle (Average Days)	15.66	100.87	91.77	96.86	-316.11
Long Term Solvency
Total Debt/Equity	64.36	42.06	93.1	140.34	24.16
Total Debt / Total Capital	39.16	29.61	48.21	58.39	19.46
LT Debt/Equity	57.68	38.86	1.04	18.28	12.31
Long-Term Debt / Total Capital	35.09	27.36	0.54	7.6	9.91
Total Liabilities / Total Assets	46.97	37.19	58.43	67.29	50.24
EBIT / Interest Expense	-5.64	-15.96	-14.62	-13.21	-
EBITDA / Interest Expense	-4.66	-14.94	-13.78	-12.48	-
(EBITDA - Capex) / Interest Expense	-4.75	-15.03	-13.83	-12.5	-
Total Debt / EBITDA	-2.48	-0.76	-0.7	-0.6	-0.13
Net Debt / EBITDA	1.43	1.42	0.61	0.26	0.55
Total Debt / (EBITDA - Capex)	-2.43	-0.75	-0.7	-0.59	-0.13
Net Debt / (EBITDA - Capex)	1.4	1.41	0.61	0.26	0.55
Growth Over Prior Year
Total Revenues, 1 Yr. Growth %	20.09	-53.58	37.96	-55.67	-21.58
Gross Profit, 1 Yr. Growth %	-115.74	-2.09K	-3.31	17.49	4.06
EBITDA, 1 Yr. Growth %	-38.88	175.9	2.88	5.41	-52.52
EBITA, 1 Yr. Growth %	-38.29	171.68	2.36	5.14	-52.34
EBIT, 1 Yr. Growth %	-38.29	171.68	2.36	5.14	-52.34
Earnings From Cont. Operations, 1 Yr. Growth %	-32.92	152.98	-2.57	-21.82	-33.36
Net Income, 1 Yr. Growth %	-97.17	6.13K	-2.57	-21.82	-69.87
Normalized Net Income, 1 Yr. Growth %	-34.46	152.98	0.88	-24.49	-33.36
Diluted EPS Before Extra, 1 Yr. Growth %	-40.12	124.22	-3.73	-22.32	-50
Accounts Receivable, 1 Yr. Growth %	-37.99	589.04	-47.15	-63.16	-26.7
Inventory, 1 Yr. Growth %	-2.87	0.32	12.99	5.02	-19.7
Net Property, Plant and Equip., 1 Yr. Growth %	-17.01	-26.54	-41.98	91.04	-31.29
Total Assets, 1 Yr. Growth %	-12.07	21.61	-34.67	-24.81	-59.4
Tangible Book Value, 1 Yr. Growth %	106.22	52.04	-63.54	-54.22	-25.63
Common Equity, 1 Yr. Growth %	75.48	44.04	-56.76	-40.83	-38.23
Cash From Operations, 1 Yr. Growth %	-448.65	-3.6	-29.57	30.95	-44.54
Capital Expenditures, 1 Yr. Growth %	34.19	-6.73	-42.78	-53.15	-
Levered Free Cash Flow, 1 Yr. Growth %	-406.45	-81.65	52.84	53.28	-59.08
Unlevered Free Cash Flow, 1 Yr. Growth %	-379.53	-83.15	57.09	55.32	-59.08
Compound Annual Growth Rate Over Two Years
Total Revenues, 2 Yr. CAGR %	40.4	-25.34	-19.98	-21.8	-67.55
Gross Profit, 2 Yr. CAGR %	-70.41	84.42	338.68	6.58	-74.92
EBITDA, 2 Yr. CAGR %	-27.42	31.5	68.47	4.13	-26.62
EBITA, 2 Yr. CAGR %	-26.95	31.09	66.76	3.74	-26.58
EBIT, 2 Yr. CAGR %	-26.95	31.09	66.76	3.74	-26.58
Earnings From Cont. Operations, 2 Yr. CAGR %	-24.79	30.27	57	-12.72	-27.81
Net Income, 2 Yr. CAGR %	-84.84	32.75	679.16	-12.72	-51.46
Normalized Net Income, 2 Yr. CAGR %	-24.79	30.27	59.75	-12.72	-29.05
Diluted EPS Before Extra, 2 Yr. CAGR %	-32.98	15.87	46.78	-13.53	-37.81
Accounts Receivable, 2 Yr. CAGR %	-26.86	106.7	90.83	-55.88	-63.62
Inventory, 2 Yr. CAGR %	-26.18	-1.28	6.47	8.93	-77.6
Net Property, Plant and Equip., 2 Yr. CAGR %	187.48	-21.92	-34.72	5.28	1.05
Total Assets, 2 Yr. CAGR %	23	3.41	-10.86	-29.91	-44.75
Tangible Book Value, 2 Yr. CAGR %	57.98	77.07	-25.55	-59.15	-41.65
Common Equity, 2 Yr. CAGR %	41.62	58.99	-21.08	-49.42	-39.55
Cash From Operations, 2 Yr. CAGR %	39.99	83.33	-17.6	-3.96	-14.78
Capital Expenditures, 2 Yr. CAGR %	49.55	11.88	-26.95	-48.23	-
Levered Free Cash Flow, 2 Yr. CAGR %	95.25	-25.74	-47.04	53.06	-20.37
Unlevered Free Cash Flow, 2 Yr. CAGR %	105.43	-31.99	-48.55	56.2	-17.22
Compound Annual Growth Rate Over Three Years
Total Revenues, 3 Yr. CAGR %	-6.36	-2.92	-8.38	-34.28	-47.43
Gross Profit, 3 Yr. CAGR %	-14.11	20.33	48.7	182.77	-60.67
EBITDA, 3 Yr. CAGR %	-4.85	13.27	21.17	44.09	-17.87
EBITA, 3 Yr. CAGR %	-5.05	13.18	20.71	42.99	-17.98
EBIT, 3 Yr. CAGR %	-5.05	13.18	20.71	42.99	-17.98
Earnings From Cont. Operations, 3 Yr. CAGR %	57.13	12.69	18.25	24.44	-20.22
Net Income, 3 Yr. CAGR %	-45.99	12.72	19.75	262.07	-38.77
Normalized Net Income, 3 Yr. CAGR %	-5.24	12.69	19.62	24.44	-20.22
Diluted EPS Before Extra, 3 Yr. CAGR %	33.81	0.24	8.92	18.73	-28.06
Accounts Receivable, 3 Yr. CAGR %	-26.59	54.48	31.19	10.29	-58.8
Inventory, 3 Yr. CAGR %	-16.16	-18.24	3.26	5.98	-61.59
Net Property, Plant and Equip., 3 Yr. CAGR %	75.25	82.43	-29.28	-6.62	-16.01
Total Assets, 3 Yr. CAGR %	12.51	22.53	-11.27	-15.78	-41.57
Tangible Book Value, 3 Yr. CAGR %	31.03	55.98	4.56	-36.69	-50.12
Common Equity, 3 Yr. CAGR %	23.13	42.43	3.01	-28.31	-45.94
Cash From Operations, 3 Yr. CAGR %	206.59	23.62	33.28	-3.84	-20.02
Capital Expenditures, 3 Yr. CAGR %	44.46	27.77	-10.53	-37	-
Levered Free Cash Flow, 3 Yr. CAGR %	77.49	-11.23	-5.54	-24.53	-1.04
Unlevered Free Cash Flow, 3 Yr. CAGR %	87.39	-10.75	-10.1	-25.64	2.49
Compound Annual Growth Rate Over Five Years
Total Revenues, 5 Yr. CAGR %	9.5	-0.07	-12.06	-10.96	-39.51
Gross Profit, 5 Yr. CAGR %	-35.75	-0.71	64.9	14.63	-27.03
EBITDA, 5 Yr. CAGR %	-9.45	1.24	19.58	9.52	-0.85
EBITA, 5 Yr. CAGR %	-9.4	1.15	18.94	9.3	-1.06
EBIT, 5 Yr. CAGR %	-9.4	1.15	18.94	9.3	-1.06
Earnings From Cont. Operations, 5 Yr. CAGR %	-8.75	1	57.08	1.74	-2.93
Net Income, 5 Yr. CAGR %	-51.92	1	57.08	1.76	-16.56
Normalized Net Income, 5 Yr. CAGR %	-8.71	1	16.78	1.74	-2.93
Diluted EPS Before Extra, 5 Yr. CAGR %	-17.77	-9.12	38.9	-5.51	-12.95
Accounts Receivable, 5 Yr. CAGR %	-15.81	41.2	7.58	-6.42	-21.46
Inventory, 5 Yr. CAGR %	-13.8	-13.14	-7.75	-8.29	-43.97
Net Property, Plant and Equip., 5 Yr. CAGR %	26.14	23.14	18.06	46.42	-18.43
Total Assets, 5 Yr. CAGR %	10.09	17.83	2.5	-2	-26.58
Tangible Book Value, 5 Yr. CAGR %	31.96	92.77	4.51	-8.73	-17.2
Common Equity, 5 Yr. CAGR %	21.93	47.28	3.06	-5.87	-16.77
Cash From Operations, 5 Yr. CAGR %	13.19	6.45	81.26	11.75	11.45
Capital Expenditures, 5 Yr. CAGR %	-1.56	5.71	9.98	-10.98	-
Levered Free Cash Flow, 5 Yr. CAGR %	29.55	-10.2	9.42	10.39	-11.77
Unlevered Free Cash Flow, 5 Yr. CAGR %	31.71	-10.46	11.73	11.65	-13.02