Income Statement Supernus Pharmaceuticals, Inc.

Equities

SUPN

US8684591089

Pharmaceuticals

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09-04	Transcript : Supernus Pharmaceuticals, Inc. Presents at Wells Fargo 2024 Healthcare Conference, Sep-04-2024 04:30 PM
08-19	Sector Update: Health Care Stocks Edge Higher Premarket Monday	MT

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Published financial data: SUPERNUS PHARMACEUTICALS, INC.

Annual

Quarterly

Halfyear

YTD

LTM

Fiscal Period: December	2019	2020	2021	2022	2023
Revenues	393M	520M	580M	667M	608M
Total Revenues	393M	520M	580M	667M	608M
Cost of Goods Sold, Total	16.66M	52.46M	75.06M	87.22M	83.78M
Gross Profit	376M	468M	505M	580M	524M
Selling General & Admin Expenses, Total	158M	188M	277M	377M	336M
R&D Expenses	69.1M	75.96M	90.47M	74.55M	91.59M
Amortization of Goodwill and Intangible Assets - (IS)	-	15.7M	29.99M	82.63M	82.38M
Other Operating Expenses, Total	228M	280M	398M	534M	510M
Operating Income	149M	188M	107M	45.61M	13.4M
Interest Expense, Total	-22.71M	-23.75M	-23.42M	-7.07M	-2.42M
Interest And Investment Income	21.62M	11.65M	10.22M	21.68M	10.45M
Net Interest Expenses	-1.08M	-12.11M	-13.2M	14.6M	8.04M
Other Non Operating Income (Expenses)	-	2.7M	-	-	-
EBT, Excl. Unusual Items	147M	179M	93.7M	60.22M	21.44M
Merger & Related Restructuring Charges	-	-12.5M	-27.4M	-	-
Gain (Loss) On Sale Of Investments	-	4.35M	347K	14K	-
Asset Writedown	-	-	-	-	-20.19M
Other Unusual Items	-	-1.9M	6.53M	510K	1.52M
EBT, Incl. Unusual Items	147M	169M	73.18M	60.74M	2.77M
Income Tax Expense	34.43M	41.7M	19.75M	32K	1.45M
Earnings From Continuing Operations	113M	127M	53.42M	60.71M	1.32M
Net Income to Company	113M	127M	53.42M	60.71M	1.32M
Net Income - (IS)	113M	127M	53.42M	60.71M	1.32M
Net Income to Common Incl Extra Items	113M	127M	53.42M	60.71M	1.32M
Net Income to Common Excl. Extra Items	113M	127M	53.42M	60.71M	1.32M
Per Share Items
Net EPS - Basic	2.16	2.41	1.01	1.13	0.02
Basic EPS - Continuing Operations	2.16	2.41	1.01	1.13	0.02
Basic Weighted Average Shares Outstanding	52.41M	52.62M	53.1M	53.67M	54.54M
Net EPS - Diluted	2.1	2.36	0.98	1.04	0.02
Diluted EPS - Continuing Operations	2.1	2.36	0.98	1.04	0.02
Diluted Weighted Average Shares Outstanding	53.82M	53.69M	54.36M	61.68M	55.51M
Normalized Basic EPS	1.76	2.12	1.1	0.7	0.25
Normalized Diluted EPS	1.71	2.08	1.08	0.61	0.24
Supplemental Items
EBITDA	155M	206M	139M	131M	98.26M
EBITA	154M	204M	137M	128M	95.79M
EBIT	149M	188M	107M	45.61M	13.4M
EBITDAR	162M	214M	151M	144M	113M
Total Revenues (As Reported)	393M	520M	580M	667M	608M
Effective Tax Rate - (Ratio)	23.35	24.72	26.99	0.05	52.47
Current Domestic Taxes	40.26M	41.13M	24.8M	26.36M	27.17M
Total Current Taxes	40.26M	41.13M	24.8M	26.36M	27.17M
Deferred Domestic Taxes	-5.83M	571K	-5.05M	-26.33M	-25.71M
Total Deferred Taxes	-5.83M	571K	-5.05M	-26.33M	-25.71M
Normalized Net Income	92.18M	112M	58.56M	37.64M	13.4M
Interest on Long-Term Debt	18.21M	16.93M	17.5M	2.1M	532K
Supplemental Operating Expense Items
Advertising Expense	-	-	-	-	-
Marketing Expenses	40.8M	54.5M	86M	132M	99.7M
Selling and Marketing Expenses	40.8M	54.5M	86M	132M	99.7M
Research And Development Expense From Footnotes	69.1M	75.96M	90.47M	74.55M	91.59M
Net Rental Expense, Total	6.88M	7.48M	11.99M	12.85M	14.26M
Imputed Operating Lease Interest Expense	3.31M	3.39M	5.17M	1.63M	1.12M
Imputed Operating Lease Depreciation	3.57M	4.09M	6.82M	11.22M	13.14M
Stock-Based Comp., R&D Exp. (Total)	2.6M	2.43M	2.4M	2.92M	4.74M
Stock-Based Comp., SG&A Exp. (Total)	12.25M	14.13M	15.51M	14.65M	22.02M
Total Stock-Based Compensation	14.85M	16.56M	17.91M	17.57M	26.76M

Fiscal Period: December	2019	2020	2021	2022	2023
Assets
Cash And Equivalents	181M	289M	203M	93.12M	75.05M
Short Term Investments	166M	134M	136M	368M	180M
Total Cash And Short Term Investments	347M	423M	340M	461M	255M
Accounts Receivable, Total	87.33M	141M	149M	165M	144M
Total Receivables	87.33M	141M	149M	165M	144M
Inventory	26.63M	48.32M	85.96M	91.54M	77.41M
Prepaid Expenses	11.61M	18.68M	27.02M	15.78M	16.68M
Total Current Assets	473M	630M	602M	734M	493M
Gross Property Plant And Equipment	51.05M	75.1M	68.77M	57.13M	57.93M
Accumulated Depreciation	-12.7M	-17.04M	-16.45M	-13.05M	-15.4M
Net Property Plant And Equipment	38.35M	58.06M	52.32M	44.08M	42.52M
Long-term Investments	592M	365M	119M	93.9M	16.62M
Goodwill	-	77.91M	118M	117M	117M
Other Intangibles, Total	24.84M	364M	785M	702M	600M
Deferred Tax Assets Long-Term	32.06M	-	-	-	-
Deferred Charges Long-Term	-	-	-	-	-
Other Long-Term Assets, Total	615K	8.02M	13.87M	10.9M	8.51M
Total Assets	1.16B	1.5B	1.69B	1.7B	1.28B
Liabilities
Accounts Payable, Total	10.14M	6.15M	9.33M	10.54M	1.96M
Accrued Expenses, Total	123M	166M	199M	186M	166M
Current Portion of Long-Term Debt	3.24M	5.32M	-	408M	-
Current Portion of Leases	2.82M	7.52M	6.48M	6.79M	8.33M
Current Income Taxes Payable	2.44M	-	-	-	-
Unearned Revenue Current, Total	-	-	-	-	-
Other Current Liabilities	18.82M	60.5M	100M	77M	114M
Total Current Liabilities	161M	245M	315M	688M	290M
Long-Term Debt	364M	375M	385M	-	-
Long-Term Leases	30.44M	48.81M	41.3M	36M	33.2M
Unearned Revenue Non Current	-	-	-	-	-
Deferred Tax Liability Non Current	-	35.22M	85.36M	49.81M	24.96M
Other Non Current Liabilities	9.41M	54.95M	46.04M	42.54M	7.8M
Total Liabilities	565M	759M	873M	816M	356M
Common Stock, Total	53K	53K	53K	54K	55K
Additional Paid In Capital	388M	409M	434M	408M	439M
Retained Earnings	200M	326M	380M	481M	483M
Comprehensive Income and Other	7.42M	8.98M	1.54M	-3.21M	-593K
Total Common Equity	595M	745M	816M	886M	922M
Total Equity	595M	745M	816M	886M	922M
Total Liabilities And Equity	1.16B	1.5B	1.69B	1.7B	1.28B
Supplemental Items
ECS Total Shares Outstanding on Filing Date	52.53M	52.92M	53.39M	54.38M	54.73M
ECS Total Common Shares Outstanding	52.53M	52.87M	53.26M	54.25M	54.72M
Book Value / Share	11.33	14.09	15.32	16.33	16.84
Tangible Book Value	571M	303M	-86.36M	66.72M	205M
Tangible Book Value Per Share	10.86	5.72	-1.62	1.23	3.74
Total Debt	401M	437M	433M	451M	41.53M
Net Debt	-538M	-336M	-25.84M	-104M	-230M
Debt Equivalent of Unfunded Proj. Benefit Obligation	-	-	-	-	-
Debt Equivalent Oper. Leases	55.02M	59.82M	95.9M	103M	114M
Account Code - Inventory Valuation	5	5	5	5	5
Inventories - Raw Materials, Total	4.58M	22.21M	7.32M	24.82M	16.27M
Inventories - Work In Process, Total	11.43M	8.98M	45.71M	31.71M	31.21M
Inventories - Finished Goods, Total	10.62M	17.13M	32.92M	35.01M	29.92M
Machinery, Total	12.89M	14.64M	14.23M	13.11M	14.03M
Full Time Employees	464	563	575	612	652
Accumulated Allowance for Doubtful Accounts (Supple)	-	11.4M	13.5M	13M	10.7M

Fiscal Period: December	2019	2020	2021	2022	2023
Net Income	113M	127M	53.42M	60.71M	1.32M
Depreciation & Amortization - CF	1.46M	2.44M	2.61M	2.91M	2.47M
Amortization of Goodwill and Intangible Assets - (CF)	5.2M	15.7M	29.99M	82.63M	82.38M
Depreciation & Amortization, Total	6.66M	18.14M	32.6M	85.54M	84.86M
Amortization of Deferred Charges, Total - (CF)	15.71M	16.58M	17.5M	2.11M	532K
(Gain) Loss on Sale of Investments - (CF)	-4.34M	-7.24M	71K	3.22M	-122K
Asset Writedown & Restructuring Costs	-	-	15M	-	20.19M
(Income) Loss On Equity Investments - (CF)	-	-	-	-12.89M	-
Stock-Based Compensation (CF)	14.85M	16.56M	17.91M	17.57M	26.76M
Other Operating Activities, Total	-3.42M	3.92M	-12.94M	-15.2M	-13.31M
Change In Accounts Receivable	15.75M	-34.61M	3.87M	-16.37M	18.76M
Change In Inventories	-969K	-10.12M	-14.58M	-17.86M	6.11M
Change In Accounts Payable	6.96M	8.27M	18.18M	-19.16M	-36.29M
Change in Unearned Revenues	-	-	-	-	-
Change In Income Taxes	-9.93M	-	-	-	-
Change in Other Net Operating Assets	-11.2M	-56K	-3.9M	29.14M	2.28M
Cash from Operations	143M	138M	127M	117M	111M
Capital Expenditure	-2.74M	-3.45M	-2.04M	-412K	-551K
Cash Acquisitions	-	-299M	-312M	-	-
Investment in Marketable and Equity Securities, Total	-157M	268M	232M	-216M	269M
Other Investing Activities, Total	1.35M	-241K	-	-	-
Cash from Investing	-158M	-34.7M	-81.91M	-217M	269M
Short Term Debt Issued, Total	-	-	-	-	93M
Long-Term Debt Issued, Total	-	-	800K	-	-
Total Debt Issued	-	-	800K	-	93M
Short Term Debt Repaid, Total	-	-	-	-	-93M
Long-Term Debt Repaid, Total	-	-802K	-138M	-	-402M
Total Debt Repaid	-	-802K	-138M	-	-496M
Issuance of Common Stock	3.93M	4.36M	7.1M	12.42M	6.61M
Repurchase of Common Stock	-	-	-	-	-1.99M
Other Financing Activities, Total	-	-	-	-22.9M	-
Cash from Financing	3.93M	3.56M	-130M	-10.48M	-398M
Net Change in Cash	-10.87M	107M	-85.21M	-110M	-18.07M
Supplemental Items
Cash Interest Paid	2.52M	2.52M	2.52M	2.52M	1.95M
Cash Income Tax Paid (Refund)	51.54M	45.43M	25.19M	16.2M	36.6M
Levered Free Cash Flow	120M	146M	141M	89.55M	162M
Unlevered Free Cash Flow	119M	144M	138M	91.85M	163M
Change In Net Working Capital	-7.25M	4.56M	-22.61M	39.36M	-43.24M
Net Debt Issued / Repaid	-	-802K	-138M	-	-402M

Fiscal Period: December	2019	2020	2021	2022	2023
Profitability
Return on Assets	8.69	8.82	4.18	1.68	0.56
Return on Total Capital	10.3	10.8	5.5	2.2	0.73
Return On Equity %	21.57	18.94	6.85	7.13	0.15
Return on Common Equity	21.57	18.94	6.85	7.13	0.15
Margin Analysis
Gross Profit Margin %	95.76	89.92	87.05	86.93	86.21
SG&A Margin	40.34	36.16	47.84	56.53	55.37
EBITDA Margin %	39.52	39.63	24.06	19.66	16.17
EBITA Margin %	39.15	39.16	23.61	19.22	15.77
EBIT Margin %	37.83	36.14	18.44	6.84	2.21
Income From Continuing Operations Margin %	28.79	24.39	9.21	9.1	0.22
Net Income Margin %	28.79	24.39	9.21	9.1	0.22
Net Avail. For Common Margin %	28.79	24.39	9.21	9.1	0.22
Normalized Net Income Margin	23.47	21.46	10.1	5.64	2.21
Levered Free Cash Flow Margin	30.65	28.05	24.28	13.42	26.62
Unlevered Free Cash Flow Margin	30.27	27.72	23.78	13.77	26.78
Asset Turnover
Asset Turnover	0.37	0.39	0.36	0.39	0.41
Fixed Assets Turnover	18.51	10.8	10.51	13.84	14.03
Receivables Turnover (Average Receivables)	4.13	4.56	4	4.24	3.92
Inventory Turnover (Average Inventory)	0.64	1.4	1.12	0.98	0.99
Short Term Liquidity
Current Ratio	2.94	2.57	1.91	1.07	1.7
Quick Ratio	2.71	2.3	1.55	0.91	1.38
Operating Cash Flow to Current Liabilities	0.89	0.56	0.4	0.17	0.38
Days Sales Outstanding (Average Receivables)	88.4	80.25	91.23	86	93.02
Days Outstanding Inventory (Average Inventory)	572.77	261.47	326.49	371.4	368.03
Average Days Payable Outstanding	138.06	40.19	25.07	39.08	32.77
Cash Conversion Cycle (Average Days)	523.12	301.52	392.65	418.32	428.28
Long Term Solvency
Total Debt/Equity	67.33	58.64	53.07	50.86	4.51
Total Debt / Total Capital	40.24	36.97	34.67	33.71	4.31
LT Debt/Equity	66.31	56.92	52.28	4.06	3.6
Long-Term Debt / Total Capital	39.63	35.88	34.15	2.69	3.45
Total Liabilities / Total Assets	48.68	50.48	51.7	47.95	27.88
EBIT / Interest Expense