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10-Q Filing

SUPERNUS PHARMACEUTICALS, INC. CIK: 1356576 Q1 2023
Filing Information
Form Type 10-Q
Accession Number 0001356576-23-000034
Period End Date 20230331
Filing Date 20230509
Fiscal Year 2023
Fiscal Period Q1
XBRL Instance supn-20230331_htm.xml
Balance Sheet 72 line items
Line Item Tag Value Unit Period
Common stock, par value (in dollars per share) CommonStockParOrStatedValuePerShare $0.00 USD Point-in-time
Common stock, par value (in dollars per share) CommonStockParOrStatedValuePerShare $0.00 USD Point-in-time
Common stock shares authorized (in shares) CommonStockSharesAuthorized 130.00M shares Point-in-time
Cash and cash equivalents CashAndCashEquivalentsAtCarryingValue $93.12M USD Point-in-time
Common stock shares authorized (in shares) CommonStockSharesAuthorized 130.00M shares Point-in-time
Cash and cash equivalents CashAndCashEquivalentsAtCarryingValue $58.44M USD Point-in-time
Restricted cash RestrictedCash - USD Point-in-time
Common stock shares issued (in shares) CommonStockSharesIssued 54.47M shares Point-in-time
Common stock shares issued (in shares) CommonStockSharesIssued 54.47M shares Point-in-time
Restricted cash RestrictedCash $403.76M USD Point-in-time
Common stock shares outstanding (in shares) CommonStockSharesOutstanding 54.25M shares Point-in-time
Common stock shares outstanding (in shares) CommonStockSharesOutstanding 54.25M shares Point-in-time
Marketable securities DebtSecuritiesAvailableForSaleExcludingAccruedInterestCurrent $368.21M USD Point-in-time
Marketable securities DebtSecuritiesAvailableForSaleExcludingAccruedInterestCurrent $170.13M USD Point-in-time
Accounts receivable, net AccountsReceivableNetCurrent $143.57M USD Point-in-time
Accounts receivable, net AccountsReceivableNetCurrent $165.50M USD Point-in-time
Inventories, net InventoryNet $91.54M USD Point-in-time
Inventories, net InventoryNet $91.15M USD Point-in-time
Prepaid expenses and other current assets PrepaidExpenseAndOtherAssetsCurrent $16.30M USD Point-in-time
Prepaid expenses and other current assets PrepaidExpenseAndOtherAssetsCurrent $15.78M USD Point-in-time
Total current assets AssetsCurrent $883.34M USD Point-in-time
Total current assets AssetsCurrent $734.15M USD Point-in-time
Long-term marketable securities DebtSecuritiesAvailableForSaleExcludingAccruedInterestNoncurrent $93.90M USD Point-in-time
Long-term marketable securities DebtSecuritiesAvailableForSaleExcludingAccruedInterestNoncurrent $54.16M USD Point-in-time
Property and equipment, net PropertyPlantAndEquipmentNet $14.61M USD Point-in-time
Property and equipment, net PropertyPlantAndEquipmentNet $15.17M USD Point-in-time
Intangible assets, net IntangibleAssetsNetExcludingGoodwill $682.50M USD Point-in-time
Intangible assets, net IntangibleAssetsNetExcludingGoodwill $702.46M USD Point-in-time
Goodwill Goodwill $117.02M USD Point-in-time
Goodwill Goodwill $117.02M USD Point-in-time
Other assets OtherAssetsNoncurrent $39.81M USD Point-in-time
Other assets OtherAssetsNoncurrent $40.18M USD Point-in-time
Total assets Assets $1.79B USD Point-in-time
Total assets Assets $1.70B USD Point-in-time
Accounts payable and accrued liabilities AccountsPayableAndAccruedLiabilitiesCurrent $96.34M USD Point-in-time
Accounts payable and accrued liabilities AccountsPayableAndAccruedLiabilitiesCurrent $95.34M USD Point-in-time
Accrued product returns and rebates AccruedProductReturnsAndRebates $147.85M USD Point-in-time
Accrued product returns and rebates AccruedProductReturnsAndRebates $151.66M USD Point-in-time
Convertible notes, net ConvertibleNotesPayableCurrent $401.97M USD Point-in-time
Convertible notes, net ConvertibleNotesPayableCurrent $402.50M USD Point-in-time
Line of credit LinesOfCreditCurrent $78.36M USD Point-in-time
Line of credit LinesOfCreditCurrent - USD Point-in-time
Contingent consideration, current portion BusinessCombinationContingentConsiderationLiabilityCurrent - USD Point-in-time
Contingent consideration, current portion BusinessCombinationContingentConsiderationLiabilityCurrent $21.12M USD Point-in-time
Other current liabilities OtherLiabilitiesCurrent $7.49M USD Point-in-time
Other current liabilities OtherLiabilitiesCurrent $16.86M USD Point-in-time
Total current liabilities LiabilitiesCurrent $687.96M USD Point-in-time
Total current liabilities LiabilitiesCurrent $731.54M USD Point-in-time
Contingent consideration, long-term BusinessCombinationContingentConsiderationLiabilityNoncurrent $33.85M USD Point-in-time
Contingent consideration, long-term BusinessCombinationContingentConsiderationLiabilityNoncurrent $53.32M USD Point-in-time
Operating lease liabilities, long-term OperatingLeaseLiabilityNoncurrent $36.00M USD Point-in-time
Operating lease liabilities, long-term OperatingLeaseLiabilityNoncurrent $36.51M USD Point-in-time
Deferred income tax liabilities, net DeferredIncomeTaxLiabilitiesNet $49.67M USD Point-in-time
Deferred income tax liabilities, net DeferredIncomeTaxLiabilitiesNet $49.81M USD Point-in-time
Other liabilities OtherLiabilitiesNoncurrent $8.69M USD Point-in-time
Other liabilities OtherLiabilitiesNoncurrent $8.61M USD Point-in-time
Total liabilities Liabilities $816.30M USD Point-in-time
Total liabilities Liabilities $879.66M USD Point-in-time
Common stock, $0.001 par value; 130,000,000 shares authorized; 54,470,622 and 54,253,796 shares issued and outstanding as of March 31, 2023 and December 31, 2022, respectively CommonStockValue $54.00K USD Point-in-time
Common stock, $0.001 par value; 130,000,000 shares authorized; 54,470,622 and 54,253,796 shares issued and outstanding as of March 31, 2023 and December 31, 2022, respectively CommonStockValue $54.00K USD Point-in-time
Additional paid-in capital AdditionalPaidInCapital $408.12M USD Point-in-time
Additional paid-in capital AdditionalPaidInCapital $416.23M USD Point-in-time
Accumulated other comprehensive loss, net of tax AccumulatedOtherComprehensiveIncomeLossNetOfTax $-3.21M USD Point-in-time
Accumulated other comprehensive loss, net of tax AccumulatedOtherComprehensiveIncomeLossNetOfTax $-2.33M USD Point-in-time
Retained earnings RetainedEarningsAccumulatedDeficit $498.19M USD Point-in-time
Retained earnings RetainedEarningsAccumulatedDeficit $481.25M USD Point-in-time
Total stockholders equity StockholdersEquity $815.85M USD Point-in-time
Total stockholders equity StockholdersEquity $912.15M USD Point-in-time
Total stockholders equity StockholdersEquity $886.20M USD Point-in-time
Total stockholders equity StockholdersEquity $828.45M USD Point-in-time
Total liabilities and stockholders equity LiabilitiesAndStockholdersEquity $1.70B USD Point-in-time
Total liabilities and stockholders equity LiabilitiesAndStockholdersEquity $1.79B USD Point-in-time
Income Statement 36 line items
Line Item Tag Value Unit Period
Total revenues RevenueFromContractWithCustomerExcludingAssessedTax $152.51M USD 1 Quarter
Total revenues RevenueFromContractWithCustomerExcludingAssessedTax $153.76M USD 1 Quarter
Cost of goods sold CostOfGoodsAndServicesSold $23.46M USD 1 Quarter
Cost of goods sold CostOfGoodsAndServicesSold $17.93M USD 1 Quarter
Research and development ResearchAndDevelopmentExpense $21.21M USD 1 Quarter
Research and development ResearchAndDevelopmentExpense $20.84M USD 1 Quarter
Selling, general and administrative SellingGeneralAndAdministrativeExpense $90.46M USD 1 Quarter
Selling, general and administrative SellingGeneralAndAdministrativeExpense $85.60M USD 1 Quarter
Amortization of intangible assets AmortizationOfIntangibleAssets $20.64M USD 1 Quarter
Amortization of intangible assets AmortizationOfIntangibleAssets $19.97M USD 1 Quarter
Contingent consideration (gain) expense BusinessCombinationContingentConsiderationArrangementsChangeInAmountOfContingentConsiderationLiability1 $-1.65M USD 1 Quarter
Contingent consideration (gain) expense BusinessCombinationContingentConsiderationArrangementsChangeInAmountOfContingentConsiderationLiability1 $665.00K USD 1 Quarter
Total costs and expenses CostsAndExpenses $150.54M USD 1 Quarter
Total costs and expenses CostsAndExpenses $148.59M USD 1 Quarter
Operating earnings OperatingIncomeLoss $5.18M USD 1 Quarter
Operating earnings OperatingIncomeLoss $1.97M USD 1 Quarter
Interest expense InterestExpense $1.94M USD 1 Quarter
Interest expense InterestExpense $1.50M USD 1 Quarter
Interest and other income, net OtherNonoperatingIncomeExpense $14.70M USD 1 Quarter
Interest and other income, net OtherNonoperatingIncomeExpense $5.35M USD 1 Quarter
Total other income (expense) NonoperatingIncomeExpense $12.76M USD 1 Quarter
Total other income (expense) NonoperatingIncomeExpense $3.84M USD 1 Quarter
Earnings before income taxes IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest $9.02M USD 1 Quarter
Earnings before income taxes IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest $14.72M USD 1 Quarter
Income tax benefit IncomeTaxExpenseBenefit $-7.93M USD 1 Quarter
Income tax benefit IncomeTaxExpenseBenefit $-10.89M USD 1 Quarter
Net earnings NetIncomeLoss $16.95M USD 1 Quarter
Net earnings NetIncomeLoss $25.62M USD 1 Quarter
Basic (in dollars per share) EarningsPerShareBasic $0.48 USD 1 Quarter
Basic (in dollars per share) EarningsPerShareBasic $0.31 USD 1 Quarter
Diluted (in dollars per share) EarningsPerShareDiluted $0.43 USD 1 Quarter
Diluted (in dollars per share) EarningsPerShareDiluted $0.29 USD 1 Quarter
Basic (in shares) WeightedAverageNumberOfSharesOutstandingBasic 53.33M shares 1 Quarter
Basic (in shares) WeightedAverageNumberOfSharesOutstandingBasic 54.38M shares 1 Quarter
Diluted (in shares) WeightedAverageNumberOfDilutedSharesOutstanding 61.41M shares 1 Quarter
Diluted (in shares) WeightedAverageNumberOfDilutedSharesOutstanding 62.45M shares 1 Quarter
Cash Flow Statement 70 line items
Line Item Tag Value Unit Period
Net earnings NetIncomeLoss $25.62M USD 1 Quarter
Net earnings NetIncomeLoss $16.95M USD 1 Quarter
Depreciation and amortization DepreciationDepletionAndAmortization $20.60M USD 1 Quarter
Depreciation and amortization DepreciationDepletionAndAmortization $21.36M USD 1 Quarter
Other income from Navitor (see Note 4) EquityMethodInvestmentRealizedGainLossOnDisposal - USD 1 Quarter
Other income from Navitor (see Note 4) EquityMethodInvestmentRealizedGainLossOnDisposal $12.89M USD 1 Quarter
Amortization of deferred financing costs and debt discount AmortizationOfFinancingCostsAndDiscounts $526.00K USD 1 Quarter
Amortization of deferred financing costs and debt discount AmortizationOfFinancingCostsAndDiscounts $532.00K USD 1 Quarter
Amortization of premium/discount on marketable securities InvestmentIncomeNetAmortizationOfDiscountAndPremium $1.06M USD 1 Quarter
Amortization of premium/discount on marketable securities InvestmentIncomeNetAmortizationOfDiscountAndPremium $360.00K USD 1 Quarter
Change in fair value of contingent consideration BusinessCombinationContingentConsiderationArrangementsChangeInAmountOfContingentConsiderationLiability1 $-1.65M USD 1 Quarter
Change in fair value of contingent consideration BusinessCombinationContingentConsiderationArrangementsChangeInAmountOfContingentConsiderationLiability1 $665.00K USD 1 Quarter
Other noncash adjustments, net OtherNoncashIncomeExpense $-84.00K USD 1 Quarter
Other noncash adjustments, net OtherNoncashIncomeExpense $-2.46M USD 1 Quarter
Share-based compensation expense ShareBasedCompensation $4.03M USD 1 Quarter
Share-based compensation expense ShareBasedCompensation $6.31M USD 1 Quarter
Deferred income tax benefit DeferredIncomeTaxExpenseBenefit $-13.01M USD 1 Quarter
Deferred income tax benefit DeferredIncomeTaxExpenseBenefit $-435.00K USD 1 Quarter
Accounts receivable IncreaseDecreaseInAccountsReceivable $-3.81M USD 1 Quarter
Accounts receivable IncreaseDecreaseInAccountsReceivable $-21.97M USD 1 Quarter
Inventories IncreaseDecreaseInInventories $2.47M USD 1 Quarter
Inventories IncreaseDecreaseInInventories $1.85M USD 1 Quarter
Prepaid expenses and other assets IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets $341.00K USD 1 Quarter
Prepaid expenses and other assets IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets $-1.06M USD 1 Quarter
Accrued product returns and rebates IncreaseDecreaseInAccruedProductReturnsAndRebates $-3.81M USD 1 Quarter
Accrued product returns and rebates IncreaseDecreaseInAccruedProductReturnsAndRebates $7.46M USD 1 Quarter
Accounts payable and other liabilities IncreaseDecreaseInAccountsPayableAndAccruedLiabilities $-29.48M USD 1 Quarter
Accounts payable and other liabilities IncreaseDecreaseInAccountsPayableAndAccruedLiabilities $-10.55M USD 1 Quarter
Contingent consideration IncreaseDecreaseInContingentConsideration $-2.10M USD 1 Quarter
Contingent consideration IncreaseDecreaseInContingentConsideration - USD 1 Quarter
Net cash provided by operating activities NetCashProvidedByUsedInOperatingActivities $49.13M USD 1 Quarter
Net cash provided by operating activities NetCashProvidedByUsedInOperatingActivities $4.30M USD 1 Quarter
Purchases of marketable securities PaymentsToAcquireAvailableForSaleSecuritiesDebt $98.06M USD 1 Quarter
Purchases of marketable securities PaymentsToAcquireAvailableForSaleSecuritiesDebt - USD 1 Quarter
Sales and maturities of marketable securities ProceedsFromSaleAndMaturityOfAvailableForSaleSecurities $28.93M USD 1 Quarter
Sales and maturities of marketable securities ProceedsFromSaleAndMaturityOfAvailableForSaleSecurities $240.06M USD 1 Quarter
Purchases of property and equipment PaymentsToAcquirePropertyPlantAndEquipment $851.00K USD 1 Quarter
Purchases of property and equipment PaymentsToAcquirePropertyPlantAndEquipment $278.00K USD 1 Quarter
Net cash provided by (used in) investing activities NetCashProvidedByUsedInInvestingActivities $-69.99M USD 1 Quarter
Net cash provided by (used in) investing activities NetCashProvidedByUsedInInvestingActivities $239.78M USD 1 Quarter
Proceeds from Line of Credit ProceedsFromShortTermDebt $93.00M USD 1 Quarter
Proceeds from Line of Credit ProceedsFromShortTermDebt - USD 1 Quarter
Payments on Line of Credit RepaymentsOfShortTermDebt $14.64M USD 1 Quarter
Payments on Line of Credit RepaymentsOfShortTermDebt - USD 1 Quarter
Payment of contingent consideration PaymentForContingentConsiderationLiabilityFinancingActivities - USD 1 Quarter
Payment of contingent consideration PaymentForContingentConsiderationLiabilityFinancingActivities $22.90M USD 1 Quarter
Proceeds from issuance of common stock ProceedsFromIssuanceOfCommonStock $1.81M USD 1 Quarter
Proceeds from issuance of common stock ProceedsFromIssuanceOfCommonStock $866.00K USD 1 Quarter
Net cash provided by (used in) financing activities NetCashProvidedByUsedInFinancingActivities $-22.03M USD 1 Quarter
Net cash provided by (used in) financing activities NetCashProvidedByUsedInFinancingActivities $80.17M USD 1 Quarter
Net change in cash, cash equivalents, and restricted cash CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect $369.08M USD 1 Quarter
Net change in cash, cash equivalents, and restricted cash CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect $-87.72M USD 1 Quarter
Cash and cash equivalents at beginning of year CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $115.72M USD Point-in-time
Cash and cash equivalents at beginning of year CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $462.20M USD Point-in-time
Cash and cash equivalents at beginning of year CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $93.12M USD Point-in-time
Cash and cash equivalents at beginning of year CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $203.43M USD Point-in-time
Cash, cash equivalents, and restricted cash at end of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $93.12M USD Point-in-time
Cash, cash equivalents, and restricted cash at end of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $203.43M USD Point-in-time
Cash, cash equivalents, and restricted cash at end of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $462.20M USD Point-in-time
Cash, cash equivalents, and restricted cash at end of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $115.72M USD Point-in-time
Cash paid for interest on convertible notes InterestPaidNet - USD 1 Quarter
Cash paid for interest on convertible notes InterestPaidNet $1.26M USD 1 Quarter
Cash paid for income taxes IncomeTaxesPaidNet $478.00K USD 1 Quarter
Cash paid for income taxes IncomeTaxesPaidNet $203.00K USD 1 Quarter
Cash paid for operating leases OperatingLeasePayments $2.95M USD 1 Quarter
Cash paid for operating leases OperatingLeasePayments $3.46M USD 1 Quarter
Lease assets obtained for new operating leases RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability $2.60M USD 1 Quarter
Lease assets obtained for new operating leases RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability $27.00K USD 1 Quarter
Property and equipment additions from utilization of tenant improvement allowance CapitalExpendituresIncurredButNotYetPaid - USD 1 Quarter
Property and equipment additions from utilization of tenant improvement allowance CapitalExpendituresIncurredButNotYetPaid $549.00K USD 1 Quarter
Stockholders Equity 20 line items
Line Item Tag Value Unit Period
Balance (in shares) CommonStockSharesOutstanding 54.25M shares Point-in-time
Balance (in shares) CommonStockSharesOutstanding 54.25M shares Point-in-time
Balance StockholdersEquity $815.85M USD Point-in-time
Balance StockholdersEquity $912.15M USD Point-in-time
Balance StockholdersEquity $886.20M USD Point-in-time
Balance StockholdersEquity $828.45M USD Point-in-time
Share-based compensation AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue $4.03M USD 1 Quarter
Share-based compensation AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue $6.31M USD 1 Quarter
Issuance of common stock in connection with the Companys equity award plans StockIssuedDuringPeriodValueNewIssues $866.00K USD 1 Quarter
Issuance of common stock in connection with the Companys equity award plans StockIssuedDuringPeriodValueNewIssues $1.81M USD 1 Quarter
Net earnings NetIncomeLoss $25.62M USD 1 Quarter
Net earnings NetIncomeLoss $16.95M USD 1 Quarter
Unrealized gain on marketable securities, net of tax OtherComprehensiveIncomeAvailableforsaleSecuritiesAdjustmentNetOfTaxPortionAttributableToParent $-2.31M USD 1 Quarter
Unrealized gain on marketable securities, net of tax OtherComprehensiveIncomeAvailableforsaleSecuritiesAdjustmentNetOfTaxPortionAttributableToParent $881.00K USD 1 Quarter
Balance (in shares) CommonStockSharesOutstanding 54.25M shares Point-in-time
Balance (in shares) CommonStockSharesOutstanding 54.25M shares Point-in-time
Balance StockholdersEquity $886.20M USD Point-in-time
Balance StockholdersEquity $815.85M USD Point-in-time
Balance StockholdersEquity $912.15M USD Point-in-time
Balance StockholdersEquity $828.45M USD Point-in-time
Comprehensive Income 8 line items
Line Item Tag Value Unit Period
Net earnings NetIncomeLoss $25.62M USD 1 Quarter
Net earnings NetIncomeLoss $16.95M USD 1 Quarter
Unrealized gain (loss) on marketable securities, net of tax OtherComprehensiveIncomeAvailableforsaleSecuritiesAdjustmentNetOfTaxPortionAttributableToParent $-2.31M USD 1 Quarter
Unrealized gain (loss) on marketable securities, net of tax OtherComprehensiveIncomeAvailableforsaleSecuritiesAdjustmentNetOfTaxPortionAttributableToParent $881.00K USD 1 Quarter
Other comprehensive gain (loss) OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent $-2.31M USD 1 Quarter
Other comprehensive gain (loss) OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent $881.00K USD 1 Quarter
Comprehensive earnings ComprehensiveIncomeNetOfTax $23.30M USD 1 Quarter
Comprehensive earnings ComprehensiveIncomeNetOfTax $17.83M USD 1 Quarter

Data is extracted from SEC EDGAR XBRL filings. Values shown are as reported in the filing.

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