Sarepta Therapeutics Inc
For the period ended Dec 31, 2024. Filed Feb 28, 2025.
View on SEC.govAbout this filing
A company's yearly report to the SEC, with audited financial statements. It is the fullest account a company gives of its business, its finances and the risks it sees.
FY2024 · Filed Feb 28, 2025
SRPT$16.42-4.8%Stored close · as of Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
See the whole filing, with its images and exhibitsContents
Item 8. Consolidated Statements of Cash Flows
Consolidated Statem ents of Cash Flows
(in thousands)
| For the Year Ended December 31, | |||
|---|---|---|---|
| 2024 | 2023 | 2022 | |
| Cash flows from operating activities: | |||
| Net income (loss) | $235,239 | $(535,977) | $(703,488) |
| Depreciation and amortization | 37,724 | 44,397 | 41,864 |
| Reduction in the carrying amounts of the right of use assets | 16,167 | 14,495 | 12,735 |
| Non-cash interest expense | 4,951 | 5,156 | 7,552 |
| Stock-based compensation | 184,300 | 182,514 | 233,018 |
| Accretion of investment discount, net | (40,277) | (46,176) | (10,651) |
| Non-cash termination charges | 62,747 | — | — |
| Non-cash change in the fair value of derivatives | 7,838 | 1,200 | (6,700) |
| Impairment of strategic investments | — | 30,321 | 2,575 |
| Loss on debt extinguishment | — | 387,329 | 125,441 |
| Gain from sale of Priority Review Voucher | — | (102,000) | — |
| Other | 2,130 | (1,163) | 11,778 |
| Changes in operating assets and liabilities, net: | |||
| Increase in accounts receivable | (201,661) | (185,699) | (61,638) |
| (Increase) decrease in manufacturing-related deposits and prepaids | (188,588) | (12,521) | 42,557 |
| Increase in inventory | (395,170) | (147,714) | (50,780) |
| (Increase) decrease in other assets | (9,676) | 1,808 | (27,937) |
| Decrease in deferred revenue | (32,160) | (86,828) | (89,244) |
| Increase (decrease) in accounts payable, accrued expenses, lease liabilities and other liabilities | 110,649 | (50,135) | 147,572 |
| Net cash used in operating activities | (205,787) | (500,993) | (325,346) |
| Cash flows from investing activities: | |||
| Purchase of property and equipment | (136,956) | (76,106) | (30,824) |
| Purchase of available-for-sale securities | (1,099,595) | (2,044,940) | (1,936,856) |
| Maturity and sales of available-for-sale securities | 2,002,112 | 1,868,482 | 923,224 |
| Purchase of intangible assets | (10,000) | (11,239) | (1,427) |
| Acquisition of strategic investments | — | (4,000) | (1,000) |
| Proceeds from sale of Priority Review Voucher | — | 102,000 | — |
| Net cash provided by (used in) investing activities | 755,561 | (165,803) | (1,046,883) |
| Cash flows from financing activities: | |||
| Settlement of capped call share options for 2024 Notes | 45,349 | 80,645 | 26,317 |
| Proceeds from exercise of stock options and purchase of stock under the Employee Stock Purchase Program | 79,525 | 51,246 | 30,043 |
| Payment on maturity of 2024 Notes | (68) | — | — |
| Debt conversion costs for 2024 Notes | — | (6,887) | — |
| Proceeds from 2027 Notes offering, net of commissions | — | — | 1,127,400 |
| Purchase of capped call share options for 2027 Notes | — | — | (127,305) |
| Debt issuance costs for 2027 Notes | — | — | (716) |
| Repurchase of 2024 Notes | — | — | (247,868) |
| Repayment of principal amount due under 2019 Term Loan | — | — | (550,000) |
| Payment on debt extinguishment of 2019 Term Loan | — | — | (25,364) |
| Net cash provided by financing activities | 124,806 | 125,004 | 232,507 |
| Increase (decrease) in cash and cash equivalents | 674,580 | (541,792) | (1,139,722) |
| Cash, cash equivalents and restricted cash: | |||
| Beginning of year | 444,009 | 985,801 | 2,125,523 |
| End of year | $1,118,589 | $444,009 | $985,801 |
| Reconciliation of cash, cash equivalents and restricted cash: | |||
| Cash and cash equivalents | $1,103,010 | $428,430 | $966,777 |
| Restricted cash in other assets | 15,579 | 15,579 | 19,024 |
| Total cash, cash equivalents and restricted cash | $1,118,589 | $444,009 | $985,801 |
| Supplemental disclosure of cash flow information: | |||
| Cash paid during the period for interest | $15,856 | $15,923 | $44,418 |
| Cash paid during the period for income taxes | $22,587 | $15,081 | $1,695 |
| Supplemental schedule of non-cash activities: | |||
| Common stock issued for conversion or exchange of 2024 Notes | $105,757 | $693,377 | $— |
| Intangible assets and property and equipment included in accounts payable and accrued expenses | $42,740 | $33,339 | $6,765 |
| Lease liabilities arising from obtaining right of use assets | $35,361 | $80,203 | $40,006 |
| Capitalized stock-based compensation and depreciation as inventory | $28,549 | $— | $— |
| Lease liabilities terminated | $2,381 | $— | $3,807 |
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.