BIOMARIN PHARMACEUTICAL INC
For the period ended Dec 31, 2025. Filed Feb 26, 2026.
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FY2025 · Filed Feb 26, 2026
BMRN$57.13-0.1%Stored close · as of Nov 10, 2026
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Item 8. Consolidated Statements of Cash Flows
CONSOLIDATED STATEMENTS OF CASH FLOWS
(In thousands of U.S. dollars)
| 2025 | 2024 | 2023 | |
|---|---|---|---|
| CASH FLOWS FROM OPERATING ACTIVITIES: | |||
| Net income | $348,901 | $426,859 | $167,645 |
| Adjustments to reconcile net income to net cash provided by operating activities: | |||
| Depreciation and amortization | 79,557 | 96,426 | 104,386 |
| Non-cash interest expense | 2,622 | 3,359 | 4,188 |
| Accretion of discount on investments | (4,801) | (8,345) | (9,228) |
| Stock-based compensation | 181,409 | 201,571 | 207,099 |
| Gain on sale of nonfinancial assets | — | (10,000) | — |
| Impairment of assets | 125,012 | 19,889 | 38,608 |
| ROCTAVIAN inventory write-off | 119,208 | — | — |
| Deferred income taxes | 48,738 | 56,096 | (44,981) |
| Unrealized foreign exchange gain | 4,459 | (16,753) | 28,446 |
| Acquired in-process research & development expense | 220,963 | — | — |
| Other | (4,414) | 20,135 | (365) |
| Changes in operating assets and liabilities: | |||
| Accounts receivable, net | (228,054) | (57,909) | (190,435) |
| Inventory | (116,929) | (63,530) | (157,058) |
| Other current assets | 8,891 | (3,778) | (50,335) |
| Other assets | (38,573) | (73,700) | (31,149) |
| Accounts payable and accrued liabilities | 66,136 | (32,240) | 68,853 |
| Other long-term liabilities | 14,869 | 14,761 | 23,585 |
| Net cash provided by operating activities | 827,994 | 572,841 | 159,259 |
| CASH FLOWS FROM INVESTING ACTIVITIES: | |||
| Purchases of property, plant and equipment | (103,038) | (85,424) | (96,691) |
| Maturities and sales of investments | 337,801 | 633,018 | 864,863 |
| Purchases of investments | (355,875) | (410,250) | (868,496) |
| Proceeds from sale of nonfinancial assets | — | 10,000 | — |
| Purchase of intangible assets | (7,937) | (11,994) | (10,920) |
| Acquisition, net of cash acquired | (285,193) | — | — |
| Other | — | 1,141 | — |
| Net cash provided by (used in) investing activities | (414,242) | 136,491 | (111,244) |
| CASH FLOWS FROM FINANCING ACTIVITIES: | |||
| Proceeds from exercises of awards under equity incentive plans | 14,460 | 49,277 | 69,353 |
| Taxes paid related to net share settlement of equity awards | (55,965) | (77,560) | (76,319) |
| Repayments of convertible debt | — | (494,987) | — |
| Other | (889) | (3,177) | (11,761) |
| Net cash used in financing activities | (42,394) | (526,447) | (18,727) |
| Effect of exchange rate changes on cash | (2,521) | 4,830 | 1,308 |
| NET INCREASE IN CASH AND CASH EQUIVALENTS | 368,837 | 187,715 | 30,596 |
| Cash and cash equivalents: | |||
| Beginning of period | $942,842 | $755,127 | $724,531 |
| End of period | $1,311,679 | $942,842 | $755,127 |
| SUPPLEMENTAL CASH FLOW DISCLOSURES: | |||
| Cash paid for interest | $7,245 | $10,361 | $10,303 |
| Cash paid for income taxes | $96,205 | $57,269 | $73,312 |
| SUPPLEMENTAL CASH FLOW DISCLOSURES FOR NON-CASH INVESTING AND FINANCING ACTIVITIES: | |||
| Accounts payable and accrued liabilities related to fixed assets | $3,780 | $3,751 | $10,280 |
| Accounts payable and accrued liabilities related to intangible assets | $1,247 | $6,327 | $8,000 |
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