OPKO HEALTH, INC.
For the period ended Dec 31, 2025. Filed Feb 26, 2026.
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FY2025 · Filed Feb 26, 2026
OPK$1.710.0%Stored close · as of Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
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Item 8. Consolidated Statements of Cash Flows
CONSOLIDATED STATEMENTS OF CASH FLOWS
(In thousands)
| For the years ended December 31, | |||
|---|---|---|---|
| 2025 | 2024 | 2023 | |
| Cash flows from operating activities: | |||
| Net loss | $(225,680) | $(53,224) | $(188,863) |
| Adjustments to reconcile net loss to net cash provided by (used in) operating activities: | |||
| Depreciation and amortization | 91,627 | 98,176 | 105,297 |
| Non-cash interest | 66,257 | 17,547 | 2,750 |
| Amortization of deferred financing costs | 5,234 | 1,974 | 1,222 |
| Losses from investments in investees | 29 | 18 | 107 |
| Equity-based compensation – employees and non-employees | 10,714 | 11,048 | 11,413 |
| Impairment of Intangible Assets | 1,007 | — | — |
| Realized loss (gain) on disposal of fixed assets and sales of equity securities | (3,245) | (63,397) | 1,321 |
| Change in fair value of equity securities and derivative instruments | 623 | (114,429) | 17,647 |
| Loss on conversion convertible senior notes | — | (6,628) | — |
| Inducement expense and loss on debt conversion | 32,647 | — | — |
| Change in fair value of contingent consideration | — | — | (1,036) |
| Deferred income tax provision | (14,999) | 14,744 | 146 |
| Gain on sale of assets | (101,576) | (121,493) | — |
| Changes in assets and liabilities, net of the effects of acquisitions: | |||
| Accounts receivable, net | 30,213 | (220) | 3,411 |
| Inventory, net | (4,118) | 4,217 | 15,197 |
| Other current assets and prepaid expenses | (5,420) | (3,979) | 7,164 |
| Other assets | 23 | 237 | (288) |
| Accounts payable | (14,217) | (20,662) | 2,828 |
| Foreign currency measurement | 178 | 3,899 | (1,036) |
| Accrued expenses and other liabilities | (47,839) | 48,683 | (5,477) |
| Net cash used in operating activities | (178,542) | (183,489) | (28,197) |
| Cash flows from investing activities: | |||
| Investments in investees | (7,665) | — | (5,000) |
| Proceeds from sale of investments | 52,182 | 166,604 | 364 |
| Proceeds from the sale of property, plant and equipment | 287 | 242 | 2,713 |
| Capital expenditures | (12,278) | (25,010) | (16,275) |
| Proceeds from Labcorp Sale | 197,770 | 210,378 | — |
| Net cash provided by (used in) investing activities | 230,296 | 352,214 | (18,198) |
| Cash flows from financing activities: | |||
| Issuance of 3.00% convertible senior notes, net (including related parties) | — | 230,000 | — |
| Issuance of 2044 Notes | — | 250,000 | — |
| Debt issuance costs | — | (13,385) | — |
| Share repurchase | (47,040) | (90,223) | — |
| Net activity from the exercise of common stock options and warrants | (256) | (208) | (272) |
| Repurchase of 2029 Convertible Notes | (62,208) | (30,102) | — |
| Borrowings on lines of credit | 33,033 | 459,432 | 671,678 |
| Repayments of lines of credit | (41,411) | (475,061) | (679,709) |
| Settlement of convertible notes | (174) | (146,287) | (3,000) |
| Net cash (used in) provided by financing activities | (118,056) | 184,166 | (11,303) |
| Effect of exchange rate changes on cash, cash equivalents and restricted cash | 3,429 | (3,157) | 388 |
| Net (decrease) increase in cash, cash equivalents and restricted cash | (62,873) | 349,734 | (57,310) |
| Cash, cash equivalents and restricted cash at beginning of period | 445,615 | 95,881 | 153,191 |
| Cash, cash equivalents and restricted cash at end of period | $382,742 | $445,615 | $95,881 |
| SUPPLEMENTAL INFORMATION: | |||
| Interest paid | $37,936 | $20,883 | $8,135 |
| Income taxes paid, net of refunds | $24,463 | $10,008 | $3,712 |
| Operating lease right-of-use assets obtained in exchange for lease obligations | $— | $— | $29,363 |
| Assets acquired by finance leases | $— | $— | $203 |
| Non-cash financing: | |||
| Shares issued upon the conversion of: | |||
| Common Stock options and warrants, surrendered in net exercise | $346 | $529 | $301 |
| Fair value of shares included in consideration from GeneDx Holdings | $— | $— | $6,689 |
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.