SUPERNUS PHARMACEUTICALS INC
For the period ended Dec 31, 2023. Filed Feb 27, 2024.
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FY2023 · Filed Feb 27, 2024
SUPN$28.75+4.1%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
(in thousands)
| Years Ended December 31, | |||
|---|---|---|---|
| 2023 | 2022 | 2021 | |
| Cash flows from operating activities | |||
| Net earnings | $1,316 | $60,711 | $53,424 |
| Adjustments to reconcile net earnings to net cash provided by operating activities: | |||
| Depreciation and amortization | 84,859 | 85,543 | 32,595 |
| Navitor investment R&D expense (see Note 4) | — | — | 15,000 |
| Other income from Navitor (see Note 4) | — | (12,888) | — |
| Intangible asset impairment charges | 20,189 | — | — |
| Amortization of deferred financing costs and debt discount | 532 | 2,112 | 17,501 |
| Share-based compensation expense | 26,759 | 17,568 | 17,910 |
| Realized gains from sales of marketable securities | — | (14) | (347) |
| Amortization of premium/discount on marketable securities | (122) | 3,233 | 418 |
| Changes in fair value of contingent consideration | (1,517) | (510) | (6,530) |
| Other noncash adjustments, net | 13,920 | 11,638 | (1,420) |
| Deferred income tax benefit | (25,714) | (26,324) | (4,994) |
| Changes in operating assets and liabilities: | |||
| Accounts receivable | 18,765 | (16,366) | 3,867 |
| Inventories | 6,110 | (17,858) | (14,580) |
| Prepaid expenses and other assets | (334) | 12,303 | (8,398) |
| Accrued product returns and rebates | 2,609 | 18,941 | 4,502 |
| Accounts payable and other liabilities | (36,287) | (19,163) | 18,179 |
| Contingent consideration | — | (2,100) | — |
| Net cash provided by operating activities | 111,085 | 116,826 | 127,127 |
| Cash flows from investing activities | |||
| Sales and maturities of marketable securities | 370,901 | 190,739 | 530,509 |
| Purchases of marketable securities | (101,621) | (406,990) | (311,573) |
| Acquisition of USWM, net of cash acquired | — | — | (950) |
| Acquisition of Adamas, net of cash acquired | — | — | (310,742) |
| Distribution from Navitor | — | — | 12,888 |
| Purchase of property and equipment and deferred legal fees paid | (551) | (412) | (2,045) |
| Net cash provided by (used in) investing activities | 268,729 | (216,663) | (81,913) |
| Cash flows from financing activities | |||
| Proceeds from issuance of common stock | 6,610 | 12,423 | 7,095 |
| Employee taxes paid related to net share settlement of equity awards | (1,990) | — | — |
| Proceeds from Line of Credit | 93,000 | — | — |
| Payments on Line of Credit | (93,000) | — | — |
| Payment on convertible notes | (402,500) | — | — |
| Proceeds from governmental loan and grant | — | — | 800 |
| Repayment of acquired Adamas loan | — | — | (138,315) |
| Payment of contingent consideration | — | (22,900) | — |
| Net cash used in financing activities | (397,880) | (10,477) | (130,420) |
| Net change in cash and cash equivalents | (18,066) | (110,314) | (85,206) |
| Cash and cash equivalents at beginning of year | 93,120 | 203,434 | 288,640 |
| Cash and cash equivalents at end of year | $75,054 | $93,120 | $203,434 |
| Supplemental cash flow information: | |||
| Cash paid for interest on debt | $1,946 | $2,516 | $2,516 |
| Cash paid for operating leases | $17,112 | $12,883 | $11,908 |
| Cash paid for income taxes | $36,602 | $16,200 | $25,190 |
| Noncash investing and financing activity: | |||
| Contingent consideration liability related to acquisitions | $— | $— | $10,307 |
| Property and equipment additions from utilization of tenant improvement allowance | $— | $580 | $25 |
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