Harmony Biosciences Holdings Inc
For the period ended Dec 31, 2023. Filed Feb 22, 2024.
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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.
FY2023 · Filed Feb 22, 2024
HRMY$33.55-0.7%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
| | | | | | | | | | |
|---|---|---|---|---|---|---|---|---|---|
| | Year Ended December 31, | ||||||||
| · 2023 · 2022 · · 2021 | |||||||||
| CASH FLOWS FROM OPERATING ACTIVITIES · · · · | |||||||||
| Net income | | $128,853 | | $181,468 | | $34,597 | |||
| Adjustments to reconcile net income to net cash used in operating activities: | | | | | | | |||
| Depreciation | | 514 | | 419 | | | 416 | ||
| Intangible amortization | | 23,845 | | 22,966 | | | 18,424 | ||
| Acquired in-process research & development (IPR&D) expense | | | 2,260 | | | — | | | — |
| Stock-based and employee stock purchase compensation expense | | 31,705 | | 26,173 | | | 15,659 | ||
| Stock appreciation rights market adjustment | | (499) | | 732 | | | 446 | ||
| Debt issuance costs amortization | | 2,274 | | 1,663 | | | 2,238 | ||
| Deferred taxes | | | (13,419) | | | (85,943) | | | — |
| Amortization of premiums and accretion of discounts on Investment securities | | | (2,715) | | | (432) | | | — |
| Loss on debt extinguishment | | | 9,766 | | | — | | | 26,146 |
| Other non-cash expenses | | | 1,768 | | | 1,526 | | | — |
| Change in operating assets and liabilities: | | | | | | | |||
| Trade receivables | | (19,400) | | (19,897) | | | (12,667) | ||
| Inventory | | (1,066) | | 135 | | | (609) | ||
| Prepaid expenses and other assets | | 74 | | (7,548) | | | (1,655) | ||
| Trade payables | | 8,949 | | 2,785 | | | (1,555) | ||
| Accrued expenses and other current liabilities | | 46,479 | | 20,570 | | | 17,263 | ||
| Other non-current liabilities | | (1) | | (151) | | | (146) | ||
| Net cash provided by operating activities | | 219,387 | | 144,466 | | 98,557 | |||
| CASH FLOWS FROM INVESTING ACTIVITIES: | | | | | | ||||
| Purchase of investment securities | | | (127,469) | | | (110,729) | | | — |
| Proceeds from maturities and sales of investment securities | | | 118,309 | | | 9,069 | | | — |
| Purchase of property and equipment | | (312) | | (172) | | | (298) | ||
| Acquisition of Zynerba Pharmaceuticals, Inc., net of cash acquired | | (36,967) | | — | | | — | ||
| Milestone payments | | — | | (40,000) | | | (100,000) | ||
| Net cash used in investing activities | | (46,439) | | (141,832) | | (100,298) | |||
| CASH FLOWS FROM FINANCING ACTIVITIES: | | | | | | ||||
| Proceeds from issuance of common stock | | | — | | | — | | | 30,000 |
| Common stock issuance costs | | | — | | | — | | | (300) |
| Proceeds from issuance of debt | | 200,000 | | — | | | 200,000 | ||
| Debt issuance costs | | (2,997) | | — | | | (9,152) | ||
| Extinguishment of debt | | (196,500) | | — | | | (200,000) | ||
| Extinguishment of debt exit fees | | (5,846) | | — | | | (22,000) | ||
| Principal repayment of long term debt | | | (4,750) | | | (2,000) | | | (500) |
| Repurchase of common stock | | | (100,000) | | | — | | | — |
| Payments of employee withholding taxes related to stock-based awards | | | (514) | | | — | | | — |
| Proceeds from exercised options | | 5,055 | | 8,841 | | | 9,371 | ||
| Net cash (used in) provided by financing activities | | (105,552) | | 6,841 | | | 7,419 | ||
| NET INCREASE IN CASH, CASH EQUIVALENTS, AND RESTRICTED CASH | | 67,396 | | 9,475 | | | 5,678 | ||
| CASH, CASH EQUIVALENTS, AND RESTRICTED CASH—Beginning of period | | 244,534 | | 235,059 | | | 229,381 | ||
| CASH, CASH EQUIVALENTS, AND RESTRICTED CASH—End of period | | $311,930 | | $244,534 | | | 235,059 | ||
| Supplemental Disclosure of Cash Flow Information: | | | | | |||||
| Cash paid during the year for interest | | $20,051 | | $16,364 | | $19,830 | |||
| Cash paid during the year for taxes | | | 48,233 | | | 12,645 | | | 2,875 |
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