CORCEPT THERAPEUTICS INC
For the period ended Dec 31, 2024. Filed Feb 26, 2025.
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FY2024 · Filed Feb 26, 2025
CORT$73.35-2.2%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)
| Year Ended December 31, | |||
|---|---|---|---|
| 2024 | 2023 | 2022 | |
| Cash flows from operating activities: | |||
| Net income | $141,209 | $106,140 | $101,418 |
| Adjustments to reconcile net income to net cash provided by operating activities: | |||
| Stock-based compensation | 61,354 | 48,940 | 42,442 |
| (Accretion) of discount and Amortization of premium on marketable securities, net | (10,938) | (9,128) | 1,383 |
| Depreciation and amortization | 795 | 1,042 | 1,259 |
| Deferred income taxes | (40,191) | (29,493) | (33,905) |
| Amortization of right-of-use asset | 541 | 1,320 | 2,187 |
| Changes in operating assets and liabilities: | |||
| Trade receivables | (12,853) | (10,066) | (3,432) |
| Insurance recovery receivable related to Melucci litigation | 14,000 | — | (14,000) |
| Inventory | 305 | 1,265 | 1,199 |
| Prepaid expenses and other current assets | 5,422 | (11,603) | (6,557) |
| Other assets | (69) | (1,483) | (1,975) |
| Accounts payable | (2,248) | 5,778 | 4,757 |
| Accrued research and development expenses | 12,538 | 6,757 | 2,131 |
| Accrued and other liabilities | 38,242 | 17,649 | 2,927 |
| Accrued settlement related to Melucci litigation | (14,000) | — | 14,000 |
| Long-term accrued income taxes | 3,777 | 1,210 | 8,688 |
| Operating lease liability | 183 | (1,289) | (2,199) |
| Net cash provided by operating activities | 198,067 | 127,039 | 120,323 |
| Cash flows from investing activities: | |||
| Purchases of property and equipment | (2,172) | (139) | (413) |
| Proceeds from maturities of marketable securities | 412,878 | 419,793 | 241,152 |
| Purchases of marketable securities | (588,310) | (328,748) | (355,066) |
| Net cash (used in) provided by investing activities | (177,604) | 90,906 | (114,327) |
| Cash flows from financing activities: | |||
| Proceeds from stock option exercises, net of issuance costs | 4,157 | 1,977 | 3,391 |
| Proceeds from purchases under the Employee Stock Purchase Program | 5,459 | 3,834 | 990 |
| Repurchases of common stock in connection with Stock Repurchase Program | (15,664) | — | — |
| Repurchase of common stock in connection with Tender Offer | — | (145,428) | — |
| Cash paid to satisfy statutory withholding requirement for net settlement of cashless option exercises and vesting of restricted stock grants | (22,301) | (9,106) | (21,665) |
| Net cash used in financing activities | (28,349) | (148,723) | (17,284) |
| Net (decrease) increase in cash and cash equivalents | (7,886) | 69,222 | (11,288) |
| Cash and cash equivalents, at beginning of period | 135,551 | 66,329 | 77,617 |
| Cash and cash equivalents, at end of period | $127,665 | $135,551 | $66,329 |
| Supplemental disclosure: | |||
| Income taxes paid | $60,267 | $47,602 | $39,747 |
| Exercise cost of shares repurchased for net settlement of cashless option exercises | $21,195 | $25,032 | $24,388 |
The accompanying notes are an integral part of these consolidated financial statements
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