EXEL FY 2019 Earnings Report — Exelixis, Inc. Revenue & Financial Results | Market Cap Arena

Exelixis, Inc.EXEL

FY 2019 Earnings

Reported February 25, 2020

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	FY 2019	Prior Q	FY 2018	QoQ Change	YoY Change
Revenue	$968M	—	$854M	—	13.3%
Op. Income	$369M	—	$439M	—	-15.8%
Gross Margin	96.6%	—	96.9%	—	-0.3pp
Net Margin	33.2%	—	80.8%	—	-47.7pp
EPS (Diluted)	$1.02	—	$2.21	—	-53.8%
Free Cash Flow	$514M	—	$382M	—	34.4%

Revenue Flow

Item	Amount
REVENUE	$968M
Cost of Revenue	$33M
GROSS PROFIT	$935M
R&D Expenses	$337M
Selling & Marketing	$18M
General & Administrative	$210M
SG&A Expenses	$228M
Other Expenses	$680.0K
Operating Expenses	$565M
Cost & Expenses	$598M
OPERATING INCOME	$369M
Interest Income	$28M
Interest Expense	$0
Other Income/Expenses	$29M
INCOME BEFORE TAX	$398M
Income Tax Expense	$77M
Net Income from Continuing Ops	$321M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$321M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$321M
D&A	$11M
EBIT	$398M
EBITDA	$369M
EPS	$1
EPS Diluted	$1

Income Statement

Item	Amount
REVENUE	$968M
Cost of Revenue	$33M
GROSS PROFIT	$935M
R&D Expenses	$337M
Selling & Marketing	$18M
General & Administrative	$210M
SG&A Expenses	$228M
Other Expenses	$680.0K
Operating Expenses	$565M
Cost & Expenses	$598M
OPERATING INCOME	$369M
Interest Income	$28M
Interest Expense	$0
Other Income/Expenses	$29M
INCOME BEFORE TAX	$398M
Income Tax Expense	$77M
Net Income from Continuing Ops	$321M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$321M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$321M
D&A	$11M
EBIT	$398M
EBITDA	$369M
EPS	$1
EPS Diluted	$1

Cash Flow Statement

Item	Amount
Net Income	$321M
Depreciation & Amortization	$8M
Stock-Based Compensation	$57M
Deferred Income Tax	$71M
Other Non-Cash Items	$3M
Change in Working Capital	$67M
OPERATING CASH FLOW	$527M
Capital Expenditure	-$13M
Acquisitions (Net)	$0
Purchases of Investments	-$1.2B
Sales/Maturities of Investments	$608M
Other Investing Activities	$0
NET CASH FROM INVESTING	-$587M
Net Debt Issuance	$0
Common Stock Repurchased	$0
Common Dividends Paid	$0
Other Financing Activities	$13M
NET CASH FROM FINANCING	$13M
FREE CASH FLOW	$514M
Net Change in Cash	-$48M

Balance Sheet

Item	Amount
Cash & Equivalents	$267M
Short-Term Investments	$586M
Net Receivables	$119M
Inventory	$13M
Other Current Assets	$0
TOTAL CURRENT ASSETS	$1.0B
PP&E (Net)	$91M
Goodwill	$64M
Intangible Assets	$0
Long-Term Investments	$536M
Tax Assets	$172M
Other Non-Current Assets	$11M
TOTAL NON-CURRENT ASSETS	$874M
TOTAL ASSETS	$1.9B
Account Payables	$12M
Short-Term Debt	$0
Deferred Revenue	$7M
Other Current Liabilities	$15M
TOTAL CURRENT LIABILITIES	$143M
Long-Term Debt	$0
Deferred Revenue NC	$7M
Deferred Tax Liabilities	$0
Other Non-Current Liabilities	$2M
TOTAL NON-CURRENT LIABILITIES	$57M
TOTAL LIABILITIES	$200M
Common Stock	$305.0K
Additional Paid-In Capital	$2.2B
Retained Earnings	-$559M
Treasury Stock	$0
Accum. Other Comp. Income	$3M
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$1.7B
Minority Interest	$0
TOTAL EQUITY	$1.7B
TOTAL LIABILITIES & EQUITY	$1.9B
Total Debt	$51M
Net Debt	-$216M