EXEL FY 2021 Earnings Report — Exelixis, Inc. Revenue & Financial Results | Market Cap Arena

Exelixis, Inc.EXEL

FY 2021 Earnings

Reported February 18, 2022

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	FY 2021	Prior Q	FY 2020	QoQ Change	YoY Change
Revenue	$1.4B	—	$988M	—	45.3%
Op. Income	$287M	—	$110M	—	160.5%
Gross Margin	96.3%	—	96.3%	—	-0.0pp
Net Margin	16.1%	—	11.3%	—	4.8pp
EPS (Diluted)	$0.72	—	$0.35	—	105.7%
Free Cash Flow	$337M	—	$179M	—	88.4%

Revenue Flow

Item	Amount
REVENUE	$1.4B
Cost of Revenue	$53M
GROSS PROFIT	$1.4B
R&D Expenses	$694M
Selling & Marketing	$32M
General & Administrative	$370M
SG&A Expenses	$402M
Other Expenses	-$184.0K
Operating Expenses	$1.1B
Cost & Expenses	$1.1B
OPERATING INCOME	$287M
Interest Income	$8M
Interest Expense	$0
Other Income/Expenses	$7M
INCOME BEFORE TAX	$294M
Income Tax Expense	$63M
Net Income from Continuing Ops	$231M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$231M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$231M
D&A	$14M
EBIT	$287M
EBITDA	$300M
EPS	$1
EPS Diluted	$1

Income Statement

Item	Amount
REVENUE	$1.4B
Cost of Revenue	$53M
GROSS PROFIT	$1.4B
R&D Expenses	$694M
Selling & Marketing	$32M
General & Administrative	$370M
SG&A Expenses	$402M
Other Expenses	-$184.0K
Operating Expenses	$1.1B
Cost & Expenses	$1.1B
OPERATING INCOME	$287M
Interest Income	$8M
Interest Expense	$0
Other Income/Expenses	$7M
INCOME BEFORE TAX	$294M
Income Tax Expense	$63M
Net Income from Continuing Ops	$231M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$231M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$231M
D&A	$14M
EBIT	$287M
EBITDA	$300M
EPS	$1
EPS Diluted	$1

Cash Flow Statement

Item	Amount
Net Income	$231M
Depreciation & Amortization	$14M
Stock-Based Compensation	$120M
Deferred Income Tax	$47M
Other Non-Cash Items	$29M
Change in Working Capital	-$39M
OPERATING CASH FLOW	$401M
Capital Expenditure	-$64M
Acquisitions (Net)	$0
Purchases of Investments	-$1.4B
Sales/Maturities of Investments	$1.4B
Other Investing Activities	-$10M
NET CASH FROM INVESTING	-$43M
Net Debt Issuance	$0
Common Stock Repurchased	$0
Common Dividends Paid	$0
Other Financing Activities	-$15M
NET CASH FROM FINANCING	-$15M
FREE CASH FLOW	$337M
Net Change in Cash	$343M

Balance Sheet

Item	Amount
Cash & Equivalents	$647M
Short-Term Investments	$820M
Net Receivables	$283M
Inventory	$27M
Other Current Assets	$0
TOTAL CURRENT ASSETS	$1.8B
PP&E (Net)	$104M
Goodwill	$64M
Intangible Assets	$0
Long-Term Investments	$371M
Tax Assets	$112M
Other Non-Current Assets	$131M
TOTAL NON-CURRENT ASSETS	$781M
TOTAL ASSETS	$2.6B
Account Payables	$24M
Short-Term Debt	$0
Deferred Revenue	$8M
Other Current Liabilities	$46M
TOTAL CURRENT LIABILITIES	$338M
Long-Term Debt	$0
Deferred Revenue NC	$9M
Deferred Tax Liabilities	$0
Other Non-Current Liabilities	$8M
TOTAL NON-CURRENT LIABILITIES	$68M
TOTAL LIABILITIES	$406M
Common Stock	$319.0K
Additional Paid-In Capital	$2.4B
Retained Earnings	-$217M
Treasury Stock	$0
Accum. Other Comp. Income	-$758.0K
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$2.2B
Minority Interest	$0
TOTAL EQUITY	$2.2B
TOTAL LIABILITIES & EQUITY	$2.6B
Total Debt	$51M
Net Debt	-$596M