NBIX FY 2021 Earnings Report — Neurocrine Biosciences, Inc. Revenue & Financial Results | Market Cap Arena

Neurocrine Biosciences, Inc.NBIX

FY 2021 Earnings

Reported February 11, 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	$1.1B	—	$1.0B	—	8.4%
Op. Income	$103M	—	$163M	—	-37.1%
Gross Margin	98.7%	—	99.0%	—	-0.3pp
Net Margin	7.9%	—	38.9%	—	-31.0pp
EPS (Diluted)	$0.92	—	$4.16	—	-77.9%
Free Cash Flow	$233M	—	$218M	—	7.1%

Revenue Flow

Item	Amount
REVENUE	$1.1B
Cost of Revenue	$14M
GROSS PROFIT	$1.1B
R&D Expenses	$328M
Selling & Marketing	$0
General & Administrative	$0
SG&A Expenses	$583M
Other Expenses	$105M
Operating Expenses	$1.0B
Cost & Expenses	$1.0B
OPERATING INCOME	$103M
Interest Income	$0
Interest Expense	$26M
Other Income/Expenses	-$1M
INCOME BEFORE TAX	$101M
Income Tax Expense	$12M
Net Income from Continuing Ops	$90M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$90M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$90M
D&A	$11M
EBIT	$127M
EBITDA	$138M
EPS	$1
EPS Diluted	$1

Income Statement

Item	Amount
REVENUE	$1.1B
Cost of Revenue	$14M
GROSS PROFIT	$1.1B
R&D Expenses	$328M
Selling & Marketing	$0
General & Administrative	$0
SG&A Expenses	$583M
Other Expenses	$105M
Operating Expenses	$1.0B
Cost & Expenses	$1.0B
OPERATING INCOME	$103M
Interest Income	$0
Interest Expense	$26M
Other Income/Expenses	-$1M
INCOME BEFORE TAX	$101M
Income Tax Expense	$12M
Net Income from Continuing Ops	$90M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$90M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$90M
D&A	$11M
EBIT	$127M
EBITDA	$138M
EPS	$1
EPS Diluted	$1

Cash Flow Statement

Item	Amount
Net Income	$90M
Depreciation & Amortization	$11M
Stock-Based Compensation	$134M
Deferred Income Tax	$4M
Other Non-Cash Items	$800.0K
Change in Working Capital	$17M
OPERATING CASH FLOW	$257M
Capital Expenditure	-$23M
Acquisitions (Net)	$0
Purchases of Investments	-$805M
Sales/Maturities of Investments	$698M
Other Investing Activities	$0
NET CASH FROM INVESTING	-$130M
Net Debt Issuance	-$100.0K
Common Stock Repurchased	$0
Common Dividends Paid	$0
Other Financing Activities	$0
NET CASH FROM FINANCING	$27M
FREE CASH FLOW	$233M
Net Change in Cash	$154M

Balance Sheet

Item	Amount
Cash & Equivalents	$341M
Short-Term Investments	$371M
Net Receivables	$186M
Inventory	$31M
Other Current Assets	$46M
TOTAL CURRENT ASSETS	$973M
PP&E (Net)	$156M
Goodwill	$0
Intangible Assets	$0
Long-Term Investments	$624M
Tax Assets	$315M
Other Non-Current Assets	$4M
TOTAL NON-CURRENT ASSETS	$1.1B
TOTAL ASSETS	$2.1B
Account Payables	$52M
Short-Term Debt	$0
Deferred Revenue	$0
Other Current Liabilities	$133M
TOTAL CURRENT LIABILITIES	$246M
Long-Term Debt	$335M
Deferred Revenue NC	$0
Deferred Tax Liabilities	$0
Other Non-Current Liabilities	$12M
TOTAL NON-CURRENT LIABILITIES	$453M
TOTAL LIABILITIES	$699M
Common Stock	$100.0K
Additional Paid-In Capital	$2.0B
Retained Earnings	-$636M
Treasury Stock	$0
Accum. Other Comp. Income	-$2M
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$1.4B
Minority Interest	$0
TOTAL EQUITY	$1.4B
TOTAL LIABILITIES & EQUITY	$2.1B
Total Debt	$440M
Net Debt	$100M