NBIX FY 2023 Earnings Report — Neurocrine Biosciences, Inc. Revenue & Financial Results | Market Cap Arena

Neurocrine Biosciences, Inc.NBIX

FY 2023 Earnings

Reported February 9, 2024

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	FY 2023	Prior Q	FY 2022	QoQ Change	YoY Change
Revenue	$1.9B	—	$1.5B	—	26.8%
Op. Income	$251M	—	$249M	—	0.8%
Gross Margin	97.9%	—	98.4%	—	-0.5pp
Net Margin	13.2%	—	10.4%	—	2.9pp
EPS (Diluted)	$2.47	—	$1.56	—	58.3%
Free Cash Flow	$362M	—	$323M	—	12.0%

Revenue Flow

Item	Amount
REVENUE	$1.9B
Cost of Revenue	$40M
GROSS PROFIT	$1.8B
R&D Expenses	$565M
Selling & Marketing	$0
General & Administrative	$0
SG&A Expenses	$888M
Other Expenses	$144M
Operating Expenses	$1.6B
Cost & Expenses	$1.6B
OPERATING INCOME	$251M
Interest Income	$0
Interest Expense	$5M
Other Income/Expenses	$81M
INCOME BEFORE TAX	$332M
Income Tax Expense	$82M
Net Income from Continuing Ops	$250M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$250M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$250M
D&A	$21M
EBIT	$395M
EBITDA	$416M
EPS	$3
EPS Diluted	$2

Income Statement

Item	Amount
REVENUE	$1.9B
Cost of Revenue	$40M
GROSS PROFIT	$1.8B
R&D Expenses	$565M
Selling & Marketing	$0
General & Administrative	$0
SG&A Expenses	$888M
Other Expenses	$144M
Operating Expenses	$1.6B
Cost & Expenses	$1.6B
OPERATING INCOME	$251M
Interest Income	$0
Interest Expense	$5M
Other Income/Expenses	$81M
INCOME BEFORE TAX	$332M
Income Tax Expense	$82M
Net Income from Continuing Ops	$250M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$250M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$250M
D&A	$21M
EBIT	$395M
EBITDA	$416M
EPS	$3
EPS Diluted	$2

Cash Flow Statement

Item	Amount
Net Income	$250M
Depreciation & Amortization	$21M
Stock-Based Compensation	$194M
Deferred Income Tax	-$57M
Other Non-Cash Items	-$47M
Change in Working Capital	$28M
OPERATING CASH FLOW	$390M
Capital Expenditure	-$28M
Acquisitions (Net)	$0
Purchases of Investments	-$1.4B
Sales/Maturities of Investments	$972M
Other Investing Activities	$0
NET CASH FROM INVESTING	-$467M
Net Debt Issuance	$0
Common Stock Repurchased	$0
Common Dividends Paid	$0
Other Financing Activities	$0
NET CASH FROM FINANCING	$65M
FREE CASH FLOW	$362M
Net Change in Cash	-$12M

Balance Sheet

Item	Amount
Cash & Equivalents	$251M
Short-Term Investments	$781M
Net Receivables	$439M
Inventory	$38M
Other Current Assets	$98M
TOTAL CURRENT ASSETS	$1.6B
PP&E (Net)	$347M
Goodwill	$0
Intangible Assets	$36M
Long-Term Investments	$849M
Tax Assets	$363M
Other Non-Current Assets	$50M
TOTAL NON-CURRENT ASSETS	$1.6B
TOTAL ASSETS	$3.3B
Account Payables	$133M
Short-Term Debt	$170M
Deferred Revenue	$0
Other Current Liabilities	$261M
TOTAL CURRENT LIABILITIES	$655M
Long-Term Debt	$0
Deferred Revenue NC	$0
Deferred Tax Liabilities	$0
Other Non-Current Liabilities	$106M
TOTAL NON-CURRENT LIABILITIES	$365M
TOTAL LIABILITIES	$1.0B
Common Stock	$100.0K
Additional Paid-In Capital	$2.4B
Retained Earnings	-$157M
Treasury Stock	$0
Accum. Other Comp. Income	$7M
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$2.2B
Minority Interest	$0
TOTAL EQUITY	$2.2B
TOTAL LIABILITIES & EQUITY	$3.3B
Total Debt	$428M
Net Debt	$177M