NBIX Q2 2020 Earnings Report — Neurocrine Biosciences, Inc. Revenue & Financial Results | Market Cap Arena

Neurocrine Biosciences, Inc.NBIX

Q2 2020 Earnings

Reported August 3, 2020

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	Q2 2020	Q1 2020	Q2 2019	QoQ Change	YoY Change
Revenue	$302M	$237M	$184M	27.5%	64.8%
Op. Income	$77M	$59M	$34M	30.1%	122.7%
Gross Margin	99.2%	99.1%	99.1%	0.1pp	0.1pp
Net Margin	26.3%	15.8%	28.0%	10.5pp	-1.7pp
EPS (Diluted)	$0.81	$0.39	$0.54	107.7%	50.0%
Free Cash Flow	$114M	$34M	$60M	233.9%	91.3%

Revenue Flow

Item	Amount
REVENUE	$302M
Cost of Revenue	$2M
GROSS PROFIT	$300M
R&D Expenses	$81M
Selling & Marketing	$0
General & Administrative	$0
SG&A Expenses	$97M
Other Expenses	$46M
Operating Expenses	$223M
Cost & Expenses	$226M
OPERATING INCOME	$77M
Interest Income	$0
Interest Expense	$8M
Other Income/Expenses	$7M
INCOME BEFORE TAX	$83M
Income Tax Expense	$4M
Net Income from Continuing Ops	$80M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$80M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$80M
D&A	$2M
EBIT	$92M
EBITDA	$94M
EPS	$1
EPS Diluted	$1

Income Statement

Item	Amount
REVENUE	$302M
Cost of Revenue	$2M
GROSS PROFIT	$300M
R&D Expenses	$81M
Selling & Marketing	$0
General & Administrative	$0
SG&A Expenses	$97M
Other Expenses	$46M
Operating Expenses	$223M
Cost & Expenses	$226M
OPERATING INCOME	$77M
Interest Income	$0
Interest Expense	$8M
Other Income/Expenses	$7M
INCOME BEFORE TAX	$83M
Income Tax Expense	$4M
Net Income from Continuing Ops	$80M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$80M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$80M
D&A	$2M
EBIT	$92M
EBITDA	$94M
EPS	$1
EPS Diluted	$1

Cash Flow Statement

Item	Amount
Net Income	$80M
Depreciation & Amortization	$2M
Stock-Based Compensation	$30M
Deferred Income Tax	$0
Other Non-Cash Items	-$6M
Change in Working Capital	$13M
OPERATING CASH FLOW	$119M
Capital Expenditure	-$5M
Acquisitions (Net)	$0
Purchases of Investments	-$117M
Sales/Maturities of Investments	$215M
Other Investing Activities	$0
NET CASH FROM INVESTING	$93M
Net Debt Issuance	$0
Common Stock Repurchased	$0
Common Dividends Paid	$0
Other Financing Activities	$0
NET CASH FROM FINANCING	$16M
FREE CASH FLOW	$114M
Net Change in Cash	$228M

Balance Sheet

Item	Amount
Cash & Equivalents	$415M
Short-Term Investments	$533M
Net Receivables	$148M
Inventory	$22M
Other Current Assets	$28M
TOTAL CURRENT ASSETS	$1.1B
PP&E (Net)	$117M
Goodwill	$0
Intangible Assets	$0
Long-Term Investments	$246M
Tax Assets	$0
Other Non-Current Assets	$7M
TOTAL NON-CURRENT ASSETS	$369M
TOTAL ASSETS	$1.5B
Account Payables	$0
Short-Term Debt	$420M
Deferred Revenue	$0
Other Current Liabilities	$154M
TOTAL CURRENT LIABILITIES	$573M
Long-Term Debt	$0
Deferred Revenue NC	$0
Deferred Tax Liabilities	$0
Other Non-Current Liabilities	$27M
TOTAL NON-CURRENT LIABILITIES	$111M
TOTAL LIABILITIES	$684M
Common Stock	$100.0K
Additional Paid-In Capital	$1.8B
Retained Earnings	-$1.0B
Treasury Stock	$0
Accum. Other Comp. Income	$5M
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$831M
Minority Interest	$0
TOTAL EQUITY	$831M
TOTAL LIABILITIES & EQUITY	$1.5B
Total Debt	$504M
Net Debt	$89M