Balance Sheet Vanda Pharmaceuticals Inc.

Equities

VNDA

US9216591084

Biotechnology & Medical Research

Delayed Nasdaq Other stock markets 20:49:40 11/09/2024 BST			5-day change	1st Jan Change
4.940 ^USD	-0.80%		-2.76%	+17.06%

07-31	Transcript : Vanda Pharmaceuticals Inc., Q2 2024 Earnings Call, Jul 31, 2024
07-31	Earnings Flash (VNDA) VANDA PHARMACEUTICALS Reports Q2 Revenue $50.5M, vs. Street Est of $47.9M	MT

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Published financial data: VANDA PHARMACEUTICALS INC.

Annual

Quarterly

Halfyear

YTD

LTM

Fiscal Period: December	2019	2020	2021	2022	2023
Revenues	227M	248M	269M	254M	193M
Total Revenues	227M	248M	269M	254M	193M
Cost of Goods Sold, Total	24.49M	23.36M	25.63M	24.28M	14.8M
Gross Profit	203M	225M	243M	230M	178M
Selling General & Admin Expenses, Total	130M	141M	124M	136M	113M
R&D Expenses	48.65M	55.58M	75.36M	85.77M	76.82M
Amortization of Goodwill and Intangible Assets - (IS)	1.5M	1.48M	1.48M	1.52M	2.09M
Other Operating Expenses, Total	180M	198M	201M	224M	192M
Operating Income	22.81M	27.24M	42.16M	6.33M	-13.95M
Interest And Investment Income	-	4.42M	199K	4.97M	-
Net Interest Expenses	-	4.42M	199K	4.97M	-
Currency Exchange Gains (Loss)	-	-	-	-	-
Other Non Operating Income (Expenses)	6.22M	-	-	-	11.49M
EBT, Excl. Unusual Items	29.03M	31.66M	42.36M	11.3M	-2.46M
Merger & Related Restructuring Charges	-	-	-	-	-
Gain (Loss) On Sale Of Investments	-	-	-	-	8.8M
Other Unusual Items	-	-	-	-	-
EBT, Incl. Unusual Items	29.03M	31.66M	42.36M	11.3M	6.34M
Income Tax Expense	-86.52M	8.32M	9.21M	5.02M	3.83M
Earnings From Continuing Operations	116M	23.34M	33.15M	6.28M	2.51M
Net Income to Company	116M	23.34M	33.15M	6.28M	2.51M
Net Income - (IS)	116M	23.34M	33.15M	6.28M	2.51M
Net Income to Common Incl Extra Items	116M	23.34M	33.15M	6.28M	2.51M
Net Income to Common Excl. Extra Items	116M	23.34M	33.15M	6.28M	2.51M
Per Share Items
Net EPS - Basic	2.17	0.43	0.6	0.11	0.04
Basic EPS - Continuing Operations	2.17	0.43	0.6	0.11	0.04
Basic Weighted Average Shares Outstanding	53.14M	54.43M	55.55M	56.46M	57.38M
Net EPS - Diluted	2.11	0.42	0.58	0.11	0.04
Diluted EPS - Continuing Operations	2.11	0.42	0.58	0.11	0.04
Diluted Weighted Average Shares Outstanding	54.85M	55.19M	56.92M	56.98M	57.56M
Normalized Basic EPS	0.34	0.36	0.48	0.13	-0.03
Normalized Diluted EPS	0.33	0.36	0.47	0.12	-0.03
Supplemental Items
EBITDA	25.7M	30.1M	45.01M	9.06M	-10.94M
EBITA	24.32M	28.72M	43.64M	7.84M	-11.86M
EBIT	22.81M	27.24M	42.16M	6.33M	-13.95M
EBITDAR	28.4M	32.8M	47.71M	11.66M	-8.34M
Total Revenues (As Reported)	227M	248M	269M	254M	193M
Effective Tax Rate - (Ratio)	-298.07	26.28	21.74	44.47	60.42
Current Domestic Taxes	1.16M	2.06M	2.2M	3.71M	5.02M
Current Foreign Taxes	81K	68K	267K	185K	91K
Total Current Taxes	1.24M	2.13M	2.47M	3.9M	5.12M
Deferred Domestic Taxes	-87.75M	6.23M	6.72M	1.13M	-1.27M
Deferred Foreign Taxes	-16K	-42K	22K	3K	-15K
Total Deferred Taxes	-87.77M	6.19M	6.74M	1.13M	-1.28M
Normalized Net Income	18.14M	19.78M	26.48M	7.06M	-1.54M
Supplemental Operating Expense Items
Marketing Expenses	3.2M	12.6M	6.7M	2.6M	500K
Selling and Marketing Expenses	3.2M	12.6M	6.7M	2.6M	500K
Research And Development Expense From Footnotes	48.65M	55.58M	75.36M	85.77M	76.82M
Net Rental Expense, Total	2.7M	2.7M	2.7M	2.6M	2.6M
Stock-Based Comp., R&D Exp. (Total)	3.21M	3.8M	3.96M	3.96M	3.32M
Stock-Based Comp., SG&A Exp. (Total)	10.25M	9.56M	11.42M	12.32M	10.72M
Stock-Based Comp., Other (Total)	-	-	-	-	-
Total Stock-Based Compensation	13.46M	13.36M	15.37M	16.28M	14.04M

Fiscal Period: December	2019	2020	2021	2022	2023
Assets
Cash And Equivalents	45.07M	61.03M	52.07M	135M	136M
Short Term Investments	267M	307M	381M	332M	252M
Total Cash And Short Term Investments	312M	368M	433M	467M	388M
Accounts Receivable, Total	26.37M	30.04M	32.47M	33.51M	34.16M
Total Receivables	26.37M	30.04M	32.47M	33.51M	34.16M
Inventory	1.14M	1.28M	1.02M	1.19M	1.36M
Prepaid Expenses	14.5M	10.03M	12M	17.73M	9.17M
Restricted Cash	-	57K	-	-	-
Other Current Assets, Total	-	-	-	-	-
Total Current Assets	354M	409M	478M	519M	433M
Gross Property Plant And Equipment	21.66M	22.62M	21.76M	21.39M	20.32M
Accumulated Depreciation	-6.61M	-8.03M	-9.38M	-10.42M	-11.18M
Net Property Plant And Equipment	15.04M	14.6M	12.38M	10.97M	9.14M
Other Intangibles, Total	23.04M	21.56M	20.08M	18.56M	121M
Deferred Tax Assets Long-Term	87.68M	81.52M	74.88M	74.04M	75M
Other Long-Term Assets, Total	3.85M	6.64M	8.15M	11.38M	9.98M
Total Assets	484M	533M	594M	634M	648M
Liabilities
Accounts Payable, Total	1.67M	1.05M	925K	12.69M	7.14M
Accrued Expenses, Total	23.77M	27.99M	31.2M	30.53M	28.92M
Current Portion of Leases	2.15M	2.12M	2.31M	2.33M	2.4M
Unearned Revenue Current, Total	-	-	-	-	-
Other Current Liabilities	31.92M	34.78M	39.98M	45.88M	49.24M
Total Current Liabilities	59.5M	65.94M	74.42M	91.44M	87.7M
Long-Term Leases	12.46M	11.5M	10.06M	8.81M	7.01M
Deferred Tax Liability Non Current	-	-	-	-	-
Other Non Current Liabilities	843K	2.76M	4.39M	6.8M	8.83M
Total Liabilities	72.8M	80.19M	88.86M	107M	104M
Common Stock, Total	54K	55K	56K	57K	58K
Additional Paid In Capital	631M	650M	669M	686M	700M
Retained Earnings	-221M	-197M	-164M	-158M	-155M
Comprehensive Income and Other	249K	239K	-175K	-1.19M	-30K
Total Common Equity	411M	453M	505M	527M	545M
Total Equity	411M	453M	505M	527M	545M
Total Liabilities And Equity	484M	533M	594M	634M	648M
Supplemental Items
ECS Total Shares Outstanding on Filing Date	53.65M	54.88M	55.91M	56.79M	57.54M
ECS Total Common Shares Outstanding	53.55M	54.87M	55.9M	56.78M	57.53M
Book Value / Share	7.67	8.26	9.03	9.28	9.47
Tangible Book Value	388M	432M	485M	509M	424M
Tangible Book Value Per Share	7.24	7.87	8.67	8.96	7.36
Total Debt	14.6M	13.61M	12.37M	11.14M	9.4M
Net Debt	-298M	-354M	-420M	-456M	-379M
Debt Equivalent Oper. Leases	21.6M	21.6M	21.6M	20.8M	20.8M
Account Code - Inventory Valuation	5	5	5	5	5
Inventories - Raw Materials, Total	-	-	-	-	-
Inventories - Work In Process, Total	-	66K	30K	23K	27K
Inventories - Finished Goods, Total	1.14M	1.21M	995K	1.17M	1.33M
Inventories - Others	-	-	-	-	-
Machinery, Total	5.89M	6.71M	7.03M	7.58M	7.78M
Full Time Employees	284	292	278	290	203
Accumulated Allowance for Doubtful Accounts (Supple)	-	-	-	-	-

Fiscal Period: December	2019	2020	2021	2022	2023
Net Income	116M	23.34M	33.15M	6.28M	2.51M
Depreciation & Amortization - CF	1.39M	1.39M	1.36M	1.22M	920K
Amortization of Goodwill and Intangible Assets - (CF)	1.5M	1.48M	1.48M	1.52M	2.09M
Depreciation & Amortization, Total	2.89M	2.86M	2.84M	2.73M	3.01M
(Gain) Loss on Sale of Investments - (CF)	-3.1M	-50K	1.64M	-2.96M	-8.14M
Stock-Based Compensation (CF)	13.46M	13.36M	15.37M	16.28M	14.04M
Other Operating Activities, Total	-85.98M	7.95M	8.47M	3.59M	2.13M
Change In Accounts Receivable	2.34M	-3.77M	-2.47M	-1.09M	-707K
Change In Inventories	-722K	-2.88M	-2.23M	-4.48M	-771K
Change In Accounts Payable	3.51M	3.76M	3.04M	11.79M	-10.98M
Change in Unearned Revenues	-	-	-	-	-
Change in Other Net Operating Assets	-2M	7.2M	4.4M	-151K	11.72M
Cash from Operations	45.95M	51.78M	64.21M	31.98M	12.8M
Capital Expenditure	-1.02M	-1.8M	-552K	-679K	-101M
Sale (Purchase) of Intangible assets	-	-	-	-	-
Investment in Marketable and Equity Securities, Total	-67.29M	-39.7M	-76.14M	50.6M	88.99M
Other Investing Activities, Total	-	-	-	-	-
Cash from Investing	-68.31M	-41.5M	-76.7M	49.92M	-12.06M
Issuance of Common Stock	6.26M	5.63M	3.55M	734K	-
Repurchase of Common Stock	-	-	-	-	-
Cash from Financing	6.26M	5.63M	3.55M	734K	-
Foreign Exchange Rate Adjustments	-1K	53K	-91K	265K	47K
Net Change in Cash	-16.1M	15.96M	-9.02M	82.91M	792K
Supplemental Items
Cash Income Tax Paid (Refund)	-	-	-	-	3.6M
Levered Free Cash Flow	33.7M	38.52M	48.22M	32.34M	-88.78M
Unlevered Free Cash Flow	33.7M	38.52M	48.22M	32.34M	-88.78M
Change In Net Working Capital	-4.11M	-7.06M	-4.21M	-10.06M	-3.94M

Fiscal Period: December	2019	2020	2021	2022	2023
Profitability
Return on Assets	3.49	3.35	4.68	0.64	-1.36
Return on Total Capital	4.07	3.82	5.36	0.75	-1.6
Return On Equity %	33.67	5.4	6.92	1.22	0.47
Return on Common Equity	33.67	5.4	6.92	1.22	0.47
Margin Analysis
Gross Profit Margin %	89.22	90.59	90.46	90.45	92.32
SG&A Margin	57.11	56.62	46.17	53.65	58.6
EBITDA Margin %	11.31	12.13	16.75	3.56	-5.68
EBITA Margin %	10.7	11.57	16.24	3.08	-6.16
EBIT Margin %	10.04	10.98	15.69	2.49	-7.24
Income From Continuing Operations Margin %	50.86	9.4	12.34	2.47	1.3
Net Income Margin %	50.86	9.4	12.34	2.47	1.3
Net Avail. For Common Margin %	50.86	9.4	12.34	2.47	1.3
Normalized Net Income Margin	7.99	7.97	9.85	2.78	-0.8
Levered Free Cash Flow Margin	14.83	15.52	17.95	12.71	-46.08
Unlevered Free Cash Flow Margin	14.83	15.52	17.95	12.71	-46.08
Asset Turnover
Asset Turnover	0.56	0.49	0.48	0.41	0.3
Fixed Assets Turnover	23.35	16.75	19.92	21.78	19.16
Receivables Turnover (Average Receivables)	8.24	8.8	8.6	7.71	5.69
Inventory Turnover (Average Inventory)	22.95	19.31	22.24	21.89	11.6
Short Term Liquidity
Current Ratio	5.95	6.21	6.43	5.68	4.94
Quick Ratio	5.69	6.03	6.25	5.47	4.82
Operating Cash Flow to Current Liabilities	0.77	0.79	0.86	0.35	0.15
Days Sales Outstanding (Average Receivables)	44.3	41.59	42.45	47.33	64.1
Days Outstanding Inventory (Average Inventory)	15.9	18.95	16.41	16.68	31.46
Average Days Payable Outstanding	23.74	21.19	14.2	101.62	241.99
Cash Conversion Cycle (Average Days)	36.46	39.35	44.67	-37.61	-146.42
Long Term Solvency
Total Debt/Equity	3.55	3	2.45	2.11	1.73
Total Debt / Total Capital	3.43	2.92	2.39	2.07	1.7
LT Debt/Equity	3.03	2.54	1.99	1.67	1.29
Long-Term Debt / Total Capital	2.93	2.46	1.94	1.64	1.26
Total Liabilities / Total Assets	15.05	15.03	14.97	16.88	15.97
Total Debt / EBITDA	0.51	0.42	0.26	0.96	-1.13
Net Debt / EBITDA	-10.48	-10.8	-8.81	-39.08	45.42
Total Debt / (EBITDA - Capex)	0.53	0.44	0.26	1.01	-0.09
Net Debt / (EBITDA - Capex)	-10.87	-11.42	-8.92	-41.49	3.46
Growth Over Prior Year
Total Revenues, 1 Yr. Growth %	17.64	9.23	8.27	-5.32	-24.27
Gross Profit, 1 Yr. Growth %	17.43	10.9	8.12	-5.33	-22.71
EBITDA, 1 Yr. Growth %	4.08	17.12	49.51	-79.86	-220.75
EBITA, 1 Yr. Growth %	4.51	18.1	51.98	-82.02	-251.2
EBIT, 1 Yr. Growth %	4.93	19.42	54.8	-84.99	-320.45
Earnings From Cont. Operations, 1 Yr. Growth %	358.4	-79.8	42.06	-81.07	-60.02
Net Income, 1 Yr. Growth %	358.4	-79.8	42.06	-81.07	-60.02
Normalized Net Income, 1 Yr. Growth %	14.53	9.05	33.83	-73.33	-129.51
Diluted EPS Before Extra, 1 Yr. Growth %	339.58	-80.09	38.1	-81.03	-63.64
Accounts Receivable, 1 Yr. Growth %	-8.38	13.92	8.09	3.22	1.92
Inventory, 1 Yr. Growth %	14.69	12.28	-19.92	16.49	13.65
Net Property, Plant and Equip., 1 Yr. Growth %	240.59	-2.98	-15.14	-11.4	-16.7
Total Assets, 1 Yr. Growth %	45.65	10.28	11.31	6.81	2.24
Tangible Book Value, 1 Yr. Growth %	54.62	11.29	12.31	4.91	-16.73
Common Equity, 1 Yr. Growth %	49.21	10.3	11.4	4.41	3.36
Cash From Operations, 1 Yr. Growth %	53.23	12.68	24.03	-50.19