filings.toolsItem 6. SELECTED FINANCIAL DATA
5K characters. Original on sec.gov · Markdown
Item 6. SELECTED FINANCIAL DATA
The consolidated statements of operations data for the years ended December 31, 2019*,* 2018*, and* 2017 and the consolidated balance sheet data as of December 31, 2019 and 2018 have been derived from our audited consolidated financial statements included elsewhere in this Annual Report. The statements of operations data for the years ended December 31, 2016 and 2015 and the consolidated balance sheet data as of December 31, 2017*,* 2016 and 2015 have been derived from our audited consolidated financial statements not included in this Annual Report. The following selected financial data should be read in conjunction with our “Management’s Discussion and Analysis of Financial Condition and Results of Operations” in Part II, Item 7 and our consolidated financial statements and related notes in Part II, Item 8 of this Annual Report.
| Twelve Months Ended December 31, | ||||||||||||||||||||
| (In millions, except per share data) | 2019 | 2018 | 2017 | 2016 | 2015 | |||||||||||||||
| Consolidated Statements of Operations Data: | ||||||||||||||||||||
| Product revenue | $ | 1,476.0 | $ | 1,031.6 | $ | 718.5 | $ | 573.3 | $ | 400.7 | ||||||||||
| Development grant and other revenue | — | — | — | — | 1.3 | |||||||||||||||
| Total revenue | 1,476.0 | 1,031.6 | 718.5 | 573.3 | 402.0 | |||||||||||||||
| Cost of sales | 544.5 | 367.7 | 226.4 | 194.9 | 123.6 | |||||||||||||||
| Gross profit | 931.5 | 663.9 | 492.1 | 378.4 | 278.4 | |||||||||||||||
| Operating expenses: | ||||||||||||||||||||
| Research and development | 273.5 | 199.7 | 185.4 | 156.1 | 101.0 | |||||||||||||||
| Collaborative research and development fees(1) | — | 217.7 | — | — | 36.5 | |||||||||||||||
| Selling, general and administrative | 515.7 | 432.8 | 349.2 | 286.2 | 198.0 | |||||||||||||||
| Total operating expenses | 789.2 | 850.2 | 534.6 | 442.3 | 335.5 | |||||||||||||||
| Operating income (loss) | 142.3 | (186.3 | ) | (42.5 | ) | (63.9 | ) | (57.1 | ) | |||||||||||
| Interest expense | (60.3 | ) | (22.7 | ) | (12.8 | ) | (0.7 | ) | (0.4 | ) | ||||||||||
| Income (loss) from equity investments | (4.2 | ) | 80.1 | — | — | — | ||||||||||||||
| Interest and other income (expense), net | 26.4 | 2.4 | 6.7 | (0.3 | ) | — | ||||||||||||||
| Income (loss) before income taxes | 104.2 | (126.5 | ) | (48.6 | ) | (64.9 | ) | (57.5 | ) | |||||||||||
| Income tax expense | 3.1 | 0.6 | 1.6 | 0.7 | 0.1 | |||||||||||||||
| Net income (loss) | $ | 101.1 | $ | (127.1 | ) | $ | (50.2 | ) | $ | (65.6 | ) | $ | (57.6 | ) | ||||||
| Basic net income (loss) per share(2) | $ | 1.11 | $ | (1.44 | ) | $ | (0.58 | ) | $ | (0.78 | ) | $ | (0.72 | ) | ||||||
| Shares used to compute basic net income (loss) per share(2) | 91.1 | 88.2 | 86.3 | 83.6 | 79.8 | |||||||||||||||
| Diluted net income (loss) per share(2) | $ | 1.10 | $ | (1.44 | ) | $ | (0.58 | ) | $ | (0.78 | ) | $ | (0.72 | ) | ||||||
| Shares used to compute diluted net income (loss) per share(2) | 92.3 | 88.2 | 86.3 | 83.6 | 79.8 | |||||||||||||||
| As of December 31, | ||||||||||||||||||||
| (In millions) | 2019 | 2018 | 2017 | 2016 | 2015 | |||||||||||||||
| Consolidated Balance Sheet Data: | ||||||||||||||||||||
| Cash, cash equivalents, and short-term marketable securities | $ | 1,533.3 | $ | 1,385.6 | $ | 548.6 | $ | 123.7 | $ | 115.2 | ||||||||||
| Working capital | 1,609.2 | 1,477.1 | 605.8 | 177.6 | 164.4 | |||||||||||||||
| Total assets | 2,395.0 | 1,916.0 | 904.1 | 402.8 | 292.0 | |||||||||||||||
| Long-term liabilities | 1,152.2 | 1,030.3 | 345.8 | 16.6 | 3.9 | |||||||||||||||
| Total stockholders’ equity | $ | 882.6 | $ | 663.3 | $ | 419.4 | $ | 283.8 | $ | 221.2 |
| (1) | See Note 2 to the consolidated financial statements in Part II, Item 8 of this Annual Report for a description of our Restated Collaboration Agreement with Verily Life Sciences LLC and Verily Ireland Limited. |
| (2) | See Note 1 to the consolidated financial statements in Part II, Item 8 of this Annual Report for a description of the method used to compute basic and diluted net loss per share attributable to common stockholders. |
Previous: Item 5. MARKET FOR REGISTRANT’S COMMON EQUITY, RELATED STOCKHOLDER MATTERS AND ISSUER PURCHASES OF EQUITY SECURITIES · Next: Item 7. MANAGEMENT’S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS