Avadel Pharmaceuticals plc (AVDL) financial statements (2022 and earlier)

Company profile

Business Address BLOCK 10-1 BLANCHARDSTOWN CORPORATE PARK
DUBLIN, 15
State of Incorp.
Fiscal Year End December 31
SIC 2834 - Pharmaceutical Preparations (benchmarking)
More info Complete financial analysis Financial benchmarking

Balance sheet (Statement of financial position) ($ in thousands)

12/31/2021
12/31/2020
12/31/2019
12/31/2018
12/31/2017
12/31/2016
12/31/2015
ASSETS
Current Assets
Cash, cash equivalents, and short-term investments157,22173,19964,15812,67594,075154,195144,802
Cash and cash equivalents50,70871,7229,7749,32516,56439,21565,064
Short-term investments106,5131,47754,3843,35077,511114,98079,738
Receivables29,09718,9569,86813,62916,50919,02611,603
Inventory, net of allowances, customer advances and progress billings  3,5704,7706,1573,2584,155
Inventory  3,5704,7706,1573,2584,155
Prepaid expense3,1791,0182,1162,1457,1063,4422,846
Other current assets271457107225   
Other undisclosed current assets2,722169,8242,56191,4071281,2652,900
Total current assets:192,490263,45482,380124,851123,975181,186166,306
Noncurrent Assets
Operating lease, right-of-use asset2,6522,604 
Property, plant and equipment2853595441,9113,0013,3202,616
Intangible assets, net (including goodwill)16,83616,83619,30420,120110,78041,32834,316
Goodwill16,83616,83618,49118,49118,49118,49118,491
Intangible assets, net (excluding goodwill)  8131,62992,28922,83715,825
Other noncurrent assets33,77724,93939,27436,14610,2497,531158
Deferred tax assets, net  10,34211,581
Other undisclosed noncurrent assets1,2253,4459,9347,2725,2721,775 
Total noncurrent assets:54,77548,18369,05665,449129,30264,29648,671
TOTAL ASSETS:247,265311,637151,436190,300253,277245,482214,977
LIABILITIES AND EQUITY
Liabilities
Current Liabilities
Accounts payable and accrued liabilities14,8309,43525,91025,27158,81725,52714,486
Accounts payable7,6792,9346,1003,5037,4777,10510,565
Accrued liabilities7,1516,50119,81021,69550,92617,2223,598
Taxes payable   734141,200323
Debt   106111268434
Due to related parties  5,5549,43925,00734,177 
Business combination, contingent consideration, liability      28,614
Deferred revenue and credits2,0072,2235,121
Contract with customer, liability114
Other liabilities5,2705,2003,8753,453597226133
Other undisclosed current liabilities900474645    
Total current liabilities:21,00015,10935,98438,38386,53962,42148,788
Noncurrent Liabilities
Long-term debt and lease obligation144,104130,050121,686115,734156547684
Long-term debt, excluding current maturities142,397128,210121,686115,734156547684
Operating lease, liability1,7071,840 
Liabilities, other than long-term debt3,9174,21220,64633,40381,002140,44597,640
Deferred tax liabilities, net   1,351
Due to related parties  11,77319,40173,918135,170 
Other liabilities3,9174,2128,87314,0027,0845,2752,210
Business combination, contingent consideration, liability      94,079
Other undisclosed noncurrent liabilities  2,319    
Total noncurrent liabilities:148,021134,262144,651149,13781,158140,99298,324
Total liabilities:169,021149,371180,635187,520167,697203,413147,112
Stockholders' equity
Stockholders' equity attributable to parent78,244162,266(29,199)2,78085,58042,06967,865
Preferred stock55     
Common stock5865834294274144146,331
Treasury stock, value  (49,998)(49,998)(22,361)  
Additional paid in capital549,349566,916434,391433,756393,478385,020363,984
Accumulated other comprehensive loss(23,940)(21,051)(22,806)(23,416)(23,266)(23,565)(22,657)
Accumulated deficit(447,756)(384,187)(391,215)(357,989)(262,685)(319,800)(279,793)
Total stockholders' equity:78,244162,266(29,199)2,78085,58042,06967,865
TOTAL LIABILITIES AND EQUITY:247,265311,637151,436190,300253,277245,482214,977

Income statement (P&L) ($ in thousands)

12/31/2021
12/31/2020
12/31/2019
12/31/2018
12/31/2017
12/31/2016
12/31/2015
Revenues11022,33459,215103,269173,245150,246173,209
Revenue, net173,245150,246173,209
Sublease income110336 
Cost of revenue (6,105)(17,065)(25,151)(22,502)(27,136)(23,485)
Cost of goods and services sold (5,742)(12,125)(17,516)(16,301)(13,248)(10,921)
Gross profit:11016,22942,15078,118150,743123,110149,724
Operating expenses(85,599)(10,414)(66,262)(183,044)(61,238)(128,075)(78,277)
Other undisclosed operating loss(57)      
Operating income (loss):(85,546)5,815(24,112)(104,926)89,505(4,965)71,447
Nonoperating income (expense)2,126(1,267)(1,987)2,3514,2072,75813,245
Investment income, nonoperating2,126(832)(1,609)4522,8501,6352,651
Foreign currency transaction gain (loss), before tax    (714)1,12310,594
Other nonoperating income (expense) (435)(378)1,8992,071  
Interest and debt expense(9,942)(12,994)(12,483)(10,622)(1,052)(7,511)(6,298)
Other undisclosed income from continuing operations before equity method investments, income taxes 3,364     
Income (loss) from continuing operations before equity method investments, income taxes:(93,362)(5,082)(38,582)(113,197)92,660(9,718)78,394
Other undisclosed income from continuing operations before income taxes217      
Income (loss) from continuing operations before income taxes:(93,145)(5,082)(38,582)(113,197)92,660(9,718)78,394
Income tax expense (benefit)15,81612,1105,35617,893(24,389)(31,558)(37,735)
Net income (loss) available to common stockholders, diluted:(77,329)7,028(33,226)(95,304)68,271(41,276)40,659

Comprehensive Income ($ in thousands)

12/31/2021
12/31/2020
12/31/2019
12/31/2018
12/31/2017
12/31/2016
12/31/2015
Net income (loss):(77,329)7,028(33,226)(95,304)68,271(41,276)40,659
Comprehensive income (loss):(77,329)7,028(33,226)(95,304)68,271(41,276)40,659
Other undisclosed comprehensive income (loss), net of tax, attributable to parent(2,889)1,755610(150)299(908)(15,234)
Comprehensive income (loss), net of tax, attributable to parent:(80,218)8,783(32,616)(95,454)68,570(42,184)25,425

Statements sources

The financial statements are based on the company's filings with the The U.S. Securities and Exchange Commission (SEC) through the Electronic Data Gathering, Analysis, and Retrieval system (EDGAR). The information is derived from the 10-K and 10-Q reports submitted to the SEC in XBRL (eXtensible Business Reporting Language) format and presented according to the US GAAP Taxonomy. Please review the original filings for a more detailed information.

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