Altimmune, Inc. (ALT)
Altimmune, Inc. is a clinical-stage biopharmaceutical company focused on pioneering treatments for obesity and various liver diseases. Its primary investigational drug, pemvidutide (proposed INN, previously known as ALT-801), operates as a GLP-1/glucagon dual receptor agonist. This compound is currently undergoing Phase 1b clinical trials, exploring its efficacy in treating both obesity and non-alcoholic steatohepatitis (NASH). Additionally, Altimmune is advancing HepTcell, an immunotherapeutic candidate, through Phase 2 clinical trials. This therapy is designed for individuals suffering from chronic hepatitis B virus infection. The enterprise, initially named Vaxin Inc., officially adopted the Altimmune, Inc. moniker in September 2015. Established in 1997, the company maintains its corporate headquarters in Gaithersburg, Maryland.
Sector: Pharmaceutical Preparations
Industry: Biotechnology
Altimmune, Inc.
NASDAQ:ALTHealthcare · Biotechnology
-4.67%$2.04
AH$2.07+1.47%vs close
Mkt Cap$396.82M
Float190.59M
O/S194.52M
Vol
$ Vol
RVOL
Inst Own77.2%
SI22.2%
Earnings
Dilution
Financials Summary
Revenue$41K
Net Income-$88.09M
Total Assets$279.93M
Free Cash Flow-$67.55M
Debt & Equity
Debt 14%
Equity 86%
Total Debt$35.69M
Total Equity$224.89M
Shares Outstanding
Short Interest
Split History3 splits · 3 reverse
- 1:30Reverse splitSep 14, 201830 shares → 1
- 1:10Reverse splitMay 4, 201710 shares → 1
- 1:50Reverse splitJul 25, 200750 shares → 1
Balance Sheet Details
Assets$279.93M
Liabilities$55.04M
Accounts Receivable$1.74M
Accounts Payable$2.72M
Inventory$0
PP&E (Net)$312K
Goodwill$0
Intangible Assets$0
Income Statement
| Period | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 | FY 2015 | FY 2014 | FY 2013 | FY 2012 | FY 2011 | FY 2010 | FY 2009 | FY 2008 | FY 2007 | FY 2006 | FY 2005 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Currency | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD |
| Period Ending | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 | 2020-12-31 | 2019-12-31 | 2018-12-31 | 2017-12-31 | 2016-12-31 | 2015-12-31 | 2014-12-31 | 2013-12-31 | 2012-12-31 | 2011-12-31 | 2010-12-31 | 2009-12-31 | 2008-12-31 | 2007-12-31 | 2006-12-31 | 2005-12-31 |
| Revenue | $41K | $20K | $426K | -$68K | $4.41M | $8.19M | $5.8M | $10.33M | $42K | $5.23M | $10.64M | $10.19M | $17.91M | $25.18M | $24.27M | $20.99M | $27.55M | $32.91M | $14.64M | $1.85M | $586K |
| YoY Growth | 105.0% | -95.3% | -726.5% | -101.5% | -46.1% | 41.1% | -43.8% | 24792.6% | -99.2% | -50.8% | 4.4% | -43.1% | -28.9% | 3.7% | 15.6% | -23.8% | -16.3% | 124.7% | 692.5% | 215.3% | - |
| Cost of Revenue | $0 | $0 | $0 | $0 | $0 | $33.51M | $0 | $18.46M | $18.41M | $7.22M | $5.06M | $4.27M | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $115K |
| Gross Profit | $41K | $20K | $426K | -$68K | $4.41M | -$25.32M | $5.8M | -$8.13M | -$18.36M | -$1.99M | $5.58M | $5.93M | $17.91M | $25.18M | $24.27M | $20.99M | $27.55M | $32.91M | $14.64M | $1.85M | $471K |
| Gross Margin | 100.0% | 100.0% | 100.0% | 100.0% | 100.0% | -309.4% | 100.0% | -78.7% | -44249.4% | -38.1% | 52.4% | 58.1% | 100.0% | 100.0% | 100.0% | 100.0% | 100.0% | 100.0% | 100.0% | 100.0% | 80.4% |
| Research and Development | $66.43M | $82.23M | $65.8M | $70.54M | $74.54M | $49.77M | $17.77M | $18.46M | $18.41M | $4.84M | $5.13M | $9.32M | $15.29M | $19.51M | $21.22M | $20.88M | $30.22M | $31.81M | $16.56M | $0 | $0 |
| Selling, General, and Administrative | $28.1M | $20.97M | $18.14M | $17.13M | $15.41M | $13.21M | $8.5M | $9.77M | $8.46M | $11.52M | $6.22M | $10.91M | $13.28M | $11.63M | $14.31M | $18.02M | $22.43M | $19.4M | $13.88M | $491K | $146K |
| Other | $0 | $0 | $12.42M | $0 | $11.37M | -$33.51M | $1M | $278K | $6K | $8K | $8K | -$762 | -$6K | $48K | $461K | $5.66M | $872K | $814K | $705K | $153K | $0 |
| Total Operating Expenses | $94.53M | $103.19M | $96.36M | $87.67M | $101.32M | $29.47M | $27.27M | $28.22M | $16.17M | $16.49M | $11.5M | $20.38M | $28.75M | $31.44M | $35.99M | $44.55M | $53.52M | $52.02M | $31.15M | $644K | $146K |
| Operating Income (EBIT) | -$94.49M | -$103.17M | -$95.93M | -$87.74M | -$96.91M | -$54.8M | -$21.46M | -$42.83M | -$52.05M | -$11.26M | -$3.4M | -$10.19M | -$10.84M | -$6.27M | -$11.73M | -$23.55M | -$25.97M | -$35.24M | -$16.5M | $1.2M | $325K |
| Operating Margin | -230461.0% | -515860.0% | -22518.5% | 129029.4% | -2197.6% | -669.5% | -370.0% | -414.6% | -125401.2% | -215.4% | -32.0% | -100.0% | -60.5% | -24.9% | -48.3% | -112.2% | -94.3% | -107.1% | -112.7% | 65.1% | 55.5% |
| Interest Expense | $1.64M | $9K | $35K | $8K | $5K | $9K | $2K | $297K | $162K | $38K | $55K | $210K | $369K | $343K | $55K | $5.94M | $2.84M | $2.57M | $2.12M | $0 | $0 |
| Interest Income | $7.54M | $8.07M | $7.35M | $2.87M | $203K | $323K | $843K | $227K | $48K | $1K | $0 | $0 | $3K | $18K | $17K | $7K | $269K | $1.23M | $1.12M | $1.85M | $586K |
| Other Income (Expense) | $5.71M | $8.11M | $7.48M | $2.83M | -$176K | $11.17M | $886K | -$2.49M | -$19K | $5K | $3.21M | $298K | -$4.62M | -$758K | $7.93M | -$11.3M | -$6.31M | -$1.17M | $2.92M | $15.74M | $0 |
| Income Before Tax (EBT) | -$88.77M | -$95.06M | -$88.45M | -$84.91M | -$97.09M | -$43.63M | -$20.58M | -$45.32M | -$52.06M | $205.02M | -$3.38M | -$9.89M | -$11.66M | -$4.72M | -$3.8T | -$34.85T | -$32.28B | -$36.42B | -$13.59M | $1.2M | $325K |
| Income Tax Expense | -$681K | $0 | $0 | -$197K | $0 | $5.42M | -$59K | -$6.15M | -$5.64M | $11.17M | $62K | $62K | $62K | $196K | -$7.93M | $15.93M | $6.31M | $17.3M | $0 | $187K | $48K |
| Net Income | -$88.09M | -$95.06M | -$88.45M | -$84.71M | -$97.09M | -$49.04M | -$20.52M | -$39.17M | -$46.43M | $193.85M | -$3.44M | -$9.96M | -$11.72M | -$4.92M | -$3.8M | -$34.85M | -$32.28M | -$36.42M | -$13.59M | $1.02M | $277K |
| Net Income Margin | -214861.0% | -475295.0% | -20762.2% | 124577.9% | -2201.6% | -599.2% | -353.7% | -379.2% | -111860.3% | 3706.4% | -32.3% | -97.7% | -65.4% | -19.5% | -15.6% | -166.0% | -117.2% | -110.6% | -92.8% | 55.0% | 47.3% |
| Supplementary Data | |||||||||||||||||||||
| EPS | -1.00 | -1.34 | -1.66 | -1.81 | -2.35 | -1.91 | -1.56 | -13.98 | -108.77 | -49.80 | -16.13 | -51.91 | -69.40 | -30.55 | -24.07 | -323.59 | -351.19 | -476.15 | -431.69 | 23.63 | 12.00 |
| Diluted EPS | -1.00 | -1.34 | -1.66 | -1.81 | -2.35 | -1.91 | -1.56 | -13.98 | -108.77 | -49.80 | -16.13 | -51.91 | -69.40 | -30.55 | -24.07 | -323.59 | -351.19 | -476.15 | -431.69 | 21.71 | 9.00 |
| Weighted Average OS | 88.10M | 71.00M | 53.25M | 46.93M | 41.28M | 25.64M | 13.12M | 2.80M | 426,832 | 230,382 | 213,284 | 191,782 | 168,862 | 161,075 | 157,770 | 107,697 | 91,916 | 76,479 | 31,475 | 43,006 | 26,230 |
| EBITDA | -$87.03M | -$94.81M | -$87.94M | -$84.41M | -$96.53M | -$38.1M | -$20.19M | -$44.72M | -$51.76M | -$10.91M | -$3.18M | -$9.53M | -$11.1M | -$4.08M | -$3.28M | -$23.26M | -$28.57M | -$33.03M | -$15.8M | -$14.05M | $325K |
| EBITDA Margin | -212258.5% | -474060.0% | -20642.0% | 124130.9% | -2189.0% | -465.5% | -348.0% | -432.9% | -124720.2% | -208.7% | -29.9% | -93.5% | -62.0% | -16.2% | -13.5% | -110.8% | -103.7% | -100.4% | -107.9% | -760.4% | 55.5% |
Balance Sheet
| Period | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 | FY 2015 | FY 2014 | FY 2013 | FY 2012 | FY 2011 | FY 2010 | FY 2009 | FY 2008 | FY 2007 | FY 2006 | FY 2005 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Currency | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD |
| Period Ending | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 | 2020-12-31 | 2019-12-31 | 2018-12-31 | 2017-12-31 | 2016-12-31 | 2015-12-31 | 2014-12-31 | 2013-12-31 | 2012-12-31 | 2011-12-31 | 2010-12-31 | 2009-12-31 | 2008-12-31 | 2007-12-31 | 2006-12-31 | 2005-12-31 |
| Assets | |||||||||||||||||||||
| Current Assets | |||||||||||||||||||||
| Cash and Cash Equivalents | $43.76M | $36.93M | $135.12M | $111.1M | $190.3M | $115.92M | $8.96M | $33.72M | $8.77M | $153.99M | $15.57M | $18.64M | $10.48M | $12.7M | $11.24M | $11.79M | $2.67M | $19.75M | $40.58M | $675K | $1.4M |
| Short-Term Investments | $229.7M | $94.97M | $62.7M | $73.78M | $0 | $100.01M | $28.28M | $0 | $0 | $66.81M | $0 | $0 | $0 | $0 | $0 | $0 | $3.14M | $3.19M | $12.15M | $0 | $0 |
| Cash and Short-Term Investments | $273.46M | $131.89M | $197.81M | $184.88M | $190.3M | $215.92M | $37.24M | $33.72M | $8.77M | $220.81M | $15.57M | $18.64M | $10.48M | $12.7M | $11.24M | $11.79M | $5.81M | $22.94M | $52.74M | $675K | $1.4M |
| Accounts Receivable | $1.74M | $3.12M | $4.85M | $2.54M | $5.84M | $12.37M | $1.65M | $4.47M | $10.17M | $999K | $1.48M | $408K | $3.63M | $6.55M | $7.9M | $9.68M | $18.7M | $10.28M | $5.25M | $1.46M | $0 |
| Inventory | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $3.53M | $0 | $0 | $0 | $0 | $0 | $0 | $1.11M | $0 | $0 | $477K | $0 | $0 |
| Other Current Assets | $3M | $2.25M | $6.96M | $5.39M | $33K | $34K | $34K | $634K | $3.53M | $808K | $0 | $0 | $0 | $0 | $100K | $1M | $0 | $12M | $16K | $105K | $68.64M |
| Total Current Assets | $278.19M | $137.25M | $209.63M | $192.81M | $204.13M | $230.26M | $39.39M | $39.37M | $23.47M | $222.27M | $17.23M | $19.25M | $14.34M | $19.8M | $19.61M | $23.58M | $24.22M | $46.14M | $58.47M | $71.74M | $70.09M |
| Long-Term Assets | |||||||||||||||||||||
| Property, Plant & Equipment Net | $312K | $413K | $651K | $1.08M | $1.45M | $1.96M | $1.8M | $1.34M | $603K | $121K | $234K | $326K | $386K | $484K | $789K | $1.18M | $6.26M | $5.31M | $6.57M | $0 | $0 |
| Goodwill | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $18.76M | $22.49M | $2.35M | $2.35M | $2.35M | $2.35M | $2.35M | $2.35M | $2.5M | $0 | $0 | $0 |
| Intangible Assets | $0 | $0 | $0 | $12.42M | $12.42M | $12.82M | $12.73M | $13.85M | $38.72M | $14.95M | $17.82M | $0 | $0 | $0 | $0 | $0 | $929K | $925K | $1.31M | $0 | $0 |
| Long-Term Investments | $0 | $0 | $0 | $0 | $0 | $0 | $0 | -$58.5M | -$5.94B | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Deferred Tax Assets | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $58.5M | $5.94B | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Other Long-Term Assets | $1.43M | $1.64M | $363K | $615K | $872K | $73K | $129K | $184K | $239K | $0 | $53K | $53K | $66K | $113K | $53K | $88K | $309K | $1.51M | $252K | $0 | $0 |
| Total Long-Term Assets | $1.74M | $2.05M | $1.01M | $14.12M | $14.74M | $14.86M | $14.66M | $15.38M | $39.56M | $2.47M | $2.64M | $2.73M | $2.8M | $2.95M | $3.19M | $3.62M | $9.85M | $10.25M | $8.14M | $0 | $0 |
| Other Assets | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Total Assets | $279.93M | $139.31M | $210.64M | $206.93M | $218.87M | $245.12M | $54.06M | $54.75M | $63.03M | $224.74M | $19.86M | $21.98M | $17.14M | $22.74M | $22.8M | $27.2M | $34.07M | $56.39M | $66.61M | $71.74M | $70.09M |
| Liabilities | |||||||||||||||||||||
| Current Liabilities | |||||||||||||||||||||
| Accounts Payable | $2.72M | $211K | $2.07M | $4.8M | $2.03M | $612K | $18K | $373K | $129K | $2.01M | $521K | $391K | $1.13M | $1.7M | $1.45M | $3.13M | $1.93M | $3.87M | $1.39M | $839K | $7K |
| Short-Term Debt | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $72K | $50K | $459K | $0 | $746K | $2.09M | $2.08M | $0 | $0 | $0 | $17.38M | $4M | $0 | $0 |
| Current Income Tax Payable | $0 | $0 | $0 | $1.17M | $0 | $0 | $0 | $0 | $0 | $3.16M | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Current Unearned Revenue | $0 | $0 | $0 | $0 | $0 | $20K | $62K | $20K | $20K | $20K | -$538K | $1.2M | $342K | $1.38M | $0 | $0 | $0 | $0 | $2.99M | $592K | $0 |
| Other Current Liabilities | $0 | $0 | $0 | $0 | $6.09M | $8.68M | $0 | $2.81M | $1.9M | $621K | $955K | $1.41M | $2.27M | $2.14M | $2.42M | $2.26M | $10.2M | $13.69M | $2.75M | $13.3M | $163K |
| Total Current Liabilities | $15M | $10.47M | $12.14M | $17.05M | $18.28M | $12.02M | $3.92M | $4.53M | $3.84M | $204.84M | $2.18M | $2.58M | $6.8M | $7.49M | $4.62M | $6.16M | $13.47M | $35.87M | $9M | $1.05M | $411K |
| Long-Term Liabilities | |||||||||||||||||||||
| Long-Term Debt | $34.29M | $0 | $0 | $0 | $0 | $0 | $0 | $501K | $600K | $526K | $0 | $0 | $730K | $1.7M | $0 | $0 | $17.43M | $928K | $16.67M | $0 | $13.58M |
| Long-Term Unearned Revenue | $160K | $0 | $0 | $0 | $0 | $250K | $250K | $1.11M | $160K | $179K | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Long-Term Deferred Tax Liabilities | $0 | $0 | $0 | $0 | $0 | -$250K | $0 | $59K | $5.94M | -$705K | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Other Long-Term Liabilities | $4.45M | $3.93M | $4.22M | $3.91M | $330K | $5.75M | $2.88M | $1.35M | $3.81M | $17K | $1.03M | $1.12M | $2.28M | $1.88M | $2.34M | $8.82M | $1.29M | $627K | $374K | $13.58M | -$13.58M |
| Total Long-Term Liabilities | $40.04M | $5.33M | $4.4M | $4.58M | $1.45M | $7.22M | $4.61M | $1.91M | $10.51M | $443K | $1.03M | $1.12M | $3.01M | $3.58M | $2.34M | $8.82M | $18.71M | $1.55M | $17.04M | $13.58M | $0 |
| Other Liabilities | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Total Liabilities | $55.04M | $15.8M | $16.54M | $21.64M | $19.73M | $19.24M | $8.54M | $6.44M | $14.35M | $205.28M | $3.21M | $3.7M | $9.8M | $11.07M | $6.95M | $14.99M | $32.18M | $37.43M | $26.04M | $14.63M | $411K |
| Stockholders' Equity | |||||||||||||||||||||
| Preferred Stock | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $9.28M | $6K | $327K | $486K | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Common Stock | $11K | $7K | $7K | $5K | $4K | $4K | $2K | $876 | $2K | $7K | $6K | $6K | $5K | $5K | $5K | $5K | $3K | $3K | $2K | $1K | $1K |
| Retained Earnings | -$649.48M | -$561.39M | -$466.33M | -$377.88M | -$293.17M | -$186.42M | -$137.38M | -$116.86M | -$77.68M | -$29.87M | -$223.72M | -$220.28M | -$210.33M | -$198.61M | -$193.69M | -$189.89M | -$156.31M | -$123.82M | -$87.4M | $1.29M | $277K |
| Comprehensive Income & Other | -$4.93M | -$4.97M | -$5M | -$5.23M | -$5.04M | -$5.04M | -$5.02M | -$5.04M | -$4.58M | -$1K | -$1.86M | -$230K | -$219K | -$217K | $1.01M | $1.25M | $1.19M | $386K | $1.48M | $0 | $0 |
| Other Stockholders' Equity | $874.36M | $684.89M | $660.42M | $563.17M | $492.3M | $412.29M | $182.89M | $165.17M | $126.36M | $49.32M | $240.37M | $238.55M | $217.66M | $210.28M | $209.54M | $202.1M | $158.19M | $142.78M | $127.97M | $55.82M | $69.4M |
| Total Equity | $224.89M | $123.51M | $194.1M | $185.29M | $199.13M | $225.88M | $45.52M | $48.31M | $48.68M | $19.46M | $16.65M | $18.27M | $7.34M | $11.67M | $15.85M | $12.21M | $1.88M | $18.96M | $40.57M | $57.11M | $69.68M |
| Minority Interest | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Total Liabilities and Equity | $279.93M | $139.31M | $210.64M | $206.93M | $218.87M | $245.12M | $54.06M | $54.75M | $63.03M | $224.74M | $19.86M | $21.98M | $17.14M | $22.74M | $22.8M | $27.2M | $34.07M | $56.39M | $66.61M | $71.74M | $70.09M |
| Supplementary Data | |||||||||||||||||||||
| Total Debt | $35.69M | $1.68M | $671K | $1.12M | $1.53M | $1.82M | $1.74M | $573K | $50K | $985K | $1.08M | $746K | $2.82M | $3.78M | $0 | $0 | $17.43M | $18.31M | $20.67M | $0 | $0 |
| Net Debt | -$8.07M | -$35.24M | -$134.45M | -$109.97M | -$188.77M | -$114.09M | -$7.22M | -$33.15M | -$8.72M | -$153.01M | -$14.49M | -$17.9M | -$7.66M | -$8.92M | -$11.24M | -$11.79M | $14.75M | -$1.45M | -$19.91M | -$675K | -$1.4M |
Cash Flow Statement
| Period | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 | FY 2015 | FY 2014 | FY 2013 | FY 2012 | FY 2011 | FY 2010 | FY 2009 | FY 2008 | FY 2007 | FY 2006 | FY 2005 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Currency | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD |
| Period Ending | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 | 2020-12-31 | 2019-12-31 | 2018-12-31 | 2017-12-31 | 2016-12-31 | 2015-12-31 | 2014-12-31 | 2013-12-31 | 2012-12-31 | 2011-12-31 | 2010-12-31 | 2009-12-31 | 2008-12-31 | 2007-12-31 | 2006-12-31 | 2005-12-31 |
| Operating Activities | |||||||||||||||||||||
| Net Income | -$88.09M | -$95.06M | -$88.45M | -$84.71M | -$97.09M | -$49.04M | -$20.52M | -$39.17M | -$46.43M | $193.85M | -$3.44M | -$9.96M | -$11.72M | -$4.92M | -$3.8M | -$34.85M | -$32.28M | -$36.42M | -$13.59M | $1.02M | $277K |
| Depreciation & Amortization | $112K | $238K | $477K | $493K | $551K | $429K | $387K | $302K | $139K | $135K | $142K | $150K | $182K | $304K | $461K | $1.02M | $872K | $814K | $655K | $0 | $0 |
| Deferred Income Tax | -$681K | $0 | $0 | $0 | $0 | $0 | -$59K | -$6.15M | -$2.62B | $62K | $62K | $62K | $62K | $196K | $2.98M | $0 | $0 | $0 | $0 | $0 | $0 |
| Stock-Based Compensation | $16.08M | $14.39M | $10.64M | $8.1M | $5.52M | $2.58M | $0 | $773K | $1.44M | $2.24M | $613K | $1.66M | $1.36M | $1.89M | $2.57M | $2.51M | $3.44M | $3.04M | $0 | $0 | $0 |
| Changes in Working Capital: | |||||||||||||||||||||
| Accounts Receivable | $2.06M | $1.74M | -$2.31M | $3.3M | $6.53M | -$10.72M | $2.82M | $344K | -$1.95M | $476K | -$1.07M | $3.22M | $2.92M | $899K | $1.2M | $1.83M | -$4.9M | -$2.2M | -$3.63M | $0 | $0 |
| Inventory | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $5.59M | -$4.12M | $3.27M | -$14.62M | -$2.09M | $1.06M | -$51K | -$13.58M | -$21.73M | -$9.38M | -$6.42M | $3.22M | $0 | $0 |
| Accounts Payable | $2.51M | -$1.86M | -$2.73M | $2.77M | $1.42M | $594K | -$355K | $243K | -$2.62M | $405K | $130K | -$737K | -$569K | $252K | -$1.68M | $1.25M | -$1.94M | -$61K | $564K | $0 | $0 |
| Other Working Capital | $2.19M | $4.6M | -$3.23M | $8.04M | -$8.21M | $5.62M | -$647K | $799K | -$2.61M | $53K | $15.05M | -$342K | -$1.04M | $867K | $15M | $17.42M | $10.75M | $10.27M | $25K | $512K | $277K |
| Total Working Capital Change | $6.75M | $4.48M | -$8.27M | $14.11M | -$251K | -$4.51M | $1.82M | $6.98M | -$11.31M | $4.2M | -$505K | $45K | $2.37M | $1.97M | $929K | -$1.23M | -$5.46M | $1.59M | $181K | $512K | $277K |
| Other Non-Cash Items | -$1.7M | -$3.9M | $9.79M | -$578K | $13.03M | $16.25M | $8.77M | $27.88M | $2.65B | $1.02M | -$86K | -$431K | $576K | -$1.76M | -$10.94M | $17.68M | $5.28M | $17.77M | -$886K | $0 | $0 |
| Net Cash from Operating | -$67.53M | -$79.85M | -$75.81M | -$62.59M | -$78.24M | -$34.31M | -$9.6M | -$9.39M | -$20.21M | $201.51M | -$3.22M | -$8.47M | -$7.17M | -$2.32M | -$7.81M | -$14.86M | -$28.15M | -$13.2M | -$13.64M | $1.53M | $554K |
| Investing Activities | |||||||||||||||||||||
| Capital Expenditures | -$11K | $0 | -$47K | -$126K | -$12.12M | -$204K | -$29K | -$1.02M | -$166K | -$31K | -$87K | -$92K | -$85K | $0 | -$71K | -$375K | -$1.03M | -$509K | -$882K | $0 | $0 |
| Acquisitions | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $14K | $13.68M | $0 | $8K | $0 | $0 | $0 | $0 | $0 | -$7M | -$11.56M | $0 | $0 | $0 |
| Purchases of Investments | -$285.45M | -$115.73M | -$88.63M | -$73.27M | -$7.59M | -$128.29M | -$28.26M | $0 | $0 | -$66.85M | $0 | $0 | $0 | $0 | $0 | $0 | -$8.41M | -$17.17M | -$12.05M | $0 | $0 |
| Sales of Investments | $152.99M | $87.34M | $102.41M | $0 | $107.43M | $56.41M | $0 | $0 | $200K | $0 | $0 | $0 | $0 | $0 | $0 | $3.13M | $8.45M | $26.13M | $0 | $0 | $0 |
| Other Investing Activities | $0 | $0 | $0 | $0 | -$195K | -$138K | $0 | $14K | $208K | $687 | $8K | $8K | $4K | $67K | $1.76M | $0 | $0 | -$7M | $0 | -$2.25M | -$68.64M |
| Net Cash from Investing | -$132.47M | -$28.39M | $13.73M | -$73.4M | $87.52M | -$72.23M | -$28.29M | -$1M | $13.73M | -$66.88M | -$79K | -$84K | -$81K | $67K | $1.69M | $2.76M | -$7.99M | -$10.1M | -$12.94M | -$2.25M | -$68.64M |
| Financing Activities | |||||||||||||||||||||
| Debt Repaid | -$33.92M | - | - | - | - | - | - | $1.55M | -$2.81M | $81K | $323K | $2.09M | $750K | -$2.5M | - | $11K | -$990K | $4M | -$8.71M | -$11.77M | - |
| Common Stock Issuance | $173.73M | $9.99M | $86.6M | $56.35M | $65.04M | $172.32M | $12.7M | $37.43M | $13.02B | $1K | $973K | $18.14M | $6.02M | $39K | $5.86M | $21.6M | $4.95M | $12.66M | $0 | $246K | $75.23M |
| Common Stock Repurchases | $0 | $0 | $0 | $0 | $0 | $0 | $0 | -$2.39M | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $57.91M | $0 | -$5.75M |
| Dividends Paid | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Other Financing Activities | -$709K | $50K | -$496K | $434K | $58K | $41.17M | $125K | -$977K | $16K | -$612K | $0 | $683K | $0 | -$149K | -$74K | -$100K | $12.85M | -$6.25M | -$4.69M | $0 | $0 |
| Net Cash from Financing | $206.84M | $10.04M | $86.11M | $56.78M | $65.1M | $213.49M | $12.53M | $32.49M | $15.84M | $3.8M | $223K | $16.73M | $5.03M | $3.72M | $5.78M | $21.46M | $18.79M | $2.41M | $61.93M | $0 | $69.48M |
| Forex Effect | $0 | $0 | $0 | $0 | $0 | $0 | $0 | -$50K | $74K | -$6K | -$2K | -$13K | -$1K | $181 | -$209K | -$240K | $263K | $60K | $117K | $0 | $0 |
| Net Change in Cash | $6.83M | -$98.19M | $24.03M | -$79.2M | $74.38M | $106.96M | -$25.36M | $22.05M | $9.43M | $138.43M | -$3.07M | $8.16M | -$2.22M | $1.46M | -$549K | $9.11M | -$17.08M | -$20.83M | $35.47M | -$723K | $1.4M |
| Supplementary Data | |||||||||||||||||||||
| Operating Cash Flow | -$67.53M | -$79.85M | -$75.81M | -$62.59M | -$78.24M | -$34.31M | -$9.6M | -$9.39M | -$20.21M | $201.51M | -$3.22M | -$8.47M | -$7.17M | -$2.32M | -$7.81M | -$14.86M | -$28.15M | -$13.2M | -$13.64M | $1.53M | $554K |
| Capital Expenditure | -$11K | $0 | -$47K | -$126K | -$12.31M | -$342K | -$1K | -$1.02M | -$166K | -$31K | -$87K | -$92K | -$85K | $0 | -$71K | -$375K | -$1.03M | -$509K | -$882K | $0 | $0 |
| Free Cash Flow | -$67.55M | -$79.85M | -$75.86M | -$62.71M | -$90.55M | -$34.65M | -$9.6M | -$10.4M | -$20.38M | $201.48M | -$3.3M | -$8.57M | -$7.25M | -$2.32M | -$7.88M | -$15.24M | -$29.18M | -$13.71M | -$14.52M | $1.53M | $554K |
| Cash at Beginning | $36.97M | $135.16M | $111.13M | $190.34M | $115.95M | $9M | $34.35M | $12.3M | $2.88M | $15.57M | $18.64M | $10.48M | $12.7M | $11.24M | $11.79M | $2.67M | $19.75M | $40.58M | $5.11M | $1.4M | $0 |
| Cash at End | $43.8M | $36.97M | $135.16M | $111.13M | $190.34M | $115.95M | $9M | $34.35M | $12.3M | $153.99M | $15.57M | $18.64M | $10.48M | $12.7M | $11.24M | $11.79M | $2.67M | $19.75M | $40.58M | $675K | $1.4M |