IRONWOOD PHARMACEUTICALS INC (IRWD)
Ironwood Pharmaceuticals, Inc. operates as a healthcare enterprise primarily dedicated to discovering, developing, and commercializing therapeutic solutions for gastrointestinal (GI) conditions. Its flagship commercial product is linaclotide, a guanylate cyclase type-C (GC-C) agonist. This medication is prescribed for adult patients managing irritable bowel syndrome with constipation (IBS-C) or chronic idiopathic constipation (CIC), sold as LINZESS in the United States and Mexico, and under the CONSTELLA brand throughout Canada and the European Union. Beyond its marketed offerings, Ironwood's development pipeline includes IW-3300, another GC-C agonist targeting various visceral pain conditions, such as interstitial cystitis/bladder pain syndrome and endometriosis. Additionally, the company is advancing CNP-104, an immune nanoparticle being investigated for biliary cholangitis. Ironwood maintains key strategic alliances with AbbVie Inc., AstraZeneca AB, and Astellas Pharma Inc. to support the ongoing development and market introduction of linaclotide. Established in 1998, the Boston, Massachusetts-based firm initially operated as Microbia, Inc. before officially rebranding to Ironwood Pharmaceuticals, Inc. in April 2008.
Sector: Pharmaceutical Preparations
Industry: Drug Manufacturers - Specialty & Generic
Ironwood Pharmaceuticals, Inc.
NASDAQ:IRWDHealthcare · Drug Manufacturers - Specialty & Generic
-3.31%$3.50
AH$3.51+0.29%vs close
Mkt Cap$578.34M
Float150.04M
O/S165.24M
Vol
$ Vol
RVOL
Inst Own97.0%
SI10.6%
Earnings
Dilution
Financials Summary
Revenue$296.15M
Net Income$24.02M
Total Assets$396.9M
Free Cash Flow$127.01M
Debt & Equity
Debt 178%
Total Debt$597.8M
Total Equity-$261.83M
Shares Outstanding
Short Interest
Split History
No splits on record
Nothing in IRWD's public trading history: no forward or reverse split has affected the share count.
Balance Sheet Details
Assets$396.9M
Liabilities$658.74M
Accounts Receivable$46.74M
Accounts Payable$2.9M
Inventory$0
PP&E (Net)$12.75M
Goodwill$0
Intangible Assets$2.04M
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 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Currency | 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 |
| Revenue | $296.15M | $351.41M | $442.74M | $410.6M | $413.75M | $389.52M | $428.41M | $346.64M | $298.28M | $273.96M | $149.56M | $76.44M | $22.88M | $150.25M | $65.87M | $43.86M | $36.1M | $22.22M | $10.46M | $3.14M |
| YoY Growth | -15.7% | -20.6% | 7.8% | -0.8% | 6.2% | -9.1% | 23.6% | 16.2% | 8.9% | 83.2% | 95.7% | 234.1% | -84.8% | 128.1% | 50.2% | 21.5% | 62.5% | 112.3% | 233.2% | - |
| Cost of Revenue | $0 | $7.55M | $6.15M | $1.42M | $70.41M | $3.14M | $135.39M | $32.75M | $19.41M | $1.87M | $12K | $25.58M | $7.2M | $965K | $0 | $0 | $0 | $0 | $0 | $3.14M |
| Gross Profit | $296.15M | $343.86M | $436.59M | $409.18M | $343.35M | $386.39M | $293.02M | $313.89M | $278.87M | $272.09M | $149.54M | $50.85M | $15.68M | $149.28M | $65.87M | $43.86M | $36.1M | $22.22M | $10.46M | $0 |
| Gross Margin | 100.0% | 97.9% | 98.6% | 99.7% | 83.0% | 99.2% | 68.4% | 90.6% | 93.5% | 99.3% | 100.0% | 66.5% | 68.5% | 99.4% | 100.0% | 100.0% | 100.0% | 100.0% | 100.0% | - |
| Research and Development | $95.14M | $111.42M | $116.08M | $44.27M | $70.41M | $88.06M | $122.24M | $166.5M | $148.23M | $139.49M | $108.75M | $101.89M | $102.38M | $113.47M | $86.09M | $77.45M | $84.89M | $59.81M | $57.25M | $35.54M |
| Selling, General, and Administrative | $82.26M | $0 | $0 | $115.99M | $0 | $140M | $0 | $241.29M | $233.12M | $173.28M | $125.25M | $118.33M | $123.23M | $92.54M | $45.92M | $27.17M | $23.98M | $18.33M | $10.83M | $5.93M |
| Other | $0 | $139.31M | $1.27B | -$1.42M | $40.68M | $15.38M | $50.66M | $8.11M | $6.21M | $981K | $0 | $661K | $42.07M | $16.03M | $0 | $0 | $0 | $0 | $0 | $0 |
| Total Operating Expenses | $177.39M | $250.73M | $1.38B | $158.84M | $111.09M | $243.45M | $172.9M | $415.9M | $387.56M | $313.75M | $233.99M | $220.22M | $267.68M | $222.04M | $132.01M | $104.62M | $108.87M | $78.14M | $68.08M | $41.48M |
| Operating Income (EBIT) | $118.76M | $93.12M | -$945.43M | $250.34M | $232.26M | $142.94M | $120.12M | -$238.89M | -$77.39M | -$51.87M | -$102.09M | -$169.37M | -$252M | -$72.76M | -$66.14M | -$60.77M | -$72.77M | -$55.92M | -$57.62M | -$39.59M |
| Operating Margin | 40.1% | 26.5% | -213.5% | 61.0% | 56.1% | 36.7% | 28.0% | -68.9% | -25.9% | -18.9% | -68.3% | -221.6% | -1101.4% | -48.4% | -100.4% | -138.6% | -201.6% | -251.7% | -550.6% | -1261.0% |
| Interest Expense | $32.75M | $33.03M | $21.63M | $7.6M | $31.15M | $29.48M | $36.6M | $37.72M | $36.37M | $39.15M | $31.1M | $21.17M | $21M | $59K | $63K | $196K | $474K | $334K | $263K | $217K |
| Interest Income | $4.08M | $4.47M | $18.97M | $9.5M | $726K | $1.5M | $2.86M | $2.99M | $2.11M | $1.17M | $443K | $257K | $192K | $197K | $456K | $614K | $243K | $2.12M | $4.12M | $2.53M |
| Other Income (Expense) | -$48.73M | -$27.93M | -$2.64M | $2.08M | -$31.6M | -$34.08M | -$61.18M | -$43.48M | -$71.16M | -$29.84M | -$40.58M | -$20.25M | -$20.81M | $138K | $1.29M | $1.41M | -$838K | $890K | $4.46M | $2.32M |
| Income Before Tax (EBT) | $70.03M | $65.2M | -$948.07M | $252.42M | $200.66M | $108.86M | $58.94M | -$282.37M | -$116.94M | -$81.71M | -$142.67M | -$189.62M | -$272.81M | -$72.62M | -$64.85M | -$59.35M | -$73.61M | -$55.03M | -$53.16M | -$37.28M |
| Income Tax Expense | $46.01M | $64.32M | $83.49M | $77.36M | -$327.79M | $2.69M | $0 | -$5.75M | $34.26M | $0 | $0 | $0 | $0 | $0 | $3K | -$2.94M | -$296K | $0 | -$145K | $0 |
| Net Income | $24.02M | $880K | -$1B | $175.06M | $528.45M | $106.18M | $21.5M | -$282.37M | -$116.94M | -$81.71M | -$142.67M | -$189.62M | -$272.81M | -$72.62M | -$64.85M | -$52.98M | -$71.19M | -$53.87M | -$52.75M | -$37.18M |
| Net Income Margin | 8.1% | 0.3% | -226.4% | 42.6% | 127.7% | 27.3% | 5.0% | -81.5% | -39.2% | -29.8% | -95.4% | -248.1% | -1192.3% | -48.3% | -98.5% | -120.8% | -197.2% | -242.5% | -504.1% | -1184.1% |
| Supplementary Data | ||||||||||||||||||||
| EPS | 0.15 | 0.01 | -6.45 | 1.13 | 3.26 | 0.67 | 0.38 | -1.85 | -0.79 | -0.56 | -1.00 | -1.39 | -2.35 | -0.68 | -0.65 | -0.59 | -10.00 | -7.82 | -7.41 | -5.22 |
| Diluted EPS | 0.15 | 0.01 | -6.45 | 0.96 | 3.21 | 0.66 | 0.38 | -1.85 | -0.78 | -0.56 | -1.00 | -1.39 | -2.35 | -0.68 | -0.65 | -0.59 | -1.02 | -0.77 | -0.70 | -0.39 |
| Weighted Average OS | 162.22M | 159.08M | 155.44M | 154.37M | 162.25M | 159.43M | 156.02M | 152.63M | 148.42M | 144.93M | 142.16M | 136.81M | 115.85M | 106.40M | 99.88M | 89.65M | 7.12M | 6.89M | 7.12M | 7.12M |
| EBITDA | $104.65M | $97.73M | $197.41M | $261.44M | $233.72M | $141.9M | $128.55M | -$144.45M | -$33.12M | -$31.3M | -$99.94M | -$156.12M | -$240.08M | -$61.24M | -$54.79M | -$53M | -$67.28M | -$51.85M | -$51.17M | -$35.8M |
| EBITDA Margin | 35.3% | 27.8% | 44.6% | 63.7% | 56.5% | 36.4% | 30.0% | -41.7% | -11.1% | -11.4% | -66.8% | -204.3% | -1049.3% | -40.8% | -83.2% | -120.8% | -186.4% | -233.4% | -489.0% | -1140.2% |
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 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Currency | 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 |
| Assets | |||||||||||||||||||
| Current Assets | |||||||||||||||||||
| Cash and Cash Equivalents | $215.46M | $88.56M | $92.15M | $656.2M | $620.13M | $364.3M | $177.02M | $173.17M | $125.74M | $54M | $261.29M | $74.3M | $75.49M | $136.7M | $87.28M | $44.32M | $123.14M | $67.72M | $62.43M |
| Short-Term Investments | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $95.68M | $251.21M | $178.11M | $174.04M | $122.11M | $31.53M | $76.73M | $203.71M | $0 | $22.05M | $29.51M |
| Cash and Short-Term Investments | $215.46M | $88.56M | $92.15M | $656.2M | $620.13M | $364.3M | $177.02M | $173.17M | $221.42M | $305.22M | $439.39M | $248.33M | $197.6M | $168.23M | $164.02M | $248.03M | $123.14M | $89.77M | $91.94M |
| Accounts Receivable | $46.74M | $81.89M | $129.12M | $115.46M | $114.04M | $122.35M | $117.25M | $80.95M | $82.16M | $64.85M | $54.52M | $25.84M | $3.21M | $1.49M | $652K | $2.9M | $5.22M | $7.12M | $25.51M |
| Inventory | $0 | $0 | $0 | $1.25M | $0 | $0 | $648K | $0 | $735K | $1.08M | $0 | $4.95M | $22.14M | $6.7M | $0 | -$239.87M | $0 | $2.5M | $0 |
| Other Current Assets | $11.98M | $11.92M | $0 | $0 | $2.37M | $9.19M | $1.25M | $2.1M | $0 | $0 | $0 | $1.42M | $0 | $0 | $0 | $2.83M | $3.07M | $8.7M | $0 |
| Total Current Assets | $274.18M | $182.37M | $233.29M | $780.63M | $745.23M | $495.84M | $306.85M | $266.44M | $311.6M | $380.18M | $500.2M | $289.73M | $229.13M | $184.44M | $167.57M | $259.07M | $131.45M | $108.09M | $119.17M |
| Long-Term Assets | |||||||||||||||||||
| Property, Plant & Equipment Net | $12.75M | $15.52M | $18.17M | $20.31M | $22.93M | $25.5M | $30.17M | $17.27M | $17.27M | $20.51M | $21.07M | $29.83M | $37.38M | $37.54M | $33.63M | $34.37M | $22.55M | $24.6M | $4.15M |
| Goodwill | $0 | $0 | $0 | $0 | $0 | $0 | $785K | $785K | $785K | $785K | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Intangible Assets | $2.04M | $2.86M | $3.68M | $0 | $0 | $0 | $0 | $0 | $159.91M | $166.12M | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Long-Term Investments | $0 | $0 | $0 | $15.07M | $0 | $36.95M | $0 | $47.45M | $115.24M | $140.77M | $95.21M | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Deferred Tax Assets | $103.43M | $144.23M | $212.32M | $283.66M | $333.29M | $0 | $0 | -$47.45M | -$115.24M | -$140.77M | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Other Long-Term Assets | $4.5M | $5.92M | $3.61M | $847K | $25.48M | $943K | $64.94M | $47.56M | $116.11M | $142.22M | $2.63M | $13.96M | $12.46M | $7.93M | $7.79M | $7.92M | $8.45M | $8.04M | $12.59M |
| Total Long-Term Assets | $122.72M | $168.54M | $237.78M | $319.89M | $381.7M | $63.4M | $95.9M | $65.61M | $294.08M | $329.64M | $118.92M | $43.78M | $49.83M | $45.47M | $41.41M | $42.29M | $31M | $32.64M | $16.73M |
| Other Assets | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Total Assets | $396.9M | $350.91M | $471.07M | $1.1B | $1.13B | $559.24M | $402.75M | $332.05M | $605.67M | $709.82M | $619.12M | $333.51M | $278.96M | $229.91M | $208.98M | $301.37M | $162.45M | $140.72M | $135.91M |
| Liabilities | |||||||||||||||||||
| Current Liabilities | |||||||||||||||||||
| Accounts Payable | $2.9M | $2.13M | $7.83M | $483K | $935K | $661K | $5.49M | $14.89M | $15.96M | $17.7M | $8.59M | $9.76M | $10.19M | $21.73M | $6.44M | $4.3M | $4.75M | $3.73M | $5.58M |
| Short-Term Debt | $199.68M | $0 | $199.56M | $0 | $116.86M | $3.13M | $0 | $47.55M | $0 | $0 | $27.59M | $12.41M | $0 | $0 | $0 | $0 | $1.45M | $943K | $1.01M |
| Current Income Tax Payable | $0 | $521K | $1.24M | $656K | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Current Unearned Revenue | $1.11M | $2.03M | $2.62M | $0 | $0 | $0 | $875K | $252K | $195K | $7.72M | $7.19M | $7.19M | $5.07M | $3.38M | $36.29M | $42.85M | $32.74M | $18.01M | $15.82M |
| Other Current Liabilities | $21M | $4.98M | $26.13M | $15.88M | $7.49M | $14.97M | $14.89M | $42M | $27.11M | $41.05M | $5.02M | $8.45M | $6.06M | $8.28M | $14.65M | $0 | $15.33M | $28.65M | $0 |
| Total Current Liabilities | $242.22M | $38.85M | $276.1M | $25.52M | $161.7M | $32.17M | $40.93M | $119.52M | $66.03M | $91.13M | $76.47M | $60.54M | $41.04M | $54.94M | $65.13M | $64.43M | $56.44M | $39.15M | $29.93M |
| Long-Term Liabilities | |||||||||||||||||||
| Long-Term Debt | $385M | $583.99M | $498.31M | $396.25M | $337.33M | $430.26M | $407.99M | $366.14M | $396.09M | $366.57M | $353.89M | $160.72M | $174.67M | $0 | $0 | $0 | $1.76M | $872K | $1.96M |
| Long-Term Unearned Revenue | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $1.8M | $8.99M | $11.42M | $18.02M | $21.13M | $77M | $104.13M | $48.21M | $58.59M |
| Long-Term Deferred Tax Liabilities | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $81.72M | -$2.57M | $8.82M | $11.59M | -$422K | -$14.61M | -$112K | -$189K | $0 |
| Other Long-Term Liabilities | $21.65M | $17.11M | $28.41M | $9.77M | $3.5M | $13.85M | $24.99M | $42.6M | $133.71M | $185.32M | $91.54M | $12.14M | $10.47M | $12.59M | $12.44M | $14.61M | $308.84M | $273.4M | $223.8M |
| Total Long-Term Liabilities | $416.52M | $613.4M | $541.27M | $422.62M | $359.32M | $464.43M | $455.07M | $408.9M | $529.8M | $551.97M | $447.53M | $184.42M | $199.7M | $30.92M | $33.99M | $77.39M | $404.35M | $331.98M | $284.35M |
| Other Liabilities | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Total Liabilities | $658.74M | $652.24M | $817.37M | $448.14M | $521.02M | $496.6M | $496M | $528.42M | $595.83M | $643.11M | $524M | $244.96M | $240.74M | $85.86M | $99.12M | $141.81M | $460.79M | $371.13M | $314.28M |
| Stockholders' Equity | |||||||||||||||||||
| Preferred Stock | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $298.35M | $0 | $0 |
| Common Stock | $163K | $160K | $156K | $154K | $162K | $161K | $158K | $154K | $151K | $148K | $143K | $141K | $121K | $108K | $101K | $99K | $8K | $7K | $7K |
| Retained Earnings | -$1.67B | -$1.7B | -$1.7B | -$696.38M | -$937.61M | -$1.47B | -$1.57B | -$1.59B | -$1.31B | -$1.19B | -$1.11B | -$967.45M | -$777.83M | -$505.02M | -$432.39M | -$367.54M | -$314.56M | -$243.37M | -$189.5M |
| Comprehensive Income & Other | -$1.06M | $923K | -$3.03M | $0 | -$0 | $0 | -$10.08M | $0 | -$79K | -$7K | -$86K | -$19K | $2K | $5K | $6K | $1K | -$298.35M | $23K | $3K |
| Other Stockholders' Equity | $1.41B | $1.4B | $1.35B | $1.35B | $1.54B | $1.53B | $1.48B | $1.39B | $1.32B | $1.26B | $1.21B | $1.06B | $815.93M | $648.96M | $542.15M | $526.99M | $13M | $7.62M | $4.62M |
| Total Equity | -$261.83M | -$301.33M | -$346.3M | $652.38M | $605.91M | $62.64M | -$93.25M | -$196.37M | $9.85M | $66.72M | $95.13M | $88.55M | $38.23M | $144.05M | $109.86M | $159.55M | -$301.55M | -$235.75M | -$184.87M |
| Minority Interest | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $3.21M | $5.34M | $6.5M |
| Total Liabilities and Equity | $396.9M | $350.91M | $471.07M | $1.1B | $1.13B | $559.24M | $402.75M | $332.05M | $605.67M | $709.82M | $619.12M | $333.51M | $278.96M | $229.91M | $208.98M | $301.37M | $159.24M | $135.38M | $129.41M |
| Supplementary Data | |||||||||||||||||||
| Total Debt | $597.8M | $599.48M | $715.54M | $415.92M | $475.8M | $453.7M | $431.22M | $413.92M | $400.17M | $372.88M | $381.49M | $177.32M | $178.94M | $569K | $655K | $590K | $3.33M | $2.12M | $2.96M |
| Net Debt | $382.35M | $510.92M | $623.38M | -$240.29M | -$144.33M | $89.4M | $254.2M | $240.75M | $274.43M | $318.88M | $120.2M | $103.02M | $103.45M | -$136.13M | -$86.63M | -$43.73M | -$119.82M | -$65.6M | -$59.46M |
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 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Currency | 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 |
| Operating Activities | ||||||||||||||||||||
| Net Income | $24.02M | $880K | -$1B | $175.06M | $528.45M | $106.18M | $21.5M | -$282.37M | -$116.94M | -$81.71M | -$142.67M | -$189.62M | -$272.81M | -$72.62M | -$64.85M | -$56.41M | -$73.31M | -$55.03M | -$53.16M | -$37.18M |
| Depreciation & Amortization | $1.88M | $2.01M | $1.57M | $1.42M | $1.5M | $3.56M | $5.58M | $11.97M | $14.62M | $11.26M | $11.63M | $12.33M | $11.73M | $11.32M | $10M | $6.16M | $5.25M | $2.85M | $1.73M | $1.26M |
| Deferred Income Tax | $40.8M | $68.09M | $72.64M | $65.74M | -$333.29M | $6.6M | $0 | $159.11M | $7.53M | -$7.31M | $28.48M | $21.5M | $1.86M | $0 | $7K | -$5.5M | $970K | -$1K | -$1K | $0 |
| Stock-Based Compensation | $17.25M | $29.85M | $32.01M | $27.05M | $22.28M | $31.18M | $31.28M | $43.98M | $33.82M | $29.22M | $25.47M | $26.18M | $19.83M | $17.57M | $11.73M | $7.5M | $5.24M | $2.79M | $1.15M | $0 |
| Changes in Working Capital: | ||||||||||||||||||||
| Accounts Receivable | $35.15M | $47.24M | $924K | $7.99M | $7.71M | $4.09M | -$68.89M | $1.21M | -$17.3M | -$10.34M | -$28.68M | -$23.68M | -$1.73M | -$835K | $2.24M | $2.32M | -$465K | $18.39M | -$24.28M | -$697K |
| Inventory | $0 | $0 | $0 | $0 | $0 | $648K | $0 | -$806K | $346K | $1.27M | $3.65M | -$3.08M | -$11.91M | -$6.7M | $1.29M | -$9.26M | $1.71M | $0 | $0 | $0 |
| Accounts Payable | $6.2M | -$20.21M | $12.38M | -$8.12M | -$2.64M | -$7.52M | -$32.7M | $8.06M | -$6.84M | $19.68M | -$1.55M | $1.43M | -$11.72M | $24.24M | $5.09M | $2.74M | $1.57M | $0 | $0 | -$178K |
| Other Working Capital | -$1.7M | -$26.29M | -$2.02M | $2.94M | $12.66M | $1.84M | $1.6M | -$842K | $2.01M | -$15.63M | -$11.66M | -$4.77M | -$10.32M | -$43.79M | -$42.98M | -$17.08M | $55.39M | $2.27M | $69.52M | $3.02M |
| Total Working Capital Change | $39.65M | $739K | $11.28M | $2.82M | $17.73M | -$941K | -$99.99M | $7.62M | -$21.79M | -$5.02M | -$38.24M | -$30.1M | -$35.68M | -$27.08M | -$34.36M | -$21.27M | $58.21M | $20.66M | $45.24M | $2.14M |
| Other Non-Cash Items | $3.44M | $1.98M | $1.07B | $1.67M | $25.23M | $22.26M | $52.35M | -$11.19M | -$16.81M | $28.12M | $8.4M | $4.14M | $1.72M | $1.18M | $2.23M | $1.62M | -$360K | $532K | -$1.72M | $249K |
| Net Cash from Operating | $127.04M | $103.55M | $183.43M | $273.76M | $261.89M | $168.84M | $10.72M | -$70.88M | -$99.56M | -$25.43M | -$106.93M | -$155.57M | -$273.36M | -$69.63M | -$75.24M | -$67.9M | -$4M | -$28.2M | -$6.76M | -$33.53M |
| Investing Activities | ||||||||||||||||||||
| Capital Expenditures | -$34K | -$142K | -$273K | -$136K | -$265K | -$1.84M | -$7.19M | -$8.62M | -$4.21M | -$104.21M | -$4.05M | -$3.54M | -$9.59M | -$13.98M | -$9.68M | -$17.22M | -$4.04M | -$22.93M | -$2.65M | -$2.82M |
| Acquisitions | $0 | $0 | -$1.03B | $0 | $0 | $0 | $0 | $1.56M | $135K | $100M | $147K | $0 | $0 | $0 | $0 | $9.5M | $0 | $0 | $0 | $1K |
| Purchases of Investments | $0 | $0 | $0 | $0 | $0 | $0 | $0 | -$3.24M | -$191.35M | -$311.12M | -$281.96M | -$254M | -$287.94M | -$96.71M | -$97.51M | -$441.8M | -$26.67M | -$82.61M | -$87.84M | -$36.99M |
| Sales of Investments | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $99.17M | $346.89M | $237.42M | $276.71M | $200.96M | $196.1M | $140.76M | $222.25M | $236.47M | $48.45M | $90.47M | $62.88M | $34.2M |
| Other Investing Activities | $0 | $0 | $0 | $0 | $0 | $0 | -$3.96M | $1.56M | $135K | -$99.78M | $147K | -$53.03M | -$91.84M | $9K | $4K | $2K | $21K | $9K | $1K | $0 |
| Net Cash from Investing | -$34K | -$142K | -$1.03B | -$136K | -$265K | -$1.84M | -$11.14M | $88.87M | $151.46M | -$177.67M | -$9.15M | -$56.57M | -$101.43M | $30.08M | $115.06M | -$213.04M | $17.76M | -$15.07M | -$27.61M | -$5.62M |
| Financing Activities | ||||||||||||||||||||
| Debt Repaid | - | $115M | -$300M | $120.7M | - | - | -$19.43M | $1.82M | -$8.76M | $28.77M | -$321.67M | $2.23M | -$174.23M | $275K | $260K | $1.96M | -$1.14M | $1.22M | -$720K | $1.94M |
| Common Stock Issuance | $216K | $11.01M | $6.36M | $0 | $0 | $18.55M | $0 | $32.06M | $26.37M | $24.84M | $14.2M | $190.43M | $137.77M | $85.23M | $0 | $203.17M | $40.25M | $0 | $0 | $75.03M |
| Common Stock Repurchases | $0 | $0 | $0 | -$126.39M | -$24.13M | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Dividends Paid | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Other Financing Activities | $0 | -$2.98M | -$29.2M | $9.54M | $19.58M | $0 | -$20.61M | $31.9M | $11.08M | $24.59M | -$18.6M | $22.74M | $1.58M | $4.02M | $3.39M | $1.75M | $272K | $180K | $47K | $7M |
| Net Cash from Financing | $216K | -$106.97M | $277.16M | -$237.55M | -$4.55M | $18.55M | -$1.19M | $30.07M | $19.84M | -$4.18M | $303.07M | $210.94M | $313.58M | $88.97M | $3.13M | $202.96M | $41.66M | $48.56M | $50.72M | $80.09M |
| Forex Effect | -$329K | -$32K | -$53K | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Net Change in Cash | $126.9M | -$3.6M | -$565.78M | $36.07M | $257.08M | $185.54M | -$1.6M | $48.06M | $71.73M | -$207.28M | $186.99M | -$1.19M | -$61.21M | $49.42M | $42.96M | -$77.98M | $55.42M | $5.29M | $16.35M | $0 |
| Supplementary Data | ||||||||||||||||||||
| Operating Cash Flow | $127.04M | $103.55M | $183.43M | $273.76M | $261.89M | $168.84M | $10.72M | -$70.88M | -$99.56M | -$25.43M | -$106.93M | -$155.57M | -$273.36M | -$69.63M | -$75.24M | -$67.9M | -$4M | -$28.2M | -$6.76M | -$33.53M |
| Capital Expenditure | -$34K | -$142K | -$273K | -$136K | -$265K | -$1.84M | -$7.19M | -$8.62M | -$4.21M | -$104.21M | -$4.05M | -$3.54M | -$9.59M | -$13.98M | -$9.68M | -$17.22M | -$4.04M | -$22.93M | -$2.65M | -$2.82M |
| Free Cash Flow | $127.01M | $103.41M | $183.15M | $273.63M | $261.63M | $166.99M | $3.54M | -$79.5M | -$103.77M | -$129.64M | -$110.98M | -$159.11M | -$282.95M | -$83.61M | -$84.92M | -$85.12M | -$8.04M | -$51.13M | -$9.41M | -$36.35M |
| Cash at Beginning | $88.56M | $92.15M | $657.94M | $621.86M | $364.78M | $179.24M | $180.85M | $132.79M | $54M | $261.29M | $74.3M | $75.49M | $136.7M | $87.28M | $44.32M | $122.31M | $67.72M | $62.43M | $46.08M | $0 |
| Cash at End | $215.46M | $88.56M | $92.15M | $657.94M | $621.86M | $364.78M | $179.24M | $180.85M | $125.74M | $54M | $261.29M | $74.3M | $75.49M | $136.7M | $87.28M | $44.32M | $123.14M | $67.72M | $62.43M | $0 |