TALPHERA, INC. (TLPH)
Talphera, Inc. is a specialty pharmaceutical company focused on developing and commercializing therapeutic products intended for use in carefully monitored medical environments. Their lead experimental candidate is Niyad, a lyophilized (freeze-dried) formulation of nafamostat. This anticoagulant is currently being assessed under an investigational device exemption for its application in extracorporeal circuits. The company's development pipeline also features LTX-608, a potential anti-inflammatory and antiviral agent being explored for the treatment of numerous conditions, including COVID-19, disseminated intravascular coagulation (DIC), acute respiratory distress syndrome (ARDS), and acute pancreatitis. Furthermore, Talphera is advancing Fedsyra, a pre-filled syringe containing ephedrine, and PFS-02, a pre-filled syringe containing phenylephrine. Established in 2005, the company was previously known as AcelRx Pharmaceuticals, Inc. It adopted the name Talphera, Inc. in January 2024 and maintains its corporate headquarters in San Mateo, California.
Sector: Pharmaceutical Preparations
Industry: Drug Manufacturers - Specialty & Generic
Talphera, Inc.
NASDAQ:TLPHHealthcare · Drug Manufacturers - Specialty & Generic
-3.74%$1.03
AH$1.04+0.97%vs close
Mkt Cap$53.46M
Float38.58M
O/S51.91M
Vol
$ Vol
RVOL
Inst Own46.0%
SI2.8%
Earnings
Dilution
Financials Summary
Revenue$28K
Net Income-$14.29M
Total Assets$29.72M
Free Cash Flow-$11.36M
Debt & Equity
Debt 28%
Equity 72%
Total Debt$6.5M
Total Equity$17.04M
Shares Outstanding
Short Interest
Split History
No splits on record
Nothing in TLPH's public trading history: no forward or reverse split has affected the share count.
Balance Sheet Details
Assets$29.72M
Liabilities$12.68M
Accounts Receivable$0
Accounts Payable$544K
Inventory$0
PP&E (Net)$0
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 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 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 |
| Revenue | $28K | $0 | $651K | $0 | $378K | $5.42M | $2.29M | $2.15M | $8M | $17.36M | $19.26M | $5.22M | $29.5M | $2.39M | $1.07M | $0 | $0 | $0 | $0 |
| YoY Growth | - | - | - | - | -93.0% | 136.6% | 6.4% | -73.1% | -53.9% | -9.9% | 269.2% | -82.3% | 1132.3% | 123.3% | - | - | - | - | - |
| Cost of Revenue | $0 | $6.72M | $5.55M | $1.65M | $3.01M | $6.03M | $6.81M | $3.98M | $10.66M | $12.31M | $24.26M | $24.52M | $26.29M | $605K | $0 | $479K | $481K | $383K | $216K |
| Gross Profit | $28K | -$6.72M | -$4.89M | -$1.65M | -$2.63M | -$616K | -$4.52M | -$1.82M | -$2.66M | $5.04M | -$5M | -$19.3M | $3.21M | $1.79M | $1.07M | -$479K | -$481K | -$383K | -$216K |
| Gross Margin | 100.0% | - | -751.9% | - | -695.2% | -11.4% | -197.3% | -84.8% | -33.3% | 29.0% | -25.9% | -370.0% | 10.9% | 74.7% | 100.0% | - | - | - | - |
| Research and Development | $6.03M | $6.72M | $5.55M | $1.69M | $2.44M | $4.02M | $4.66M | $13.14M | $19.41M | $21.4M | $22.49M | $24.52M | $26.29M | $24.91M | $13.62M | $8.19M | $15.5M | $18.32M | $8.21M |
| Selling, General, and Administrative | $7.48M | $0 | $0 | $17.01M | $0 | $36.33M | $45.03M | $20.77M | $16.61M | $15.6M | $14.2M | $18.35M | $9.88M | $7.2M | $6.8M | $3.51M | $3.05M | $1.98M | $1.87M |
| Other | $0 | $1.82M | $6.45M | $0 | $13.05M | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Total Operating Expenses | $13.51M | $8.53M | $11.99M | $18.7M | $15.49M | $40.35M | $49.69M | $33.9M | $36.02M | $37M | $13.32M | $11.41M | $25.15M | $32.11M | $20.42M | $11.71M | $18.55M | $20.31M | $10.07M |
| Operating Income (EBIT) | -$13.48M | -$15.25M | -$16.89M | -$20.35M | -$18.12M | -$40.96M | -$54.2M | -$35.73M | -$38.68M | -$31.96M | -$19.2M | -$37.65M | -$6.67M | -$29.71M | -$19.35M | -$12.19M | -$19.03M | -$20.69M | -$10.29M |
| Operating Margin | -48157.1% | - | -2594.3% | - | -4792.6% | -756.3% | -2368.1% | -1660.9% | -483.8% | -184.1% | -99.7% | -721.7% | -22.6% | -1241.1% | -1805.2% | - | - | - | - |
| Interest Expense | $0 | $394K | $134K | $1.12M | $2.29M | $3.31M | $2.54M | $12.56M | $14.04M | $12.15M | $5.41M | $2.64M | $16.76M | $3.65M | $2.31M | $1.4M | $1.24M | $404K | $25K |
| Interest Income | $436K | $679K | $6.74M | $1.5M | $3.16M | $3.89M | $3.5M | $1.14M | $510K | $918K | $1.72M | $6.93M | $0 | $0 | $1.56M | $4K | $33K | $484K | $687K |
| Other Income (Expense) | -$879K | $2.25M | $6.6M | $79.49M | $969K | $588K | $968K | -$11.42M | -$13.53M | -$11.23M | -$4.44M | $4.3M | -$16.76M | -$3.65M | -$749K | -$2.16M | -$1.09M | $28K | $661K |
| Income Before Tax (EBT) | -$14.36M | -$13M | -$10.29M | $59.14M | -$17.15M | -$40.38M | -$53.24M | -$47.15M | -$52.21M | -$43.19M | -$23.64M | -$33.35M | -$23.43M | -$33.36M | -$20.1M | -$14.34M | -$20.12M | -$20.66M | -$9.63M |
| Income Tax Expense | $0 | $0 | $0 | $13K | $5K | $4K | $3K | $2K | -$701K | -$34K | $760K | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Net Income | -$14.29M | -$13M | -$18.4M | $42.52M | -$35.1M | -$40.38M | -$53.24M | -$47.15M | -$51.51M | -$43.16M | -$24.4M | -$33.35M | -$23.43M | -$33.36M | -$20.1M | -$14.34M | -$20.12M | -$20.66M | -$9.63M |
| Net Income Margin | -51035.7% | - | -2826.0% | - | -9285.4% | -745.6% | -2325.9% | -2192.0% | -644.3% | -248.6% | -126.7% | -639.3% | -79.4% | -1393.6% | -1875.1% | - | - | - | - |
| Supplementary Data | |||||||||||||||||||
| EPS | -0.34 | -0.50 | -1.29 | 5.73 | -5.86 | -9.47 | -13.45 | -16.14 | -21.97 | -19.05 | -11.93 | -18.20 | -11.80 | -30.16 | -23.18 | -13.95 | -19.56 | -20.09 | -9.36 |
| Diluted EPS | -0.34 | -0.50 | -1.29 | 5.72 | -5.86 | -9.47 | -13.45 | -16.14 | -21.97 | -19.05 | -10.97 | -15.05 | -11.79 | -30.16 | -23.18 | -13.95 | -19.56 | -20.09 | -9.36 |
| Weighted Average OS | 42.41M | 25.85M | 14.26M | 7.41M | 5.99M | 4.26M | 3.96M | 2.92M | 2.34M | 2.27M | 2.05M | 1.83M | 1.99M | 1.11M | 867,236 | 1.03M | 1.03M | 1.03M | 1.03M |
| EBITDA | -$14.36M | -$12.51M | -$9.84M | $61.9M | -$12.88M | -$35.22M | -$49.03M | -$34.01M | -$36.43M | -$28.99M | -$16.25M | -$29.85M | -$6.07M | -$29.11M | -$17.28M | -$12.47M | -$18.4M | -$19.88M | -$9.39M |
| EBITDA Margin | -51296.4% | - | -1511.8% | - | -3408.2% | -650.2% | -2142.2% | -1581.3% | -455.6% | -167.0% | -84.4% | -572.1% | -20.6% | -1215.9% | -1611.8% | - | - | - | - |
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 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Currency | 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 |
| Assets | ||||||||||||||||||
| Current Assets | ||||||||||||||||||
| Cash and Cash Equivalents | $5.89M | $8.86M | $5.72M | $15.28M | $7.66M | $27.27M | $14.68M | $87.97M | $52.9M | $80.31M | $107.92M | $60.04M | $88.4M | $47.93M | $7.79M | $3.06M | $7.15M | $6.07M |
| Short-Term Investments | $14.49M | $0 | $3.66M | $495K | $38.97M | $15.61M | $51.45M | $17.74M | $7.57M | $0 | $5.54M | $15.31M | $15.26M | $11.83M | $27.99M | $627K | $5.4M | $14.13M |
| Cash and Short-Term Investments | $20.38M | $8.86M | $9.38M | $15.77M | $46.63M | $42.89M | $66.14M | $105.72M | $60.47M | $80.31M | $113.46M | $75.35M | $103.66M | $59.76M | $35.78M | $3.68M | $12.55M | $20.21M |
| Accounts Receivable | $0 | $0 | $0 | $309K | $160K | $635K | $432K | $401K | $1.53M | $5.83M | $3.29M | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Inventory | $0 | $0 | $0 | $1.18M | $1.11M | $1.63M | $3.29M | $854K | $956K | $2.15M | $466K | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Other Current Assets | $519K | $0 | -$20K | $2.31M | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Total Current Assets | $20.9M | $9.42M | $11.56M | $24.57M | $50.49M | $46.83M | $71.69M | $107.99M | $63.41M | $89.05M | $118.95M | $76.3M | $104.56M | $61.77M | $38.15M | $5.78M | $12.94M | $20.98M |
| Long-Term Assets | ||||||||||||||||||
| Property, Plant & Equipment Net | $0 | $0 | $0 | $13.86M | $20.23M | $18.81M | $18.48M | $11.48M | $11.05M | $10.71M | $8.61M | $9.82M | $5.18M | $2.48M | $2.31M | $800K | $1.28M | $1.41M |
| Goodwill | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Intangible Assets | $0 | $8.82M | $8.82M | $8.82M | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Long-Term Investments | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $529K | $881K | $178K | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Deferred Tax Assets | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Other Long-Term Assets | $8.82M | $0 | $20K | $246K | $7.17M | $656K | $1.19M | $527K | $207K | $50K | $228K | $300K | $292K | $269K | $383K | $251K | $268K | $287K |
| Total Long-Term Assets | $8.82M | $8.82M | $8.84M | $22.92M | $27.4M | $19.46M | $19.67M | $12.54M | $12.14M | $10.94M | $8.84M | $10.12M | $5.47M | $2.75M | $2.69M | $1.05M | $1.55M | $1.7M |
| Other Assets | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Total Assets | $29.72M | $18.24M | $20.39M | $47.49M | $77.89M | $66.3M | $91.36M | $120.53M | $75.55M | $99.99M | $127.78M | $86.42M | $110.03M | $64.52M | $40.84M | $6.83M | $14.49M | $22.68M |
| Liabilities | ||||||||||||||||||
| Current Liabilities | ||||||||||||||||||
| Accounts Payable | $544K | $670K | $1.34M | $1.26M | $2.12M | $2.74M | $1.72M | $2.07M | $1.42M | $1.56M | $1.56M | $2.43M | $2.34M | $2.23M | $1.53M | $543K | $917K | $1.19M |
| Short-Term Debt | $0 | $0 | $0 | $5.36M | $8.8M | $8.73M | $4.98M | $9M | $8.33M | $3.68M | $4.66M | $6.86M | $0 | $7.44M | $3.8M | $12.01M | $4.73M | $2.84M |
| Current Income Tax Payable | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Current Unearned Revenue | $0 | $0 | $0 | $115K | $86K | $0 | $0 | $315K | $362K | $362K | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Other Current Liabilities | $1.87M | $723K | $1.17M | $2.8M | $2.97M | $155K | $411K | $3.61M | $2.19M | $2.56M | $2.6M | $1.29M | $1.35M | $1.61M | $1.3M | $0 | $0 | $0 |
| Total Current Liabilities | $3.81M | $2.65M | $4.51M | $13.77M | $18.51M | $17.64M | $13.61M | $15.93M | $13.66M | $10.19M | $12.78M | $13.73M | $6.87M | $14.33M | $7.84M | $13.41M | $6.01M | $4.53M |
| Long-Term Liabilities | ||||||||||||||||||
| Long-Term Debt | $6.5M | $6.53M | $0 | $0 | $5.01M | $13.14M | $112.2M | $96.67M | $94.35M | $90.86M | $79.88M | $18.02M | $14.36M | $8.53M | $15.28M | $0 | $5.01M | $9.49M |
| Long-Term Unearned Revenue | $0 | $0 | $0 | $1.04M | $1.15M | $0 | $0 | $3.15M | $3.46M | $3.82M | $0 | $0 | $0 | $0 | $0 | $245K | $425K | $596K |
| Long-Term Deferred Tax Liabilities | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Other Long-Term Liabilities | $2.38M | $1.06M | $1.78M | $7.91M | $85.37M | $88.66M | $3.32M | $537K | $585K | $455K | $2.02M | $8.01M | $15.64M | $7.81M | $247K | $59.07M | $56.04M | $41.4M |
| Total Long-Term Liabilities | $8.88M | $7.59M | $1.78M | $11.9M | $95.28M | $104.41M | $119.16M | $100.35M | $98.4M | $95.14M | $81.89M | $26.03M | $30M | $16.34M | $15.52M | $59.31M | $61.47M | $51.48M |
| Other Liabilities | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Total Liabilities | $12.68M | $10.24M | $6.29M | $25.67M | $113.79M | $122.05M | $132.77M | $116.28M | $112.06M | $105.33M | $94.67M | $39.76M | $36.87M | $30.67M | $23.37M | $72.72M | $67.48M | $56.01M |
| Stockholders' Equity | ||||||||||||||||||
| Preferred Stock | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Common Stock | $49K | $17K | $17K | $8K | $7K | $98K | $79K | $78K | $51K | $45K | $45K | $43K | $43K | $37K | $22K | $3K | $3K | $1K |
| Retained Earnings | -$471.52M | -$457.23M | -$444.23M | -$425.83M | -$473.58M | -$438.49M | -$398.11M | -$345.02M | -$297.87M | -$246.36M | -$203.21M | -$178.81M | -$145.45M | -$122.03M | -$88.66M | -$68.56M | -$54.22M | -$34.1M |
| Comprehensive Income & Other | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $3K | -$1K | -$4K | $1K | $1K | $0 | $0 | -$2K | $39K |
| Other Stockholders' Equity | $488.51M | $465.21M | $458.31M | $447.63M | $437.68M | $382.64M | $356.61M | $349.19M | $261.31M | $240.98M | $236.27M | $225.42M | $218.57M | $155.84M | $106.11M | $2.67M | $1.22M | $764K |
| Total Equity | $17.04M | $8M | $14.11M | $21.81M | -$35.89M | -$55.75M | -$41.42M | $4.25M | -$36.51M | -$5.34M | $33.11M | $46.66M | $73.16M | $33.85M | $17.47M | -$65.89M | -$52.99M | -$33.34M |
| Minority Interest | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Total Liabilities and Equity | $29.72M | $18.24M | $20.39M | $47.49M | $77.89M | $66.3M | $91.36M | $120.53M | $75.55M | $99.99M | $127.78M | $86.42M | $110.03M | $64.52M | $40.84M | $6.83M | $14.49M | $22.68M |
| Supplementary Data | ||||||||||||||||||
| Total Debt | $6.5M | $6.53M | $0 | $10.02M | $18.62M | $25.6M | $121.79M | $105.67M | $102.68M | $94.54M | $84.53M | $24.87M | $14.36M | $15.97M | $19.08M | $12.01M | $9.73M | $12.33M |
| Net Debt | $605K | -$2.34M | -$5.72M | -$5.25M | $10.96M | -$1.68M | $107.11M | $17.7M | $49.78M | $14.23M | -$23.39M | -$35.16M | -$74.04M | -$31.96M | $11.29M | $8.95M | $2.58M | $6.26M |
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 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 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 |
| Operating Activities | |||||||||||||||||||
| Net Income | -$14.29M | -$13M | -$18.4M | $47.76M | -$35.1M | -$40.38M | -$53.24M | -$47.15M | -$51.51M | -$43.16M | -$24.4M | -$33.35M | -$23.43M | -$33.36M | -$20.1M | -$14.34M | -$20.12M | -$20.66M | -$9.63M |
| Depreciation & Amortization | -$142K | $96K | $311K | $1.65M | $1.97M | $1.85M | $1.67M | $575K | $1.74M | $2.05M | $1.98M | $866K | $593K | $605K | $513K | $479K | $481K | $383K | $216K |
| Deferred Income Tax | $0 | $0 | $2.2M | $0 | $810K | $712K | -$11.84M | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Stock-Based Compensation | $699K | $989K | $1.73M | $2.89M | $4.61M | $4.42M | $5.06M | $5.17M | $4.29M | $4.48M | $5.01M | $4.44M | $3.48M | $2.15M | $1.83M | $1.42M | $463K | $456K | $0 |
| Changes in Working Capital: | |||||||||||||||||||
| Accounts Receivable | $0 | $0 | -$189K | -$149K | $475K | -$203K | -$31K | $1.48M | $3.6M | -$2.55M | -$3.29M | $0 | $0 | $705K | $987K | -$371K | $0 | $0 | $0 |
| Inventory | $0 | $0 | $61K | -$107K | -$295K | $957K | -$3.39M | $102K | $920K | -$1.69M | -$466K | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Accounts Payable | -$208K | -$671K | -$575K | $551K | $111K | $1.02M | -$19K | $458K | $309K | -$437K | $0 | $0 | $0 | $705K | $987K | -$371K | -$271K | $319K | $422K |
| Other Working Capital | $1.29M | $447K | -$838K | -$1.69M | -$88K | -$4.06M | -$464K | -$177K | -$1.13M | $2.4M | -$670K | -$11K | $214K | $2.11M | $192K | -$1.02M | -$152K | $349K | $3K |
| Total Working Capital Change | $1.08M | -$224K | -$1.54M | -$1.39M | $203K | -$2.29M | -$3.91M | $1.87M | $3.7M | -$2.27M | -$4.42M | -$11K | $214K | $3.52M | $2.17M | -$1.76M | -$423K | $668K | $425K |
| Other Non-Cash Items | $1.29M | -$540K | -$1.79M | -$79.23M | -$2.5M | -$2.83M | $11.08M | $14.74M | $14.96M | $22.76M | $1.87M | -$6.4M | $18.65M | $2.51M | $302K | $1.98M | $180K | $252K | $128K |
| Net Cash from Operating | -$11.36M | -$12.68M | -$17.49M | -$28.33M | -$30M | -$38.51M | -$51.18M | -$29.07M | -$29.77M | -$29.39M | -$19.95M | -$34.46M | -$487K | -$24.58M | -$15.29M | -$12.22M | -$19.42M | -$18.9M | -$8.86M |
| Investing Activities | |||||||||||||||||||
| Capital Expenditures | $0 | $0 | -$100K | -$364K | -$1.83M | -$1.85M | -$3.47M | -$819K | -$2.4M | -$3.72M | -$1.46M | -$5.5M | -$3.29M | -$826K | -$2.02M | -$4K | -$111K | -$547K | -$1.56M |
| Acquisitions | $0 | $0 | $0 | $0 | -$821K | -$35.99M | $33.09M | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Purchases of Investments | -$17.82M | -$4.98M | -$3.65M | -$7.86M | -$70.46M | -$44.61M | -$100.07M | -$30.56M | -$7.57M | -$996K | $0 | $0 | $0 | -$27.17M | -$39.37M | -$4.92M | -$13.91M | -$14.09M | -$8.11M |
| Sales of Investments | $3.47M | $8.76M | $500K | $46.36M | $46.98M | $80.61M | $66.97M | $20.5M | $0 | $6.53M | $0 | $0 | $0 | $42.95M | $11.81M | $9.69M | $22.63M | $4.7M | $7.45M |
| Other Investing Activities | $0 | $0 | $2.72M | -$1.69M | $0 | $35.99M | -$33.09M | -$10.06M | -$7.57M | $5.53M | $9.66M | -$271K | -$3.63M | $0 | $0 | $0 | $0 | $0 | $0 |
| Net Cash from Investing | -$14.35M | $3.78M | -$528K | $36.45M | -$26.12M | $34.14M | -$36.56M | -$10.88M | -$9.97M | $1.81M | $8.2M | -$5.78M | -$6.92M | $14.96M | -$29.58M | $4.76M | $8.62M | -$9.94M | -$2.22M |
| Financing Activities | |||||||||||||||||||
| Debt Repaid | - | -$6.13M | $5.42M | $8.43M | $8.83M | $4.67M | -$12.67M | $7.72M | $3.51M | - | $4.53M | -$10M | $1.82M | $3.65M | -$14.46M | -$3.34M | $2.86M | -$11.76M | -$525K |
| Common Stock Issuance | $22.72M | $5.91M | $8.86M | $7.99M | $50.28M | $21.34M | $1.23M | $81.53M | $15.69M | $179K | $0 | $0 | $47.94M | $53.17M | $34.94M | $0 | $26K | $0 | $0 |
| Common Stock Repurchases | $0 | $0 | $0 | $0 | $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 |
| Other Financing Activities | $0 | $0 | $26K | $16K | $69K | $286K | $553K | $1.22M | $147K | -$26K | $64.17M | $1.87M | $1.76M | $246K | $201K | -$49K | $0 | $0 | $0 |
| Net Cash from Financing | $22.74M | $12.04M | $3.47M | -$507K | $41.51M | $16.96M | $14.45M | $75.03M | $12.33M | -$26K | $59.63M | $11.87M | $47.88M | $49.77M | $49.6M | $3.37M | $11.88M | $31.9M | $525K |
| Forex Effect | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Net Change in Cash | -$2.97M | $3.14M | -$14.55M | $7.61M | -$14.61M | $12.59M | -$73.29M | $35.07M | -$27.41M | -$27.61M | $47.88M | -$28.36M | $40.47M | $40.14M | $4.74M | -$4.09M | $1.08M | $3.06M | $0 |
| Supplementary Data | |||||||||||||||||||
| Operating Cash Flow | -$11.36M | -$12.68M | -$17.49M | -$28.33M | -$30M | -$38.51M | -$51.18M | -$29.07M | -$29.77M | -$29.39M | -$19.95M | -$34.46M | -$487K | -$24.58M | -$15.29M | -$12.22M | -$19.42M | -$18.9M | -$8.86M |
| Capital Expenditure | $0 | $0 | -$100K | -$364K | -$1.83M | -$1.85M | -$3.47M | -$819K | -$2.4M | -$3.72M | -$1.46M | -$5.5M | -$3.29M | -$826K | -$2.02M | -$4K | -$111K | -$547K | -$1.56M |
| Free Cash Flow | -$11.36M | -$12.68M | -$17.59M | -$28.7M | -$31.83M | -$40.36M | -$54.65M | -$29.89M | -$32.17M | -$33.12M | -$21.41M | -$39.96M | -$3.77M | -$25.41M | -$17.31M | -$12.23M | -$19.53M | -$19.45M | -$10.42M |
| Cash at Beginning | $8.86M | $5.72M | $20.27M | $12.66M | $27.27M | $14.68M | $87.97M | $52.9M | $80.31M | $107.92M | $60.04M | $88.4M | $47.93M | $7.79M | $3.06M | $7.15M | $6.07M | $3.01M | $0 |
| Cash at End | $5.89M | $8.86M | $5.72M | $20.27M | $12.66M | $27.27M | $14.68M | $87.97M | $52.9M | $80.31M | $107.92M | $60.04M | $88.4M | $47.93M | $7.79M | $3.06M | $7.15M | $6.07M | $0 |