Corcept Therapeutics (CORT) FY2017 results: revenue $159 million, up 95.8% on the year
Corcept Therapeutics Inc. (CORT) reported revenue of $159 million for fiscal 2017, the year ended 31 December 2017, up 95.8% on the year before. Net income was $129 million, up 1486.3%, and diluted earnings per share $1.04. The figures are the company's own, from the 10-K it filed with the SEC on 26 February 2019.
Revenue
$159 million
+95.8% on the year
FY2009FY2017
Operating margin
33.2%
12.5% a year earlier
FY2009FY2017
Net income
$129 million
+1,486.3% on the year
FY2009FY2017
Diluted EPS
$1.04
+1,385.7% on the year
FY2009FY2017
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2017
FY2016
FY2015
On the year
Last 8 years
Revenue
159
81.3
50.3
+95.8%
Cost of revenue
3.6
2.1
1.4
+72.7%
Gross profit
156
79.3
48.9
+96.4%
Gross margin
97.8%
97.5%
97.3%
Research and development
40.4
23.8
15.4
+69.3%
Selling, general and administrative
62.4
45.2
36.9
+38.0%
Operating income
52.9
10.2
-3.4
+419.3%
Operating margin
33.2%
12.5%
-6.8%
Pre-tax income
52.8
8.1
-6.4
+548.7%
Income tax
-76.3
0.0
0.0
Effective tax rate
-144.5%
0.0%
n/a
Net income
129
8.1
-6.4
+1,486.3%
Net margin
81.1%
10.0%
-12.7%
Diluted EPS
$1.04
$0.07
-$0.06
+1,385.7%
$ million except per share. Read moreFree cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.
Cash flow
$ million
FY2017
FY2016
FY2015
On the year
Last 8 years
Operating cash flow
60.9
18.4
3.1
+231.3%
Capital expenditure
0.4
0.2
0.0
+116.0%
Free cash flow
60.5
18.2
3.1
+232.6%
Free cash flow margin
38.0%
22.4%
6.2%
Cash from investing
-73.5
-0.2
n/a
Cash from financing
-8.0
-7.1
n/a
Depreciation and amortisation
0.1
0.1
0.2
+21.8%
Share-based compensation
13.4
7.1
6.0
+89.3%
Buybacks
0.0
0.0
n/a
Diluted shares, weighted
125m
116m
107m
+7.2%
Shares outstanding at period end
115m
113m
110m
+1.8%
Balance sheet
$ million
FY2017
FY2016
FY2015
On the year
Last 8 years
Shareholders' equity
191
41.4
18.5
+361.5%
Debt
0.0
14.7
27.5
Other liabilities
29.6
12.7
5.9
+132.6%
Total liabilities and equity
221
68.8
51.9
+220.8%
Fixed assets
0.5
0.2
0.1
+152.7%
Investments
73.0
0.0
n/a
Cash and equivalents
31.1
51.5
40.4
-39.7%
Receivables
15.3
9.9
6.2
+55.2%
Inventory
4.6
2.3
1.7
+96.5%
Other assets
96.1
4.8
3.5
+1,892.9%
Total assets
221
68.8
51.9
+220.8%
10-K for the year ended 31 December 2017, filed 26 February 2019: the filing.