Corcept Therapeutics (CORT) FY2018 results: revenue $251 million, up 57.8% on the year
Corcept Therapeutics Inc. (CORT) reported revenue of $251 million for fiscal 2018, the year ended 31 December 2018, up 57.8% on the year before. Net income was $75 million, down 41.6%, and diluted earnings per share $0.60. The figures are the company's own, from the 10-K it filed with the SEC on 26 February 2019.
Revenue
$251 million
+57.8% on the year
FY2009FY2018
Operating margin
35.6%
33.2% a year earlier
FY2009FY2018
Net income
$75 million
-41.6% on the year
FY2009FY2018
Diluted EPS
$0.60
-42.3% on the year
FY2009FY2018
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2018
FY2017
FY2016
On the year
Last 8 years
Revenue
251
159
81.3
+57.8%
Cost of revenue
5.2
3.6
2.1
+46.7%
Gross profit
246
156
79.3
+58.1%
Gross margin
97.9%
97.8%
97.5%
Research and development
75.2
40.4
23.8
+86.4%
Selling, general and administrative
81.3
62.4
45.2
+30.2%
Operating income
89.5
52.9
10.2
+69.3%
Operating margin
35.6%
33.2%
12.5%
Pre-tax income
92.2
52.8
8.1
+74.5%
Income tax
16.7
-76.3
0.0
Effective tax rate
18.2%
-144.5%
0.0%
Net income
75.4
129
8.1
-41.6%
Net margin
30.0%
81.1%
10.0%
Diluted EPS
$0.60
$1.04
$0.07
-42.3%
$ 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
FY2018
FY2017
FY2016
On the year
Last 8 years
Operating cash flow
116
60.9
18.4
+89.8%
Capital expenditure
0.3
0.4
0.2
-28.9%
Free cash flow
115
60.5
18.2
+90.6%
Free cash flow margin
45.9%
38.0%
22.4%
Cash from investing
-90.8
-73.5
-0.2
Cash from financing
-14.3
-8.0
-7.1
Depreciation and amortisation
0.2
0.1
0.1
+122.6%
Share-based compensation
23.7
13.4
7.1
+77.7%
Buybacks
23.7
0.0
0.0
Diluted shares, weighted
127m
125m
116m
+1.7%
Shares outstanding at period end
115m
115m
113m
+0.3%
Balance sheet
$ million
FY2018
FY2017
FY2016
On the year
Last 8 years
Shareholders' equity
276
191
41.4
+44.5%
Debt
0.0
0.0
14.7
Other liabilities
35.8
29.6
12.7
+21.1%
Total liabilities and equity
312
221
68.8
+41.3%
Fixed assets
0.7
0.5
0.2
+26.4%
Investments
165
73.0
0.0
+126.3%
Cash and equivalents
41.6
31.1
51.5
+34.0%
Receivables
17.6
15.3
9.9
+15.0%
Inventory
4.7
4.6
2.3
+3.4%
Other assets
82.0
96.1
4.8
-14.7%
Total assets
312
221
68.8
+41.3%
10-K for the year ended 31 December 2018, filed 26 February 2019: the filing.