Pacira BioSciences (PCRX) FY2019 results: revenue $421 million, up 24.8% on the year
Pacira BioSciences, Inc. (PCRX) reported revenue of $421 million for fiscal 2019, the year ended 31 December 2019, up 24.8% on the year before. Net income was -$11 million, and diluted earnings per share $-0.27. The figures are the company's own, from the 10-K it filed with the SEC on 21 February 2020.
Revenue
$421 million
+24.8% on the year
FY2012FY2019
Operating margin
2.5%
4.7% a year earlier
FY2012FY2019
Net income
-$11 million
FY2012FY2019
Diluted EPS
-$0.27
FY2012FY2019
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2019
FY2018
FY2017
On the year
Last 8 years
Revenue
421
337
287
+24.8%
Cost of revenue
107
86.8
87.9
+22.9%
Gross profit
314
250
199
+25.5%
Gross margin
74.7%
74.3%
69.3%
Research and development
72.1
55.7
57.3
+29.5%
Selling, general and administrative
201
177
161
+13.3%
Operating income
10.5
15.9
-24.9
-34.2%
Operating margin
2.5%
4.7%
-8.7%
Interest expense
23.6
21.9
18.0
+7.6%
Pre-tax income
-10.7
-0.4
-42.5
Income tax
0.3
0.0
0.1
+482.6%
Net income
-11.0
-0.5
-42.6
Net margin
-2.6%
-0.1%
-14.9%
Diluted EPS
-$0.27
-$0.01
-$1.07
$ 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
FY2019
FY2018
FY2017
On the year
Last 8 years
Operating cash flow
70.5
48.9
17.8
+44.3%
Capital expenditure
10.2
14.5
19.3
-30.0%
Free cash flow
60.4
34.4
-1.5
+75.7%
Free cash flow margin
14.3%
10.2%
-0.5%
Cash from investing
-128
20.6
-224
Cash from financing
3.7
9.0
224
-59.0%
Depreciation and amortisation
19.6
13.2
13.8
+48.7%
Share-based compensation
33.6
31.7
31.6
+6.1%
Diluted shares, weighted
42m
41m
40m
+1.5%
Shares outstanding at period end
42m
41m
41m
+1.7%
Balance sheet
$ million
FY2019
FY2018
FY2017
On the year
Last 8 years
Shareholders' equity
355
321
279
+10.5%
Debt
306
291
276
+5.3%
Operating lease liabilities
40.9
0.0
n/a
Other liabilities
129
77.5
72.7
+66.6%
Total liabilities and equity
831
689
628
+20.6%
Fixed assets
105
109
107
-3.7%
Goodwill
99.5
62.0
55.2
+60.5%
Intangible assets
104
0.0
n/a
Investments
279
277
317
+0.6%
Cash and equivalents
78.2
133
54.1
-41.0%
Receivables
47.5
38.0
31.7
+25.1%
Inventory
58.3
48.6
41.4
+20.0%
Other assets
59.9
22.7
21.7
+163.2%
Total assets
831
689
628
+20.6%
10-K for the year ended 31 December 2019, filed 21 February 2020: the filing.