Cash flow Vanda Pharmaceuticals Inc.

Equities

VNDA

US9216591084

Biotechnology & Medical Research

Market Closed - Nasdaq Other stock markets 04:00:00 2026-05-19 pm EDT			5-day change	1st Jan Change
5.990 ^USD	-1.48%		-4.47%	-32.09%

May. 07	Vanda Pharmaceuticals Inc., Q1 2026 Earnings Call, May 06, 2026
May. 06	Vanda Pharmaceuticals Inc. Raises Revenue Guidance for the Full-Year 2026	CI

906660a0aa11eea579fe.E2tjSRLH-JfZiRzHEXWoeVFkKBTkR5lrkN3RGqdR9R8.YT0QD2uxufrv2123Xj3ACWgXcCaUMK8s5JeIWf8ymXNZXg4tK7e27rzrUQ

Published financial data: VANDA PHARMACEUTICALS INC.

Annual

Quarterly

Halfyear

YTD

LTM

Fiscal Period: December	2021	2022	2023	2024	2025
Revenues	269M	254M	193M	199M	216M
Total Revenues	269M	254M	193M	199M	216M
Cost of Goods Sold, Total	25.63M	24.28M	14.8M	11.31M	13.04M
Gross Profit	243M	230M	178M	187M	203M
Selling General & Admin Expenses, Total	124M	136M	113M	146M	238M
R&D Expenses	75.36M	85.77M	76.82M	74.43M	109M
Amortization of Goodwill and Intangible Assets - (IS)	1.48M	1.52M	2.09M	7.27M	7.01M
Other Operating Expenses, Total	201M	224M	192M	228M	354M
Operating Income	42.16M	6.33M	-13.95M	-40.66M	-151M
Interest And Investment Income	199K	4.97M	-	-	10.47M
Net Interest Expenses	199K	4.97M	-	-	10.47M
Currency Exchange Gains (Loss)	-	-	-	-	-
Other Non Operating Income (Expenses)	-	-	11.49M	10.74M	-
EBT, Excl. Unusual Items	42.36M	11.3M	-2.46M	-29.92M	-141M
Gain (Loss) On Sale Of Investments	-	-	8.8M	6.99M	2.05M
EBT, Incl. Unusual Items	42.36M	11.3M	6.34M	-22.92M	-139M
Income Tax Expense	9.21M	5.02M	3.83M	-4.02M	81.83M
Earnings From Continuing Operations	33.15M	6.28M	2.51M	-18.9M	-220M
Net Income to Company	33.15M	6.28M	2.51M	-18.9M	-220M
Net Income - (IS)	33.15M	6.28M	2.51M	-18.9M	-220M
Net Income to Common Incl Extra Items	33.15M	6.28M	2.51M	-18.9M	-220M
Net Income to Common Excl. Extra Items	33.15M	6.28M	2.51M	-18.9M	-220M
Per Share Items
Net EPS - Basic	0.6	0.11	0.04	-0.33	-3.74
Basic EPS - Continuing Operations	0.6	0.11	0.04	-0.33	-3.74
Basic Weighted Average Shares Outstanding	55.55M	56.46M	57.38M	58.15M	58.93M
Net EPS - Diluted	0.58	0.11	0.04	-0.33	-3.74
Diluted EPS - Continuing Operations	0.58	0.11	0.04	-0.33	-3.74
Diluted Weighted Average Shares Outstanding	56.92M	56.98M	57.56M	58.15M	58.93M
Normalized Basic EPS	0.48	0.13	-0.03	-0.32	-1.49
Normalized Diluted EPS	0.47	0.12	-0.03	-0.32	-1.49
Supplemental Items
EBITDA	45.01M	9.06M	-10.94M	-32.53M	-143M
EBITA	43.64M	7.84M	-11.86M	-33.39M	-144M
EBIT	42.16M	6.33M	-13.95M	-40.66M	-151M
EBITDAR	47.71M	11.66M	-8.34M	-29.88M	-140M
Total Revenues (As Reported)	269M	254M	193M	199M	216M
Effective Tax Rate - (Ratio)	21.74	44.47	60.42	17.54	-59.02
Current Domestic Taxes	2.2M	3.71M	5.02M	2.4M	240K
Current Foreign Taxes	267K	185K	91K	58K	143K
Total Current Taxes	2.47M	3.9M	5.12M	2.46M	383K
Deferred Domestic Taxes	6.72M	1.13M	-1.27M	-6.48M	81.41M
Deferred Foreign Taxes	22K	3K	-15K	-3K	38K
Total Deferred Taxes	6.74M	1.13M	-1.28M	-6.48M	81.44M
Normalized Net Income	26.48M	7.06M	-1.54M	-18.7M	-87.94M
Supplemental Operating Expense Items
Marketing Expenses	6.7M	2.6M	500K	1.9M	28.6M
Selling and Marketing Expenses	6.7M	2.6M	500K	1.9M	28.6M
Research And Development Expense From Footnotes	75.36M	85.77M	76.82M	74.43M	109M
Net Rental Expense, Total	2.7M	2.6M	2.6M	2.65M	2.68M
Stock-Based Comp., R&D Exp. (Total)	3.96M	3.96M	3.32M	2.96M	2.37M
Stock-Based Comp., SG&A Exp. (Total)	11.42M	12.32M	10.72M	9.47M	7.11M
Total Stock-Based Compensation	15.37M	16.28M	14.04M	12.43M	9.47M

Fiscal Period: December	2021	2022	2023	2024	2025
Assets
Cash And Equivalents	52.07M	135M	136M	102M	84.85M
Short Term Investments	381M	332M	252M	272M	179M
Total Cash And Short Term Investments	433M	467M	388M	375M	264M
Accounts Receivable, Total	32.47M	33.51M	34.16M	47.1M	54.58M
Total Receivables	32.47M	33.51M	34.16M	47.1M	54.58M
Inventory	1.02M	1.19M	1.36M	1.73M	1.85M
Prepaid Expenses	12M	17.73M	9.17M	15.42M	26.88M
Restricted Cash	-	-	-	-	103K
Other Current Assets, Total	-	-	-	-	-
Total Current Assets	478M	519M	433M	439M	347M
Gross Property Plant And Equipment	21.76M	21.39M	20.32M	24.24M	26.13M
Accumulated Depreciation	-9.38M	-10.42M	-11.18M	-11.57M	-12.62M
Net Property Plant And Equipment	12.38M	10.97M	9.14M	12.68M	13.51M
Other Intangibles, Total	20.08M	18.56M	121M	114M	117M
Deferred Tax Assets Long-Term	74.88M	74.04M	75M	81.44M	-
Other Long-Term Assets, Total	8.15M	11.38M	9.98M	9.1M	11.08M
Total Assets	594M	634M	648M	656M	489M
Liabilities
Accounts Payable, Total	925K	12.69M	7.14M	3.5M	4.94M
Accrued Expenses, Total	31.2M	30.53M	28.92M	31.32M	47.8M
Current Portion of Leases	2.31M	2.33M	2.4M	4.27M	5.56M
Other Current Liabilities	39.98M	45.88M	49.24M	60.9M	86.86M
Total Current Liabilities	74.42M	91.44M	87.7M	99.98M	145M
Long-Term Leases	10.06M	8.81M	7.01M	8.09M	7.07M
Deferred Tax Liability Non Current	-	-	-	-	-
Other Non Current Liabilities	4.39M	6.8M	8.83M	9.59M	9.53M
Total Liabilities	88.86M	107M	104M	118M	162M
Common Stock, Total	56K	57K	58K	58K	59K
Additional Paid In Capital	669M	686M	700M	713M	721M
Retained Earnings	-164M	-158M	-155M	-174M	-395M
Comprehensive Income and Other	-175K	-1.19M	-30K	74K	629K
Total Common Equity	505M	527M	545M	539M	327M
Total Equity	505M	527M	545M	539M	327M
Total Liabilities And Equity	594M	634M	648M	656M	489M
Supplemental Items
ECS Total Shares Outstanding on Filing Date	55.91M	56.79M	57.54M	58.32M	59.11M
ECS Total Common Shares Outstanding	55.9M	56.78M	57.53M	58.31M	59.1M
Book Value / Share	9.03	9.28	9.47	9.24	5.54
Tangible Book Value	485M	509M	424M	424M	210M
Tangible Book Value Per Share	8.67	8.96	7.36	7.28	3.55
Total Debt	12.37M	11.14M	9.4M	12.36M	12.62M
Net Debt	-420M	-456M	-379M	-362M	-251M
Debt Equivalent Oper. Leases	21.6M	20.8M	20.8M	21.19M	21.46M
Account Code - Inventory Valuation	5	5	5	5	5
Inventories - Work In Process, Total	30K	23K	27K	-	-
Inventories - Finished Goods, Total	995K	1.17M	1.33M	1.73M	1.85M
Machinery, Total	7.03M	7.58M	7.78M	8.23M	9.37M
Full Time Employees	278	290	203	368	533

Fiscal Period: December	2021	2022	2023	2024	2025
Net Income	33.15M	6.28M	2.51M	-18.9M	-220M
Depreciation & Amortization - CF	1.36M	1.22M	920K	859K	4.91M
Amortization of Goodwill and Intangible Assets - (CF)	1.48M	1.52M	2.09M	7.27M	7.01M
Depreciation & Amortization, Total	2.84M	2.73M	3.01M	8.13M	11.92M
(Gain) Loss on Sale of Investments - (CF)	1.64M	-2.96M	-8.14M	-6.99M	-2.05M
Stock-Based Compensation (CF)	15.37M	16.28M	14.04M	12.43M	9.47M
Other Operating Activities, Total	8.47M	3.59M	2.13M	-3.87M	83.39M
Change In Accounts Receivable	-2.47M	-1.09M	-707K	-13.01M	-7.46M
Change In Inventories	-2.23M	-4.48M	-771K	-29K	-3.47M
Change In Accounts Payable	3.04M	11.79M	-10.98M	1.71M	15.82M
Change in Other Net Operating Assets	4.4M	-151K	11.72M	4.78M	3.42M
Cash from Operations	64.21M	31.98M	12.8M	-15.76M	-109M
Capital Expenditure	-552K	-679K	-101M	-4.72M	-998K
Sale (Purchase) of Intangible assets	-	-	-	-	-
Investment in Marketable and Equity Securities, Total	-76.14M	50.6M	88.99M	-12.71M	95.86M
Other Investing Activities, Total	-	-	-	-	-
Cash from Investing	-76.7M	49.92M	-12.06M	-17.43M	94.86M
Long-Term Debt Repaid, Total	-	-	-	-155K	-1.99M
Total Debt Repaid	-	-	-	-155K	-1.99M
Issuance of Common Stock	3.55M	734K	-	-	-
Repurchase of Common Stock	-	-	-	-	-915K
Cash from Financing	3.55M	734K	-	-155K	-2.91M
Foreign Exchange Rate Adjustments	-91K	265K	47K	-163K	23K
Net Change in Cash	-9.02M	82.91M	792K	-33.5M	-17.46M
Supplemental Items
Cash Income Tax Paid (Refund)	-	-	3.6M	2.4M	-90K
Levered Free Cash Flow	48.22M	32.34M	-88.78M	-18.72M	-49.36M
Unlevered Free Cash Flow	48.22M	32.34M	-88.78M	-18.72M	-49.36M
Change In Net Working Capital	-4.21M	-10.06M	-3.94M	9.15M	-24.73M
Net Debt Issued / Repaid	-	-	-	-155K	-1.99M

Fiscal Period: December	2021	2022	2023	2024	2025
Profitability
Return on Assets	4.68	0.64	-1.36	-3.9	-16.5
Return on Total Capital	5.36	0.75	-1.6	-4.6	-21.21
Return On Equity %	6.92	1.22	0.47	-3.49	-50.93
Return on Common Equity	6.92	1.22	0.47	-3.49	-50.93
Margin Analysis
Gross Profit Margin %	90.46	90.45	92.32	94.31	93.96
SG&A Margin	46.17	53.65	58.6	73.66	110.11
EBITDA Margin %	16.75	3.56	-5.68	-16.36	-66.2
EBITA Margin %	16.24	3.08	-6.16	-16.8	-66.71
EBIT Margin %	15.69	2.49	-7.24	-20.46	-69.95
Income From Continuing Operations Margin %	12.34	2.47	1.3	-9.51	-102.02
Net Income Margin %	12.34	2.47	1.3	-9.51	-102.02
Net Avail. For Common Margin %	12.34	2.47	1.3	-9.51	-102.02
Normalized Net Income Margin	9.85	2.78	-0.8	-9.41	-40.69
Levered Free Cash Flow Margin	17.95	12.71	-46.08	-9.42	-22.84
Unlevered Free Cash Flow Margin	17.95	12.71	-46.08	-9.42	-22.84
Asset Turnover
Asset Turnover	0.48	0.41	0.3	0.3	0.38
Fixed Assets Turnover	19.92	21.78	19.16	18.22	16.5
Receivables Turnover (Average Receivables)	8.6	7.71	5.69	4.89	4.25
Inventory Turnover (Average Inventory)	22.24	21.89	11.6	7.34	7.29
Short Term Liquidity
Current Ratio	6.43	5.68	4.94	4.39	2.39
Quick Ratio	6.25	5.47	4.82	4.22	2.19
Operating Cash Flow to Current Liabilities	0.86	0.35	0.15	-0.16	-0.75
Days Sales Outstanding (Average Receivables)	42.45	47.33	64.1	74.81	85.87
Days Outstanding Inventory (Average Inventory)	16.41	16.68	31.46	49.87	50.06
Average Days Payable Outstanding	14.2	101.62	241.99	166.71	116.93
Cash Conversion Cycle (Average Days)	44.67	-37.61	-146.42	-42.03	19
Long Term Solvency
Total Debt/Equity	2.45	2.11	1.73	2.3	3.86
Total Debt / Total Capital	2.39	2.07	1.7	2.24	3.71
LT Debt/Equity	1.99	1.67	1.29	1.5	2.16
Long-Term Debt / Total Capital	1.94	1.64	1.26	1.47	2.08
Total Liabilities / Total Assets	14.97	16.88	15.97	17.93	33.08
Total Debt / EBITDA	0.26	0.96	-1.13	-0.41	-0.09
Net Debt / EBITDA	-8.81	-39.08	45.42	12.13	1.79
Total Debt / (EBITDA - Capex)	0.26	1.01	-0.09	-0.36	-0.09
Net Debt / (EBITDA - Capex)	-8.92	-41.49	3.46	10.47	1.78
Growth Over Prior Year
Total Revenues, 1 Yr. Growth %	8.27	-5.32	-24.27	3.18	8.72
Gross Profit, 1 Yr. Growth %	8.12	-5.33	-22.71	5.41	8.32
EBITDA, 1 Yr. Growth %	49.51	-79.86	-220.75	197.28	339.8
EBITA, 1 Yr. Growth %	51.98	-82.02	-251.2	181.46	331.79
EBIT, 1 Yr. Growth %	54.8	-84.99	-320.45	191.43	271.79
Earnings From Cont. Operations, 1 Yr. Growth %	42.06	-81.07	-60.02	-853.29	1.07K
Net Income, 1 Yr. Growth %	42.06	-81.07	-60.02	-853.29	1.07K
Normalized Net Income, 1 Yr. Growth %	33.83	-73.33	-129.51	1.12K	370.33
Diluted EPS Before Extra, 1 Yr. Growth %	38.1	-81.03	-63.64	-925.02	1.03K
Accounts Receivable, 1 Yr. Growth %	8.09	3.22	1.92	37.9	15.87
Inventory, 1 Yr. Growth %	-19.92	16.49	13.65	27.19	7.3
Net Property, Plant and Equip., 1 Yr. Growth %	-15.14	-11.4	-16.7	38.7	6.6
Total Assets, 1 Yr. Growth %	11.31	6.81	2.24	1.2	-25.49
Tangible Book Value, 1 Yr. Growth %	12.31	4.91	-16.73	0.21	-50.5
Common Equity, 1 Yr. Growth %	11.4	4.41	3.36	-1.17	-39.25
Cash From Operations, 1 Yr. Growth %	24.03	-50.19	-59.98	-223.09	594.56
Capital Expenditures, 1 Yr. Growth %	-69.25	23.01	14.78K	-95.33	-78.85
Levered Free Cash Flow, 1 Yr. Growth %	25.2	-32.93	-374.48	-78.91	189.44
Unlevered Free Cash Flow, 1 Yr. Growth %	25.2	-32.93	-374.48	-78.91	189.44
Compound Annual Growth Rate Over Two Years
Total Revenues, 2 Yr. CAGR %	8.75	1.24	-15.33	-11.6	5.92
Gross Profit, 2 Yr. CAGR %	9.5	1.17	-14.46	-9.74	6.85
EBITDA, 2 Yr. CAGR %	32.33	-45.13	-50.69	89.46	261.58
EBITA, 2 Yr. CAGR %	33.97	-47.73	-47.87	106.3	248.61
EBIT, 2 Yr. CAGR %	35.96	-51.8	-42.48	153.46	229.16
Earnings From Cont. Operations, 2 Yr. CAGR %	-46.44	-48.15	-72.49	73.55	837.41
Net Income, 2 Yr. CAGR %	-46.44	-48.15	-72.49	73.55	837.41
Normalized Net Income, 2 Yr. CAGR %	20.81	-40.25	-76.36	89.43	656.27
Diluted EPS Before Extra, 2 Yr. CAGR %	-47.57	-48.82	-73.74	73.21	867.13
Accounts Receivable, 2 Yr. CAGR %	10.97	5.63	2.57	18.55	26.41
Inventory, 2 Yr. CAGR %	-5.18	-3.42	15.06	20.23	16.82
Net Property, Plant and Equip., 2 Yr. CAGR %	-9.27	-13.29	-14.09	7.48	21.6
Total Assets, 2 Yr. CAGR %	10.79	9.04	4.5	1.72	-13.16
Tangible Book Value, 2 Yr. CAGR %	11.8	8.54	-6.54	-8.65	-29.57
Common Equity, 2 Yr. CAGR %	10.85	7.85	3.88	1.07	-22.51
Cash From Operations, 2 Yr. CAGR %	18.22	-21.4	-55.35	-29.81	192.4
Capital Expenditures, 2 Yr. CAGR %	-26.4	-38.5	1.25K	163.63	-90.06
Levered Free Cash Flow, 2 Yr. CAGR %	19.63	-8.36	35.68	-23.92	-24.87
Unlevered Free Cash Flow, 2 Yr. CAGR %	19.63	-8.36	35.68	-23.92	-24.87
Compound Annual Growth Rate Over Three Years
Total Revenues, 3 Yr. CAGR %	11.64	3.84	-8.1	-9.56	-5.29
Gross Profit, 3 Yr. CAGR %	12.08	4.32	-7.51	-8.29	-4.08
EBITDA, 3 Yr. CAGR %	22.15	-29.35	-28.63	-10.26	150.86
EBITA, 3 Yr. CAGR %	23.33	-31.41	-25.53	-8.54	163.89
EBIT, 3 Yr. CAGR %	24.71	-34.78	-19.99	-1.2	187.99
Earnings From Cont. Operations, 3 Yr. CAGR %	9.56	-62.13	-52.45	-17.08	227.53
Net Income, 3 Yr. CAGR %	9.56	-62.13	-52.45	-17.08	227.53
Normalized Net Income, 3 Yr. CAGR %	18.68	-26.98	-57.33	-12.08	156.5
Diluted EPS Before Extra, 3 Yr. CAGR %	6.51	-62.64	-54.33	-17.14	224
Accounts Receivable, 3 Yr. CAGR %	4.1	8.32	4.38	13.2	17.65
Inventory, 3 Yr. CAGR %	1.03	1.55	1.97	18.97	15.76
Net Property, Plant and Equip., 3 Yr. CAGR %	41.01	-9.98	-14.44	0.78	7.19
Total Assets, 3 Yr. CAGR %	21.37	9.45	6.72	3.39	-8.31
Tangible Book Value, 3 Yr. CAGR %	24.56	9.45	-0.63	-4.34	-25.53
Common Equity, 3 Yr. CAGR %	22.39	8.66	6.33	2.17	-14.7
Cash From Operations, 3 Yr. CAGR %	28.9	-11.37	-37.24	-37.39	50.69
Capital Expenditures, 3 Yr. CAGR %	14.47	-12.66	283.25	104.47	13.7
Levered Free Cash Flow, 3 Yr. CAGR %	17.36	-1.36	32.09	-27.05	15.13
Unlevered Free Cash Flow, 3 Yr. CAGR %	17.36	-1.36	32.09	-27.05	15.13
Compound Annual Growth Rate Over Five Years
Total Revenues, 5 Yr. CAGR %	12.97	9.03	-0.05	-2.64	-2.73
Gross Profit, 5 Yr. CAGR %	14.91	9.34	0.6	-1.55	-2.01
EBITDA, 5 Yr. CAGR %	46.35	-8.23	-15.02	4.82	36.58
EBITA, 5 Yr. CAGR %	41.71	-12.34	-12.6	6.55	38.08
EBIT, 5 Yr. CAGR %	17.82	-17.84	-8.49	12.26	40.88
Earnings From Cont. Operations, 5 Yr. CAGR %	12.98	-16.62	-36.96	-30.38	56.7
Net Income, 5 Yr. CAGR %	12.98	-16.62	-36.96	-30.38	56.7
Normalized Net Income, 5 Yr. CAGR %	18.8	-6.04	-37.28	0.6	34.76
Diluted EPS Before Extra, 5 Yr. CAGR %	6.95	-20.66	-39.16	-31	54.87
Accounts Receivable, 5 Yr. CAGR %	9.88	13.75	3.48	12.3	12.69
Inventory, 5 Yr. CAGR %	5.64	7.29	6.42	8.65	7.67
Net Property, Plant and Equip., 5 Yr. CAGR %	19.82	15.64	15.65	-3.37	-1.53
Total Assets, 5 Yr. CAGR %	23.06	25.29	14.32	6.29	-1.73
Tangible Book Value, 5 Yr. CAGR %	36.18	37.02	11.04	1.82	-13.41
Common Equity, 5 Yr. CAGR %	30.91	32.03	14.62	5.56	-6.31
Cash From Operations, 5 Yr. CAGR %	51.29	74.39	-15.65	-19.27	16.15
Capital Expenditures, 5 Yr. CAGR %	-17.07	-16.41	207.42	35.87	-11.08
Levered Free Cash Flow, 5 Yr. CAGR %	73.49	3.18	24.37	-11.09	5.09
Unlevered Free Cash Flow, 5 Yr. CAGR %	73.49	3.18	24.37	-11.09	5.09