ATRS · Antares Pharma, Inc. - Financials
Annual line items from SEC XBRL filings, sourced from EDGAR's Company Facts API with fallback to the quarterly Financial Statement Data Sets. See issuer overview for Form 4 activity and 10-K signals.
Income Statement
| Line item | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|
| Revenue | $183.98M | $149.60M | $123.86M | $52.22M | $54.52M | $52.22M |
| Cost of Revenue | - | - | $50.48M | $28.82M | $27.47M | $28.82M |
| Gross Profit | - | - | $73.39M | $32.49M | $27.05M | $23.41M |
| R&D | $14.50M | $10.12M | $10.62M | $12.33M | $13.15M | $21.13M |
| SG&A | $73.86M | $62.76M | $61.77M | $36.76M | $30.35M | $26.39M |
| Total Operating Expenses | $156.64M | $135.98M | - | - | $43.50M | $47.52M |
| D&A | $3.90M | $2.63M | $2.56M | $2.72M | $2.10M | $1.86M |
| Operating Income | $65.93M | $13.62M | $992.0K | ($4.10M) | ($16.45M) | ($24.12M) |
| Interest Expense | $3.61M | $3.79M | $3.55M | $2.67M | $1.42M | - |
| Income Tax | $0 | ($46.28M) | - | - | - | $100.0K |
| Net Income | $46.29M | $56.20M | ($2.03M) | ($6.51M) | ($16.74M) | ($24.34M) |
| EPS - Basic | $0.27 | $0.34 | - | - | - | - |
| EPS - Diluted | $0.26 | $0.33 | - | - | - | - |
Balance Sheet
| Line item | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|
| Cash & Equivalents | $65.91M | $53.14M | $23.20M | $27.89M | $26.56M | $32.90M |
| Accounts Receivable | $56.70M | $42.22M | $35.07M | $18.98M | $11.88M | $9.07M |
| Inventory | $11.54M | $18.22M | $16.00M | $11.35M | $9.28M | $5.33M |
| Accounts Payable | $17.06M | $16.19M | $12.90M | $11.13M | $5.96M | $7.88M |
| Current Assets | $174.27M | $126.59M | $108.45M | $71.31M | $55.54M | $45.26M |
| Total Assets | $257.50M | $212.53M | $132.75M | $88.28M | $74.34M | $66.33M |
| Current Liabilities | $58.93M | $63.20M | $32.41M | $27.19M | $15.73M | $19.91M |
| Long-term Debt | $18.24M | $24.67M | $40.40M | $22.08M | $24.86M | - |
| Total Liabilities | $81.75M | $93.42M | $78.25M | $49.28M | $40.79M | $21.11M |
| Stockholders' Equity | $175.76M | $119.11M | $54.50M | $39.00M | $33.55M | $45.22M |
| Retained Earnings | ($176.34M) | ($222.63M) | ($278.83M) | ($276.80M) | ($270.29M) | ($253.45M) |
Cash Flow
| Line item | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|
| Operating Cash Flow | $36.62M | $21.32M | ($10.62M) | ($15.20M) | ($23.09M) | ($15.19M) |
| Investing Cash Flow | ($3.85M) | $8.17M | ($20.00M) | $9.99M | ($4.33M) | $9.99M |
| Financing Cash Flow | ($19.99M) | $447.0K | $25.92M | $17.0K | $26.27M | $17.5K |
| CapEx | $6.62M | $9.62M | $2.35M | $854.0K | $1.17M | $4.88M |
| Free Cash Flow | $30.00M | $11.71M | ($12.96M) | ($16.05M) | ($24.26M) | ($20.07M) |
Ratios
| Metric | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|
| Profitability | ||||||
| Gross margin | - | - | 59.2% | 62.2% | 49.6% | 44.8% |
| Operating margin | 35.8% | 9.1% | 0.8% | -7.9% | -30.2% | -46.2% |
| EBITDA margin | 38.0% | 10.9% | 2.9% | -2.6% | -26.3% | -42.6% |
| Net margin | 25.2% | 37.6% | -1.6% | -12.5% | -30.7% | -46.6% |
| Free cash flow margin | 16.3% | 7.8% | -10.5% | -30.7% | -44.5% | -38.4% |
| FCF / Net income | 0.65 | 0.21 | 6.40 | 2.46 | 1.45 | 0.82 |
| R&D / Revenue | 7.9% | 6.8% | 8.6% | 23.6% | 24.1% | 40.5% |
| SG&A / Revenue | 40.1% | 42.0% | 49.9% | 70.4% | 55.7% | 50.5% |
| Effective tax rate | 0.0% | -466.5% | - | - | - | - |
| Return on assets | 18.0% | 26.4% | -1.5% | -7.4% | -22.5% | -36.7% |
| Return on equity | 26.3% | 47.2% | -3.7% | -16.7% | -49.9% | -53.8% |
| Return on invested capital | 34.0% | 9.5% | - | - | - | - |
| Liquidity | ||||||
| Current ratio | 2.96 | 2.00 | 3.35 | 2.62 | 3.53 | 2.27 |
| Quick ratio | 2.76 | 1.71 | 2.85 | 2.20 | 2.94 | 2.01 |
| Cash ratio | 1.12 | 0.84 | 0.72 | 1.03 | 1.69 | 1.65 |
| Leverage | ||||||
| Debt / Equity | 0.10 | 0.21 | 0.74 | 0.57 | 0.74 | - |
| Debt / Assets | 0.07 | 0.12 | 0.30 | 0.25 | 0.33 | - |
| Debt / EBITDA | 0.26 | 1.52 | 11.38 | - | - | - |
| Interest coverage | 18.3x | 3.6x | 0.3x | -1.5x | -11.6x | - |
| Equity multiplier | 1.47 | 1.78 | 2.44 | 2.26 | 2.22 | 1.47 |
| Liabilities / Assets | 0.32 | 0.44 | 0.59 | 0.56 | 0.55 | 0.32 |
| Efficiency | ||||||
| Asset turnover | 0.71 | 0.70 | 0.93 | 0.59 | 0.73 | 0.79 |
| Inventory turnover | - | - | 3.15 | 2.54 | 2.96 | 5.41 |
| Days sales outstanding | 112d | 103d | 103d | 133d | 80d | 63d |
| Days inventory outstanding | - | - | 116d | 144d | 123d | 67d |
| Days payable outstanding | - | - | 93d | 141d | 79d | 100d |
| Cash conversion cycle | - | - | 126d | 135d | 124d | 31d |
| Valuation | ||||||
| P / E | - | - | - | - | - | - |
| P / B | - | - | - | - | - | - |
| P / S | - | - | - | - | - | - |
| EV / EBITDA | - | - | - | - | - | - |
| Growth | ||||||
| Revenue growth (YoY) | 23.0% | 20.8% | 137.2% | -4.2% | 4.4% | 14.4% |
| Revenue CAGR (3y) | 52.2% | 40.0% | 33.4% | 4.6% | 27.2% | 36.3% |
| Revenue CAGR (5y) | 28.6% | 26.8% | 36.1% | 20.4% | 19.3% | 44.4% |
| Gross profit growth (YoY) | - | - | 125.9% | 20.1% | 15.6% | -10.7% |
| Operating income growth (YoY) | 384.1% | 1272.9% | - | 75.1% | 31.8% | -17.9% |
| Net income growth (YoY) | -17.6% | - | 68.9% | 61.1% | 31.2% | -17.8% |
| EPS growth (YoY) | -21.2% | - | - | - | - | - |
| EPS CAGR (3y) | - | - | - | - | - | - |
| EPS CAGR (5y) | - | - | - | - | - | - |
| FCF growth (YoY) | 156.3% | - | 19.2% | 33.8% | -20.9% | 40.7% |
| FCF CAGR (5y) | - | - | - | - | - | - |
| Book value growth (YoY) | 47.6% | 118.6% | 39.7% | 16.3% | -25.8% | -32.6% |
Sales by segment
From XBRL dimensional facts in the 10-K period ending 2021-12-31.
Product / service
$310.65M totalProduct$126.67M · 40.8%
Proprietary Product$80.02M · 25.8%
Partnered Product$46.65M · 15.0%
Royalty$37.69M · 12.1%
Licensing And Development Revenue$19.62M · 6.3%
Geographic
$183.98M totalUS$178.29M · 96.9%
Europe$5.69M · 3.1%
Stability scores
Altman Z′
FY 2021 · bankruptcy risk
2.15
Grey zone
Private-firm variant - uses book equity instead of market cap. > 2.90 safe · 1.23-2.90 grey · < 1.23 distress.
Piotroski F-score
FY 2021 · 9-point quality
5/9
Neutral
- ✓Net income positive
- ✓Operating cash flow positive
- ✗ROA improved YoY
- ✗Cash flow > net income
- ✓Long-term debt decreased
- ✓Current ratio improved
- ✗No share dilution
- -Gross margin improved
- ✓Asset turnover improved
Peer comparison
Same SIC group: Surgical & Medical Instruments & Apparatus
Comparing ANTARES PHARMA against the 5 most active filers in the same SIC group.