LIGAND PHARMACEUTICALS INCORPORATED
Cash Flow Statement
| Line Item | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 |
|---|---|---|---|---|---|---|---|---|
| Operating Activities | ||||||||
| Net Income | $124.5M | $-4.0M | $52.2M | $-33.4M | $57.1M | $-3.0M | $629.3M | $143.3M |
| Depreciation & Amortization | $33.8M | $35.2M | $36.5M | $51.5M | $51.1M | $25.7M | $18.4M | $12.8M |
| Depreciation | $1.0M | $2.3M | $2.9M | $3.8M | $2.4M | $1.5M | $1.5M | $900.0K |
| Amortization | — | — | — | — | $47.2M | $23.4M | $16.9M | $15.8M |
| Stock-Based Compensation | $46.8M | $41.1M | $25.7M | $60.3M | $38.8M | $30.7M | $24.5M | $20.8M |
| Net Cash from Operating Activities | $49.4M | $97.0M | $49.6M | $137.9M | $78.8M | $54.6M | $-29.3M | $194.1M |
| Investing Activities | ||||||||
| Capital Expenditures | $452.0K | $1.8M | $3.5M | $17.9M | $8.8M | $4.5M | $2.6M | $887.0K |
| Business Acquisitions | $0 | $0 | $10.4M | $0 | $0 | $404.9M | $11.8M | $5.9M |
| Net Cash from Investing Activities | $-377.3M | $-143.7M | $-11.7M | $163.6M | $30.5M | $231.6M | $466.9M | $-423.3M |
| Financing Activities | ||||||||
| Dividends Paid | — | — | — | — | — | — | — | — |
| Stock Repurchases | $15.0M | $0 | $0 | $0 | $0 | $78.0M | $453.0M | $122.9M |
| Net Cash from Financing Activities | $428.2M | $97.1M | $-59.9M | $-276.0M | $-137.8M | $-310.5M | $-485.2M | $328.6M |
| Net Change in Cash | $102.6M | $49.4M | $-22.1M | $25.5M | — | — | — | — |
| Free Cash Flow | $48.9M | $95.2M | $46.1M | $119.9M | $70.0M | $50.1M | $-31.9M | $193.2M |