LIGAND PHARMACEUTICALS INCORPORATED (LGNXZ)

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LIGAND PHARMACEUTICALS INCORPORATED

LGNXZ • CIK 0000886163

(in thousands, except per share data)	FY 2023	FY 2024	FY 2025	TTM
Gain (Loss) on Disposition of Business	$2,121	$0	$0	$0
Operating Income (Loss)	$11,942	$-22,606	$41,002	$94,733
Income (Loss) from Continuing Operations before Income Taxes, Noncontrolling Interest	$63,660	$2,518	$158,960	$237,962
Income Tax Expense (Benefit)	$9,841	$6,550	$34,507	$40,742
Income (Loss) from Continuing Operations, Net of Tax, Attributable to Parent	$53,819	$-4,032	$124,453	$124,453
Income (Loss) from Discontinued Operations, Net of Tax, Attributable to Parent	$-1,665	$-1,665	$-1,665	$0
Net Income (Loss) Attributable to Parent	$52,154	$-4,032	$124,453	$197,220
Weighted Average Number of Shares Outstanding, Basic	17,298,000	18,290,000	19,338,000	20,053,000
Weighted Average Number of Shares Outstanding, Diluted	17,757,000	18,290,000	20,294,000	22,583,000
Revenue from Contract with Customer, Excluding Assessed Tax	$131,314	$167,133	$268,087	$290,542
Cost, Direct Material	$10,512	$11,074	$14,549	$13,280
Cost, Amortization	$33,654	$32,959	$32,708	$32,387
Research and Development Expense	$24,537	$21,425	$81,182	$41,346
General and Administrative Expense	$52,790	$78,654	$92,449	$103,432
Impairment of Intangible Assets (Excluding Goodwill)	—	$30,572	$6,197	$6,197
Derivative, Gain (Loss) on Derivative, Net	—	$-15,055	$0	$833
Operating Costs and Expenses	$121,493	$189,739	$227,085	$195,809
Gain (Loss) on Investments	$46,365	$75,024	$18,433	$45,484
Investment Income, Interest	$7,711	$8,055	$13,659	$24,220
InterestExpenseNonoperating	—	$3,037	$4,715	$6,190
Other Nonoperating Income (Expense)	$-1,952	$-54,918	$-89	$2,547
Nonoperating Income (Expense)	$51,718	$25,124	$117,958	$143,229
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount	4,357,000	1,530,000	3,194,000	6,290,000

(in thousands, except per share data)	FY 2023	FY 2024	FY 2025	TTM
Cash and Cash Equivalents, at Carrying Value	$22,954	$72,307	$174,927	$1,006,702
Short-term Investments	$147,355	$183,858	$558,594	$351,056
Intangible Assets, Net (Excluding Goodwill)	$299,606	$266,648	$225,438	$209,244
Accounts Receivable, after Allowance for Credit Loss, Current	$32,917	$38,376	$59,601	$67,011
Goodwill	$103,370	$105,250	$101,541	$101,541
Inventory, Net	$23,969	$14,114	$9,126	$10,263
Derivative Asset, Noncurrent	$3,200	$10,583	$15,632	$17,913
Income Taxes Receivable, Current	$6,395	$4,073	$1,446	$2,911
Equity Method Investments	$12,595	$0	$46,500	$42,390
Other Assets, Current	$2,657	$16,897	$5,785	$6,191
Other Investments	$35,726	$10,908	$121,451	$114,483
Assets, Current	$237,429	$331,559	$832,271	$1,457,116
Deferred Income Tax Assets, Net	$214	$72	$8,345	$37,119
Other Assets, Noncurrent	$5,923	$6,924	$12,582	$11,841
Assets	$787,216	$941,774	$1,560,637	$2,185,875
Deferred Income, Noncurrent	—	$2,246	$0	$0
Operating Lease, Liability, Noncurrent	$5,755	$5,815	$4,204	$3,777
Senior Notes, Noncurrent	—	—	$446,192	$1,126,594
Deferred Income Tax Liabilities, Net	$31,622	$32,524	$36,019	$21,654
Other Liabilities, Noncurrent	$27,758	$30,163	$16,629	$17,216
Liabilities	$86,303	$111,335	$543,425	$1,218,359
Accounts Payable, Current	$2,427	$5,233	$3,238	$9,405
Accrued Liabilities, Current	$12,467	$27,906	$31,453	$31,867
Taxes Payable, Current	—	$1,199	$1,239	$3,217
Operating Lease, Liability, Current	$403	$1,266	$1,095	$1,082
Other Liabilities, Current	—	—	$135	$955
Liabilities, Current	$16,782	$37,112	$37,447	$46,736
Preferred Stock, Value, Issued	$0	$0	$0	$0
Common Stock, Value, Issued	$18	$20	$20	$20
Additional Paid in Capital	$198,696	$337,377	$400,649	$379,769
Accumulated Other Comprehensive Income (Loss), Net of Tax	$-817	$-5,942	$8,455	$4,476
Retained Earnings (Accumulated Deficit)	$503,016	$498,984	$608,088	$583,251
Stockholders' Equity Attributable to Parent	$700,913	$830,439	$1,017,212	$967,516
Preferred Stock, Shares Authorized	5,000,000	5,000,000	5,000,000	5,000,000
Preferred Stock, Shares Issued	0	0	0	0
Common Stock, Shares Authorized	60,000,000	60,000,000	60,000,000	60,000,000
Common Stock, Shares, Issued	17,556,000	19,106,000	19,774,000	19,920,000
Debt Securities, Available-for-sale, Amortized Cost	$120,874	$150,187	$503,290	$291,586
Debt Securities, Available-for-sale, Accumulated Gross Unrealized Gain, before Tax	$79	$57	$59,197	$63,477
Debt Securities, Available-for-sale, Accumulated Gross Unrealized Loss, before Tax	$5,783	$6,626	$3,893	$4,007
Debt Securities, Available-for-sale	$115,170	$143,618	$558,594	$351,056
Debt Securities, Available-for-Sale, Amortized Cost, Maturity, Allocated and Single Maturity Date, Year One	$55,361	$127,296	$295,974	$295,974
Debt Securities, Available-for-Sale, Amortized Cost, Maturity, Allocated and Single Maturity Date, after Year One Through Five	$13,478	$12,937	$191,583	$191,583
Debt Securities, Held-to-maturity, Maturity, Allocated and Single Maturity Date, Amortized Cost	$68,839	$140,233	$487,557	$270,736
Debt Securities, Available-for-Sale, Fair Value, Maturity, Allocated and Single Maturity Date, Year One	$55,380	$127,331	$296,093	$296,093
Debt Securities, Available-for-Sale, Fair Value, Maturity, Allocated and Single Maturity Date, after Year One Through Five	$13,524	$12,928	$191,707	$191,707
Debt Securities, Available-for-sale, Maturity, Allocated and Single Maturity Date, Fair Value	$68,904	$140,259	$487,800	$270,043
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, Less than 12 Months, Accumulated Loss	$10	$15	$31	$31
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss	$4	$16	$71	$71
Debt Securities, Available-for-sale, Unrealized Loss Position, Accumulated Loss	$14	$31	$102	$700
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, Less than 12 Months	$17,809	$46,370	$76,486	$76,486
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, 12 Months or Longer	$2,949	$7,790	$90,055	$90,055
Debt Securities, Available-for-sale, Unrealized Loss Position	$20,758	$54,160	$166,541	$166,541
Debt Securities, Available-for-sale, Allowance for Credit Loss, Writeoff	—	$0	$0	$0
Equity Securities, FV-NI	$32,200	$40,200	$35,200	$35,200
Gain (Loss) on Investments	$46,365	$75,024	$18,433	$15,623
Cost, Amortization	$33,654	$32,959	$32,708	$16,194
Derivative, Gain (Loss) on Derivative, Net	—	$-15,055	$0	$0
Depreciation	$2,900	$2,300	$1,000	$1,000
Intangible Assets, Net (Including Goodwill)	$402,976	$371,898	$326,979	$310,785
Finite-Lived Intangible Assets, Net	—	—	$225,438	$209,244
Finite-Lived Intangible Asset, Expected Amortization, Year One	$32,800	$32,700	$32,387	$32,387
Finite-Lived Intangible Asset, Expected Amortization, Year Two	$32,800	$32,700	$32,266	$32,266
Finite-Lived Intangible Asset, Expected Amortization, Year Three	$32,800	$32,700	$31,660	$31,660
Finite-Lived Intangible Asset, Expected Amortization, Year Five	$32,800	$32,700	$30,435	$30,435
Property, Plant and Equipment, Net	$15,607	$15,133	$3,571	$3,396
Other Assets, Miscellaneous, Noncurrent	—	—	$1,788	$1,788
Property, Plant and Equipment, Gross	$22,262	$23,401	$10,149	$10,149
Accumulated Depreciation, Depletion and Amortization, Property, Plant, and Equipment	$6,655	$8,268	$6,578	$6,578
Accrued Royalties	$900	$6,500	$16,202	$11,356
Employee-related Liabilities, Current	$4,682	$5,522	$6,388	$4,635
Accrued Professional Fees, Current	$2,394	$4,858	$1,997	$8,239
Sales and Excise Tax Payable, Current	—	—	$1,753	$1,753
Interest and Dividends Payable, Current	—	—	$1,307	$1,307
Contract with Customer, Liability, Current	$1,222	$1,278	$621	$621
Other Accrued Liabilities, Current	$1,766	$3,490	$1,429	$2,573
Contract with Customer, Liability, Noncurrent	$13,700	$15,938	$0	$0
Other Sundry Liabilities, Noncurrent	—	$65	$41	$34

(in thousands, except per share data)	FY 2023	FY 2024	FY 2025	TTM
Effect of Exchange Rate on Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents	—	$-1,171	$2,360	$-995
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents, Period Increase (Decrease), Including Exchange Rate Effect	—	$49,353	$102,620	$939,033
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents	$22,954	$72,307	$174,927	$242,032
Net Income (Loss) Attributable to Parent	$52,154	$-4,032	$124,453	$197,220
Net Cash Provided by (Used in) Operating Activities	$49,577	$97,047	$49,359	$131,714
Payments for Derivative Instrument, Investing Activities	—	$75,000	$13,792	$8,844
Payments to Acquire Property, Plant, and Equipment	$3,521	$1,821	$452	$278
Payments to Acquire Short-term Investments	$126,764	$226,384	$726,713	$863,323
Proceeds from Sale of Short-term Investments	$148,765	$229,367	$159,584	$363,733
Proceeds from Maturities, Prepayments and Calls of Short-term Investments	$45,402	$33,131	$217,700	$374,285
Cash Divested from Deconsolidation	—	—	$8,085	$8,085
Payments to Acquire Equity Method Investments	—	—	$0	$0
Payments to Acquire Other Investments	—	—	$3,847	$5,097
Payments to Acquire Businesses, Net of Cash Acquired	$10,405	$0	$0	$0
Payments to Acquire Business Two, Net of Cash Acquired	—	$91,996	$0	$0
PaymentsToAcquireEquitySecuritiesFvNi	—	$4,196	$303	$303
Proceeds from Derivative Instrument, Investing Activities	—	$7,123	$0	$1,045
Net Cash Provided by (Used in) Investing Activities	$-11,682	$-143,664	$-377,322	$-144,779
Proceeds from Convertible Debt	—	—	$460,000	$1,160,000
Payments of Debt Issuance Costs	$949	$426	$15,528	$35,630
Payments for Derivative Instrument, Financing Activities	—	—	$113,250	$309,040
Proceeds from Issuance of Warrants	—	—	$67,390	$181,490
Payments for Repurchase of Common Stock	—	—	$15,000	$75,000
Proceeds from Issuance of Common Stock	—	$37,140	$0	$0
Repayments of Long-term Debt	$76,854	$0	$0	$0
Finance Lease, Principal Payments	$45	$25	$27	$27
Proceeds from Stock Options Exercised	$22,448	$65,588	$47,501	$51,295
Payment, Tax Withholding, Share-based Payment Arrangement	$4,547	$5,136	$9,599	$22,638
Net Cash Provided by (Used in) Financing Activities	$-59,947	$97,141	$428,223	$950,276
Interest Paid, Excluding Capitalized Interest, Operating Activities	$288	$263	$321	$2,489
Income Taxes Paid	$8,770	$19,206	$7,802	$6,561
Goodwill	$103,370	$105,250	$101,541	$101,541
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Intangible Assets, Other than Goodwill	—	$0	—	$0
Right-of-Use Asset Obtained in Exchange for Operating Lease Liability	—	$1,769	$2,315	$0
Capital Expenditures Incurred but Not yet Paid	$0	$71	$215	$250
Unrealized Gain (Loss) on Investments	$212	$45	$181	$-502
Gain (Loss) on Disposition of Business	$2,121	$0	$0	$0
Depreciation, Depletion and Amortization	$36,521	$35,239	$33,775	$32,914
Equity Securities, FV-NI, Unrealized Gain (Loss)	—	$-25,788	$90,670	$77,168
Income (Loss) from Equity Method Investments	$-1,829	$-12,821	$0	$0
Gain (Loss) on Disposition of Other Assets	—	—	$53,072	$53,072
Accretion (Amortization) of Discounts and Premiums, Investments	$1,318	$1,331	$4,958	$6,054
Amortization of Debt Issuance Costs and Discounts	$240	$486	$1,273	$2,638
Unrealized Gain (Loss) on Derivatives	$250	$-20,010	$1,022	$1,799
Share-based Payment Arrangement, Noncash Expense	$25,743	$41,089	$46,849	$53,265
Increase (Decrease) in Deferred Income Taxes	$-11,696	$15,800	$-22,684	$-31,304
Other Operating Activities, Cash Flow Statement	$739	$7,723	$1,688	$-783
Increase (Decrease) in Accounts Receivable	$2,601	$6,459	$21,737	$25,837
Increase (Decrease) in Inventories	$10,870	$-9,619	$-4,988	$-5,226
Increase (Decrease) in Intangible Assets, Current	$5,000	$0	$0	$0
Increase (Decrease) in Accounts Payable and Accrued Liabilities	$-4,704	$13,903	$5,882	$14,398
Increase (Decrease) in Income Taxes Receivable	$1,781	$-2,310	$-2,667	$-431
Increase (Decrease) in Contract with Customer, Liability	$419	$-1,308	$-578	$0
Increase (Decrease) in Other Operating Assets and Liabilities, Net	$9,865	$-1,291	$3,887	$-3,340

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Import this data to Google Sheets with:

=jivedata("LGNXZ","financials")

Full statements spill as a table. For one cell: =jivedata("LGNXZ","Revenue") or =jivedata("LGNXZ","Revenue","TTM"). Install the Jive Data add-on, then paste into a cell.