Portola Pharmaceuticals Inc Income Statement - Real Clear Investing

Selected Year:

31-Dec
2019

Gross receipts in the form of cash (great!) and promises to pay (Account Receivables - not so great as some of them will never be collected but reality of business!) from all its customers

100%

	2011 31-Dec	2012 31-Dec	2013 31-Dec	2014 31-Dec	2015 31-Dec	2016 31-Dec	2017 31-Dec	2018 31-Dec	Selected Year: 2019 31-Dec	Last Twelve Months LTM 2020 31-Mar	Last Quarter Annualized LQA 2020 31-Mar
Product revenue	-	-	-	-	-	-	-	24,117	111,644	116,919	102,548
Collaboration and license revenue	-	-	-	-	-	35,504	22,546	16,013	4,996	3,941	3,008
Total Revenue	$45,679	$45,679	$45,679	$45,679	$45,679	$35,504	$22,546	$40,130	$116,640	$120,860	$105,556

Selected Year:

31-Dec
2019

Cost (labor, materials, depreciation, overhead, etc) for delivering service or manufacturing a product that business sells

332.6%

	2011 31-Dec	2012 31-Dec	2013 31-Dec	2014 31-Dec	2015 31-Dec	2016 31-Dec	2017 31-Dec	2018 31-Dec	Selected Year: 2019 31-Dec	Last Twelve Months LTM 2020 31-Mar	Last Quarter Annualized LQA 2020 31-Mar
Cost of sales	-	-	-	-	45,679	-	415	18,081	44,378	41,548	17,280
Research and development	45,679	45,679	45,679	45,679	45,679	246,854	203,701	216,205	124,627	115,132	104,356
Selling general and administrative	-	-	45,679	45,679	45,679	58,235	91,109	151,164	218,919	220,303	217,672
General and administrative	45,679	45,679	-	-	-	-	-	-	-	-	-
Total operating expenses	45,679	45,679	45,679	45,679	45,679	305,089	295,225	385,450	387,924	376,983	339,308

Selected Year:

31-Dec
2019

Income after excluding Operating Expenses from Total Revenue

232.6%

Key metric that shows earnings potential of the company's business model

	2011 31-Dec	2012 31-Dec	2013 31-Dec	2014 31-Dec	2015 31-Dec	2016 31-Dec	2017 31-Dec	2018 31-Dec	Selected Year: 2019 31-Dec	Last Twelve Months LTM 2020 31-Mar	Last Quarter Annualized LQA 2020 31-Mar
Operating income	$45,679	$45,679	$45,679	$45,679	$45,679	($269,585)	($272,679)	($345,320)	($271,284)	($256,123)	($233,752)

Selected Year:

31-Dec
2019

Cost usually unrelated to delivering service or manufacturing a product that business sells

	2011 31-Dec	2012 31-Dec	2013 31-Dec	2014 31-Dec	2015 31-Dec	2016 31-Dec	2017 31-Dec	2018 31-Dec	Selected Year:	Last Twelve Months LTM 2020 31-Mar	Last Quarter Annualized LQA 2020 31-Mar
Total non-operating income (expense)	45,679	45,679	45,679	45,679	45,679	-	-	-	-	-	-

Selected Year:

31-Dec
2019

Income after excluding Operating and Non-operating Expenses from Total Revenue

232.6%

Another income metric but unlike Operating Income it is closer to the ultimate income metric - Net Income by removing expenses that are not related to earning Revenue as they are supposed to be accidental and transitory

	2011 31-Dec	2012 31-Dec	2013 31-Dec	2014 31-Dec	2015 31-Dec	2016 31-Dec	2017 31-Dec	2018 31-Dec	Selected Year: 2019 31-Dec	Last Twelve Months LTM 2020 31-Mar	Last Quarter Annualized LQA 2020 31-Mar
EBIT	$45,679	$45,679	$45,679	$45,679	$45,679	($269,585)	($272,679)	($345,320)	($271,284)	($256,123)	($233,752)

Selected Year:

31-Dec
2019

Expenses driven mostly by company management's choices, nature of business (capital intensive vs not) about financing (debt vs equity) and legal structure

18.5%

	2011 31-Dec	2012 31-Dec	2013 31-Dec	2014 31-Dec	2015 31-Dec	2016 31-Dec	2017 31-Dec	2018 31-Dec	Selected Year: 2019 31-Dec	Last Twelve Months LTM 2020 31-Mar	Last Quarter Annualized LQA 2020 31-Mar
Interest expense	45,679	-	-	-	45,679	(61)	(11,603)	(18,740)	(31,290)	(32,956)	(32,588)
Interest and other income or expenses	-	-	-	-	45,679	1,533	(1,338)	13,516	9,698	(2,186)	(8,744)
Interest and other income	45,679	45,679	45,679	45,679	-	-	-	-	-	5,974	-
Income before income taxes	-	-	45,679	45,679	45,679	-	-	-	-	-	-
Income tax expense or benefit TEST - ODD	-	-	45,679	45,679	45,679	-	-	-	-	-	-

Selected Year:

31-Dec
2019

Ultimate measure of Income - Net result after excluding all expenses from Total Revenue

251.1%

It is a residue that is left from Total Revenue after paying all kind of expenses and belongs to all equity holders in the company. Some of these shareholders such Non-controlling interest or Preferred equity gets their share before Common shareholders

	2011 31-Dec	2012 31-Dec	2013 31-Dec	2014 31-Dec	2015 31-Dec	2016 31-Dec	2017 31-Dec	2018 31-Dec	Selected Year: 2019 31-Dec	Last Twelve Months LTM 2020 31-Mar	Last Quarter Annualized LQA 2020 31-Mar
Net income (loss)	$45,679	$45,679	$45,679	$45,679	$45,679	($268,113)	($285,620)	($350,544)	($292,876)	($283,551)	($275,084)
Net income (loss) attributable to non-controlling interests Net income (loss) attributable to non-controlling interests	-	-	45,679	45,679	45,679	(930)	(470)	321	2,213	2,273	-
Net income (loss) attributable to Company	-	-	45,679	45,679	45,679	(269,043)	(286,090)	(350,223)	(290,663)	(281,278)	(275,084)
Net income (loss) attributable to common stock - basic Net income (loss) attributable to common stock - basic	-	45,679	-	-	-	-	-	-	-	-	-
Diluted	-	45,679	-	-	-	-	-	-	-	-	-

Basic shares outstanding as of certain dates reported by Company on its annual and quarterly filings, these numbers are NOT used calculation of basic EPS. They help to see share issuance by company in perspective

	2011 31-Dec	2012 31-Dec	2014 28-Feb	2015 27-Feb	2016 22-Feb	2017 21-Feb	2018 21-Feb	2019 15-Feb	2020 20-Feb	2020 01-May	2020 01-May
Common	-	-	45,678,795	45,678,795	45,678,795	56,557,396	65,392,310	66,821,167	78,080,365	78,483,617	78,483,617

Selected Year:

31-Dec
2019

Net Income / Shares Outstanding = EPS before dilution or Basic EPS; Net Income/ ( Shares Outstanding + potentially available shares from conversion of various option instruments)

	2011 31-Dec	2012 31-Dec	2013 31-Dec	2014 31-Dec	2015 31-Dec	2016 31-Dec	2017 31-Dec	2018 31-Dec	Selected Year: 2019 31-Dec	Last Twelve Months LTM 2020 31-Mar	Last Quarter Annualized LQA 2020 31-Mar
Net Income per basic share	$45,678,795.00	$45,678,795.00	$45,678,795.00	$45,678,795.00	$45,678,795.00	($4.76)	($4.81)	($5.31)	($4.06)	$219,317,156.20	($3.52)
Net Income per diluted share	$45,678,795.00	$45,678,795.00	$45,678,795.00	$45,678,795.00	$45,678,795.00	($4.76)	($4.81)	($5.31)	($4.06)	$219,317,156.20	($3.52)

Portola Pharmaceuticals Inc

Short Description

Income Statement

Product revenue

Collaboration and license revenue

Selling general and administrative

Research and development

Cost of sales

Operating Income

EBIT

Interest and other income or expenses

Interest expense

Net income (loss)