VANDA PHARMACEUTICALS INC. | |||||||||||
Reconciliation of GAAP to Non-GAAP Financial Information | |||||||||||
(in thousands, except for share and per share amounts) | |||||||||||
(unaudited) | |||||||||||
Three Months Ended | |||||||||||
March 31 | March 31 | ||||||||||
2019 | 2018 | ||||||||||
Net income (loss) | $ | (612) | $ | 3,066 | |||||||
Adjustments: | |||||||||||
Stock-based compensation | 3,282 | 3,151 | |||||||||
Intangible asset amortization | 380 | 352 | |||||||||
Non-GAAP Net income | $ | 3,050 | $ | 6,569 | |||||||
Non-GAAP Net income per share, basic | $ | 0.06 | $ | 0.14 | |||||||
Weighted average shares outstanding, basic | 52,752,774 | 46,336,430 | |||||||||
Operating expenses | $ | 49,800 | $ | 41,150 | |||||||
Adjustments: | |||||||||||
Cost of goods sold excluding amortization | (5,113) | (4,560) | |||||||||
Stock-based compensation | (3,282) | (3,151) | |||||||||
Intangible asset amortization | (380) | (352) | |||||||||
Non-GAAP Operating expenses excluding | |||||||||||
Cost of goods sold | $ | 41,025 | $ | 33,087 | |||||||
Research and development | $ | 13,278 | $ | 9,416 | |||||||
Adjustment: | |||||||||||
Stock-based compensation | (728) | (321) | |||||||||
Non-GAAP Research and development | $ | 12,550 | $ | 9,095 | |||||||
Selling, general and administrative | $ | 31,029 | $ | 26,822 | |||||||
Adjustment: | |||||||||||
Stock-based compensation | (2,554) | (2,830) | |||||||||
Non-GAAP Selling, general and administrative | $ | 28,475 | $ | 23,992 | |||||||
