Press release
Royalty Pharma Reports Q4 and Full Year 2022 Results
Net cash provided by operating activities (GAAP) of $570 million and Adjusted Cash Receipts(1) (non-GAAP) of $1,064 million in Q4 2022Announced transactions
About this update from Royalty Pharma Plc
[{"type":"text","content":"Net cash provided by operating activities (GAAP) of $570 million and Adjusted Cash Receipts(1) (non-GAAP) of $1,064 million in Q4 2022Announced transactions of up to $3.5 billion in 2022, including $2.0 billion in upfront paymentsFull year 2023 guidance: Adjusted Cash Receipts(1) (non-GAAP) of $2,375 to $2,475 million; excludes potential zavegepant approval milestone of $475 million NEW YORK, Feb. 15, 2023 (GLOBE NEWSWIRE) -- Royalty Pharma plc (Nasdaq: RPRX) today reported financial results for the fourth quarter and full year 2022 and introduced full year 2023 guidance for Adjusted Cash Receipts(1) (non-GAAP financial measure). “Royalty Pharma delivered strong performance in 2022,” said Pablo Legorreta, Royalty Pharma’s founder and Chief Executive Officer. “We reported impressive growth and deployed substantial capital in value-enhancing transactions, further strengthening our leadership position in funding life science innovation. We expanded our talented team to support our robust deal pipeline and our substantial growth opportunities. With strong fundamental tailwinds underpinning our business, we expect to deliver attractive, long-term compounding growth while transforming patient lives.” Fourth quarter and full year 2022 GAAP financial results demonstrate robust operating cash flow growth Net cash provided by operating activities increased 16% to $570 million in the quarter and 6% to $2,144 million for the full year; Net cash provided by (used in) investing activities of $415 million in the quarter, ($1,029 million) for the full year; Net cash used in financing activities of $266 million in the quarter, $945 million for the full year.Total income and other revenues of $566 million in the quarter; $2,237 million for the full year. Fourth quarter and full year 2022 non-GAAP financial results show strong double-digit growth Adjusted Cash Receipts(1) increased 96% to $1,064 million in the quarter and 31% to $2,789 million for the full year, driven primarily by the $458 million accelerated payment from Pfizer’s acquisition of Biohaven, strong portfolio performance and new royalty acquisitions.Adjusted EBITDA(2) increased 99% to $983 million in the quarter and 32% to $2,566 million for the full year.Adjusted Cash Flow(3) grew 146% to $946 million in the quarter and 42% to $2,235 million for the full year.Prior to Biohaven accel...