CORCEPT THERAPEUTICS INC CORT
We are a commercial-stage company engaged in the discovery and development of medications to treat severe endocrinologic, oncologic, metabolic and neurologic disorders by modulating the effects of the hormone cortisol.
Cortisol plays a significant role in the body's response to stress and is essential for survival. Cortisol influences metabolism and the immune system and contributes to emotional stability. Cortisol levels follow a diurnal rhythm that is essential to health, peaking upon awakening and decreasing during the day. Insufficient cortisol activity may lead to dehydration, hypotension, shock, fatigue and hypoglycemia. Excessive cortisol activity, known as hypercortisolism, may lead to hypertension, diabetes, impaired glucose tolerance, obesity, fatty liver disease, depressed mood, psychosis, wasting of the arms and legs, edema, fatigue, insomnia and other problems.
Valuation FY2025 figures against the last close
Annual financial statements
Income statement
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $761.4M | $675.0M | $482.4M | $401.9M | $366.0M | $353.9M | $306.5M | $251.2M | $159.2M | $81.3M |
| Cost of revenue | $13.0M | $10.9M | $6.5M | $5.4M | $5.3M | $5.6M | $5.5M | $5.2M | $3.6M | $2.1M |
| Gross profit | $748.4M | $664.2M | $475.9M | $396.5M | $360.7M | $348.3M | $301.0M | $246.0M | $155.6M | $79.3M |
| R&D | $254.9M | $246.9M | $184.4M | $131.0M | $113.9M | $114.8M | $89.0M | $75.2M | $40.4M | $23.8M |
| SG&A | $448.7M | $280.3M | $184.3M | $152.8M | $122.4M | $105.3M | $100.4M | $81.3M | $62.4M | $45.2M |
| Total operating expenses | $716.6M | $538.1M | $375.1M | $289.2M | $241.5M | $225.7M | $194.9M | $161.8M | $106.3M | $71.1M |
| Operating income | $44.8M | $137.0M | $107.3M | $112.6M | $124.5M | $128.2M | $111.6M | $89.5M | $52.9M | $10.2M |
| Pre-tax income | $66.5M | $161.5M | $124.6M | $116.2M | $125.0M | $131.6M | $116.7M | $92.2M | $52.8M | $8.1M |
| Income tax | $33.2M | $20.3M | $18.4M | $14.8M | $12.5M | $25.6M | $22.5M | $16.7M | $76.3M | $0 |
| Net income | $99.7M | $141.2M | $106.1M | $101.4M | $112.5M | $106.0M | $94.2M | $75.4M | $129.1M | $8.1M |
| EPS, basic | 0.95 | 1.35 | 1.02 | 0.95 | 0.97 | 0.92 | 0.82 | 0.65 | 1.14 | 0.07 |
| EPS, diluted | 0.82 | 1.23 | 0.94 | 0.87 | 0.89 | 0.85 | 0.77 | 0.60 | 1.04 | 0.07 |
| Shares, diluted (wtd. avg.) | $120.0M | $113.5M | $111.7M | $116.0M | $126.0M | $124.2M | $122.6M | $126.7M | $124.5M | $116.1M |
Balance sheet
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash and equivalents | $120.5M | $127.7M | $135.6M | $66.3M | $77.6M | $76.2M | $31.3M | $41.6M | $31.1M | $51.5M |
| Short-term investments | $251.7M | $255.7M | $232.7M | $365.3M | $145.9M | $364.5M | $244.7M | $165.1M | $57.7M | $0 |
| Receivables | $59.8M | $54.0M | $41.1M | $31.1M | $27.6M | $26.2M | $19.9M | $17.6M | $15.3M | $9.9M |
| Inventory | $12.9M | $12.4M | $7.7M | $6.1M | $5.0M | $4.9M | $5.4M | $4.7M | $4.6M | $2.3M |
| Total current assets | $485.5M | $471.6M | $458.6M | $499.3M | $266.5M | $478.5M | $307.4M | $236.8M | $124.2M | $65.7M |
| Property, plant and equipment | $1.9M | $2.7M | $195.0K | $633.0K | $1.0M | $1.7M | $1.1M | $655.0K | $518.0K | $205.0K |
| Total assets | $836.7M | $840.6M | $621.5M | $583.4M | $423.8M | $571.7M | $412.3M | $311.7M | $220.5M | $68.8M |
| Accounts payable | $40.4M | $15.4M | $17.4M | $12.0M | $6.9M | $10.6M | $7.5M | $8.3M | $8.6M | $2.3M |
| Short-term debt | — | — | — | — | — | — | — | — | $0 | $14.7M |
| Total current liabilities | $166.1M | $140.8M | $104.5M | $72.5M | $47.5M | $47.5M | $38.8M | $35.6M | $29.6M | $27.4M |
| Long-term debt | — | — | — | — | — | — | — | — | $0 | $0 |
| Total liabilities | $188.8M | $161.0M | $114.8M | $81.6M | $48.0M | $48.4M | $41.1M | $35.8M | $29.6M | — |
| Retained earnings | $643.4M | $543.7M | $402.5M | $296.4M | $195.0M | $82.5M | -$23.6M | -$117.7M | -$193.1M | -$322.3M |
| Total equity | $647.8M | $679.6M | $506.7M | $501.8M | $375.8M | $523.3M | $371.2M | $275.9M | $191.0M | $41.4M |
Cash flow
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | $142.0M | $198.3M | $126.7M | $120.3M | $167.9M | $152.0M | $136.1M | $115.7M | $60.9M | $18.4M |
| Depreciation and amortisation | $1.1M | $795.0K | $1.0M | $1.3M | $1.1M | $525.0K | $703.0K | $236.0K | $106.0K | $87.0K |
| Stock-based compensation | $84.5M | $61.4M | $48.9M | $42.4M | $42.9M | $33.5M | $29.3M | $23.7M | $13.4M | $7.1M |
| Capital expenditure | $211.0K | $2.2M | $139.0K | $413.0K | $469.0K | $1.2M | $1.1M | $298.0K | $419.0K | $194.0K |
| Investing cash flow | $69.8M | -$177.6M | $90.9M | -$114.3M | $136.1M | -$119.3M | -$117.8M | -$90.8M | -$73.5M | -$194.0K |
| Financing cash flow | -$220.4M | -$28.3M | -$148.7M | -$17.3M | -$302.6M | $12.2M | -$28.6M | -$14.3M | -$8.0M | -$7.1M |
| Buybacks | $172.9M | $15.7M | $0 | $0 | — | $9.9M | $31.0M | $23.7M | $0 | $0 |
Figures as tagged in each year's own filing, in US dollars. A year restated by a later filing shows the restated figure. Capital expenditure, dividends and buybacks are cash out, shown positive. A line the filer does not report is not listed. Latest from accession 0001628280-26-025735.
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