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References Pacira BioSciences, Inc., a Delaware corporation, is the holding company for our California operating subsidiary named Pacira Pharmaceuticals, Inc. In March 2007, we acquired Pacira Pharmaceuticals, Inc. from SkyePharma Holdings, Inc. (now Vectura Group Limited, a subsidiary of Molex Asia Holdings, Ltd.), or Skyepharma (the Skyepharma Acquisition ).
Operating margin is thin at 2.64%. Limited cushion if revenue slows or costs rise, not the profile of a wide-moat business.
Revenue grew 3.6%, steady but not accelerating. Free cash flow declined 24% despite revenue growth, conversion is weakening.
Free cash flow declined 24% versus the prior year, cash generation momentum has weakened.
Profitability & Returns
Revenue (TTM)
$735M
▲ +3.6% YoY
Net Income (TTM)
$5M
▲ +107.1% YoY
Op. Margin
3.28%
▲ +13.1pp YoY
ROIC
1.36%
▲ +5.2pp YoY
Cash Flow & Balance Sheet
FCF (TTM)
$133M
▼ -23.5% YoY
Op. Cash Flow (TTM)
$142M
▼ -19.7% YoY
Net Debt
$209M
Cash & Equiv.
$202M
5Y CAGR: +11.1%
5Y CAGR: +28.4%
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