Financials Operating Results 2017 Revenue: 2017 2018 Q4 Q1 Q2 Q3 LTM (in $MMs, except per share data) License and milestone revenue 7,500 - - - - - Royalty revenue 2,483 664 585 668 1,126 3,043 Operating expenses: Amortization of intangible asset 544 91 91 1,273 3,638 5,093 Selling and marketing 16,638 2,959 4,279 3,521 3,096 13,855 Total operating expenses 62,580 13,821 14,192 18,312 17,680 64,005 Interest expense (income), net 33,231 8,109 7,900 8,696 9,616 34,321 Total interest expense and other expense (income), net 33,302 8,190 8,349 9,218 9,595 35,352 Provision for (benefit from) income taxes 2 5 12 4 36 57 EBITDA adjustments to operating income/loss Stock Compensation 2,942 721 925 1,049 676 3,371 Change in Accounting Estimate (6,037) - - - - - ©2019 VIVUS Inc. All rights reserved | www.vivus.com | Nasdaq: VVUS 23 Recurring EBITDA (6,991) (1,004) (1,210) 1,069 4,786 3,641 Less non-recurring (revenue)/expenses (7,500) - - 2,034 - 2,034 EBITDA 6,546 (1,004) (1,210) (965) 4,786 1,607 Depreciation/amortization 811 155 157 1,338 3,702 5,352 Basic and diluted net loss per share: $ (2.89) $ (0.95) $ (1.00) $ (1.18) $ (0.87) $ (4.01) Net income (loss) $ (30,511) $ (10,075) $ (10,653) $ (12,574) $ (9,223) $ (42,525) Income (loss) before income taxes (30,509) (10,070) (10,641) (12,570) (9,187) (42,468) Other expense (income), net 71 81 449 522 (21) 1,031 Interest and other expense (income): Income (loss) from operations 2,793 (1,880) (2,292) (3,352) 408 (7,116) General and Administrative 23,492 5,722 5,789 8,190 5,360 25,061 Research and development 5,263 1,204 1,403 2,042 2,102 6,751 Cost of goods sold, excluding amortization 16,643 3,845 2,630 3,286 3,484 13,245 Total revenue 65,373 11,941 11,900 14,960 18,088 56,889 Supply revenue 10,407 2,343 1,683 1,042 478 5,546 Net product revenue $ 44,983 $ 8,934 $ 9,632 $ 13,250 $ 16,484 $ 48,300
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