$AUPH

Aurinia Pharmaceuticals Inc.

CIK:0001600620|SEC Filings

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE INCOME (Unaudited) - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025	Jun. 30, 2026	Jun. 30, 2025
Revenue
Total revenue	$ 83,220	$ 70,008	$ 160,925	$ 132,473
Operating expenses
Cost of revenue	6,555	7,115	13,060	15,689
Selling, general and administrative	23,508	26,018	45,537	46,357
Research and development	13,050	7,432	20,520	13,175
Restructuring	0	114	0	1,647
Other (income) expense, net	(6,234)	9,246	(5,955)	13,675
Total operating expenses	36,879	49,925	73,162	90,543
Income from operations	46,341	20,083	87,763	41,930
Interest income	3,393	3,190	6,908	6,759
Interest expense	(948)	(1,117)	(1,960)	(2,184)
Net income before income taxes	48,786	22,156	92,711	46,505
Income tax expense	11,372	643	20,942	1,648
Net income	37,414	21,513	71,769	44,857
Other comprehensive income:
Unrealized loss on available-for-sale securities	(97)	(80)	(378)	(258)
Comprehensive income	$ 37,317	$ 21,433	$ 71,391	$ 44,599
Earnings per share
Basic (in usd per share)	$ 0.29	$ 0.16	$ 0.55	$ 0.33
Diluted (in usd per share)	$ 0.28	$ 0.16	$ 0.53	$ 0.32
Shares used in computing earnings per share
Basic (in shares)	130,081	134,873	131,221	136,878
Diluted (in shares)	133,530	137,526	135,518	140,193
Share-based compensation expense	$ 2,839	$ 5,440	$ 1,973	$ 2,031
Net product sales
Revenue
Total revenue	79,412	66,574	152,975	126,545
License, collaboration and royalty revenue
Revenue
Total revenue	$ 3,808	$ 3,434	$ 7,950	$ 5,928

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025
Cash flows from operating activities:
Net income	$ 71,769	$ 44,857
Adjustments to reconcile net income to cash flows from operating activities:
Deferred income tax	20,387	0
Share-based compensation	1,973	2,031
Amortization and depreciation	9,650	9,720
Foreign exchange (gain) loss on revaluation of Monoplant finance lease liability	(977)	9,265
Net amortization of premiums and discounts on investments	(4,200)	(5,219)
Other, net	(2,082)	4,132
Net changes in operating assets and liabilities:
Accounts receivable, net	316	(3,547)
Inventory	539	(7,275)
Prepaid expenses and other current assets	(5,031)	5,106
Other noncurrent operating assets	0	730
Accounts payable	(3,451)	(1,875)
Accrued expenses and other liabilities	(5,031)	(17,136)
Deferred revenue	1,705	5,147
Operating lease liabilities	(441)	(395)
Cash flows from operating activities	85,126	45,541
Cash flows from investing activities:
Proceeds from the sale and maturities of investments	209,000	255,285
Purchases of investments	(150,805)	(237,411)
Net cash and cash equivalents acquired in acquisition of Kezar	5,212	0
Purchases of property, equipment and intangible assets	(39)	(115)
Cash flows from investing activities	63,368	17,759
Cash flows from financing activities:
Purchase of common shares under Share Repurchase Plan	(74,880)	(89,485)
Payments of principal portion of Monoplant finance lease liability	(7,058)	(6,201)
Proceeds from issuance of common shares for equity awards	59,154	10,590
Proceeds from issuance of common shares under ESPP	363	401
Tax withholding payments related to net settlements of equity awards	(26,454)	(9,036)
Cash flows from financing activities	(48,875)	(93,731)
Net increase (decrease) in cash, cash equivalents and restricted cash	99,619	(30,431)
Cash, cash equivalents and restricted cash, beginning of the period	80,213	83,433
Cash, cash equivalents and restricted cash, end of the period	179,832	53,002
Reconciliation of cash, cash equivalents and restricted cash to the condensed consolidated balance sheets:
Cash and cash equivalents	179,732	52,914
Restricted cash	100	88
Total cash, cash equivalents and restricted cash	179,832	53,002
Supplemental cash flow information:
Cash paid for taxes	2,355	1,066
Non-cash investing and financing activities:
Accrual of contingent value rights liability in acquisition of Kezar	3,700	0
Accrual of tax withholding payments related to exercise of stock options	$ 1,734	$ 0

CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Jun. 30, 2026	Dec. 31, 2025
Current assets:
Cash, cash equivalents and restricted cash	$ 179,832	$ 80,213
Short-term investments	263,291	317,784
Accounts receivable, net	41,138	41,454
Inventory	45,151	45,690
Prepaid expenses and deposits	10,531	5,746
Other current assets	1,381	1,080
Total current assets	541,324	491,967
Deferred tax assets, net	178,935	176,194
Finance right-of-use lease assets	65,152	73,865
Intangible assets, net	3,378	3,761
Operating right-of-use lease assets	1,518	3,596
Property and equipment, net	1,862	2,111
Other noncurrent assets	93	93
Total assets	792,262	751,587
Current liabilities:
Accounts payable	1,735	3,313
Accrued expenses	64,112	66,621
Finance lease liabilities, current portion	16,479	16,523
Deferred revenue	10,593	3,720
Operating lease liabilities, current portion	1,705	1,067
Other current liabilities	5,269	2,480
Total current liabilities	99,893	93,724
Finance lease liabilities, less current portion	43,943	52,322
Deferred tax benefits	23,128	0
Deferred revenue, less current portion	7,480	12,648
Operating lease liabilities, less current portion	2,009	4,900
Other noncurrent liabilities	945	6,662
Total liabilities	177,398	170,256
Commitments and contingencies (Note 5)
Shareholders' equity
Common shares — no par value, Unlimited shares authorized, 132,907 and 132,323 shares issued and outstanding at June 30, 2026 and December 31, 2025, respectively	1,117,248	1,120,035
Additional paid-in capital	76,192	111,263
Accumulated other comprehensive loss	(977)	(599)
Accumulated deficit	(577,599)	(649,368)
Total shareholders' equity	614,864	581,331
Total liabilities and shareholders' equity	$ 792,262	$ 751,587