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Post by dh4mizzou on Aug 7, 2023 15:54:38 GMT -5
Please remind me again why this revenue is "deferred"?
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Post by tarheelblue004 on Aug 7, 2023 16:01:39 GMT -5
Chris, wondering if the increase in deferred revenue would explain some of the difference between UT's Tyvaso costs and MNKD's revenue?
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Post by LongMNKD on Aug 7, 2023 16:06:40 GMT -5
260-300m per 10k patients on DPI now! they upped it
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Post by tarheelblue004 on Aug 7, 2023 16:14:33 GMT -5
My favorite data point so far: First half of 2022 revenues - $30.8 million First half of 2023 revenues - $89.2 million Looks like Binder likes this view too Neil!  |
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Post by neil36 on Aug 7, 2023 16:22:55 GMT -5
The impressive growth metrics will finally get us showing up
on stock screeners
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Post by ktim on Aug 7, 2023 17:03:21 GMT -5
Even given the MNKD history of post earnings slumps, I am actually surprised that the after hours bump was not more significant given how good the results were. Hopefully more will take notice of it tomorrow.
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Post by prcgorman2 on Aug 7, 2023 17:05:29 GMT -5
“We are excited to report positive income from operations in the second quarter driven by growing patient demand for Tyvaso DPI® and Afrezza as well as manufacturing revenues from Tyvaso DPI,” said Michael Castagna, PharmD, Chief Executive Officer of MannKind Corporation. “In addition, we have optimized our commercial operations supporting Afrezza® and V-Go®, which is expected to get our Endocrine Business Unit to profitability starting in 2024.” I smell $6.00 per share on Tuesday morning I do too! Just not sure which Tuesday morning. 
I'll guess we'll break $5 tomorrow, but doubt we'll hold it. Same folks as drove the PPS down today will still be here tomorrow.
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Post by castlerockchris on Aug 7, 2023 17:09:22 GMT -5
Chris, wondering if the increase in deferred revenue would explain some of the difference between UT's Tyvaso costs and MNKD's revenue? I am not an accountant, but I do not believe it had an impact on UTHR's cost of good sold. My guess would be they have a prepaid or deferred expense on their balance sheet . I believe UTHR's COGS reflects actual expense (inventory) they delivered to pharmacies or sold to pharmacies and recognized as revenue/sales in the current quarter. Hopefully someone with an accounting background can add some color to that. |
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Post by prcgorman2 on Aug 7, 2023 17:10:25 GMT -5
Please remind me again why this revenue is "deferred"? Investopedia says...
"Deferred revenue, also known as unearned revenue, refers to advance payments a company receives for products or services that are to be delivered or performed in the future. The company that receives the prepayment records the amount as deferred revenue, a liability, on its balance sheet." - www.investopedia.com/terms/d/deferredrevenue.asp
So my guess is UTHR paid up front for a bunch of Tyvaso DPI (remember, cash is king), and Stephen Binder is writing it down as the product is delivered.
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Post by castlerockchris on Aug 7, 2023 17:14:39 GMT -5
Please remind me again why this revenue is "deferred"? Again, not an accountant, but I believe this is the inventory of DPI that we have manufactured for UTHR, but they have not taken delivery of at this time. UTHR is very aggressive when it comes to having enough stock on hand and part of that is expecting MNKD to produce enough inventory to cover any issues that may arise in the future regarding production. My understanding is that UTHR has paid for this inventory, meaning we have received the revenue, but cannot recognize it as revenue on our books until UTHR takes delivery. In previous quarterly calls MNKD has said this deferred revenue would be recognized/amortized over the life of the production contract with UTHR. At one point I remember someone mentioning UTHR likes to have a years supply of finished drugs on hand. Don't know if that is true, but it would certainly blow a hole in the "just in time" manufacturing theme of the last two or three decades. HaHaHa. |
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Post by Clement on Aug 7, 2023 18:48:34 GMT -5
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Post by Thundersnow on Aug 7, 2023 18:58:07 GMT -5
That's a different patent. That is for '793 which is the patent for making a DPI version of Trepositnil. This new patent os for PAH-ILD. This would be huge if it's granted. |
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Post by Thundersnow on Aug 7, 2023 19:05:16 GMT -5
Please remind me again why this revenue is "deferred"? Again, not an accountant, but I believe this is the inventory of DPI that we have manufactured for UTHR, but they have not taken delivery of at this time. UTHR is very aggressive when it comes to having enough stock on hand and part of that is expecting MNKD to produce enough inventory to cover any issues that may arise in the future regarding production. My understanding is that UTHR has paid for this inventory, meaning we have received the revenue, but cannot recognize it as revenue on our books until UTHR takes delivery. In previous quarterly calls MNKD has said this deferred revenue would be recognized/amortized over the life of the production contract with UTHR. At one point I remember someone mentioning UTHR likes to have a years supply of finished drugs on hand. Don't know if that is true, but it would certainly blow a hole in the "just in time" manufacturing theme of the last two or three decades. HaHaHa. I have a different take (I too am not an accountant but I play one on TV) but IMO UTHR wants to have a 2 year supply of inventory. MNKD can manufacture and deliver DPI but MNKD can't recognize the revenue until that inventory is SOLD into the channels hence the $60M in Deferred Revenue - Long Term. |
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Post by Clement on Aug 7, 2023 19:28:36 GMT -5
That's a different patent. That is for '793 which is the patent for making a DPI version of Trepositnil. This new patent os for PAH-ILD. This would be huge if it's granted. No, it's not the '793. See the following post concerning PH-ILD. mnkd.proboards.com/post/253590/threadIt is huge. |
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rebby
Researcher
Posts: 79
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Post by rebby on Aug 7, 2023 21:33:48 GMT -5
Q1 Afrezza increases were solid…am I reading the YTD correctly that Afrezza sales would have been flat to get to those percentages?
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