$ANIP
ANI Pharmaceuticals Inc

2021 Q2 Form 10-Q Financial Statement

#000102302421000017 Filed on August 06, 2021

View on sec.gov

Income Statement

Concept 2021 Q2 2020 Q2 2020 Q1
Revenue $48.63M $48.47M $49.77M
YoY Change 0.32% -10.83% -5.89%
Cost Of Revenue $22.31M $20.70M $21.80M
YoY Change 7.82% 32.39% 48.07%
Gross Profit $26.31M $27.78M $27.97M
YoY Change -5.27% -28.28% -26.71%
Gross Profit Margin 54.11% 57.3% 56.19%
Selling, General & Admin $18.82M $21.21M $13.68M
YoY Change -11.28% 49.51% 3.0%
% of Gross Profit 71.53% 76.37% 48.92%
Research & Development $2.805M $3.035M $6.344M
YoY Change -7.58% -47.43% 45.07%
% of Gross Profit 10.66% 10.93% 22.68%
Depreciation & Amortization $11.32M $11.20M $11.18M
YoY Change 1.13% 18.22% -30.55%
% of Gross Profit 43.04% 40.32% 39.98%
Operating Expenses $21.63M $24.25M $20.03M
YoY Change -10.82% 21.48% 13.42%
Operating Profit -$15.55M -$11.31M -$7.842M
YoY Change 37.55% -221.69% -278.15%
Interest Expense -$2.531M -$2.356M -$2.032M
YoY Change 7.43% -30.83% -39.42%
% of Operating Profit
Other Income/Expense, Net -$67.00K -$116.0K $10.00K
YoY Change -42.24% -352.17% -107.69%
Pretax Income -$18.15M -$13.80M -$9.900M
YoY Change 31.53% -333.9% -1178.43%
Income Tax -$4.000M -$1.400M -$2.900M
% Of Pretax Income
Net Earnings -$14.11M -$12.34M -$7.011M
YoY Change 14.35% -287.33% -1661.47%
Net Earnings / Revenue -29.01% -25.45% -14.09%
Basic Earnings Per Share -$1.17 -$1.03 -$0.59
Diluted Earnings Per Share -$1.17 -$1.03 -$0.59
COMMON SHARES
Basic Shares Outstanding 12.09M 11.97M 11.90M
Diluted Shares Outstanding 12.09M 11.97M 11.90M

Balance Sheet

Concept 2021 Q2 2020 Q2 2020 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $24.26M $27.70M $20.40M
YoY Change -12.42% -31.77% -46.6%
Cash & Equivalents $24.26M $27.70M $20.41M
Short-Term Investments
Other Short-Term Assets $4.881M $3.100M $3.000M
YoY Change 57.45% -6.06% -28.57%
Inventory $67.63M $52.56M $52.90M
Prepaid Expenses $4.881M $3.117M
Receivables $92.65M $73.16M $82.40M
Other Receivables $2.375M $0.00 $0.00
Total Short-Term Assets $191.8M $156.5M $158.7M
YoY Change 22.52% -7.32% 4.52%
LONG-TERM ASSETS
Property, Plant & Equipment $40.33M $39.94M $40.40M
YoY Change 0.99% 2.4% 5.14%
Goodwill $3.580M $3.580M
YoY Change 0.0%
Intangibles $180.2M $205.7M
YoY Change -12.42%
Long-Term Investments
YoY Change
Other Assets $720.0K $1.095M $64.00M
YoY Change -34.25% -97.18% 3263.11%
Total Long-Term Assets $288.4M $308.8M $323.5M
YoY Change -6.63% 11.1% 14.49%
TOTAL ASSETS
Total Short-Term Assets $191.8M $156.5M $158.7M
Total Long-Term Assets $288.4M $308.8M $323.5M
Total Assets $480.2M $465.4M $482.2M
YoY Change 3.17% 4.14% 11.01%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $12.98M $14.21M $12.50M
YoY Change -8.67% 44.99% 18.83%
Accrued Expenses $11.58M $3.066M $21.80M
YoY Change 277.76% -85.94% 609.17%
Deferred Revenue $100.0K $100.0K
YoY Change 0.0%
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due $15.18M $12.33M $11.90M
YoY Change 23.14% -89.73% 266.94%
Total Short-Term Liabilities $89.45M $79.09M $79.40M
YoY Change 13.11% -52.59% -51.9%
LONG-TERM LIABILITIES
Long-Term Debt $189.5M $177.9M $188.1M
YoY Change 6.55% 170.74% 182.85%
Other Long-Term Liabilities $9.263M $17.08M $13.60M
YoY Change -45.77% 151.18% 337.44%
Total Long-Term Liabilities $198.8M $195.0M $201.7M
YoY Change 1.96% 168.91% 189.76%
TOTAL LIABILITIES
Total Short-Term Liabilities $89.45M $79.09M $79.40M
Total Long-Term Liabilities $198.8M $195.0M $201.7M
Total Liabilities $288.2M $274.0M $281.1M
YoY Change 5.18% 14.52% 19.78%
SHAREHOLDERS EQUITY
Retained Earnings -$18.99M -$1.771M
YoY Change 972.39%
Common Stock $1.000K $1.000K
YoY Change 0.0%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $191.9M $191.3M $201.2M
YoY Change
Total Liabilities & Shareholders Equity $480.2M $465.4M $482.2M
YoY Change 3.17% 4.14% 11.01%

Cashflow Statement

Concept 2021 Q2 2020 Q2 2020 Q1
OPERATING ACTIVITIES
Net Income -$14.11M -$12.34M -$7.011M
YoY Change 14.35% -287.33% -1661.47%
Depreciation, Depletion And Amortization $11.32M $11.20M $11.18M
YoY Change 1.13% 18.22% -30.55%
Cash From Operating Activities $239.0K $20.88M $1.710M
YoY Change -98.86% 339.58% -88.03%
INVESTING ACTIVITIES
Capital Expenditures -$930.0K -$720.0K $1.539M
YoY Change 29.17% -55.83% -13.3%
Acquisitions
YoY Change
Other Investing Activities -$21.02M -$2.120M -$56.01M
YoY Change 891.37% -8.62% 202.59%
Cash From Investing Activities -$21.95M -$2.840M -$57.55M
YoY Change 672.78% -28.1% 183.69%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 20.90M -10.74M 13.89M
YoY Change -294.63% -779.75% 1051.82%
NET CHANGE
Cash From Operating Activities 239.0K 20.88M 1.710M
Cash From Investing Activities -21.95M -2.840M -57.55M
Cash From Financing Activities 20.90M -10.74M 13.89M
Net Change In Cash -805.0K 7.300M -41.95M
YoY Change -111.03% 206.72% 776.04%
FREE CASH FLOW
Cash From Operating Activities $239.0K $20.88M $1.710M
Capital Expenditures -$930.0K -$720.0K $1.539M
Free Cash Flow $1.169M $21.60M $171.0K
YoY Change -94.59% 238.56% -98.63%

Facts In Submission

Frame Concept Type Concept / XBRL Key Value Unit
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ANI PHARMACEUTICALS, INC
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OtherComprehensiveIncomeLossCashFlowHedgeGainLossAfterReclassificationAndTax
-2360000
us-gaap Other Comprehensive Income Loss Cash Flow Hedge Gain Loss After Reclassification And Tax
OtherComprehensiveIncomeLossCashFlowHedgeGainLossAfterReclassificationAndTax
6004000
us-gaap Other Comprehensive Income Loss Cash Flow Hedge Gain Loss After Reclassification And Tax
OtherComprehensiveIncomeLossCashFlowHedgeGainLossAfterReclassificationAndTax
-9178000
CY2021Q2 us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
-401000
CY2020Q2 us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
-2360000
us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
6004000
us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
-9178000
CY2021Q2 us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
-14507000
CY2020Q2 us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
-14696000
us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
-8016000
us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
-28525000
CY2020Q1 us-gaap Stockholders Equity
StockholdersEquity
201171000
CY2020Q2 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
5736000
CY2020Q2 us-gaap Treasury Stock Value Acquired Cost Method
TreasuryStockValueAcquiredCostMethod
1035000
CY2020Q2 us-gaap Stock Issued During Period Value Share Based Compensation
StockIssuedDuringPeriodValueShareBasedCompensation
168000
CY2020Q2 us-gaap Other Comprehensive Income Loss Cash Flow Hedge Gain Loss After Reclassification And Tax
OtherComprehensiveIncomeLossCashFlowHedgeGainLossAfterReclassificationAndTax
-2360000
CY2020Q2 us-gaap Net Income Loss
NetIncomeLoss
-12336000
CY2020Q2 us-gaap Stockholders Equity
StockholdersEquity
191344000
CY2021Q1 us-gaap Stockholders Equity
StockholdersEquity
203712000
CY2021Q2 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
2844000
CY2021Q2 us-gaap Treasury Stock Value Acquired Cost Method
TreasuryStockValueAcquiredCostMethod
468000
CY2021Q2 us-gaap Stock Issued During Period Value Share Based Compensation
StockIssuedDuringPeriodValueShareBasedCompensation
337000
CY2021Q2 us-gaap Stock Issued During Period Value Restricted Stock Award Forfeitures
StockIssuedDuringPeriodValueRestrictedStockAwardForfeitures
1000
CY2021Q2 us-gaap Other Comprehensive Income Loss Cash Flow Hedge Gain Loss After Reclassification And Tax
OtherComprehensiveIncomeLossCashFlowHedgeGainLossAfterReclassificationAndTax
-401000
CY2021Q2 us-gaap Net Income Loss
NetIncomeLoss
-14106000
CY2021Q2 us-gaap Stockholders Equity
StockholdersEquity
191917000
CY2019Q4 us-gaap Stockholders Equity
StockholdersEquity
212791000
us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
8160000
us-gaap Treasury Stock Value Acquired Cost Method
TreasuryStockValueAcquiredCostMethod
1523000
us-gaap Stock Issued During Period Value Share Based Compensation
StockIssuedDuringPeriodValueShareBasedCompensation
449000
us-gaap Other Comprehensive Income Loss Cash Flow Hedge Gain Loss After Reclassification And Tax
OtherComprehensiveIncomeLossCashFlowHedgeGainLossAfterReclassificationAndTax
-9178000
us-gaap Net Income Loss
NetIncomeLoss
-19347000
CY2020Q2 us-gaap Stockholders Equity
StockholdersEquity
191344000
CY2020Q4 us-gaap Stockholders Equity
StockholdersEquity
195700000
us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
4713000
us-gaap Treasury Stock Value Acquired Cost Method
TreasuryStockValueAcquiredCostMethod
816000
us-gaap Stock Issued During Period Value Share Based Compensation
StockIssuedDuringPeriodValueShareBasedCompensation
337000
us-gaap Stock Issued During Period Value Restricted Stock Award Forfeitures
StockIssuedDuringPeriodValueRestrictedStockAwardForfeitures
1000
us-gaap Other Comprehensive Income Loss Cash Flow Hedge Gain Loss After Reclassification And Tax
OtherComprehensiveIncomeLossCashFlowHedgeGainLossAfterReclassificationAndTax
6004000
us-gaap Net Income Loss
NetIncomeLoss
-14020000
CY2021Q2 us-gaap Stockholders Equity
StockholdersEquity
191917000
us-gaap Net Income Loss
NetIncomeLoss
-14020000
us-gaap Net Income Loss
NetIncomeLoss
-19347000
us-gaap Share Based Compensation
ShareBasedCompensation
4713000
us-gaap Share Based Compensation
ShareBasedCompensation
8160000
us-gaap Deferred Income Taxes And Tax Credits
DeferredIncomeTaxesAndTaxCredits
-6676000
us-gaap Deferred Income Taxes And Tax Credits
DeferredIncomeTaxesAndTaxCredits
-14100000
us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
22222000
us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
22381000
us-gaap Research And Development In Process
ResearchAndDevelopmentInProcess
0
us-gaap Research And Development In Process
ResearchAndDevelopmentInProcess
3753000
us-gaap Amortization Of Financing Costs And Discounts
AmortizationOfFinancingCostsAndDiscounts
1141000
us-gaap Amortization Of Financing Costs And Discounts
AmortizationOfFinancingCostsAndDiscounts
705000
us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
-3145000
us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
1033000
us-gaap Increase Decrease In Inventories
IncreaseDecreaseInInventories
-2823000
us-gaap Increase Decrease In Inventories
IncreaseDecreaseInInventories
-4055000
us-gaap Increase Decrease In Prepaid Expense
IncreaseDecreaseInPrepaidExpense
-1202000
us-gaap Increase Decrease In Prepaid Expense
IncreaseDecreaseInPrepaidExpense
-878000
us-gaap Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
1688000
us-gaap Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
665000
anip Increase Decrease In Royalty Payable
IncreaseDecreaseInRoyaltyPayable
-1719000
anip Increase Decrease In Royalty Payable
IncreaseDecreaseInRoyaltyPayable
920000
us-gaap Increase Decrease In Income Taxes
IncreaseDecreaseInIncomeTaxes
-6281000
us-gaap Increase Decrease In Income Taxes
IncreaseDecreaseInIncomeTaxes
9362000
anip Increase Decrease Accrued Government Rebates
IncreaseDecreaseAccruedGovernmentRebates
914000
anip Increase Decrease Accrued Government Rebates
IncreaseDecreaseAccruedGovernmentRebates
816000
anip Increase Decrease In Returned Goods Reserve
IncreaseDecreaseInReturnedGoodsReserve
4754000
anip Increase Decrease In Returned Goods Reserve
IncreaseDecreaseInReturnedGoodsReserve
3408000
anip Increase Decrease Of Accrued Expenses Compensation And Others
IncreaseDecreaseOfAccruedExpensesCompensationAndOthers
7003000
anip Increase Decrease Of Accrued Expenses Compensation And Others
IncreaseDecreaseOfAccruedExpensesCompensationAndOthers
1967000
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
20909000
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
22590000
us-gaap Payments To Acquire Intangible Assets
PaymentsToAcquireIntangibleAssets
21057000
us-gaap Payments To Acquire Intangible Assets
PaymentsToAcquireIntangibleAssets
58130000
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
1630000
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
2264000
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-22687000
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-60394000
us-gaap Repayments Of Other Long Term Debt
RepaymentsOfOtherLongTermDebt
5206000
us-gaap Repayments Of Other Long Term Debt
RepaymentsOfOtherLongTermDebt
3279000
us-gaap Proceeds From Lines Of Credit
ProceedsFromLinesOfCredit
24000000
us-gaap Proceeds From Lines Of Credit
ProceedsFromLinesOfCredit
15000000
us-gaap Repayments Of Lines Of Credit
RepaymentsOfLinesOfCredit
0
us-gaap Repayments Of Lines Of Credit
RepaymentsOfLinesOfCredit
7500000
us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
336000
us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
449000
us-gaap Payments Of Debt Issuance Costs
PaymentsOfDebtIssuanceCosts
141000
us-gaap Payments Of Debt Issuance Costs
PaymentsOfDebtIssuanceCosts
0
anip Payment For Treasury Stock Purchases For Restricted Stock Vestings And Forfeitures
PaymentForTreasuryStockPurchasesForRestrictedStockVestingsAndForfeitures
816000
anip Payment For Treasury Stock Purchases For Restricted Stock Vestings And Forfeitures
PaymentForTreasuryStockPurchasesForRestrictedStockVestingsAndForfeitures
1523000
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
18173000
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
3147000
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Excluding Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect
16395000
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Excluding Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect
-34657000
CY2020Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
12867000
CY2019Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
67361000
CY2021Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
29262000
CY2020Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
32704000
CY2020Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
7864000
CY2019Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
62332000
CY2020Q4 us-gaap Restricted Cash And Cash Equivalents Noncurrent
RestrictedCashAndCashEquivalentsNoncurrent
5003000
CY2019Q4 us-gaap Restricted Cash And Cash Equivalents Noncurrent
RestrictedCashAndCashEquivalentsNoncurrent
5029000
CY2020Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
12867000
CY2019Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
67361000
CY2021Q2 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
24261000
CY2020Q2 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
27702000
CY2021Q2 us-gaap Restricted Cash And Cash Equivalents Noncurrent
RestrictedCashAndCashEquivalentsNoncurrent
5001000
CY2020Q2 us-gaap Restricted Cash And Cash Equivalents Noncurrent
RestrictedCashAndCashEquivalentsNoncurrent
5002000
CY2021Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
29262000
CY2020Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
32704000
us-gaap Interest Paid Net
InterestPaidNet
3953000
us-gaap Interest Paid Net
InterestPaidNet
3541000
us-gaap Income Taxes Paid
IncomeTaxesPaid
8360000
us-gaap Income Taxes Paid
IncomeTaxesPaid
523000
us-gaap Debt Issuance Costs Incurred During Noncash Or Partial Noncash Transaction
DebtIssuanceCostsIncurredDuringNoncashOrPartialNoncashTransaction
81000
us-gaap Debt Issuance Costs Incurred During Noncash Or Partial Noncash Transaction
DebtIssuanceCostsIncurredDuringNoncashOrPartialNoncashTransaction
0
us-gaap Capital Expenditures Incurred But Not Yet Paid
CapitalExpendituresIncurredButNotYetPaid
119000
us-gaap Capital Expenditures Incurred But Not Yet Paid
CapitalExpendituresIncurredButNotYetPaid
161000
us-gaap Nature Of Operations
NatureOfOperations
<p style="font-family:'Times New Roman','Times','serif';font-size:10pt;font-weight:bold;margin:0pt 0pt 12pt 18pt;">Overview</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt 0pt 12pt 18pt;">ANI Pharmaceuticals, Inc. and its consolidated subsidiaries, ANIP Acquisition Company and ANI Pharmaceuticals Canada Inc. (together, “ANI,” the “Company,” “we,” “us,” or “our”) is an integrated specialty pharmaceutical company focused on delivering value to our customers by developing, manufacturing, and marketing high quality branded and generic prescription pharmaceuticals. We focus on niche and high barrier to entry opportunities, including controlled substances, oncology products (anti-cancer), hormones and steroids, and complex formulations. Our three pharmaceutical manufacturing facilities, of which two are located in Baudette, Minnesota and one is located in Oakville, Ontario, are together capable of producing oral solid dose products, as well as semi-solids, liquids and topicals, controlled substances, and potent products that must be manufactured in a fully-contained environment.</p>
us-gaap Contract With Customer Liability Revenue Recognized
ContractWithCustomerLiabilityRevenueRecognized
100000
CY2021Q2 us-gaap Contract With Customer Liability Revenue Recognized
ContractWithCustomerLiabilityRevenueRecognized
100000
CY2020Q2 us-gaap Contract With Customer Liability Revenue Recognized
ContractWithCustomerLiabilityRevenueRecognized
300000
us-gaap Contract With Customer Liability Revenue Recognized
ContractWithCustomerLiabilityRevenueRecognized
200000
us-gaap Use Of Estimates
UseOfEstimates
<p style="font-family:'Times New Roman','Times','serif';font-size:10pt;font-weight:bold;margin:0pt 0pt 12pt 18pt;">Use of Estimates</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt 0pt 0pt 18pt;">The preparation of financial statements in conformity with U.S. GAAP requires us to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amount of revenues and expenses during the reporting period. In the accompanying unaudited interim condensed consolidated financial statements, estimates are </p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt 0pt 12pt 18pt;">used for, but not limited to, stock-based compensation, revenue recognition, allowance for credit losses, variable consideration determined based on accruals for chargebacks, administrative fees and rebates, government rebates, returns and other allowances, allowance for inventory obsolescence, valuation of financial instruments and intangible assets, accruals for contingent liabilities, fair value of long-lived assets, income tax provision or benefit, deferred taxes and valuation allowance, determination of right-of-use assets and lease liabilities, purchase price allocations, and the depreciable lives of long-lived assets. Because of the uncertainties inherent in such estimates, actual results may differ from those estimates. Management periodically evaluates estimates used in the preparation of the financial statements for reasonableness.</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt 0pt 12pt 18pt;">We are subject to risks and uncertainties as a result of the novel coronavirus (“COVID-19”) pandemic. We are unable to predict the impact that the COVID-19 pandemic will continue have on our future business, financial condition, and results of operations due to numerous uncertainties. These uncertainties include the occurrence of recurring outbreaks and their severity and the duration of the pandemic, the actions taken to contain the pandemic or mitigate its impact and the direct and indirect economic effects of the pandemic and containment measures, among others. We remain unable to predict the future impact on our estimates and assumptions. There was not a material impact to these estimates or assumptions in our consolidated financial statements as of and for the three and six months ended June 30, 2021 and 2020. Actual results could differ from those estimates, which may change our estimates in future periods. We continue to closely monitor the impact of the COVID-19 pandemic on our business.</p>
us-gaap Number Of Reportable Segments
NumberOfReportableSegments
1
CY2020Q2 us-gaap Interest Expense Debt
InterestExpenseDebt
2362000
us-gaap Interest Expense Debt
InterestExpenseDebt
4985000
us-gaap Interest Expense Debt
InterestExpenseDebt
4412000
CY2021Q2 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
48625000
CY2020Q2 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
48470000
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
103146000
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
98244000
CY2021Q2 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
40334000
CY2020Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
41269000
CY2021Q2 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
48625000
CY2020Q2 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
48470000
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
103146000
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
98244000
CY2021Q2 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
48625000
CY2020Q2 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
48470000
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
103146000
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
98244000
us-gaap Contract With Customer Performance Obligation Satisfied In Previous Period
ContractWithCustomerPerformanceObligationSatisfiedInPreviousPeriod
10300000
us-gaap Contract With Customer Performance Obligation Satisfied In Previous Period
ContractWithCustomerPerformanceObligationSatisfiedInPreviousPeriod
-5700000
CY2021Q2 us-gaap Contract With Customer Liability Current
ContractWithCustomerLiabilityCurrent
100000
CY2021Q2 us-gaap Interest Expense Debt Excluding Amortization
InterestExpenseDebtExcludingAmortization
2386000
CY2020Q2 us-gaap Interest Expense Debt Excluding Amortization
InterestExpenseDebtExcludingAmortization
2206000
us-gaap Interest Expense Debt Excluding Amortization
InterestExpenseDebtExcludingAmortization
4690000
us-gaap Interest Expense Debt Excluding Amortization
InterestExpenseDebtExcludingAmortization
4099000
CY2021Q2 us-gaap Amortization Of Financing Costs
AmortizationOfFinancingCosts
176000
CY2020Q2 us-gaap Amortization Of Financing Costs
AmortizationOfFinancingCosts
180000
us-gaap Amortization Of Financing Costs
AmortizationOfFinancingCosts
352000
us-gaap Amortization Of Financing Costs
AmortizationOfFinancingCosts
362000
CY2021Q2 us-gaap Interest Costs Capitalized Adjustment
InterestCostsCapitalizedAdjustment
31000
CY2020Q2 us-gaap Interest Costs Capitalized Adjustment
InterestCostsCapitalizedAdjustment
24000
us-gaap Interest Costs Capitalized Adjustment
InterestCostsCapitalizedAdjustment
57000
us-gaap Interest Costs Capitalized Adjustment
InterestCostsCapitalizedAdjustment
49000
CY2021Q2 us-gaap Interest Expense Debt
InterestExpenseDebt
2531000
us-gaap Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
-14020000
us-gaap Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
-19347000
CY2021Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
12085000
CY2020Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
11967000
CY2021Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
12085000
CY2020Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
11967000
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
12045000
CY2021Q2 us-gaap Net Income Loss
NetIncomeLoss
-14106000
CY2020Q2 us-gaap Net Income Loss
NetIncomeLoss
-12336000
CY2021Q2 us-gaap Net Income Loss
NetIncomeLoss
-14106000
CY2020Q2 us-gaap Net Income Loss
NetIncomeLoss
-12336000
us-gaap Net Income Loss
NetIncomeLoss
-14020000
us-gaap Net Income Loss
NetIncomeLoss
-19347000
us-gaap Net Income Loss
NetIncomeLoss
-14020000
us-gaap Net Income Loss
NetIncomeLoss
-19347000
CY2021Q2 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
-14106000
CY2020Q2 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
-12336000
CY2021Q2 us-gaap Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
-14106000
CY2020Q2 us-gaap Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
-12336000
us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
-14020000
us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
-19347000
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
11935000
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
12045000
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
11935000
CY2021Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
12085000
CY2020Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
11967000
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
12045000
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
11935000
CY2021Q2 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-1.17
CY2020Q2 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-1.03
CY2021Q2 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-1.17
CY2020Q2 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-1.03
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-1.16
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-1.62
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-1.16
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-1.62
CY2021Q2 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
1700000
CY2020Q2 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
1000000.0
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
1700000
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
1400000
CY2021Q2 us-gaap Inventory Raw Materials
InventoryRawMaterials
38877000
CY2020Q4 us-gaap Inventory Raw Materials
InventoryRawMaterials
41591000
CY2021Q2 us-gaap Retail Related Inventory Packaging And Other Supplies
RetailRelatedInventoryPackagingAndOtherSupplies
3347000
CY2020Q4 us-gaap Retail Related Inventory Packaging And Other Supplies
RetailRelatedInventoryPackagingAndOtherSupplies
3194000
CY2021Q2 us-gaap Inventory Work In Process
InventoryWorkInProcess
631000
CY2020Q4 us-gaap Inventory Work In Process
InventoryWorkInProcess
886000
CY2021Q2 us-gaap Inventory Finished Goods
InventoryFinishedGoods
30267000
CY2020Q4 us-gaap Inventory Finished Goods
InventoryFinishedGoods
20363000
CY2021Q2 us-gaap Inventory Gross
InventoryGross
73122000
CY2020Q4 us-gaap Inventory Gross
InventoryGross
66034000
CY2021Q2 us-gaap Inventory Valuation Reserves
InventoryValuationReserves
5488000
CY2020Q4 us-gaap Inventory Valuation Reserves
InventoryValuationReserves
5231000
CY2021Q2 us-gaap Inventory Net
InventoryNet
67634000
CY2020Q4 us-gaap Inventory Net
InventoryNet
60803000
us-gaap Goodwill Impairment Loss
GoodwillImpairmentLoss
0
us-gaap Goodwill Impairment Loss
GoodwillImpairmentLoss
0
CY2021Q2 us-gaap Finite Lived Intangible Assets Gross
FiniteLivedIntangibleAssetsGross
366568000
CY2021Q2 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
186369000
CY2020Q4 us-gaap Finite Lived Intangible Assets Gross
FiniteLivedIntangibleAssetsGross
355170000
CY2020Q4 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
166659000
CY2020 us-gaap Finite Lived Intangible Asset Useful Life
FiniteLivedIntangibleAssetUsefulLife
P9Y4M24D
CY2021Q2 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
10100000
CY2020Q2 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
10000000.0
us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
19700000
us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
20100000
us-gaap Impairment Of Intangible Assets Finitelived
ImpairmentOfIntangibleAssetsFinitelived
0
us-gaap Impairment Of Intangible Assets Finitelived
ImpairmentOfIntangibleAssetsFinitelived
0
CY2021Q2 us-gaap Finite Lived Intangible Assets Amortization Expense Remainder Of Fiscal Year
FiniteLivedIntangibleAssetsAmortizationExpenseRemainderOfFiscalYear
20117000
CY2021Q2 us-gaap Finite Lived Intangible Assets Amortization Expense Next Twelve Months
FiniteLivedIntangibleAssetsAmortizationExpenseNextTwelveMonths
36828000
CY2021Q2 us-gaap Finite Lived Intangible Assets Amortization Expense Year Two
FiniteLivedIntangibleAssetsAmortizationExpenseYearTwo
36080000
CY2021Q2 us-gaap Finite Lived Intangible Assets Amortization Expense Year Three
FiniteLivedIntangibleAssetsAmortizationExpenseYearThree
33103000
CY2021Q2 us-gaap Finite Lived Intangible Assets Amortization Expense Year Four
FiniteLivedIntangibleAssetsAmortizationExpenseYearFour
29754000
CY2021Q2 anip Finite Lived Intangible Assets Amortization Expense Year Five And After Year Five
FiniteLivedIntangibleAssetsAmortizationExpenseYearFiveAndAfterYearFive
24317000
CY2021Q2 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
180199000
CY2021Q2 us-gaap Deferred Tax Assets Valuation Allowance
DeferredTaxAssetsValuationAllowance
300000
CY2021Q2 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.223
CY2021Q2 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
-18200000
CY2020Q2 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
-1400000
CY2020Q2 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.105
CY2020Q2 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
-13800000
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
-4100000
us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.224
us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
-18100000
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
-4300000
us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.182
us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
-23600000
CY2021Q2 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P2Y8M12D
CY2021Q2 us-gaap Operating Lease Cost
OperatingLeaseCost
43000
CY2020Q2 us-gaap Operating Lease Cost
OperatingLeaseCost
57000
us-gaap Operating Lease Cost
OperatingLeaseCost
92000
us-gaap Operating Lease Cost
OperatingLeaseCost
109000
CY2021Q2 us-gaap Variable Lease Cost
VariableLeaseCost
13000
CY2020Q2 us-gaap Variable Lease Cost
VariableLeaseCost
14000
us-gaap Variable Lease Cost
VariableLeaseCost
21000
us-gaap Variable Lease Cost
VariableLeaseCost
29000
CY2021Q2 us-gaap Lease Cost
LeaseCost
56000
CY2020Q2 us-gaap Lease Cost
LeaseCost
71000
us-gaap Lease Cost
LeaseCost
113000
us-gaap Lease Cost
LeaseCost
138000
CY2021Q2 us-gaap Lessee Operating Lease Liability Payments Remainder Of Fiscal Year
LesseeOperatingLeaseLiabilityPaymentsRemainderOfFiscalYear
70000
CY2021Q2 us-gaap Lessee Operating Lease Liability Payments Due Next Twelve Months
LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths
127000
CY2021Q2 us-gaap Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
82000
CY2021Q2 us-gaap Lessee Operating Lease Liability Payments Due Year Three
LesseeOperatingLeaseLiabilityPaymentsDueYearThree
56000
CY2021Q2 anip Lessee Operating Lease Liability To Be Paid Year Four And After
LesseeOperatingLeaseLiabilityToBePaidYearFourAndAfter
42000
CY2021Q2 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
377000
CY2021Q2 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
26000
CY2021Q2 us-gaap Operating Lease Liability
OperatingLeaseLiability
351000
CY2021Q2 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
128000
CY2021Q2 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
223000
CY2021Q2 us-gaap Interest Rate Derivative Liabilities At Fair Value
InterestRateDerivativeLiabilitiesAtFairValue
9040000
CY2020Q4 us-gaap Interest Rate Derivative Liabilities At Fair Value
InterestRateDerivativeLiabilitiesAtFairValue
14109000

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