Unilife is a U.S-based medical device and technology company that designs, develops, manufactures and supplies innovative, differentiated delivery systems for injectable drugs, biologics and vaccines. Unilife has a broad portfolio of injectable drug delivery systems including prefilled syringes, auto-injectors, wearable injectors, drug reconstitution delivery systems, ocular delivery systems and novel devices. Unilife builds long-term partnerships with pharmaceutical and biotechnology companies seeking to leverage our products to enable, enhance and differentiate their injectable therapies. Unilife can develop or customize its device technologies to address the specific drug, commercial and patient needs of its pharmaceutical customers. Unilife’s dynamic business environment, advanced operational capabilities, world-class team and stringent quality processes enables the Company to serve the device innovation needs of its pharmaceutical customers with speed, agility and reliability. A state-of-the-art global headquarters and manufacturing facility in York, PA serves as an integrated center for the seamless design, development, production, quality control, regulatory compliance and commercial supply of its products.

Unilife Corporation was founded in 2002 and is headquartered in York, US

CEO

COO

Unilife Corporation has offices in York and King of Prussia

York, US (HQ)

250 Cross Farm Lane

King of Prussia, US

150 S Warner Rd

Unilife Corporation's revenue was reported to be $14.8 m in FY, 2016

USD

## Revenue (FY, 2016) | 14.8 m |

## Revenue growth (FY, 2015 - FY, 2016), % | 13% |

## Net income (FY, 2016) | (100.8 m) |

## EBIT (FY, 2016) | (103.6 m) |

## Market capitalization (20-Apr-2017) | 2.7 m |

## Closing share price (20-Apr-2017) | 0.2 |

## Cash (31-Dec-2016) | 18.7 m |

## EV | (15.4 m) |

Unilife Corporation's current market capitalization is $2.7 m.

- Source: SEC Filings

USD | FY, 2014^{} | FY, 2015^{} | FY, 2016^{} |
---|---|---|---|

## Revenue | 14.7 m | 13.2 m | 14.8 m |

## Revenue growth, % | (10%) | 13% | |

## R&D expense | 34.1 m | 52.5 m | 43.2 m |

## General and administrative expense | 27.9 m | 36.2 m | 43.2 m |

## Operating expense total | 66.1 m | 93.6 m | 118.5 m |

## EBIT | (51.4 m) | (80.4 m) | (103.6 m) |

## EBIT margin, % | (350%) | (611%) | (698%) |

## Interest expense | 7.3 m | 6.4 m | 10.2 m |

## Net Income | (57.9 m) | (90.8 m) | (100.8 m) |

USD | Q3, 2014^{} | Q1, 2014^{} | Q2, 2014^{} | Q3, 2015^{} | Q1, 2015^{} | Q2, 2015^{} | Q3, 2016^{} | Q1, 2016^{} | Q2, 2016^{} |
---|---|---|---|---|---|---|---|---|---|

## Revenue | 1.4 m | 1.4 m | 5.4 m | 2.9 m | 3.2 m | 4.5 m | 822 k | 1.7 m | 2.3 m |

## R&D expense | 8 m | 11 m | 11.3 m | 13.2 m | 16 m | 10.5 m | 9.3 m | 6.8 m | 5.7 m |

## General and administrative expense | 6.6 m | 8.2 m | 9.5 m | 9.1 m | 9.2 m | 8.8 m | 17.6 m | 8.2 m | 6.1 m |

## Operating expense total | 14.7 m | 19.2 m | 20.8 m | 22.3 m | 25.2 m | 19.3 m | 26.9 m | 15 m | 11.8 m |

## EBIT | (14.3 m) | (18.9 m) | (16.7 m) | (20.5 m) | (23.6 m) | (16.2 m) | (54.2 m) | (15 m) | (10.4 m) |

## EBIT margin, % | (1035%) | (1369%) | (308%) | (703%) | (740%) | (361%) | (6593%) | (873%) | (446%) |

## Interest expense | 809 k | 1.1 m | 1.8 m | 1.8 m | 1.7 m | 1.9 m | 2.7 m | 4.3 m | 4.5 m |

## Interest income | (6 k) | ||||||||

## Net Income | (42.6 m) | (22.3 m) | (41.6 m) | (64.8 m) | (25.9 m) | (51.3 m) | (93.1 m) | (18 m) | (33.3 m) |

- Source: SEC Filings

USD | FY, 2014^{} | FY, 2015^{} | FY, 2016^{} |
---|---|---|---|

## Cash | 8.4 m | 12.3 m | 18.7 m |

## Accounts Receivable | 1.9 m | 1.5 m | 374 k |

## Inventories | 142 k | 151 k | 89 k |

## Current Assets | 13.9 m | 17 m | 23.2 m |

## PP&E | 54.6 m | 66.1 m | 54.8 m |

## Goodwill | 11.8 m | 9.7 m | 9.4 m |

## Total Assets | 81.8 m | 94.1 m | 87.7 m |

## Accounts Payable | 3.6 m | 4 m | 2.7 m |

## Total Debt | 669 k | ||

## Current Liabilities | 8.3 m | 14.8 m | 18.7 m |

## Total Liabilities | 174.4 m | ||

## Additional Paid-in Capital | 296.2 m | 364.8 m | 398.9 m |

## Retained Earnings | (293.7 m) | (384.6 m) | (485.4 m) |

## Total Equity | 6.1 m | (17.9 m) | (86.7 m) |

## Debt to Equity Ratio | 0 x | ||

## Debt to Assets Ratio | 0 x | ||

## Financial Leverage | 13.3 x | -5.3 x | -1 x |

USD | Q3, 2014^{} | Q1, 2014^{} | Q2, 2014^{} | Q3, 2015^{} | Q1, 2015^{} | Q2, 2015^{} | Q3, 2016^{} | Q1, 2016^{} | Q2, 2016^{} |
---|---|---|---|---|---|---|---|---|---|

## Cash | 37.7 m | 4.2 m | 8.4 m | 37.1 m | 5.8 m | 18 m | 41.6 m | 6 m | 9.3 m |

## Accounts Receivable | 1.6 m | 4.6 m | 4.2 m | 5.9 m | 1.4 m | 3 m | 218 k | 2.1 m | 2.9 m |

## Inventories | 63 k | 147 k | 165 k | 137 k | 107 k | 122 k | 110 k | 88 k | 100 k |

## Current Assets | 42 m | 12 m | 16.2 m | 46.2 m | 10.6 m | 25.9 m | 46.9 m | 11.3 m | 21.3 m |

## PP&E | 46.7 m | 56.4 m | 58.6 m | 62 m | 79.1 m | 81.8 m | 55.1 m | 53.3 m | 52.3 m |

## Goodwill | 11.6 m | 11 m | 10.3 m | 9.7 m | 8.9 m | 9.2 m | 9.7 m | 9.7 m | 9.1 m |

## Total Assets | 101.8 m | 80.7 m | 86.4 m | 119.3 m | 99.8 m | 118.2 m | 112 m | 74.5 m | 83 m |

## Accounts Payable | 3.3 m | 6.2 m | 5.8 m | 4.4 m | 9.1 m | 10.7 m | 4.4 m | 3.5 m | 2.6 m |

## Current Liabilities | 8.5 m | 11.5 m | 13.8 m | 16.8 m | 33.3 m | 39.3 m | 29.7 m | 20 m | 24.4 m |

## Additional Paid-in Capital | 294.7 m | 310.4 m | 313.2 m | 360.8 m | 377.7 m | 385 m | 397.5 m | 399.9 m | 401.1 m |

## Retained Earnings | (278.5 m) | (316 m) | (335.4 m) | (358.5 m) | (410.4 m) | (435.9 m) | (477.6 m) | (503.3 m) | (518.6 m) |

## Total Equity | 19.8 m | 4.2 m | (31.7 m) | (49.2 m) | |||||

## Financial Leverage | 5.2 x | 28.2 x | -3.2 x | -2.4 x |

USD | FY, 2014^{} | FY, 2015^{} | FY, 2016^{} |
---|---|---|---|

## Net Income | (57.9 m) | (90.8 m) | (100.8 m) |

## Depreciation and Amortization | 4.1 m | 4.9 m | 5.5 m |

## Accounts Receivable | (266 k) | 330 k | 757 k |

## Inventories | (71 k) | (9 k) | 62 k |

## Accounts Payable | 1.1 m | 431 k | (1.2 m) |

## Cash From Operating Activities | (36.6 m) | (55.2 m) | (28.4 m) |

## Purchases of PP&E | (12.1 m) | (16.6 m) | (17.3 m) |

## Cash From Investing Activities | (12.1 m) | (16.6 m) | (17.3 m) |

## Cash From Financing Activities | 51.3 m | 75.8 m | 52.2 m |

## Interest Paid | 3.2 m | 6.5 m | 4.2 m |

USD | Q3, 2014^{} | Q1, 2014^{} | Q2, 2014^{} | Q3, 2015^{} | Q1, 2015^{} | Q2, 2015^{} | Q3, 2016^{} | Q1, 2016^{} | Q2, 2016^{} |
---|---|---|---|---|---|---|---|---|---|

## Net Income | (42.6 m) | (22.3 m) | (41.6 m) | (64.8 m) | (25.9 m) | (51.3 m) | (93.1 m) | (18 m) | (33.3 m) |

## Depreciation and Amortization | 3.1 m | 1.1 m | 2.4 m | 3.5 m | 1.5 m | 3 m | 4.5 m | 1.7 m | 2.7 m |

## Accounts Receivable | 137 k | (288 k) | (2.3 m) | 203 k | 168 k | (797 k) | 913 k | (1.7 m) | (2.5 m) |

## Inventories | 8 k | (5 k) | (23 k) | 5 k | 44 k | 29 k | 41 k | 1 k | (11 k) |

## Accounts Payable | 781 k | 2.6 m | 2.2 m | 843 k | 4.9 m | 6.7 m | 555 k | 880 k | 7 k |

## Cash From Operating Activities | (13 m) | (13.1 m) | (25 m) | (36.2 m) | (13.6 m) | (13.7 m) | (12.9 m) | (12.5 m) | (23.3 m) |

## Purchases of PP&E | (3.4 m) | (3.6 m) | (6.9 m) | (11.5 m) | (2.8 m) | (6.8 m) | (10.6 m) | (363 k) | (482 k) |

## Cash From Investing Activities | (3.4 m) | (3.6 m) | (6.9 m) | (11.5 m) | (2.8 m) | (6.8 m) | (10.6 m) | (363 k) | (482 k) |

## Cash From Financing Activities | 48.2 m | 12.6 m | 32 m | 76.5 m | 9.9 m | 26.1 m | 52.8 m | 141 k | 14.4 m |

## Interest Paid | 1.8 m | 2.1 m | 4 m | 218 k | 432 k |

Y, 2016 | |
---|---|

## EV/EBIT | 0.1 x |

## EV/CFO | 0.7 x |

## Financial Leverage | -1 x |