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Dec 31, 2024
Akebia Q4 2024 Earnings Report
Akebia reported a decline in revenue for Q4 2024, with lower product sales and increased operating expenses leading to a net loss.
Key Takeaways
Akebia's Q4 2024 revenue declined 17.2% to $46.5 million due to lower Auryxia sales and reduced collaboration revenue. Net loss widened to $22.8 million compared to a small profit in Q4 2023. Operating expenses increased, driven by Vafseo's U.S. launch preparations. Cash reserves improved to $51.9 million, with further funding secured post-year-end.
Total revenue declined 17.2% to $46.5 million.
Net loss widened to $22.8 million from a $0.6 million profit last year.
Auryxia sales dropped 16.6% to $44.4 million.
Cost of goods sold increased by 9.1% to $20.4 million.
Revenue by Segment
Forward Guidance
Akebia expects continued financial pressure in early 2025 but anticipates Vafseo revenue of $10-$11 million in Q1 and stabilization in Auryxia sales.
Positive Outlook
- Vafseo launch is progressing well with strong initial adoption.
- Q1 2025 Vafseo revenue projected between $10-$11 million.
- Sufficient cash reserves to fund operations for at least two years.
- Strategic focus on label expansion for Vafseo to non-dialysis CKD patients.
- Further strengthened financial position with additional funding secured post-year-end.
Challenges Ahead
- Declining Auryxia sales due to lower demand.
- Higher operating expenses related to Vafseo launch.
- Ongoing net losses despite cost-control measures.
- Increased cost of goods sold impacting margins.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
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Avg. Return Before/After Earnings
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