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Jun 30, 2021
Alkermes Q2 2021 Earnings Report
Alkermes reported strong second-quarter performance, driven by commercial execution and focus on profitability, leading to updated full-year financial expectations.
Key Takeaways
Alkermes plc reported a strong second quarter in 2021, with total revenues of $303.7 million, a 23% increase year-over-year. The company's performance was driven by commercial execution, with VIVITROL® and ARISTADA® demonstrating robust growth. Alkermes updated its full-year 2021 financial expectations based on this strong first-half performance.
Total revenues for the quarter were $303.7 million, compared to $247.5 million for the same period in the prior year.
Net sales of proprietary products for the quarter were $160.8 million, compared to $130.4 million for the same period in the prior year.
GAAP net income was $2.4 million, or $0.01 per share, compared to a GAAP net loss of $29.4 million, or $0.19 per share, for the same period in the prior year.
Non-GAAP net income was $49.2 million, or $0.30 per share, compared to non-GAAP net income of $8.9 million, or $0.06 per share, for the same period in the prior year.
Alkermes
Alkermes
Alkermes Revenue by Segment
Revenue by Segment
VIVITROL Revenue
CapyFin.comARISTADA Revenue
CapyFin.com Forward Guidance
Alkermes updated its full-year 2021 financial expectations based on recent trends and the assumption of continued improvement in patient access to treatment providers and commercial products.
Positive Outlook
- Total Revenue: $1,145 - $1,185 million
- VIVITROL Net Sales: $330 - $345 million
- ARISTADA Net Sales: $275 - $290 million
- Non-GAAP Net Income: $85 - $115 million
- Non-GAAP Diluted EPS: $0.52 - $0.70
Challenges Ahead
- GAAP Net Loss: ($60) - ($90) million
- GAAP Net Loss per Share: ($0.37) - ($0.56)
- Cost of Goods Sold: $195 - $205 million
- R&D Expenses: $400 - $430 million
- SG&A Expenses: $560 - $590 million
Revenue & Expenses
Visualization of income flow from segment revenue to net income