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Alkermes
🇮🇪 NASDAQ:ALKS
•
Dec 31, 2024

Alkermes Q4 2024 Earnings Report

Key Takeaways

Alkermes reported total Q4 2024 revenue of $430.0 million, up from $377.5 million in Q4 2023. Net income from continuing operations reached $145.7 million, while non-GAAP net income stood at $173.4 million. Adjusted EBITDA from continuing operations was $170.0 million. Revenue growth was driven by proprietary products, including VIVITROL, ARISTADA, and LYBALVI.

Total Revenue
$430M
Previous year: $377M
+13.9%
EPS
$1.04
Previous year: $0.48
+116.7%
GAAP Net Income
$147M
Previous year: $113M
+29.9%
Adjusted EBITDA
$170M
Previous year: $72.8M
+133.4%
Operating Margin
37.84%
Previous year: 14.48%
+161.3%
Gross Profit
$368M
Previous year: $298M
+23.3%
Cash and Equivalents
$825M
Previous year: $813M
+1.4%
Total Assets
$2.06B
Previous year: $2.14B
-3.8%

Alkermes Revenue

Alkermes EPS

Alkermes Revenue by Segment

Forward Guidance

Alkermes expects total revenue for 2025 to be between $1.34 billion and $1.43 billion, with continued growth in proprietary product sales. GAAP net income is projected to range from $175 million to $205 million.

Positive Outlook

  • Expected strong revenue growth across proprietary products.
  • Increased R&D investment to advance pipeline candidates.
  • No outstanding long-term debt following full repayment in 2024.
  • Improved operational efficiency driving profitability.
  • Phase 2 trials for ALKS 2680 expected to report data in H2 2025.

Challenges Ahead

  • Projected R&D expenses to increase to $305–$335 million in 2025.
  • SG&A expenses expected to remain high at $655–$685 million.
  • Potential headwinds from market competition in neuroscience sector.
  • Expected cost of goods sold to range from $185–$205 million.
  • Revenue from legacy products declining and expected to continue shrinking.

Revenue & Expenses

Visualization of income flow from segment revenue to net income