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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.
Alkermes
Alkermes
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