ANI Pharmaceuticals Q1 2023 Earnings Report
Key Takeaways
ANI Pharmaceuticals reported record first-quarter 2023 financial results, with net revenues reaching $106.8 million, a 65.6% year-over-year increase. The company's net income available to common shareholders was $1.0 million, with a diluted GAAP income per share of $0.06. Adjusted non-GAAP EBITDA reached $33.0 million, and adjusted non-GAAP diluted earnings per share was $1.17. The company also raised its full-year 2023 guidance for net revenue, adjusted non-GAAP EBITDA, and adjusted non-GAAP earnings per share.
ANI Pharmaceuticals reported record quarterly net revenues of $106.8 million, representing year-over-year growth of 65.6%.
The company's lead Rare Disease asset, Purified Cortrophin Gel, achieved first-quarter 2023 net sales of $16.3 million.
ANI Pharmaceuticals raised its full-year 2023 net revenue guidance to $385 million to $410 million and adjusted non-GAAP EBITDA guidance to $97 million to $107 million.
The company maintains Cortrophin Gel net revenue guidance at $80 million to $90 million, representing 92% - 116% growth versus 2022.
ANI Pharmaceuticals
ANI Pharmaceuticals
Forward Guidance
ANI Pharmaceuticals raised its full-year 2023 guidance for net revenue, adjusted non-GAAP EBITDA and adjusted non-GAAP earnings per share.
Positive Outlook
- Total Company net revenue guidance raised to between $385.0 million and $410.0 million
- Cortrophin Gel specific revenue guidance maintained between $80.0 million to $90.0 million
- Total Company non-GAAP gross margin to between 60.0% and 62.5%
- Total Company adjusted non-GAAP EBITDA raised to between $97.0 million and $107.0 million
- Adjusted non-GAAP diluted earnings per share raised to between $2.99 and $3.45