Assertio Q2 2023 Earnings Report
Key Takeaways
Assertio Holdings reported a strong second quarter with a 13% increase in net product sales, reaching $40.1 million. The acquisition of Spectrum Pharmaceuticals is expected to enhance the company's revenue base and commercial capabilities. The company generated $18.6 million in cash flow from operations.
Net product sales increased by 13% year-over-year, reaching $40.1 million.
Gross margin increased to 88.1% from 87.2% in the prior year quarter.
Adjusted EBITDA increased to $24.8 million from $22.9 million in the prior year quarter.
Cash and cash equivalents totaled $70.2 million at quarter end.
Assertio
Assertio
Assertio Revenue by Segment
Forward Guidance
Assertio is withdrawing its 2023 financial outlook to assess the recent news of a generic indomethacin suppository approved by the United States Food and Drug Administration (“FDA”).