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Sep 30, 2022
Eagle Q3 2022 Earnings Report
Eagle reported strong Q3 2022 results with increased revenue and adjusted non-GAAP net income.
Key Takeaways
Eagle Pharmaceuticals reported a strong third quarter with total revenue increasing to $65.9 million compared to $39.9 million in Q3 2021. The company reported a net loss of $(0.27) per share, but adjusted non-GAAP net income was $1.13 per basic and $1.12 per diluted share. The company is seeing record earning this year and expects another strong year in 2023.
Q3 2022 net loss was $(0.27) per basic and diluted share, while adjusted non-GAAP net income was $1.13 per basic and $1.12 per diluted share.
Total revenue for Q3 2022 was $65.9 million, compared to $39.9 million in Q3 2021.
Gross margin was 64% during the third quarter of 2022, as compared to 79% in the third quarter of 2021, driven by a change in revenue mix and amortization expense.
As of September 30, 2022, Eagle had $15.4 million in cash and cash equivalents and $96.9 million in net accounts receivable, and $59.3 million in outstanding debt.
Eagle
Eagle
Eagle Revenue by Segment
Revenue by Segment
BELRAPZO product sales Revenue
CapyFin.comRYANODEX product sales Revenue
CapyFin.com Forward Guidance
Eagle expects another strong year in 2023 and anticipates deploying cash to fund clinical initiatives and potential acquisitions.
Positive Outlook
- Continued earnings growth expected in 2023.
- Plans to deploy cash to fund key clinical initiatives.
- Potential for accretive acquisitions to expand the portfolio.
- Transitioning into a branded pharmaceutical company.
- Potential for significant growth with business development and R&D.
Revenue & Expenses
Visualization of income flow from segment revenue to net income