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Mar 31, 2023
Lantheus Q1 2023 Earnings Report
Lantheus reported a net loss and record quarterly revenues in Q1 2023.
Key Takeaways
Lantheus Holdings, Inc. reported a worldwide revenue increase of 44.0% year-over-year, reaching $300.8 million. The company experienced a GAAP net loss of $2.8 million, or $0.04 per fully diluted share, but achieved an adjusted fully diluted net income per share of $1.47. Free cash flow was $99.3 million, marking a significant increase from the prior year period.
Worldwide revenue increased by 44.0% to $300.8 million.
GAAP net loss was $2.8 million, or $0.04 per fully diluted share.
Adjusted fully diluted net income per share was $1.47, up from $0.97 in the prior year period.
Free cash flow reached $99.3 million, a substantial increase from the previous year.
Lantheus
Lantheus
Forward Guidance
The Company updates its guidance for full year 2023 and offers the following guidance for the second quarter:
Positive Outlook
- Q2 FY 2023 Revenue $300 million - $310 million
- Q2 FY 2023 Adjusted Fully Diluted EPS $1.25 - $1.33
- FY 2023 Revenue $1.23 billion - $1.27 billion
- Previous FY 2023 Revenue $1.14 billion - $1.16 billion
- FY 2023 Adjusted Fully Diluted EPS $5.45 - $5.70
Challenges Ahead
- On a forward-looking basis, the Company does not provide GAAP income per common share guidance or a reconciliation of adjusted fully diluted EPS to GAAP income per common share because the Company is unable to predict with reasonable certainty business development and acquisition related expenses, purchase accounting fair value adjustments, and any one-time, non-recurring charges.
- These items are uncertain, depend on various factors, and could be material to results computed in accordance with GAAP.
- As a result, it is the Company’s view that a quantitative reconciliation of adjusted fully diluted EPS on a forward-looking basis is not available without unreasonable effort.
- Risks and uncertainties that could cause our actual results to materially differ from those described in the forward-looking statements include: (i) continued market expansion and penetration for our established commercial products, particularly PYLARIFY and DEFINITY, in the face of competition; (ii) our ability to have third parties manufacture our products and our ability to manufacture DEFINITY in our in-house manufacturing facility; (iii) the global availability of Molybdenum-99 (“Mo-99”) and other raw material and key components; (iv) the efforts and timing for clinical development, regulatory approval and successful commercialization of our product candidates and new clinical applications and territories for our products, in each case, that we or our strategic partners may undertake; (v) our strategies, future prospects, and our projected growth, including revenue related to our collaboration agreements with POINT Biopharma Global Inc.
- (vi) our ability to successfully continue existing clinical development partnerships using MK-6240 as a research tool and to further develop and commercialize such research tool