Sarepta Q4 2024 Earnings Report
Key Takeaways
Sarepta Therapeutics posted total revenue of $658.4 million in Q4 2024, a 66% increase year-over-year. The company achieved GAAP net income of $159.0 million and non-GAAP net income of $206.0 million. The growth was largely fueled by ELEVIDYS sales, which accounted for $384.2 million in revenue. Operating income improved significantly to $161.7 million.
Q4 2024 total revenue reached $658.4 million, up 66% year-over-year.
ELEVIDYS contributed $384.2 million in revenue, with an additional $4.9 million in royalties.
GAAP net income was $159.0 million, with non-GAAP net income at $206.0 million.
Strong cash position with $1.1 billion in cash and equivalents as of year-end.
Sarepta Revenue
Sarepta EPS
Sarepta Revenue by Segment
Sarepta Revenue by Geographic Location
Forward Guidance
Sarepta expects continued revenue growth in 2025, with projected net product revenue of $2.9 to $3.1 billion. The company aims to expand its gene therapy pipeline and secure regulatory approvals.
Positive Outlook
- Expected net product revenue of $2.9B to $3.1B in 2025.
- ELEVIDYS projected to grow by 162% year-over-year.
- BLA submission for SRP-9003 targeted in 2025.
- Advancement of siRNA pipeline with potential 2028-2029 approvals.
- Strong cash position supports expansion and R&D investments.
Challenges Ahead
- Higher operating expenses due to pipeline expansion.
- Potential pricing pressure in gene therapy market.
- Regulatory risks associated with upcoming approvals.
- Market adoption uncertainty for new therapies.
- Macroeconomic factors may impact healthcare spending.