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Dec 31, 2024
Sarepta Q4 2024 Earnings Report
Sarepta reported strong revenue growth and profitability in Q4 2024, driven by the success of ELEVIDYS.
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
Sarepta
Sarepta Revenue by Segment
Revenue by Segment
ELEVIDYS Net Product Revenue
CapyFin.comCollaboration and Other Revenue
CapyFin.com 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.