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Jun 30, 2024
Supernus Q2 2024 Earnings Report
Reported strong Q2 2024 financial results with increased net sales and adjusted operating earnings, and raised full year 2024 guidance.
Key Takeaways
Supernus Pharmaceuticals announced strong financial results for the second quarter of 2024, marked by a 24% increase in total revenues to $168.3 million compared to the same period in 2023. Key growth drivers were Qelbree and GOCOVRI, with Qelbree net sales increasing by 92% and GOCOVRI by 10%. The company also reported an operating income of $22.6 million and adjusted operating earnings of $45.5 million. Supernus raised its full-year 2024 guidance for total revenues and operating earnings.
Net sales of Qelbree increased by 92% to $59.4 million compared to Q2 2023.
Net sales of GOCOVRI increased by 10% to $31.7 million compared to Q2 2023.
Total revenues increased by 24% to $168.3 million compared to Q2 2023.
Adjusted operating earnings increased to $45.5 million, compared to $10.0 million in the same period in 2023.
Revenue by Segment
Forward Guidance
Supernus Pharmaceuticals is increasing its full year 2024 financial guidance for total revenues, GAAP operating earnings (loss) and non-GAAP operating earnings, and maintaining guidance for combined R&D and SG&A expenses.
Positive Outlook
- Total revenues are expected to be between $600 million and $625 million.
- Combined R&D and SG&A expenses are projected to be between $430 million and $460 million.
- Operating earnings are expected to be between $0 million and $20 million.
- Adjusted operating earnings are projected to be between $100 million and $125 million.
- The revenue guidance includes approximately $135 - $145 million of Trokendi XR and Oxtellar XR.
Challenges Ahead
- Continued generic erosion of Trokendi XR is expected.
- Generic erosion of Oxtellar XR is expected to begin in September 2024.
- Operating earnings could be as low as $0 million.
Revenue & Expenses
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Historical Earnings Impact
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Avg. Return Before/After Earnings
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