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Mar 31, 2024
Emergent BioSolutions Q1 2024 Earnings Report
Emergent BioSolutions reported a strong first quarter in 2024, exceeding revenue guidance, improving net income, and making progress on debt reduction and expense control.
Key Takeaways
Emergent BioSolutions reported strong Q1 2024 results with revenue above guidance, improved net income, and progress on debt and expense management. Total revenue increased by 83% to $300.4 million, driven by growth across key products like NARCAN and Anthrax MCM. The company is focused on transforming its operations and strengthening its financial position.
Total revenues for Q1 2024 were $300.4 million, exceeding prior guidance.
Net income for Q1 2024 was $9.0 million, a significant improvement from the prior year's loss.
Adjusted EBITDA for Q1 2024 was $66.9 million.
The company is focused on strengthening its fundamentals with key focus on Medical Countermeasure (“MCM”) and NARCAN® products.
Emergent BioSolutions
Emergent BioSolutions
Emergent BioSolutions Revenue by Segment
Revenue by Segment
NARCAN Nasal Spray Revenue
CapyFin.comAnthrax MCM Revenue
CapyFin.comSmallpox MCM Revenue
CapyFin.comOther Products Revenue
CapyFin.comContracts and Grants Revenue
CapyFin.comServices Revenue
CapyFin.com Forward Guidance
Emergent BioSolutions updated its full year 2024 financial forecast, reflecting management's expectations based on current information. The company also provided initial guidance for Q2 2024.
Positive Outlook
- Total revenues revised to $1,000 - $1,100 million (previously $900 - $1,100 million)
- Net loss revised to $(148) - $(98) million (previously $(183) - $(133) million)
- Adjusted net loss revised to $(65) - $(15) million (previously $(130) - $(80) million)
- Adjusted EBITDA revised to $125 - $175 million (previously $50 - $100 million)
- Total segment adjusted gross margin % revised to 44% - 47% (previously 40% - 45%)
Revenue & Expenses
Visualization of income flow from segment revenue to net income