Emergent BioSolutions Q4 2022 Earnings Report
Key Takeaways
Emergent BioSolutions reported Q4 2022 financial results, with total revenues of $331 million and a net loss of $88 million. The company's performance reflects a period of transition, with a focus on public health preparedness and a strategy for sustainable long-term growth and profitability.
Total revenues for Q4 2022 were reported at $331 million, while FY 2022 revenues reached $1,121 million.
The company experienced a net loss of $88 million in Q4 2022, and $224 million for the full year 2022.
Adjusted EBITDA for Q4 2022 was $34 million, and $26 million for FY 2022.
The adjusted gross margin for Q4 2022 was 48%.
Emergent BioSolutions
Emergent BioSolutions
Emergent BioSolutions Revenue by Segment
Forward Guidance
For FY 2023, Emergent BioSolutions expects revenues between $1.1 billion and $1.2 billion, adjusted EBITDA between $75 million and $125 million, and an adjusted gross margin between 41% and 44%.
Positive Outlook
- Approval for over-the-counter NARCAN Nasal Spray.
- Launch of over-the-counter NARCAN Nasal Spray by the end of the summer 2023.
- Continued strong demand in the U.S. public interest (PIP) channel and Canada.
- Continued procurement and delivery of anthrax, smallpox and other related medical countermeasures (MCM) products to the U.S. and allied governments.
Challenges Ahead
- Potential impact of the sale of the travel health business to Bavarian Nordic is excluded.
- Continued re-baselining of the CDMO services business overall.
- Impact of reduced production output from the Camden facility.