Emergent BioSolutions Q4 2023 Earnings Report
Key Takeaways
Emergent BioSolutions reported Q4 2023 total revenues of $276.6 million, a decrease of 16% compared to Q4 2022. The company experienced a net loss of $49.5 million and an adjusted EBITDA of $3.4 million for the quarter. They launched OTC NARCAN, received FDA approval for CYFENDUS, and were awarded contracts for CYFENDUS, Ebanga, and RSDL.
Total revenues for Q4 2023 were $277 million, aligning with the midpoint of full-year guidance.
Net loss for Q4 2023 was $50 million, with an adjusted EBITDA of $3 million.
Launched NARCAN® Naloxone HCl Nasal Spray 4 mg Over-The-Counter (OTC).
Awarded a $75 million option for CYFENDUS® and a 10-year contract for EbangaTM.
Emergent BioSolutions
Emergent BioSolutions
Forward Guidance
The Company provides the following financial forecast for full year 2024 and Q1 2024, in both instances reflecting management's expectations based on the most current information available.
Positive Outlook
- Full Year 2024 Total revenues $900 - $1,100 million
- Full Year 2024 Net loss $(183) - $(133) million
- Full Year 2024 Adjusted net loss $(130) - $(80) million
- Full Year 2024 Adjusted EBITDA $50 - $100 million
- Full Year 2024 Total segment adjusted gross margin % 40% - 45%
Challenges Ahead
- Q1 2024 Total revenues $200 - $250 million