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Sep 30, 2020
Pacira Q3 2020 Earnings Report
Reported financial results and business update for the third quarter of 2020.
Key Takeaways
Pacira BioSciences reported a 12% increase in total revenues, reaching $117.5 million, driven by EXPAREL net product sales which also increased by 12% to $113.7 million. The company achieved GAAP net income of $130.1 million, or $3.03 per share, and non-GAAP net income of $29.9 million, or $0.70 per share.
Total revenues increased by 12% to $117.5 million compared to Q3 2019.
EXPAREL net product sales grew by 12% to $113.7 million compared to Q3 2019.
GAAP net income was $130.1 million, or $3.03 per share, driven by a $124.6 million income tax benefit.
Non-GAAP net income reached $29.9 million, or $0.70 per share.
Revenue by Segment
Forward Guidance
Pacira remains well-positioned as the leading provider of innovative non-opioid pain management solutions.
Positive Outlook
- Ongoing transition from inpatient to outpatient settings has accelerated.
- The Pacira Innovation and Training Facility is expected to drive adoption of EXPAREL and iovera°.
- Positive CHMP opinion for EXPAREL for postsurgical pain.
- Collaboration with IPG to reduce postsurgical opioid prescribing and surgical procedure costs.
- Pacira reported preliminary unaudited net product sales of EXPAREL and iovera° of $39.5 million and $1.1 million, respectively, for the month of September 2020.
Challenges Ahead
- Lingering challenges in the elective surgery market due to the COVID-19 pandemic.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
Analyze how earnings announcements historically affect stock price performance
Avg. Return Before/After Earnings
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