Business
Lantheus Reports Second Quarter 2023 Financial Results
Worldwide revenue of $321.7 million for the second quarter 2023, representing an increase of 43.8% from the prior year periodGAAP net income of $94.1 million
About this update from Lantheus Holdings, Inc.
[{"type":"text","content":"Worldwide revenue of $321.7 million for the second quarter 2023, representing an increase of 43.8% from the prior year periodGAAP net income of $94.1 million for the second quarter 2023, compared to GAAP net income of $43.1 million in the prior year periodGAAP fully diluted net income per share of $1.33 for the second quarter 2023, compared to GAAP fully diluted net income per share of $0.61 in the prior year period; adjusted fully diluted net income per share of $1.54 for the second quarter 2023, compared to adjusted fully diluted net income per share of $0.89 in the prior year periodNet cash used in operating activities was $32.3 million for the second quarter 2023. Free cash flow was $(43.0) million in the second quarter 2023The Company provides third quarter 2023 revenue and adjusted diluted earnings per share guidance; increases full year guidance BEDFORD, Mass., Aug. 03, 2023 (GLOBE NEWSWIRE) -- Lantheus Holdings, Inc. (the Company) (NASDAQ: LNTH), a company committed to improving patient outcomes through diagnostics, radiotherapeutics and artificial intelligence solutions that enable clinicians to Find, Fight and Follow disease, today reported financial results for its second quarter ended June 30, 2023. The Company’s worldwide revenue for the second quarter of 2023 totaled $321.7 million, compared with $223.7 million for the second quarter of 2022, representing an increase of 43.8% over the prior year period. The Company’s second quarter 2023 GAAP net income was $94.1 million, or $1.33 per fully diluted share, as compared to GAAP net income of $43.1 million, or $0.61 per fully diluted share for the second quarter of 2022. The Company’s second quarter 2023 adjusted fully diluted net income per share, or earnings per share (“EPS”), was $1.54, as compared to $0.89 for the second quarter of 2022, representing an increase of approximately $0.66 from the prior year period. Lastly, net cash used in operating activities was $32.3 million for the second quarter 2023. Free Cash Flow was $(43.0) million in the second quarter of 2023, representing a decrease of approximately $111.2 million from the prior year period. “We are excited to announce solid quarterly earnings driven by the continued uptake of PSMA PET with PYLARIFY® and sustained growth of DEFINITY®. Our commitment to innovation and excellence enabled us to impact the live...