Business
Medexus Announces Strong Fiscal Q1 2025 Results
Fiscal Q1 2025 revenue of $27.3 million, net income of $2.0 million, operating income of $4.0 mil...
About this update from Medexus Pharmaceuticals Inc.
[{"type":"text","content":"Medexus Announces Strong Fiscal Q1 2025 ResultsFiscal Q1 2025 revenue of $27.3 million, net income of $2.0 million, operating income of $4.0 million, and Adjusted EBITDA* of $6.1 millionManagement to host conference call at 8:00 AM Eastern time on Thursday, August 8, 2024Toronto, Ontario and Chicago, Illinois--(Newsfile Corp. - August 7, 2024) - Medexus Pharmaceuticals (TSX: MDP) (OTCQX: MEDXF) today announced its operating and financial results and provided a business update for the company's first fiscal quarter ended June 30, 2024 (the company's fiscal Q1 2025). All dollar amounts in this press release are in United States dollars unless specified otherwise.Financial highlightsRevenue of $27.3 million, a decrease of $4.3 million, or 13.6%, compared to $31.6 million for fiscal Q1 2024, which prior quarter remains the strongest quarterly revenue result in Medexus's history. The decrease was primarily attributable to reduced net sales of Rasuvo in fiscal Q1 2025 and declines in net sales of IXINITY since fiscal Q3 2024. The decrease was partially offset by continuing growth in Rupall net sales, which were also meaningfully affected by the product's typical seasonality in both periods, and a slight year-over-year increase in Gleolan net sales.Adjusted EBITDA* of $6.1 million, a decrease of $0.5 million, or 7.6%, compared to $6.6 million for fiscal Q1 2024, which prior quarter remains the strongest quarterly Adjusted EBITDA* result in Medexus's history. The decrease was primarily attributable to the changes in revenue mentioned above. The decrease was partially offset by reductions in operating expenses over fiscal year 2024 and extending into fiscal Q1 2025 and improvements in IXINITY cost of sales of products attributable to Medexus's investments in its IXINITY manufacturing process improvement initiative over the same period.Available liquidity of $8.5 million (June 30, 2024), consisting of cash and cash equivalents, compared to $5.3 million (March 31, 2024), an increase of $3.2 million.Operating income of $4.0 million, a decrease of $0.8 million, or 16.7%, compared to $4.8 million for fiscal Q1 2024, which prior quarter remains the strongest quarterly operating income result in Medexus's history.Net income of $2.0 million, an increase of $1.3 million compared to net income of $0.7 million for fiscal Q1 2024. Net income for fis...