Slide 1: Fourth Quarter and Year-End 2024 Financial Results & Business Update
Fourth Quarter and Year-End 2024 Financial Results & Business Update February 12, 2025
Slide 2: Forward-Looking Statements and Non-GAAP Financial Information
Forward-Looking Statements and Non-GAAP Financial Information Certain statements set forth in this presentation constitute “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995, as amended, including, but not limited to, statements concerning: Alkerm
Slide 3: Highly Profitable, Self-Funding Business With Strong Balance Sheet
Highly Profitable, Self-Funding Business With Strong Balance Sheet >$1B of proprietary >$200M of EBITDA* ~$825M in cash product net sales expected in 2025 and investments expected in 2025 at 12/31/24 Non-dilutive funding for Ongoing commitment Strong financial position and development pipeline to ef
Slide 4: Q4 & FY 2024 Financial and Operational Performance
Q4 & FY 2024 Financial and Operational Performance
Slide 5: FY 2024 Financial Results Summary
FY 2024 Financial Results Summary Total Revenue GAAP Net Income GAAP Earnings Per Share Diluted In millions In millions $1,663.4 $1,557.6 $355.8 $367.1 $2.17 $2.10 FY 2023 FY 2024 FY 2023 FY 2024 FY 2023 FY 2024 FY 2024 results reflect expiration of royalty on U.S. net sales of INVEGA SUSTENNA® in A
Slide 6: FY 2024 Profitability From Continuing Operations
FY 2024 Profitability From Continuing Operations GAAP Net Income EBITDA* Non-GAAP Net Income* From Continuing Operations From Continuing Operations From Continuing Operations In millions In millions In millions $519.2 $486.3 $494.4 $452.4 $396.5 $372.1 FY 2023 FY 2024 FY 2023 FY 2024 FY 2023 FY 2024
Slide 7: Q4 2024 Revenue Summary
Q4 2024 Revenue Summary In millions Q4’24 Q4’23 Total Proprietary Net Sales $307.7 $242.0 VIVITROL® $134.1 $102.4 ARISTADA®* $96.6 $83.4 LYBALVI® $77.0 $56.2 Manufacturing & Royalty Revenue $122.3** $135.5 Total Revenue $430.0** $377.5 *Inclusive of ARISTADA INITIO® **Reflects expiration of royalty
Slide 8: FY 2024 Revenue Summary
FY 2024 Revenue Summary In millions FY’24 FY’23 Total Proprietary Net Sales $1,083.5 $920.0 VIVITROL® $457.3 $400.4 ARISTADA®* $346.2 $327.7 LYBALVI® $280.0 $191.9 Manufacturing & Royalty Revenue $474.1** $743.4*** Total Revenue $1,557.6** $1,663.4*** *Inclusive of ARISTADA INITIO® **Reflects expira
Slide 9: Alkermes: 2025 Financial Expectations
Alkermes: 2025 Financial Expectations* Financial Expectations for (in millions) Year Ending Dec. 31, 2025 Total Revenues $1,340 – $1,430 Expected net sales of proprietary products: COGS $185 – $205 • VIVITROL® net sales of $440M – $460M R&D Expense $305 – $335 • ARISTADA® net sales of $335M – $355M
Slide 10: 2024 Commercial Review
2024 Commercial Review
Slide 11: Topline Growth and Diversification Reflect Evolving Business
Topline Growth and Diversification Reflect Evolving Business Key Product Revenues ($M) $1,218 $1,049 $893 $715 $574 FY'20 FY'21 FY'22 FY'23 FY'24 VUMERITY®** VIVITROL® ARISTADA®* LYBALVI® *Inclusive of ARISTADA INITIO® **Licensed product (royalty & manufacturing revenue) 11 © 2025 © 2022 Alkermes. A
Slide 12: LYBALVI Performance and Expectations
LYBALVI® Performance and Expectations LYBALVI Quarterly Net Sales ($M) $90 Q4’24 LYBALVI net sales of $77.0M reflects 37% growth compared to Q4’23 $80 • Q4’24 gross-to-net deductions: ~30% $70 FY’24 LYBALVI net sales were $280.0M $60 $50 Outlook: $40 • FY’25 net sales expected to range from $320M –
Slide 13: LYBALVI Prescription Growth Trends
LYBALVI® Prescription Growth Trends Post-Launch TRx* (Through 1/31/2025) Q4’24 total TRx: 5,000 • ~60,300 reflecting 5% 4,500 sequential growth compared 4,000 to Q3’24 3,500 3,000 TRx 2,500 2,000 1,500 1,000 500 0 13 19 25 31 37 43 49 55 61 67 73 79 85 91 97 1 7 103 109 115 121 127 133 139 145 151 1
Slide 14: ARISTADA Performance and Expectations
ARISTADA® Performance and Expectations ARISTADA Quarterly Net Sales* ($M) $110 Q4’24 ARISTADA net sales were $96.6M $100 FY’24 ARISTADA net sales were $346.2M $90 $80 Outlook: $70 • FY’25 net sales expected to range from $60 $335M – $355M†* $50 $40 $30 $20 $10 $0 Q1'23 Q2'23 Q3'23 Q4'23 Q1'24 Q2'24
Slide 15: VIVITROL Performance and Expectations
VIVITROL® Performance and Expectations VIVITROL Quarterly Net Sales ($M) $140 Q4’24 VIVITROL net sales were $134.1M $120 FY’24 VIVITROL net sales were $457.3M $100 Outlook: • FY’25 net sales expected to range from $80 $440M – $460M* $60 $40 $20 $0 Q1'23 Q2'23 Q3'23 Q4'23 Q1'24 Q2'24 Q3'24 Q4'24 *The
Slide 16: Appendix
Appendix
Slide 17: Appendix: Amounts Included in Discontinued Operations
Appendix: Amounts Included in Discontinued Operations Three Months Ended Three Months Ended Three Months Ended Three Months Ended Year Ended (In millions) March 31, 2024 June 30, 2024 September 30, 2024 December 31, 2024 December 31, 2024 Cost of goods manufactured and sold $ --- $ --- $ --- $ --- $
Slide 18: Appendix: Financial Results GAAP to EBITDA Adjustments
Appendix: Financial Results GAAP to EBITDA Adjustments Year Ended Year Ended (In millions) December 31, 2024 December 31, 2023 Net Income from Continuing Operations — GAAP $ 372.1 $ 519.2 Adjustments: Depreciation expense 27.4 36.9 Amortization expense 1.1 35.7 Interest income (42.5) (30.9) Interest
Slide 19: Appendix: Financial Results GAAP to Non-GAAP Adjustments
Appendix: Financial Results GAAP to Non-GAAP Adjustments Year Ended Year Ended (In millions) December 31, 2024 December 31, 2023 Net Income from Continuing Operations — GAAP $ 372.1 $ 519.2 Adjustments: Share-based compensation expense 96.6 92.7 Depreciation expense 27.4 36.9 Amortization expense 1.
Slide 20: Appendix: 2025 Guidance GAAP to EBITDA and Adjusted EBITDA
Appendix: 2025 Guidance GAAP to EBITDA and Adjusted EBITDA Year Ending (In millions) December 31, 2025 Projected Net Income — GAAP $ 190.0 Adjustments: Net interest income (30.0) Depreciation expense 30.0 Provision for income taxes 40.0 Projected EBTIDA $ 230.0 Shared-based compensation expense 95.0
Slide 21: www.alkermes.com
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