Lantheus Holdings, Inc. · NASDAQ:LNTH
Lantheus — Q4 2025 Earnings Presentation
29 slides from Lantheus's earnings presentation, Feb 26, 2026
Slide 1: Lantheus Fourth Quarter & Full Year 2025 Results
Lantheus Fourth Quarter & Full Year 2025 Results FEBRUARY 26, 2026 © 2026 Lantheus. All rights reserved.
Slide 2: Agenda
Agenda SPEAKERS Highlights and Business Update Commercial Update Financial Update Mary Anne Heino Executive Board Chair Bob Marshall CFO and Treasurer Amanda Morgan Mark Kinarney Vice President, Chief Commercial & CEO Officer Investor Relations Closing Remarks Q&A © 2026 Lantheus. All rights reserve
Slide 3: Safe Harbor Statements
Safe Harbor Statements Cautionary Statement Regarding Forward-Looking Statements This document contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, as amended, that are subject to risks and uncertainties and are made pursuant to the safe har
Slide 4: Agenda
Agenda SPEAKERS Highlights and Business Update Commercial Update Financial Update Mary Anne Heino Executive Board Chair Bob Marshall CFO and Treasurer Amanda Morgan Mark Kinarney Vice President, Chief Commercial & CEO Officer Investor Relations Closing Remarks Q&A © 2026 Lantheus. All rights reserve
Slide 5: Lantheus, the Leading Radiopharmaceutical-focused Company
Lantheus, the Leading Radiopharmaceutical-focused Company PROVEN COMMERCIAL DROVE SIGNIFICANT PROGRESS TO DIVERSITY REVENUE & BROADEN PIPELINE STRENGTH DIVERSIFIED GROWTH DRIVERS STRENGTHENED PROSTATE CANCER PORTFOLIO $989.1M 2025 Revenue Executed two acquisitions to diversify and accelerate near-te
Slide 6: 2026: Position Lantheus for Next Phase of Leadership and Growth
2026: Position Lantheus for Next Phase of Leadership and Growth 1 2 3 Optimize Portfolio and 2026 Rigorous Focus on Capitalize on Potential Maintain Capital Commercial Execution FDA Approvals Discipline PRIORITIES • SUSTAIN PYLARIFY volume Advancing key assets to approval • Disciplined portfolio gro
Slide 7: Expanding Pipeline of Radiopharmaceuticals
Expanding Pipeline of Radiopharmaceuticals Diagnostic Therapeutic Candidate Target Isotope Indication/Disease Area Pre-Clinical Phase 1 Phase 2 Phase 3 Reg. Filing Piflufolastat F 18†,1 (new formulation) PSMA 18F Prostate Cancer Prostate Cancer LNTH-24012 GRPR 68Ga Metastatic Prostate Cancer Neuro-E
Slide 8: Agenda
Agenda SPEAKERS Highlights and Business Update Commercial Update Financial Update Mary Anne Heino Executive Board Chair Bob Marshall CFO and Treasurer Amanda Morgan Mark Kinarney Vice President, Chief Commercial & CEO Officer Investor Relations Closing Remarks Q&A © 2026 Lantheus. All rights reserve
Slide 9: PYLARIFY: $240.2M 4Q 2025 Net Sales
Utilized PSMA PET Imaging Agent1 4Q 2025 $240.2M -9.7% Growth 4Q 2025 Net Sales 4Q 2025 Year-over-Year FY 2025 $989.1M -6.5% Growth FY 2025 Net Sales FY 2025 Year-over-Year >760,000 PYLARIFY scans performed since launch1 1. Internal analyses and data on file. © 2026 Lantheus. All rights reserved. 9
Slide 10: A Core Growth Driver Within Our PET Diagnostic Platform
A Core Growth Driver Within Our PET Diagnostic Platform INTEGRATION NEURACEQ $31.0 of contributed million into in 4Q 2025 portfolio EXITED 2025 FOCUS FOR 2026: # 1 # 2 EXPAND product availability Position within the Lantheus As the fastest Second portfolio offered to Nuclear Medicine growing largest
Slide 11: DEFINITY: $85.3M 4Q 2025 Net Sales
#1 Utilized Ultrasound Enhancing Agent1 4Q 2025 $85.3M -1.0% Growth 4Q 2025 Net Sales 4Q 2025 Year-over-Year FY 2025 $330.2M +3.9% Growth FY 2025 Net Sales FY 2025 Year-over-Year >3.9M echocardiography exams used in 20252 1. DRG Real World Data (RWD) report; 2. Internal analyses and data on file. ©
Slide 12: Promising Pipeline of Registrational-Stage Assets
Promising Pipeline of Registrational-Stage Assets NEW PSMA PET Formulation PDUFA: March 6, 2026 • Same diagnostic properties of PYLARIFY with similar safety and efficacy profile REINFORCE • Manufacturing efficiencies that will immediately improve availability • Ensure coding, TPT status, and broad p
Slide 13: Agenda
Agenda SPEAKERS Highlights and Business Update Commercial Update Financial Update Mary Anne Heino Executive Board Chair Bob Marshall CFO and Treasurer Amanda Morgan Mark Kinarney Vice President, Chief Commercial & CEO Officer Investor Relations Closing Remarks Q&A © 2026 Lantheus. All rights reserve
Slide 14: 4Q 2025 Financial Results
4Q 2025 Financial Results1 4Q25 vs 4Q24 • Radiopharmaceutical Oncology: $240.2M in sales, -9.7% YoY $406.8 • Precision Diagnostic: $143.2M in sales, +22.0% YoY driven by the Net Revenues +4.0% Million contribution from Neuraceq during the quarter • Strategic Partnerships: $23.3 million in sales, +20
Slide 15: Strong Capital Resources Provide Financial Flexibility
Strong Capital Resources Provide Financial Flexibility1 Cash Flow Summary Free Cash Flow2 Resources USD Millions (4Q 2025) Three Months Ending December 31 2024 2025 -$60.0 DECREASE $359.1M Cash provided $157.7 $90.2 CASH ON HAND3 by operations $141.4 Cash used in $81.4 ($6.6) ($11.5) investing Cash
Slide 16: FY 2026 Corporate Financial Guidance
FY 2026 Corporate Financial Guidance1 Guidance Issued February 26, 2026 The Company guidance for the full year 2026 is as follows: Revenue $1.4B – $1.45B FY 2026 Adjusted Fully Diluted EPS2 $5.00 – $5.25 1. On a forward-looking basis, the Company does not provide GAAP income per common share guidanc
Slide 17: Agenda
Agenda SPEAKERS Highlights and Business Update Commercial Update Financial Update Mary Anne Heino Executive Board Chair Bob Marshall CFO and Treasurer Amanda Morgan Mark Kinarney Vice President, Chief Commercial & CEO Officer Investor Relations Closing Remarks Q&A © 2026 Lantheus. All rights reserve
Slide 18: Lantheus, the Leading Radiopharmaceutical-focused Company
Lantheus, the Leading Radiopharmaceutical-focused Company We’ve taken 2026 Priorities: We Remain Deeply Committed to: purposeful steps 1 Maintain our MARKET 3 Increase MOMENTUM 5 Selectively develop to STRENGTHEN LEADERSHIP with PYLARIFY FOR NEURACEQ pipeline assets toward OUR PORTFOLIO and DEFINITY
Slide 19: Agenda
Agenda SPEAKERS Highlights and Business Update Commercial Update Financial Update Mary Anne Heino Executive Board Chair Bob Marshall CFO and Treasurer Amanda Morgan Mark Kinarney Vice President, Chief Commercial & CEO Officer Investor Relations Closing Remarks Q&A © 2026 Lantheus. All rights reserve
Slide 20: Appendix
Appendix © 2026 Lantheus. All rights reserved. 20
Slide 21: Condensed Consolidated Statement of Operations – 4Q 2025
Condensed Consolidated Statement of Operations – 4Q 2025 © 2026 Lantheus. All rights reserved. 21
Slide 22: As Adjusted Condensed Consolidated Statement of Operations – 4Q 2025
As Adjusted Condensed Consolidated Statement of Operations – 4Q 2025 © 2026 Lantheus. All rights reserved. 22
Slide 23: Condensed Consolidated Statement of Operations – FY 2025
Condensed Consolidated Statement of Operations – FY 2025 © 2026 Lantheus. All rights reserved. 23
Slide 24: As Adjusted Condensed Consolidated Statement of Operations – FY 2025
As Adjusted Condensed Consolidated Statement of Operations – FY 2025 © 2026 Lantheus. All rights reserved. 24
Slide 25: Reconciliation of GAAP to Non-GAAP Financial Measures
Reconciliation of GAAP to Non-GAAP Financial Measures (in thousands, except per share and percent data) (a) Non-GAAP amount excludes a gain of $23 and $109 from the change in value of other assets for the three and twelve months ended December 31, 2025, respectively. (b) Represents the estimated inc
Slide 26: Consolidated Statement of Operations
Consolidated Statement of Operations (in thousands, except per share data) © 2026 Lantheus. All rights reserved. 26
Slide 27: Consolidated Segment Revenues Analysis
Consolidated Segment Revenues Analysis (in thousands) © 2026 Lantheus. All rights reserved. 27
Slide 28: Reconciliation of Free Cash Flow
Reconciliation of Free Cash Flow (in thousands) © 2026 Lantheus. All rights reserved. 28
Slide 29: Condensed Consolidated Balance Sheet
Condensed Consolidated Balance Sheet (in thousands) © 2026 Lantheus. All rights reserved. 29