Lantheus Holdings, Inc. · NASDAQ:LNTH
Lantheus — Q1 2023 Earnings Presentation
28 slides from Lantheus's earnings presentation, May 4, 2023
Slide 1: First Quarter 2023 Results
First Quarter 2023 Results May 4, 2023 © 2023 Lantheus. All rights reserved. 1
Slide 2: Presenters and agenda
Mary Anne Heino Paul Blanchfield Bob Marshall Mark Kinarney CEO President CFO and Treasurer Vice President, Investor Relations Highlights & Business Update Operational Update Financial Update Closing Remarks Q&A © 2023 Lantheus. All rights reserved. 2
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
Highlights & Business Update Operational Update Agenda Financial Update Closing Remarks Q&A © 2023 Lantheus. All rights reserved. 4
Slide 5: Lantheus – A Growth Company
Lantheus – A Growth Company Advancing our purpose to FIND. FIGHT. FOLLOW. disease to deliver better patient outcomes 1.5M patient lives impacted 1Q 2023 Delivering life-changing science to patients and providers; Going further to improve outcomes and lives #1 PSMA PET #1 Ultrasound • Leader in radio
Slide 6: Leveraging Our Leadership in Radiopharmaceuticals to Grow Our Portfolio
Leveraging Our Leadership in Radiopharmaceuticals to Grow Our Portfolio PNT2002 and PNT20031 MK-6240 Two late-stage radiotherapeutic product candidates Novel, clinical-stage, second generation PET imaging agent for Alzheimer’s disease Formed • Clinical studies • Potential to aid in diagnosing and st
Slide 7: Agenda
Highlights & Business Update Operational Update Agenda Financial Update Closing Remarks Q&A 7
Slide 8: Uniquely Positioned to Take Advantage of the Renaissance in Radiopharmaceuticals
Uniquely Positioned to Take Advantage of the Renaissance in Radiopharmaceuticals LANTHEUS: Global Radiopharmaceutical Market 18.6% Largest Radiopharmaceutical-Focused USD Billions CAGR Company 10 YEAR Therapeutics 35 Diagnostics UNIQUELY POSITIONED to lead and shape this industry going forward 25 RE
Slide 9: PSMA PET with PYLARIFY
PSMA PET with PYLARIFY Drivers of Success $195.5M Innovation 1Q 2023 Net Sales $527.4M Net Sales Significant unmet need +110% growth Best-In-Class year over year Customer Experience Firmly established as the market leading PSMA PET imaging agent for the U.S. prostate cancer community © 2023 Lantheus
Slide 10: Market Leading Ultrasound Enhancing Agent
Drivers of $68.8M Success 1Q 2023 Net Sales1 • Clinical Differentiation • Distribution Model • Supporting Data & +18% growth Publications • Dedicated Sales Team year over year1 1Includes $2M from Double-Crane license payment. Market Leading Ultrasound Enhancing Agent © 2023 Lantheus. All rights rese
Slide 11: Agenda
Highlights & Business Update Operational Update Agenda Financial Update Closing Remarks Q&A 11
Slide 12: 1Q 2023 Financial Highlights
1Q 2023 Financial Highlights1 Revenue Adjusted EPS1 USD Millions USD +$91.9 +$0.50 INCREASE INCREASE 300.8 1.47 208.9 0.97 1Q 2022 1Q 2023 1Q 2022 1Q 2023 Cash and Cash Equivalents as of March 31, 2023: $470.9M 1. See slide 23 for reconciliations of GAAP to non-GAAP financials; certain amounts may b
Slide 13: 1Q 2023 Revenue Highlights
1Q 2023 Revenue Highlights Reported: WW $300.8M, +44.0% growth YoY USD in millions, YoY Quarterly Growth $5.8 $0.7 KEY DRIVERS $9.0 (+10.3%) (-46.0%) (-68.6%) • Meaningful customer adoption amidst increasing $21.0 PYLARIFY promotional activity and product availability since 1Q22 (-7.2%) • Increase i
Slide 14: 1Q 2023 Key Financial Operating Highlights
1Q 2023 Key Financial Operating Highlights1 1Q 2023 Adjusted Operating Expense: 21.4% of Net Revenue, +1.2% Favorable YoY USD in millions Adjusted Operating Profit Adjusted Net Income Adjusted OpEx +$17.2 +$49.3 +$34.3 Sales & Marketing 64.4 142.0 102.2 47.2 92.7 67.8 General & Administrative 1Q 202
Slide 15: Strong Resources Provide Financial Flexibility
Strong Resources Provide Financial Flexibility1 Cash Flow Summary Free Cash Flow2 Resources Three Months Ending March 31 USD Millions (1Q 2023) $M 2022 2023 +$92.3 INCREASE $471M CASH ON HAND3 Cash provided $10.3 $108.5 by operations 99.3 Cash used in ($1.4) ($44.5) investing $350M Cash used in ($2.
Slide 16: 2Q 2023 and Updated FY 2023 Financial Guidance
2Q 2023 and Updated FY 2023 Financial Guidance1 The Company guidance for the second quarter and full year 2023 is as follows: Revenue $300M - $310M 2Q 2023 Adjusted Fully Diluted EPS $1.25 - $1.33 Prior Revenue $1.14B - $1.16B FY Current Revenue $1.23B - $1.27B 2023 Prior Adjusted Fully Diluted EPS2
Slide 17: Agenda
Highlights & Business Update Operational Update Agenda Financial Update Closing Remarks Q&A 17
Slide 18: Lantheus – A Growth Company: 1Q 2023 Results
Lantheus – A Growth Company 1Q 2023 Results Proven Track Record of Success 65 years of • Record revenues and earnings per share Radiopharmaceutical Expertise • Leader in radiopharmaceuticals uniquely positioned to launch new products PSMA PET Imaging Agent #1 with sustainable competitive advantages
Slide 19: Agenda
Highlights & Business Update Operational Update Agenda Financial Update Closing Remarks Q&A 19
Slide 20: Appendix
Appendix © 2023 Lantheus. All rights reserved. 20
Slide 21: Condensed Consolidated Statement of Operations – 1Q 2023
Condensed Consolidated Statement of Operations – 1Q 2023 © 2023 Lantheus. All rights reserved. 21
Slide 22: As Adjusted Condensed Consolidated Statement of Operations – 1Q 2023
As Adjusted Condensed Consolidated Statement of Operations – 1Q 2023 © 2023 Lantheus. All rights reserved. 22
Slide 23: Reconciliation of GAAP to Non-GAAP Financial Measures
Reconciliation of GAAP to Non-GAAP Financial Measures (in thousands, except per share data – unaudited) © 2023 Lantheus. All rights reserved. 23
Slide 24: Consolidated Statement of Operations
Consolidated Statement of Operations (in thousands, except per share data – unaudited) © 2023 Lantheus. All rights reserved. 24
Slide 25: Consolidated Segment Revenues Analysis
Consolidated Segment Revenues Analysis (in thousands – unaudited) © 2023 Lantheus. All rights reserved. 25
Slide 26: Reconciliation of Free Cash Flow
Reconciliation of Free Cash Flow (in thousands – unaudited) © 2023 Lantheus. All rights reserved. 26
Slide 27: Condensed Consolidated Balance Sheet
Condensed Consolidated Balance Sheet (in thousands – unaudited) © 2023 Lantheus. All rights reserved. 27
Slide 28: Proven Management Team with Deep Industry Expertise
Proven Management Team with Deep Industry Expertise Mary Anne Heino Paul Blanchfield Robert Marshall Chief Executive Officer President Chief Financial Officer and 2013 2020 Treasurer 2018 Previously: Janssen, Centocor, Inc, Previously: Takeda, Shire, Previously: Zimmerbiomet, Angleini, Labopharm McK