Lantheus Holdings, Inc. · NASDAQ:LNTH
Lantheus — Q3 2024 Earnings Presentation
28 slides from Lantheus's earnings presentation, Nov 6, 2024
Slide 1: Lantheus Third Quarter 2024 Results
Lantheus Third Quarter 2024 Results November 6, 2024 © 2024 Lantheus. All rights reserved.
Slide 2: Agenda and Speakers
SPEAKERS / Q&A AGENDA Highlights & Business Update Operational Update Brian Markison Paul Blanchfield Bob Marshall Mark Kinarney CEO President CFO and Treasurer Vice President, Investor Relations Financial Update Q&A Closing Remarks Q&A Jeff Humphrey, MD Amanda Morgan Chief Medical Officer Chief Com
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 / Q&A Highlights & Business Update Operational Update Brian Markison Paul Blanchfield Bob Marshall Mark Kinarney CEO President CFO and Treasurer Vice President, Investor Relations Financial Update Q&A Closing Remarks Q&A Jeff Humphrey, MD Amanda Morgan Chief Medical Officer Chief Com
Slide 5: Lantheus: The Leading Radiopharmaceutical-Focused Company
Lantheus: The Leading Radiopharmaceutical-Focused Company Solid Revenue and Delivering long-term sustainable growth and value for shareholders Earnings1 Total Revenue: $378.7 (+18.4%) Adjusted EPS: $1.70 (+15.6%) Growing pipeline of diagnostic and Executing on our therapeutic strategy radiopharmaceu
Slide 6: Agenda
AGENDA SPEAKERS / Q&A Highlights & Business Update Operational Update Brian Markison Paul Blanchfield Bob Marshall Mark Kinarney CEO President CFO and Treasurer Vice President, Investor Relations Financial Update Q&A Closing Remarks Q&A Jeff Humphrey, MD Amanda Morgan Chief Medical Officer Chief Com
Slide 7: Market Leadership
Utilized PSMA PET Imaging Agent1 $259.8M +20.6% Growth 3Q 2024 Net Sales Year-over-Year 2024 $791.9M >$1B in sales MARKET 2024 YTD Net Sales on track for 2024 LEADERSHIP • Increasing volumes year-over-year with a slight net price offset due to strategic partnerships • Multi-faceted strategy to susta
Slide 8: Precision Diagnostics
Precision Diagnostics $77.0M • 3Q slightly higher due to competitor supply challenges 3Q 2024 Net Sales • Long-term success driven by proven clinical & commercial +14.3% value, long-standing track record GROWTH of clinical application & operational excellence Year-over-Year FDA approval for enhanced
Slide 9: Alzheimer's Disease Portfolio
Alzheimer’s Disease Portfolio Advanced clinical-stage PET imaging agents • Tau PET tracer currently utilized in 119 ongoing academic and industry sponsored clinical trials1 • Dynamic range may represent an advantage for MK-6240 longitudinal assessment of tau progress or treatment next-generation 18F
Slide 10: Innovation that Makes an Impact: Advancing our Radiopharmaceutical Pipeline
Innovation that Makes an Impact Advancing our Radiopharmaceutical Pipeline Candidate Target Isotope Indication/Disease Area Pre-Clinical Phase I Phase II Phase III Reg. Filling PNT20021 PSMA 177Lu Metastatic Prostate Cancer Prostate LNTH-24012 GRPR 68Ga Metastatic Prostate Cancer Cancer LNTH-24023 G
Slide 11: Agenda
AGENDA SPEAKERS / Q&A Highlights & Business Update Operational Update Brian Markison Paul Blanchfield Bob Marshall Mark Kinarney CEO President CFO and Treasurer Vice President, Investor Relations Financial Update Q&A Closing Remarks Q&A Jeff Humphrey, MD Amanda Morgan Chief Medical Officer Chief Com
Slide 12: Continued Strong Financial Performance in 3Q 2024
Continued Strong Financial Performance in 3Q 2024 USD Millions Total Revenue Other Precision Diagnostics Strategic Partnerships & Other +$58.8 +18.4% TechneLite INCREASE $20.5 (-12.0%) DEFINITY $378.7 $77.0 (+14.3%) PYLARIFY $319.9 $259.8 (+20.6%) 3Q 2023 3Q 2024 © 2024 Lantheus. All rights reserved
Slide 13: 3Q 2024 Financial Highlights
3Q 2024 Financial Highlights1 Gross Profit Margin Adjusted Net Income Adjusted EPS USD Millions USD +109 bp Operating Profit +$21.0 +20.4% +15.6% +$0.23 +18.3% INCREASE INCREASE Effective Tax Rate 124.1 27.1% 1.47 1.70 103.1 Weighted Average, Fully Diluted Shares Outstanding 73.1M 3Q 2023 3Q 2024 3Q
Slide 14: Growing Capital Resources Provide Financial Flexibility
Growing Capital Resources Provide Financial Flexibility1 USD Millions Cash Flow Summary Free Cash Flow2 Resources Three Months Ending September 30 (3Q 2024) 2023 2024 +$57.1 INCREASE Cash provided by operations $116.7 $175.1 $866.4M CASH ON HAND3 Cash provided $159.3 by (used in) $83.2 ($67.8) inves
Slide 15: Updated FY 2024 Financial Guidance
Updated FY 2024 Financial Guidance1 The Company guidance for the full year 2024 is as follows: Prior Revenue $1.50B – $1.52B Current Revenue $1.51B – $1.52B FY 2024 Prior Adjusted Fully Diluted EPS2 $6.60 – $6.70 Current Adjusted Fully Diluted EPS2 $6.65 – $6.70 Guidance Issued November 6, 2024 Narr
Slide 16: Agenda
AGENDA SPEAKERS / Q&A Highlights & Business Update Operational Update Brian Markison Paul Blanchfield Bob Marshall Mark Kinarney CEO President CFO and Treasurer Vice President, Investor Relations Financial Update Q&A Closing Remarks Q&A Jeff Humphrey, MD Amanda Morgan Chief Medical Officer Chief Com
Slide 17: Lantheus, the Leading Radiopharmaceutical-Focused Company: Key Takeaways
Lantheus, the Leading Radiopharmaceutical-Focused Company 3Q 2024 Key Takeaways PYLARIFY Strong Liquidity position on track to reach >$1B in sales in 2024 Allows for ongoing investment both organic and inorganically >5.2M and maintain blockbuster status in 2025 Strengthening patient lives impacted R
Slide 18: Agenda
SPEAKERS / Q&A AGENDA Highlights & Business Update Operational Update Brian Markison Paul Blanchfield Bob Marshall Mark Kinarney CEO President CFO and Treasurer Vice President, Investor Relations Financial Update Q&A Closing Remarks Q&A Jeff Humphrey, MD Amanda Morgan Chief Medical Officer Chief Com
Slide 19: Appendix
Appendix © 2024 Lantheus. All rights reserved. 19
Slide 20: Condensed Consolidated Statement of Operations – 3Q 2024
Condensed Consolidated Statement of Operations – 3Q 2024 © 2024 Lantheus. All rights reserved. 20
Slide 21: As Adjusted Condensed Consolidated Statement of Operations – 3Q 2024
As Adjusted Condensed Consolidated Statement of Operations – 3Q 2024 © 2024 Lantheus. All rights reserved. 21
Slide 22: Condensed Consolidated Statement of Operations – FY 3Q 2024
Condensed Consolidated Statement of Operations – FY 3Q 2024 © 2024 Lantheus. All rights reserved. 22
Slide 23: As Adjusted Condensed Consolidated Statement of Operations – FY 3Q 2024
As Adjusted Condensed Consolidated Statement of Operations – FY 3Q 2024 © 2024 Lantheus. All rights reserved. 23
Slide 24: Reconciliation of GAAP to Non-GAAP Financial Measures
Reconciliation of GAAP to Non-GAAP Financial Measures (in thousands, except per share data – unaudited) Three Months Ended Nine Months Ended Three Months Ended Nine Months Ended September 30, September 30, September 30, September 30, 2024 2023 2024 2023 2024 2023 2024 2023 Net income $ 131,093 $ 131
Slide 25: Consolidated Statement of Operations
Consolidated Statement of Operations (in thousands, except per share data – unaudited) © 2024 Lantheus. All rights reserved. 25
Slide 26: Consolidated Segment Revenues Analysis
Consolidated Segment Revenues Analysis (in thousands – unaudited) © 2024 Lantheus. All rights reserved. 26
Slide 27: Reconciliation of Free Cash Flow
Reconciliation of Free Cash Flow (in thousands – unaudited) © 2024 Lantheus. All rights reserved. 27
Slide 28: Condensed Consolidated Balance Sheet
Condensed Consolidated Balance Sheet (in thousands – unaudited) © 2024 Lantheus. All rights reserved. 28