Slide 1: Third Quarter 2024 Financial Results & Business Update
Third Quarter 2024 Financial Results & Business Update October 24, 2024
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: Q3 2024 Financial and Operational Performance
Q3 2024 Financial and Operational Performance
Slide 4: Q3 2024 Financial Results Summary
Q3 2024 Financial Results Summary Total Revenue GAAP Net Income GAAP Earnings Per Share Diluted In millions In millions $380.9 $378.1 * $0.55 $92.4 $47.8 $0.28 Q3 2023 Q3 2024 Q3 2023 Q3 2024 Q3 2023 Q3 2024 *Q3 2024 results reflect expiration of royalty on U.S. net sales of INVEGA SUSTENNA® in Augu
Slide 5: Q3 2024 Profitability From Continuing Operations
Q3 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 $150.4 $107.2 $112.3 $121.4 $91.6 $92.8 Q3 2023 Q3 2024 Q3 2023 Q3 2024 Q3 2023 Q3 2024
Slide 6: Q3 2024 Revenue Summary
Q3 2024 Revenue Summary In millions Q3’24 Q3’23 Total Proprietary Net Sales $273.0 $231.8 VIVITROL® $113.7 $99.3 ARISTADA®* $84.7 $81.8 LYBALVI® $74.7 $50.7 Manufacturing & Royalty Revenue $105.1** $149.1 Total Revenue $378.1** $380.9 Amounts in the table above may not sum due to rounding. *Inclusiv
Slide 7: Alkermes: 2024 Financial Expectations
Alkermes: 2024 Financial Expectations* Financial Expectations for Year (in millions) Ending Dec. 31, 2024 Total Revenues $1,500 – $1,600 Expected net sales of proprietary products: COGS $230 – $250 • VIVITROL® net sales of $410M – $430M R&D Expense $225 – $255 SG&A Expense $625 – $655 • ARISTADA® ne
Slide 8: Q3 2024 Commercial Review
Q3 2024 Commercial Review
Slide 9: LYBALVI Performance and Expectations
LYBALVI® Performance and Expectations LYBALVI Quarterly Net Sales ($M) $80 Q3’24 LYBALVI® net sales of $74.7M reflects 47% growth compared to Q3’23 $70 • Q3’24 gross-to-net deductions: ~30% $60 $50 Outlook: $40 • FY’24 net sales expected to range from $30 $275M – $295M* $20 $10 $0 Q1'22 Q2'22 Q3'22
Slide 10: LYBALVI Prescription Growth Trends
LYBALVI® Prescription Growth Trends Post-Launch TRx* (Through 10/11/24) Q3’24 total TRx: 5,000 • ~57,500 reflecting 5% 4,500 sequential growth compared 4,000 to Q2’24 3,500 3,000 TRx 2,500 2,000 1,500 1,000 500 0 11 16 21 26 31 36 41 46 51 56 61 66 71 76 81 86 91 96 1 6 101 106 111 116 121 126 131 1
Slide 11: ARISTADA Performance and Expectations
ARISTADA® Performance and Expectations ARISTADA Quarterly Net Sales* ($M) $90 Q3’24 ARISTADA® net sales were $84.7M $80 Outlook: $70 • FY’24 net sales expected to range from $60 $340M – $360M†* $50 $40 $30 $20 $10 $0 Q1'22 Q2'22 Q3'22 Q4'22 Q1'23 Q2'23 Q3'23 Q4'23 Q1'24 Q2'24 Q3'24 *Inclusive of ARI
Slide 12: VIVITROL Performance and Expectations
VIVITROL® Performance and Expectations VIVITROL Quarterly Net Sales ($M) $120 Q3’24 VIVITROL® net sales were $113.7M Outlook: $100 • FY’24 net sales expected to range from $80 $410M – $430M* $60 $40 $20 $0 Q1'22 Q2'22 Q3'22 Q4'22 Q1'23 Q2'23 Q3'23 Q4'23 Q1'24 Q2'24 Q3'24 * These expectations were in
Slide 13: Appendix
Appendix
Slide 14: Appendix: Amounts Included in Discontinued Operations
Appendix: Amounts Included in Discontinued Operations Three Months Ended (In millions) September 30, 2024 Cost of goods manufactured and sold $ --- Research and development 0.5 Selling, general and administrative --- Income tax benefit $ (0.1) Loss from discontinued operations, net of tax $ 0.4 Thre
Slide 15: Appendix: Financial Results GAAP to EBITDA Adjustments
Appendix: Financial Results GAAP to EBITDA Adjustments Three Months Ended Three Months Ended (In millions) September 30, 2024 September 30, 2023 Net Income from Continuing Operations — GAAP $ 92.8 $ 91.6 Adjustments: Depreciation expense 7.0 8.9 Amortization expense 0.0 9.0 Interest income (10.9) (9
Slide 16: Appendix: Financial Results GAAP to Non-GAAP Adjustments
Appendix: Financial Results GAAP to Non-GAAP Adjustments Three Months Ended Three Months Ended (In millions) September 30, 2024 September 30, 2023 Net Income from Continuing Operations — GAAP $ 92.8 $ 91.6 Adjustments: Share-based compensation expense 22.5 21.7 Depreciation expense 7.0 8.9 Amortizat
Slide 17: Appendix: 2024 Guidance GAAP to EBITDA Adjustments
Appendix: 2024 Guidance GAAP to EBITDA Adjustments Year Ending (In millions) December 31, 2024 Projected Net Income — GAAP $ 370.0 Adjustments: Net interest income (16.0) Depreciation expense 35.0 Amortization expense 1.0 Provision for income taxes 75.0 Projected EBITDA $ 465.0 Projected GAAP and no
Slide 18: Appendix: 2024 Guidance GAAP to Non-GAAP Adjustments
Appendix: 2024 Guidance GAAP to Non-GAAP Adjustments Year Ending (In millions) December 31, 2024 Projected Net Income — GAAP $ 370.0 Adjustments: Share-based compensation expense 86.0 Depreciation expense 35.0 Amortization expense 1.0 Non-cash net interest expense 0.5 Income tax effect related to re
Slide 19: www.alkermes.com
www.alkermes.com © 2024 Alkermes. All rights reserved.