Emergent Biosolutions Inc. · NYSE:EBS
Emergent Biosolutions — Q1 2022 Earnings Presentation
22 slides from Emergent Biosolutions's earnings presentation, Apr 28, 2022
Slide 1: 1Q 2022 Investor Update
1Q 2022 Investor Update April 28, 2022
Slide 2: Introduction
PROPRIETARY AND CONFIDENTIAL 21Q 2022 Investor Update Introduction Robert G. Burrows Vice President, Investor Relations Officer
Slide 3: Forward-looking statements
This presentation includes forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Any statements, other than statements of historical fact, including, without limitation, certain future financial metrics and related projections and statements regarding
Slide 4: Non-GAAP financial measures
This presentation contains four financial measures Adjusted Net Income, Adjusted Net Income Per Diluted Share, Adjusted EBITDA (Earnings Before Interest, Taxes, and Depreciation and Amortization), and Adjusted Gross Margin, all of which are considered “non-GAAP” financial measures under applicable S
Slide 5: Agenda
Agenda 51Q 2022 Investor Update Financial Forecast: -- FY2022 • Rich Lindahl, CFO INTRODUCTION Q&A • Bob Kramer, CEO • Rich Lindahl, CFO • Adam Havey, COO • Atul Saran, EVP, Chief Strategy and Development Officer Financial Results: -- 1Q22 vs. 1Q21 • Rich Lindahl, CFO State of the Company: 1Q22 Revi
Slide 6: 1Q State of the Company
PROPRIETARY AND CONFIDENTIAL1Q 2022 Investor Update State of the Company Bob Kramer President and Chief Executive Officer 6
Slide 7: Key Highlights of First Quarter 2022
Key Highlights of First Quarter 2022 71Q 2022 Investor Update STATE OF THE COMPANY • Generated solid results – hit the upper end of forecasted range for total revenues, exceeded Street consensus estimates for other key performance metrics. • Commercial and MCM business lines performance reflected th
Slide 8: 1Q Financial Results
PROPRIETARY AND CONFIDENTIAL 81Q 2022 Investor Update Financial Results Richard S. Lindahl Executive Vice President and Chief Financial Officer
Slide 9: 1Q22 Summary Points Demonstrating Business Strength
1Q22 Summary Points Demonstrating Business Strength 91Q 2022 Investor Update Government/MCM products business continues to provide stable base revenues from multi-year contracts – notably AV7909, ACAM2000, RSDL, BAT and VIGIV Nasal naloxone products continue to strongly battle the opioid crisis in t
Slide 10: 2022 Forecast – Updated
2022 Forecast – Updated 101Q 2022 Investor Update FINANCIAL RESULTS ( $ I N M I LLI O N S ) The following product revenue metrics are reaffirmed for full year 2022. • Anthrax Vaccines $280-$300 • ACAM2000 $190-$210 • Nasal Naloxone Products $240-$310 • Other Products + Contracts and Grants $200-$260
Slide 11: Key Financial Performance Metrics 1Q22 vs. 1Q21
1 Q 2 1 Key Financial Performance Metrics 1Q22 vs. 1Q21 111Q 2022 Investor Update Total Revenues Adjusted EBITDA1 Adjusted Net Income Per Diluted Share1 Adjusted Net Income1 1. See the Appendix for a definition of non-GAAP terms and reconciliation tables. $343.0 $307.5 $1.53 $0.18 FINANCIAL RESULTS
Slide 12: Key Financial Performance Metrics 1Q22 vs. 1Q21
1 Q 2 1 Key Financial Performance Metrics 1Q22 vs. 1Q21 121Q 2022 Investor Update R&D SG&A Adjusted Gross Margin2Gross Margin2 1. Reflects absolute value for the indicated period expressed as a percentage of total revenues for the indicated period. 2. See the Appendix for a definition of non-GAAP te
Slide 13: CDMO Metrics Trends
66 67 71 70 71 03/31/21 06/30/21 09/30/21 12/31/21 03/31/22 CDMO Metrics Trends1 131Q 2022 Investor Update 1. For 1Q22, the Company is temporarily suspending disclosing CDMO Backlog as of March 31, 2022, pending further clarity on Johnson & Johnson's (J&J) COVID-19 vaccine requirements , influenced
Slide 14: Segment Reporting 1Q22 vs. 1Q21
1 Q 2 1 Segment Reporting 1Q22 vs. 1Q211 141Q 2022 Investor Update Revenue Adjusted Gross Margin $ Adjusted Gross Margin % Adjusted Gross Margin $ Adjusted Gross Margin % Revenue 1. For additional detail related to the method and specific inputs by which both revenue and adjusted gross margin are ca
Slide 15: Balance Sheet & Cash Flow Metrics
Balance Sheet & Cash Flow Metrics 151Q 2022 Investor Update 1. Debt amount indicated on the Company’s balance sheet is net of unamortized debt issuance costs of $8.0M. 2. Net Debt is calculated as Total Debt minus Cash. FINANCIAL RESULTS As of March 31, 2022 For the Three Months Ended March 31, 2022
Slide 16: Key Takeaways
Delivered another period of solid performance in our Products segment, offset by continued re- baselining of our Services segment as we move past the influence of COVID heightened activities. Key Takeaways 161Q 2022 Investor Update FINANCIAL RESULTS Continued to see significant opportunity for our C
Slide 17: Q&A
PROPRIETARY AND CONFIDENTIAL 171Q 2022 Investor Update Q&A
Slide 18: Appendix
181Q 2022 Investor Update Appendix
Slide 19: Reconciliation of Net Income to Adjusted Net Income
Reconciliation of Net Income to Adjusted Net Income – 1Q22 vs. 1Q21 191Q 2022 Investor Update APPENDIX ( $ I N M I L L I O N S , E X C E P T P E R S H A R E A M O U N T S ) T H R E E M O N T H S E N D E D M A R C H 3 1 , 2 0 2 2 2 0 2 1 S O U R C E Net income (loss) ($3.7) $69.7 Adjustments: + Non-c
Slide 20: Reconciliation of Net Income to Adjusted EBITDA
Reconciliation of Net Income to Adjusted EBITDA – 1Q22 vs. 1Q21 201Q 2022 Investor Update APPENDIX ( $ I N M I L L I O N S ) T H R E E M O N T H S E N D E D M A R C H 3 1 , 2 0 2 2 2 0 2 1 Net income (loss) ($3.7) $69.7 Adjustments: + Depreciation & amortization 30.9 28.7 + Income taxes (0.1) 15.5 +
Slide 21: Reconciliation of Gross Margin and Adjusted Gross Margin
Reconciliation of Gross Margin and Adjusted Gross Margin – 1Q22 vs. 1Q21 211Q 2022 Investor Update APPENDIX ( $ I N M I L L I O N S ) T H R E E M O N T H S E N D E D M A R C H 3 1 , 2 0 2 2 2 0 2 1 Net revenues $307.5 $343.0 - Contracts and grants revenues 9.6 21.3 Adjusted revenues $297.9 $321.7 Co
Slide 22: www.emergentbiosolutions.com
www.emergentbiosolutions.com
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