Indivior Pharmaceuticals, Inc. · NASDAQ:INDV
Indivior Pharmaceuticals — Q1 2026 Earnings Presentation
30 slides from Indivior Pharmaceuticals's earnings presentation, Apr 30, 2026
Slide 1: Q1 2026 Financial Results
Indivior, Powering Recovery, Renewing Hope. Q1 2026 Financial Results April 30, 2026
Slide 2: Important Cautionary Statement Regarding Forward-Looking Statements
IMPORTANT CAUTIONARY STATEMENT REGARDING FORWARD- LOOKING STATEMENTS This presentation contains certain statements that are forward-looking. Forward-looking statements include, among other things, express and implied statements regarding: expected acceleration of SUBLOCADE U.S. dispense unit and net
Slide 3: Joe Ciaffoni, Chief Executive Officer
Joe Ciaffoni Chief Executive Officer
Slide 4: Call Agenda
CALL AGENDA Execution Against the Indivior Action Agenda Joe Ciaffoni, CEO SUBLOCADE® Commercial Update Patrick Barry, CCO Pipeline Update Christian Heidbreder, CSO Q1 2026 Performance & FY 2026 Guidance Ryan Preblick, CFO Conclusion Joe Ciaffoni, CEO Q&A All participants Q1 2026 RESULTS | APRIL 30,
Slide 5: Q1 2026 Business Performance Highlights
Q1 2026 BUSINESS PERFORMANCE HIGHLIGHTS Total Net Revenue SUBLOCADE Net Revenue Adjusted EBITDA1 +19% +32% $317m +112% $232m $164m $266m $176m $78m 52% 29% Q1'25 Q1'26 Q1'25 Q1'26 Q1'25 Q1'26 Adjusted EBITDA margin2 Executing Capital Deployment Strategy Opportunistically returned value to shareholde
Slide 6: The Indivior Action Agenda
THE INDIVIOR ACTION AGENDA Phase III – Breakout (H2’26 – Beyond) • Leverage strengthened financial profile to acquire next growth drivers Phase II – Accelerate (Began Jan. 2026) • Accelerate U.S. SUBLOCADE dispense unit and net revenue throughout 2026 • Immediately accelerate adjusted EBITDA and cas
Slide 7: Entered Phase II – Accelerate – on January 1, 2026
ENTERED PHASE II – ACCELERATE – ON JANUARY 1, 2026 Immediately Accelerate Adjusted EBITDA and Cash Accelerate U.S. SUBLOCADE Generation at a Faster Rate than Net Revenue Expect mid-teens dispense unit growth Non-GAAP operating expenses will not exceed $450m; in 2026 from 7% in 2025 ~$340m in cash fl
Slide 8: Patrick Barry, Chief Commercial Officer
Patrick Barry Chief Commercial Officer
Slide 9: Q1 2026 U.S. SUBLOCADE Performance
Q1 2026 U.S. SUBLOCADE PERFORMANCE* TTM SUBLOCADE Patients1 Strong SUBLOCADE Dispense Growth2 +12% >500K YoY +20% +6% YoY QoQ +1% 191,600 QoQ 170,700 181,300 U.S. patients prescribed 181,100 182,600 151,900 SUBLOCADE since launch +29% // // Q1'25 Q4'25 Q1'26 Q1'25 Q4'25 Q1'26 ~ Growing SUBLOCADE Pre
Slide 10: Progress on Sustained Initiatives to Accelerate SUBLOCADE
PROGRESS ON SUSTAINED INITIATIVES TO ACCELERATE SUBLOCADE Expanding Patient Awareness Unlocking Access Through Policy Improving Commercial Execution and Engagement Leadership • 9% of new patients receiving accelerated second dose exiting • DTC Campaign ("Move Forward • Advancing state and federal Q1
Slide 11: Christian Heidbreder, Chief Scientific Officer
Christian Heidbreder Chief Scientific Officer
Slide 12: Pipeline Update: INDV-6001 Buprenorphine Caproate
PIPELINE UPDATE INDV-6001 Buprenorphine Caproate
Slide 13: Framework for INDV-6001 No Go Decision to Commit to Clinical Phase 3
FRAMEWORK FOR INDV-6001 “NO GO” DECISION TO COMMIT TO CLINICAL PHASE 3 • Delivered key Phase 2 scientific objectives, including a supportive safety profile, predictable pharmacokinetics, and constructive FDA engagement. • Demonstrated the potential for extended dosing intervals, including evaluation
Slide 14: Pipeline Update: INDV-2000 Rocavorexant
PIPELINE UPDATE INDV-2000 Rocavorexant
Slide 15: INDV-2000: Top-Line Data Phase 2 Clinical Proof-of-Concept
INDV-2000: TOP-LINE DATA PHASE 2 CLINICAL PROOF-OF-CONCEPT • Phase 2 proof-of-concept study did not meet the pre-specified primary endpoint of no treatment failure* at Week 12 across the Strategic path: full dose range versus placebo. External business • Interpretation of the overall dose-response w
Slide 16: Ryan Preblick, Chief Financial Officer
Ryan Preblick Chief Financial Officer
Slide 17: Q1 2026 Financial Highlights
Q1 2026 FINANCIAL HIGHLIGHTS OPERATING RESULTS: KEY TAKEAWAYS: $ mil Q1 2026 Q1 2025 Δ Total Net Revenue (NR): 317 266 19% Total SUBLOCADE NR: 232 176 32% Total Net Revenue (+19% vs. Q1’25) was primarily driven by strong SUBLOCADE net revenue growth in the U.S. (+33% YoY) Gross Profit: 277 221 25% G
Slide 18: Raising 2026 Financial Guidance
RAISING 2026 FINANCIAL GUIDANCE Previous Guidance Updated Guidance1 YoY Change2 (2/26/2026) (4/30/2026) Total Net Revenue $1,125m - $1,195m $1,215m - $1,285m +1% SUBLOCADE Net $905m - $945m $950m - $990m +13% Revenue Non-GAAP Operating $430m - $450m $430m - $450m -29% Expenses3 Adjusted EBITDA3 $535
Slide 19: 2026 Capital Deployment Strategy
2026 CAPITAL DEPLOYMENT STRATEGY DEBT MANAGEMENT Completed offering of $500m $201m in cash and investments as of 3/31/26 convertible senior notes due in 2031; proceeds used to repay $333m term loan SHARE REPURCHASES Repurchased ~4m shares at an ~$340m in cash flow from operations expected in 20261 a
Slide 20: Concluding Remarks
Concluding Remarks
Slide 21: Clear Focus on Executing Indivior Action Agenda and Delivering on Commitments
CLEAR FOCUS ON EXECUTING INDIVIOR ACTION AGENDA AND DELIVERING ON COMMITMENTS Execute on Deliver on 2026 Strategically deploy Phase II – Accelerate – financial guidance capital to create long- of the Indivior Action term value for Agenda shareholders Q1 2026 RESULTS | APRIL 30, 2026 21
Slide 22: Q&A
SG INDIVIOR’ Q&A
Slide 23: Appendix
Appendix
Slide 24: Non-GAAP Gross Profit Reconciliation
NON-GAAP GROSS PROFIT RECONCILIATION Three Months Ended March 31, 2026 2025 GAAP gross profit $ 277 $ 221 Manufacturing transition 1 — Adjustments in cost of sales 2 — Non-GAAP Gross Profit $ 278 $ 221 Columns may not foot due to rounding. Q1 2026 RESULTS | APRIL 30, 2026 24
Slide 25: Non-GAAP Operating Expenses Reconciliation
NON-GAAP OPERATING EXPENSES RECONCILIATION Three Months Ended March 31, 2026 2025 GAAP operating expenses $ 139 $ 156 Share-based compensation 9 6 Corporate initiative transition1 14 1 Litigation settlement expense — 1 Less: Adjustments in operating expenses 23 9 Non-GAAP operating expenses $ 116 $
Slide 26: Non-GAAP SG&A Reconciliation
NON-GAAP SG&A RECONCILIATION Three Months Ended March 31, 2026 2025 GAAP selling, general and administrative expenses $ 124 $ 133 Share-based compensation 9 6 Corporate initiative transition1 7 1 Litigation settlement expenses — 1 Less: Adjustments in selling, general and administrative expenses 16
Slide 27: Non-GAAP Research & Development Reconciliation
NON-GAAP RESEARCH & DEVELOPMENT RECONCILIATION Three Months Ended March 31, 2026 2025 GAAP research and development expenses $ 16 $ 22 Corporate initiative transition 7 — Less: Adjustments in research and development expenses 7 — Non-GAAP research and development expenses $ 9 $ 22 Columns may not fo
Slide 28: Non-GAAP Net Income Reconciliations
NON-GAAP NET INCOME RECONCILIATIONS Three Months Ended March 31, 2026 2025 GAAP net income $ 89 $ 47 Adjustments in cost of sales 2 — Adjustments in operating expenses 23 9 Loss on debt extinguishment 18 — Adjustments in tax expenses (9) — Non-GAAP net income $ 123 $ 56 Shares used in computing dilu
Slide 29: Adjusted EBITDA Reconciliations
ADJUSTED EBITDA RECONCILIATIONS Three Months Ended March 31, 2026 2025 Net income $ 89 $ 47 Interest (income) (3) (4) Interest expense 7 12 Income tax (benefit) expense 26 11 Depreciation and amortization 2 3 Share-based compensation expense 9 6 Corporate initiative transition 14 1 Manufacturing tra
Slide 30: SUBLOCADE Indication and Highlighted Safety Information
SUBLOCADE® (buprenorphine extended-release) injection, for subcutaneous use (CIII) INDICATION SUBLOCADE is indicated for the treatment of moderate to severe opioid use disorder in patients who have initiated treatment with a single dose of a transmucosal buprenorphine product or who are already bein
Indivior Pharmaceuticals — Q1 2026 Earnings Presentation on 6ix