Alkermes plc Reports Second Quarter 2025 Financial Results
Alkermes (NASDAQ:ALKS) reported strong Q2 2025 financial results with total revenues of $390.7 million and GAAP net income of $87.1 million ($0.52 per share). The company demonstrated robust performance across its proprietary product portfolio, with LYBALVI reaching $84.3 million (18% growth), ARISTADA at $101.3 million (18% growth), and VIVITROL at $121.7 million (9% growth).
The company maintained a strong balance sheet with $1.05 billion in cash and investments as of June 30, 2025, up from $916.2 million in Q1. Additionally, Alkermes announced positive topline results from its Vibrance-1 phase 2 study of alixorexton in narcolepsy type 1, with detailed results to be presented at the upcoming World Sleep Congress.
The company reiterated its 2025 financial expectations and continues to demonstrate solid profitability with Adjusted EBITDA of $126.5 million for the quarter.Alkermes (NASDAQ:ALKS) ha riportato solidi risultati finanziari nel secondo trimestre 2025 con ricavi totali di 390,7 milioni di dollari e un utile netto GAAP di 87,1 milioni di dollari (0,52 dollari per azione). L'azienda ha mostrato una performance robusta nel suo portafoglio di prodotti proprietari, con LYBALVI che ha raggiunto 84,3 milioni di dollari (crescita del 18%), ARISTADA a 101,3 milioni di dollari (crescita del 18%) e VIVITROL a 121,7 milioni di dollari (crescita del 9%).
L'azienda ha mantenuto un bilancio solido con 1,05 miliardi di dollari in liquidità e investimenti al 30 giugno 2025, in aumento rispetto ai 916,2 milioni di dollari del primo trimestre. Inoltre, Alkermes ha annunciato risultati positivi preliminari dal suo studio di fase 2 Vibrance-1 sull'alixorexant nella narcolessia di tipo 1, con risultati dettagliati che saranno presentati al prossimo Congresso Mondiale del Sonno.
L'azienda ha ribadito le sue aspettative finanziarie per il 2025 e continua a mostrare una solida redditività con un EBITDA rettificato di 126,5 milioni di dollari nel trimestre.
Alkermes (NASDAQ:ALKS) reportó sólidos resultados financieros en el segundo trimestre de 2025 con ingresos totales de 390,7 millones de dólares y una ganancia neta GAAP de 87,1 millones de dólares (0,52 dólares por acción). La compañía mostró un desempeño robusto en su portafolio de productos propios, con LYBALVI alcanzando 84,3 millones de dólares (crecimiento del 18%), ARISTADA con 101,3 millones de dólares (crecimiento del 18%) y VIVITROL con 121,7 millones de dólares (crecimiento del 9%).
La empresa mantuvo un balance sólido con 1,05 mil millones de dólares en efectivo e inversiones al 30 de junio de 2025, aumentando desde 916,2 millones en el primer trimestre. Además, Alkermes anunció resultados positivos preliminares de su estudio de fase 2 Vibrance-1 sobre alixorexant en narcolepsia tipo 1, con resultados detallados que se presentarán en el próximo Congreso Mundial del Sueño.
La compañía reiteró sus expectativas financieras para 2025 y continúa demostrando una sólida rentabilidad con un EBITDA ajustado de 126,5 millones de dólares para el trimestre.
Alkermes (NASDAQ:ALKS)는 2025년 2분기 강력한 재무 실적을 발표했으며, 총 수익은 3억 9,070만 달러, GAAP 순이익은 8,710만 달러 (주당 0.52달러)를 기록했습니다. 회사는 자체 제품 포트폴리오 전반에 걸쳐 견고한 성과를 보였으며, LYBALVI는 8,430만 달러 (18% 성장), ARISTADA는 1억 130만 달러 (18% 성장), VIVITROL은 1억 2,170만 달러 (9% 성장)를 달성했습니다.
회사는 2025년 6월 30일 기준 10억 5천만 달러의 현금 및 투자 자산을 보유하며 강력한 재무 상태를 유지했으며, 이는 1분기 9억 1,620만 달러에서 증가한 수치입니다. 또한 Alkermes는 기면증 1형 치료제인 알릭소렉산트에 대한 2상 임상 Vibrance-1의 긍정적인 초기 결과를 발표했으며, 자세한 결과는 다가오는 세계 수면 학회에서 발표될 예정입니다.
회사는 2025년 재무 전망을 재확인했으며, 이번 분기 조정 EBITDA는 1억 2,650만 달러로 견고한 수익성을 지속하고 있습니다.
Alkermes (NASDAQ:ALKS) a publié de solides résultats financiers pour le deuxième trimestre 2025 avec un chiffre d'affaires total de 390,7 millions de dollars et un bénéfice net GAAP de 87,1 millions de dollars (0,52 dollar par action). La société a démontré une performance robuste à travers son portefeuille de produits propriétaires, avec LYBALVI atteignant 84,3 millions de dollars (croissance de 18 %), ARISTADA à 101,3 millions de dollars (croissance de 18 %) et VIVITROL à 121,7 millions de dollars (croissance de 9 %).
L'entreprise a maintenu un bilan solide avec 1,05 milliard de dollars en liquidités et investissements au 30 juin 2025, en hausse par rapport à 916,2 millions au premier trimestre. De plus, Alkermes a annoncé des résultats positifs préliminaires de son étude de phase 2 Vibrance-1 sur l'alixorexant dans la narcolepsie de type 1, avec des résultats détaillés qui seront présentés lors du prochain Congrès mondial du sommeil.
L'entreprise a réitéré ses prévisions financières pour 2025 et continue de démontrer une rentabilité solide avec un EBITDA ajusté de 126,5 millions de dollars pour le trimestre.
Alkermes (NASDAQ:ALKS) meldete starke Finanzergebnisse für das zweite Quartal 2025 mit einem Gesamtumsatz von 390,7 Millionen US-Dollar und einem GAAP-Nettogewinn von 87,1 Millionen US-Dollar (0,52 US-Dollar je Aktie). Das Unternehmen zeigte eine robuste Leistung in seinem eigenen Produktportfolio, wobei LYBALVI 84,3 Millionen US-Dollar (18 % Wachstum), ARISTADA 101,3 Millionen US-Dollar (18 % Wachstum) und VIVITROL 121,7 Millionen US-Dollar (9 % Wachstum) erreichten.
Das Unternehmen hielt eine starke Bilanz mit 1,05 Milliarden US-Dollar an Barmitteln und Investitionen zum 30. Juni 2025, ein Anstieg gegenüber 916,2 Millionen im ersten Quartal. Darüber hinaus kündigte Alkermes positive vorläufige Ergebnisse aus der Phase-2-Studie Vibrance-1 mit Alixorexant bei Narkolepsie Typ 1 an, detaillierte Ergebnisse werden auf dem kommenden World Sleep Congress präsentiert.
Das Unternehmen bestätigte seine Finanzprognosen für 2025 und zeigt weiterhin eine solide Rentabilität mit einem bereinigten EBITDA von 126,5 Millionen US-Dollar im Quartal.
- Strong Q2 revenue performance of $390.7M with GAAP net income of $87.1M
- Double-digit growth in proprietary products: LYBALVI (18%) and ARISTADA (18%)
- Robust cash position of $1.05B, increased from $916.2M in Q1 2025
- Positive topline results from Vibrance-1 phase 2 study in narcolepsy type 1
- Solid profitability with Adjusted EBITDA of $126.5M
- Total revenues decreased year-over-year from $399.1M to $390.7M
- Manufacturing and royalty revenues declined from $129.9M to $83.4M
- EBITDA decreased from $114.7M in Q2 2024 to $101.6M in Q2 2025
- R&D expenses increased 30% year-over-year to $77.4M
Insights
Alkermes reports solid Q2 with 14% growth in proprietary product sales and positive narcolepsy trial results, maintaining full-year guidance.
Alkermes delivered Q2 2025 revenues of
All three of Alkermes' proprietary products demonstrated strong performance: LYBALVI (antipsychotic) revenues grew
Profitability remains robust with GAAP net income of
Beyond financials, Alkermes reached a significant clinical milestone with positive topline results from its Vibrance-1 Phase 2 study of alixorexton (ALKS 2680) in narcolepsy type 1. The company plans to share detailed results at the upcoming World Sleep Congress and will initiate a global Phase 3 program, representing a potential new growth driver. The announcement of Vibrance-2 topline results for narcolepsy type 2 expected this fall should provide additional catalysts.
R&D expenses increased
— Second Quarter Revenues of
— GAAP Net Income of
— Company Reiterates 2025 Financial Expectations —
— Alkermes to Present Detailed Vibrance-1 Results at Upcoming World Sleep Congress —
"Our second quarter results reflect strong performance across all three of our proprietary products and robust profitability and cash flow generation," said Richard Pops, Chief Executive Officer of Alkermes. "Against the backdrop of solid financial performance, the recently announced positive topline results from Vibrance-1, our phase 2 study of alixorexton (ALKS 2680) in narcolepsy type 1, were an important milestone in the development program and underscore the differentiated features of alixorexton. These data also highlight the potential of orexin 2 receptor agonists to transform the treatment of narcolepsy. As we prepare to initiate a global phase 3 program, we look forward to sharing detailed results from Vibrance-1 at the upcoming World Sleep Congress and topline results from our Vibrance-2 study in patients with narcolepsy type 2 this fall."
Key Financial Highlights
Revenues | |||||||||
(In millions) | Three Months Ended June 30, | Six Months Ended | |||||||
2025 | 2024 | 2025 | 2024 | ||||||
Total Revenues | $ | 390.7 | $ | 399.1 | $ | 697.2 | $ | 749.5 | |
Total Proprietary Net Sales | $ | 307.2 | $ | 269.3 | $ | 551.7 | $ | 502.8 | |
VIVITROL® | $ | 121.7 | $ | 111.9 | $ | 222.7 | $ | 209.5 | |
ARISTADA®i | $ | 101.3 | $ | 86.0 | $ | 174.8 | $ | 164.9 | |
LYBALVI® | $ | 84.3 | $ | 71.4 | $ | 154.3 | $ | 128.4 | |
Profitability | |||||||||
(In millions) | Three Months Ended | Six Months Ended | |||||||
2025 | 2024 | 2025 | 2024 | ||||||
GAAP Net Income From Continuing Operations | $ | 87.1 | $ | 94.7 | $ | 109.6 | $ | 133.6 | |
GAAP Net Income (Loss) From Discontinued Operations | $ | -- | $ | (3.3) | $ | -- | $ | (5.4) | |
GAAP Net Income | $ | 87.1 | $ | 91.4 | $ | 109.6 | $ | 128.2 | |
EBITDA From Continuing Operations | $ | 101.6 | $ | 118.6 | $ | 124.3 | $ | 170.1 | |
EBITDA From Discontinued Operations | $ | -- | $ | (3.9) | $ | -- | $ | (6.4) | |
EBITDA | $ | 101.6 | $ | 114.7 | $ | 124.3 | $ | 163.7 | |
Adjusted EBITDA | $ | 126.5 | $ | 135.3 | $ | 172.1 | $ | 217.1 | |
Revenue Highlights
LYBALVI
- Revenues for the quarter were
$84.3 million - Revenues and total prescriptions for the quarter grew
18% and22% , respectively, compared to the second quarter of 2024.
ARISTADAi
- Revenues for the quarter were
$101.3 million - Revenues for the quarter grew
18% compared to the second quarter of 2024. - During the quarter, the company recorded ARISTADA revenue of approximately
$11.0 million
VIVITROL
- Revenues for the quarter were
$121.7 million - Revenues for the quarter grew
9% compared to the second quarter of 2024. - During the quarter, the company recorded VIVITROL revenue of approximately
$9.0 million
Manufacturing & Royalty Revenues
- VUMERITY® manufacturing and royalty revenues for the quarter were
$39.4 million - Royalty revenues from XEPLION®, INVEGA TRINZA®/TREVICTA® and INVEGA HAFYERA®/BYANNLI® for the quarter were
$30.3 million
Key Operating Expenses
Please see Note 1 below for details regarding discontinued operations.
(In millions) | Three Months Ended | Six Months Ended | ||||||
2025 | 2024 | 2025 | 2024 | |||||
R&D Expense – Continuing Operations | $ | 77.4 | $ | 59.6 | $ | 149.2 | $ | 127.3 |
R&D Expense – Discontinued Operations | $ | -- | $ | 3.9 | $ | -- | $ | 6.4 |
SG&A Expense – Continuing Operations | $ | 170.8 | $ | 168.1 | $ | 342.6 | $ | 347.9 |
SG&A Expense – Discontinued Operations | $ | -- | $ | -- | $ | -- | $ | -- |
Balance Sheet
At June 30, 2025, the company recorded cash, cash equivalents and total investments of
Financial Expectations for 2025
Alkermes reiterates its financial expectations for 2025, as set forth in its press release dated Feb. 12, 2025.
Notes and Explanations
1. The company determined that upon the separation of its former oncology business, completed on Nov. 15, 2023, the oncology business met the criteria for discontinued operations in accordance with Financial Accounting Standards Board Accounting Standards Codification 205, Discontinued Operations. Accordingly, the accompanying selected financial information has been updated to present the results of the oncology business as discontinued operations for the three and six months ended June 30, 2024.
Conference Call
Alkermes will host a conference call and webcast presentation with accompanying slides at 8:00 a.m. ET (1:00 p.m. BST) on Tuesday, July 29, 2025, to discuss these financial results and provide an update on the company. The webcast may be accessed on the Investors section of Alkermes' website at www.alkermes.com. The conference call may be accessed by dialing +1 877 407 2988 for
About Alkermes plc
Alkermes plc is a global biopharmaceutical company that seeks to develop innovative medicines in the field of neuroscience. The company has a portfolio of proprietary commercial products for the treatment of alcohol dependence, opioid dependence, schizophrenia and bipolar I disorder, and a pipeline of clinical and preclinical candidates in development for neurological disorders, including narcolepsy and idiopathic hypersomnia. Headquartered in
Non-GAAP Financial Measures
This press release includes information about certain financial measures that are not prepared in accordance with generally accepted accounting principles in the
EBITDA represents earnings before interest, tax, depreciation and amortization. Adjusted EBITDA excludes share-based compensation expense in addition to the components of EBITDA from earnings.
The company's management and board of directors utilize these non-GAAP financial measures to evaluate the company's performance. The company provides these non-GAAP financial measures of the company's performance to investors because management believes that these non-GAAP financial measures, when viewed with the company's results under GAAP and the accompanying reconciliations, are useful in identifying underlying trends in ongoing operations. However, EBITDA and Adjusted EBITDA are not measures of financial performance under GAAP and, accordingly, should not be considered as alternatives to GAAP measures as indicators of operating performance. Further, EBITDA and Adjusted EBITDA should not be considered measures of the company's liquidity.
A reconciliation of GAAP to non-GAAP financial measures has been provided in the tables included in this press release.
Note Regarding Forward-Looking Statements
Certain statements set forth in this press release 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: the company's expectations concerning its future financial and operating performance, business plans or prospects; and the company's expectations regarding development plans, activities and timelines for, and the potential therapeutic and commercial value of, alixorexton (formerly referred to as ALKS 2680). The company cautions that forward-looking statements are inherently uncertain. The forward-looking statements are neither promises nor guarantees and they are necessarily subject to a high degree of uncertainty and risk. Actual performance and results may differ materially from those expressed or implied in the forward-looking statements due to various risks and uncertainties. These risks and uncertainties include, among others: whether the company is able to achieve its financial expectations; clinical development activities may not be initiated or completed on expected timelines or at all; the results of the company's development activities may not be positive, or predictive of future results from such activities, results of future development activities or real-world results; the company's products or product candidates could be shown to be ineffective or unsafe; the
VIVITROL® is a registered trademark of Alkermes, Inc.; ARISTADA®, ARISTADA INITIO® and LYBALVI® are registered trademarks of Alkermes Pharma Ireland Limited, used by Alkermes, Inc. under license; BYANNLI®, INVEGA HAFYERA®, INVEGA TRINZA®, TREVICTA® and XEPLION® are registered trademarks of Johnson & Johnson or its affiliated companies; and VUMERITY® is a registered trademark of Biogen MA Inc., used by Alkermes under license.
___________________
i The term "ARISTADA" as used in this press release refers to ARISTADA and ARISTADA INITIO®, unless the context indicates otherwise.
Alkermes plc and Subsidiaries | ||||
Selected Financial Information (Unaudited) | ||||
Condensed Consolidated Statements of Operations - GAAP | Three Months Ended | Three Months Ended | ||
(In thousands, except per share data) | June 30, 2025 | June 30, 2024 | ||
Revenues: | ||||
Product sales, net | $ 307,235 | $ 269,273 | ||
Manufacturing and royalty revenues | 83,422 | 129,858 | ||
Total Revenues | 390,657 | 399,131 | ||
Expenses: | ||||
Cost of goods manufactured and sold | 49,460 | 61,472 | ||
Research and development | 77,370 | 59,649 | ||
Selling, general and administrative | 170,849 | 168,113 | ||
Amortization of acquired intangible assets | — | 14 | ||
Total Expenses | 297,679 | 289,248 | ||
Operating Income | 92,978 | 109,883 | ||
Other Income, net: | ||||
Interest income | 11,090 | 10,735 | ||
Interest expense | — | (5,952) | ||
Other income, net | 771 | 2,053 | ||
Total Other Income, net | 11,861 | 6,836 | ||
Income Before Income Taxes | 104,839 | 116,719 | ||
Income Tax Provision | 17,741 | 22,061 | ||
Net Income From Continuing Operations | 87,098 | 94,658 | ||
Loss From Discontinued Operations — Net of Tax | — | (3,300) | ||
Net Income — GAAP | $ 87,098 | $ 91,358 | ||
GAAP Earnings Per Ordinary Share - Basic: | ||||
From continuing operations | $ 0.53 | $ 0.56 | ||
From discontinued operations | $ — | $ (0.02) | ||
From net income | $ 0.53 | $ 0.54 | ||
GAAP Earnings Per Ordinary Share - Diluted: | ||||
From continuing operations | $ 0.52 | $ 0.55 | ||
From discontinued operations | $ — | $ (0.02) | ||
From net income | $ 0.52 | $ 0.53 | ||
Weighted Average Number of Ordinary Shares Outstanding: | ||||
Basic | 164,959 | 168,321 | ||
Diluted | 168,357 | 170,977 | ||
An itemized reconciliation between net income from continuing operations on a GAAP basis and Adjusted EBITDA is as follows: | ||||
Net Income from Continuing Operations | $ 87,098 | $ 94,658 | ||
Adjustments: | ||||
Depreciation and amortization expense | 7,818 | 6,658 | ||
Interest income | (11,090) | (10,735) | ||
Interest expense | — | 5,952 | ||
Income tax provision | 17,741 | 22,061 | ||
EBITDA from Continuing Operations | 101,567 | 118,594 | ||
EBITDA from Discontinued Operations | — | (3,913) | ||
EBITDA | 101,567 | 114,681 | ||
Share-based compensation | 24,966 | 20,601 | ||
Adjusted EBITDA | $ 126,533 | $ 135,282 | ||
Alkermes plc and Subsidiaries | ||||
Selected Financial Information (Unaudited) | ||||
Condensed Consolidated Statements of Operations - GAAP | Six Months Ended | Six Months Ended | ||
(In thousands, except per share data) | June 30, 2025 | June 30, 2024 | ||
Revenues: | ||||
Product sales, net | $ 551,728 | $ 502,809 | ||
Manufacturing and royalty revenues | 145,439 | 246,691 | ||
Research and development revenue | — | 3 | ||
Total Revenues | 697,167 | 749,503 | ||
Expenses: | ||||
Cost of goods manufactured and sold | 98,657 | 120,116 | ||
Research and development | 149,187 | 127,260 | ||
Selling, general and administrative | 342,553 | 347,862 | ||
Amortization of acquired intangible assets | — | 1,073 | ||
Total Expenses | 590,397 | 596,311 | ||
Operating Income | 106,770 | 153,192 | ||
Other Income, net: | ||||
Interest income | 21,231 | 20,134 | ||
Interest expense | — | (11,930) | ||
Other income, net | 2,327 | 2,235 | ||
Total Other Income, net | 23,558 | 10,439 | ||
Income Before Income Taxes | 130,328 | 163,631 | ||
Income Tax Provision | 20,766 | 30,025 | ||
Net Income From Continuing Operations | 109,562 | 133,606 | ||
Loss From Discontinued Operations — Net of Tax | — | (5,420) | ||
Net Income — GAAP | $ 109,562 | $ 128,186 | ||
GAAP Earnings Per Ordinary Share - Basic: | ||||
From continuing operations | $ 0.67 | $ 0.79 | ||
From discontinued operations | $ — | $ (0.03) | ||
From net income | $ 0.67 | $ 0.76 | ||
GAAP Earnings Per Ordinary Share - Diluted: | ||||
From continuing operations | $ 0.65 | $ 0.78 | ||
From discontinued operations | $ — | $ (0.03) | ||
From net income | $ 0.65 | $ 0.75 | ||
Weighted Average Number of Ordinary Shares Outstanding: | ||||
Basic | 164,188 | 168,152 | ||
Diluted | 168,470 | 171,960 | ||
An itemized reconciliation between net income from continuing operations on a GAAP basis and Adjusted EBITDA is as follows: | ||||
Net Income from Continuing Operations | $ 109,562 | $ 133,606 | ||
Adjustments: | ||||
Depreciation and amortization expense | 15,239 | 14,714 | ||
Interest income | (21,231) | (20,134) | ||
Interest expense | — | 11,930 | ||
Income tax provision | 20,766 | 30,025 | ||
EBITDA from Continuing Operations | 124,336 | 170,141 | ||
EBITDA from Discontinued Operations | — | (6,429) | ||
EBITDA | 124,336 | 163,712 | ||
Share-based compensation | 47,776 | 53,356 | ||
Adjusted EBITDA | $ 172,112 | $ 217,068 | ||
Alkermes plc and Subsidiaries | ||||
Selected Financial Information (Unaudited) | ||||
Condensed Consolidated Balance Sheets | June 30, | December 31, | ||
(In thousands) | 2025 | 2024 | ||
Cash, cash equivalents and total investments | $ 1,054,008 | $ 824,816 | ||
Receivables | 354,906 | 389,733 | ||
Inventory | 191,924 | 182,887 | ||
Contract assets | 1,424 | 4,990 | ||
Prepaid expenses and other current assets | 71,295 | 86,077 | ||
Property, plant and equipment, net | 239,399 | 227,564 | ||
Intangible assets, net and goodwill | 83,880 | 83,917 | ||
Deferred tax assets | 155,533 | 154,835 | ||
Other assets | 100,440 | 100,748 | ||
Total Assets | $ 2,252,809 | $ 2,055,567 | ||
Accrued sales discounts, allowances and reserves | $ 253,173 | $ 272,452 | ||
Other current liabilities | 252,789 | 192,747 | ||
Other long-term liabilities | 122,263 | 125,391 | ||
Total shareholders' equity | 1,624,584 | 1,464,977 | ||
Total Liabilities and Shareholders' Equity | $ 2,252,809 | $ 2,055,567 | ||
Ordinary shares outstanding (in thousands) | 165,055 | 162,177 | ||
This selected financial information should be read in conjunction with the consolidated financial statements and notes thereto included in Alkermes plc's Quarterly Report on Form 10-Q for the quarter ended June 30, 2025, which the company intends to file in July 2025. | ||||
Alkermes Contacts: | |
For Investors: | Sandy Coombs +1 781 609 6377 |
For Media: | Katie Joyce +1 781 249 8927 |
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SOURCE Alkermes plc
FAQ
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