Q4 24 EPS
$-0.02
BEAT +96.33%
Est. $-0.54
Q4 24 Revenue
$54.2M
BEAT +165.82%
Est. $20.4M
vs S&P Since Q4 24
-28.0%
TRAILING MARKET
ALEC -2.7% vs S&P +25.3%
Full Year 2024 Results
FY 24 EPS
$-1.23
FY 24 Revenue
$100.6M
Market Reaction
Did ALEC Beat Earnings? Q4 2024 Results
Alector delivered a striking beat across both top and bottom lines in the fourth quarter of 2024, with the clinical-stage neurodegeneration company posting a net loss of just $0.02 per share against a consensus estimate of $0.54, a 96.33% favorable s… Read more Alector delivered a striking beat across both top and bottom lines in the fourth quarter of 2024, with the clinical-stage neurodegeneration company posting a net loss of just $0.02 per share against a consensus estimate of $0.54, a 96.33% favorable surprise, while revenue of $54.24 million cleared the $20.40 million consensus by 165.82% and surged 257.1% year over year. The primary driver was a sharp acceleration in collaboration revenue under the AbbVie Agreement, which contributed heavily to Q4's $54.24 million total before being fully recognized as of December 31, 2024, a timing dynamic management was candid about. That conclusion creates a meaningful revenue step-down ahead, with 2025 collaboration revenue guided to just $5 million to $15 million, while R&D spending is projected at $175 million to $185 million, implying substantially wider losses. Investors will look to the pivotal INFRONT-3 Phase 3 trial of latozinemab in FTD-GRN, with topline data expected by Q4 2025, as the company's most consequential near-term catalyst, backed by a $413.40 million cash runway management says extends through 2026.
Key Takeaways
- • Significant increase in Q4 collaboration revenue driven by recognition of AL002 and latozinemab program revenue
- • Full recognition of AbbVie Agreement collaboration revenue by December 31, 2024
- • R&D expense reduction reflecting strategy to prioritize selected programs
ALEC YoY Financials
Q4 2024 vs Q4 2023, source: SEC Filings
“Alector is entering a potentially transformative period for the company, as we continue to advance our clinical programs toward key milestones while also driving the development of our wholly owned, early-stage pipeline. We look forward to reporting topline data from the pivotal INFRONT-3 Phase 3 trial of latozinemab targeting frontotemporal dementia with a granulin gene mutation by the fourth quarter. Additionally, we expect to complete enrollment in the PROGRESS-AD Phase 2 trial of AL101/GSK4527226 in participants with early Alzheimer's disease by mid-2025.”
— Arnon Rosenthal, Q4 2024 Earnings Press Release
ALEC Earnings Trends
ALEC vs Market 30 Day Price Reactions
30-day stock return vs benchmark after each earnings
ALEC EPS Trend
Earnings per share: estimate vs actual
ALEC Revenue Trend
Quarterly revenue: estimate vs actual
ALEC Quarterly Results
7 quarters of earnings data
| Quarter | EPS Est. | EPS Act. | Surprise | Revenue | Rev. Surprise |
|---|---|---|---|---|---|
| Q2 26 BEAT | $-0.28 | $-0.21 | +24.22% | $1.0M | -90.52% |
| Q1 26 BEAT | $-0.28 | $-0.21 | +24.22% | $1.0M | -90.52% |
| Q4 25 BEAT FY | $-0.36 | $-0.34 | +6.41% | $6.2M | +218.63% |
| FY Full Year | $-1.38 | $-1.39 | -1.09% | $21.0M | +24.39% |
| Q3 25 BEAT | $-0.41 | $-0.34 | +17.66% | $3.3M | -6.52% |
| Q2 25 BEAT | $-0.47 | $-0.30 | +36.17% | $7.9M | +180.73% |
| Q1 25 BEAT | $-0.46 | $-0.41 | +10.87% | $3.7M | -13.55% |
| Q4 24 BEAT FY | $-0.54 | $-0.02 | +96.33% | $54.2M | +165.82% |
| FY Full Year | — | $-1.23 | — | $100.6M | — |