Companies /Healthcare

Alkermes plc

NASDAQ: ALKS Drug Manufacturers - Specialty & Generic
$46.10
▼ $0.78 (−1.66%) today
Markets closed · 7:39pm ET

Q1 2025 Earnings

Reported May 1, 2025, 7:05am ET · SEC source
$0.13
Miss −46.90%
EPS · est. $0.24
$306.5M
Beat +0.79%
Revenue · est. $304.1M
−4.5%
Trailing market
ALKS vs S&P since report
3 quarters
Consecutive EPS misses

Market Reaction

% change · around the report
0+4%+8%+12%May 1May 2report 7:05am ETearnings+1.0%+11.4%
0+4%+8%+12%May 1May 2earnings+1.0%+11.4%
ALKS +11.4%S&P 500 +1.0%
0+4%+8%+12%May 1May 2report 7:05am ETearnings+1.2%+11.4%
0+4%+8%+12%May 1May 2earnings+1.2%+11.4%
ALKS +11.4%NASDAQ +1.2%
0+5%+10%Apr 30May 9report 7:05am ETearnings+0.6%+9.6%
0+5%+10%Apr 30May 9earnings+0.6%+9.6%
ALKS +9.6%S&P 500 +0.6%
0+5%+10%Apr 30May 9report 7:05am ETearnings+0.9%+9.6%
0+5%+10%Apr 30May 9earnings+0.9%+9.6%
ALKS +9.6%NASDAQ +0.9%
+6.29%
Day of report
+3.92%
Next session
−0.65%
One week
+2.26%
30 days

S&P 500 over the same 30 days: +6.74%.

Did ALKS Beat Earnings? Q1 2025 Results

Alkermes delivered a mixed first quarter for 2025, posting an earnings miss alongside a modest revenue beat as the expiration of a key royalty agreement continued to weigh heavily on the bottom line. The company reported revenue of $306.51 million, edging past the $304.11 million consensus by 0.79%, though that figure still represented a 12.5% decline year-over-year as the loss of royalties on INVEGA SUSTENNA slashed manufacturing and royalty revenues nearly in half. Earnings per share of $0.13 fell well short of the $0.24 consensus estimate, a miss of 46.90%, with GAAP net income sliding to $22.46 million from $38.95 million a year ago. Bright spots included LYBALVI, which delivered 23% revenue growth and 22% prescription growth, helping lift proprietary product net sales to $244.49 million. Management reaffirmed full-year guidance of $1.34 billion to $1.43 billion in total revenues and GAAP net income of $175 million to $205 million, while investors watch closely for topline results from the ALKS 2680 narcolepsy study expected early in the third quarter.

Key Takeaways
  • LYBALVI revenue grew 23% and total prescriptions grew 22% year-over-year
  • Proprietary product net sales increased to $244.5M from $233.5M year-over-year
  • Manufacturing and royalty revenue declined due to expiration of INVEGA SUSTENNA royalty in August 2024
  • SG&A expenses decreased to $171.7M from $179.7M year-over-year

“Our first quarter financial performance provides a solid foundation to deliver on our financial guidance for the year. We are in a strong position in this dynamic macroeconomic environment and remain focused on executing on the strategic objectives that we believe will drive the future value of the company.”

Alkermes CEO, on the earnings call

Forward Guidance & Outlook

Alkermes reiterated its full-year 2025 financial expectations: total revenues of $1,340M–$1,430M, COGS of $185M–$205M, R&D expense of $305M–$335M, SG&A expense of $655M–$685M, GAAP net income of $175M–$205M, EBITDA of $215M–$245M, Adjusted EBITDA of $310M–$340M, and an effective tax rate of approximately 17%. Expected proprietary product net sales: VIVITROL $440M–$460M, ARISTADA $335M–$355M, LYBALVI $320M–$340M. Topline results from the Vibrance-1 phase 2 study of ALKS 2680 in narcolepsy type 1 are expected early in Q3 2025, with Vibrance-2 data expected in the fall.

ALKS YoY Financials

Q1 2025 vs Q1 2024 · SEC filings Q1 2024 Q1 2025
$0$100.0M$200.0M$300.0M$350.4M$306.5MRevenue$43.3M$13.8MOperating Income$36.8M$22.5MNet Income
$0$100.0M$200.0M$300.0MRevenueOperating IncomeNet Income

ALKS Revenue by Segment

VIVITROL$101.0M
ARISTADA$73.5M
LYBALVI$70.0M+23.0%
LUMRYZ
Manufacturing & Royalty Revenues$62.0M
Partnered Long-Acting Antipsychotics
VUMERITY Manufacturing and Royalties
VUMERITY

Figures from SEC filings and company reports. Not investment advice.