Lantheus Holdings Inc
Q2 2025 Earnings
Market Reaction
S&P 500 over the same 30 days: +2.54%.
Did LNTH Beat Earnings? Q2 2025 Results
Lantheus delivered a disappointing second quarter, missing on both the top and bottom lines as competitive pressure on its flagship imaging agent weighed heavily on results. The radiopharmaceutical company posted adjusted diluted EPS of $1.57, falling 6.29% short of the $1.68 consensus estimate, while revenue slipped 4.1% year-over-year to $378.05 million against expectations of $387.94 million. The primary culprit was PYLARIFY, the company's PSMA PET imaging agent, where an 8.3% sales decline to $250.64 million reflected an increasingly crowded competitive landscape. Lantheus spent much of the quarter reshaping its portfolio through acquisitions, closing its purchase of Evergreen Theragnostics and subsequently acquiring Life Molecular Imaging to broaden its pipeline into Alzheimer's diagnostics and neuroendocrine tumors. Those moves came at a cost to the outlook; full-year 2025 revenue guidance was cut to $1.48 billion to $1.51 billion and adjusted EPS guidance to $5.50 to $5.70, well below prior targets, sending shares to a 52-week low in the aftermath.
- PYLARIFY sales declined 8.3% due to increased competition in the PSMA PET landscape
- DEFINITY sales grew 7.5% year-over-year
- Strategic partnerships and other revenue increased 32.8%
- GAAP net income benefited from unrealized gains on equity securities versus losses in prior year
- Acquisition, integration and divestiture-related costs of $22.9 million impacted GAAP results
“In the second quarter and the month thereafter, we completed the acquisitions of both Evergreen Theragnostics and Life Molecular Imaging – key steps in executing our strategy to expand capabilities across the radiopharmaceutical value chain, diversify revenue, including with Neuraceq, and drive future growth. At the same time, we navigated increased competition in the PSMA PET landscape, which impacted PYLARIFY performance. We are taking actions to reinforce PYLARIFY's clinical differentiation and support the value of our PSMA PET franchise.”
Lantheus CEO, on the earnings call
Forward Guidance & Outlook
Lantheus updated its full-year 2025 guidance, lowering expectations to reflect the Life Molecular Imaging acquisition and current business outlook. FY 2025 revenue is now expected in the range of $1.475 billion to $1.51 billion, down from prior guidance of $1.550 billion to $1.585 billion. FY 2025 adjusted fully diluted EPS is now expected at $5.50 to $5.70, down from prior guidance of $6.60 to $6.70. The company is navigating increased PSMA PET competition impacting PYLARIFY and is taking actions to reinforce clinical differentiation. A new PSMA PET formulation NDA has a PDUFA date of March 6, 2026, and the MK-6240 tau imaging agent NDA submission is planned for Q3 2025.
LNTH YoY Financials
LNTH Revenue by Segment
Figures from SEC filings and company reports. Not investment advice.