Financial Data and Key Metrics Changes - The company reported a 30% year-on-year increase in revenues for the first half of 2025, reaching $306 million compared to $236 million in the same period last year [23] - Product revenues grew over 200% in the first half of the year, with a 77% year-on-year increase in Q2 2025 [9][23] - Adjusted EBITDA for the first half was $54 million, down from $64 million in the same period last year, with Q2 adjusted EBITDA at $18 million compared to $102 million in Q2 last year [26] Business Line Data and Key Metrics Changes - The biosimilar to Humira, marketed as Simlanti in the US, achieved over 40% market share in the US Humira market as of July, with expectations to reach 50% by year-end [11][12] - The biosimilar to Stellara, marketed as Selarsty in the US, reached over 20% market share in the US as of July, with strong performance in Europe [14][52] Market Data and Key Metrics Changes - The company has gained marketing approvals in 67 markets globally, with biosimilars to Humira being sold in 33 markets [13] - The company continues to expand its market presence, particularly in Europe, where it has seen significant growth in biosimilar penetration [49] Company Strategy and Development Direction - The company plans to ramp up R&D efforts significantly, expanding its pipeline with new partnerships and acquisitions [17][19] - The focus is on product margin rather than volume, with a strategy to maintain sustainable pricing in competitive markets [15] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the strong momentum going into the second half of the year, despite expected softness in Q3 revenues [36] - The company anticipates a stronger Q4, driven by new product launches and milestone revenues [36][62] Other Important Information - The company completed the acquisition of IVS Lee in Switzerland, enhancing its capabilities in assembly and packaging [19][28] - The listing on NASDAQ Stockholm has broadened the shareholder base and increased trading liquidity [20] Q&A Session Summary Question: Confidence in top line guidance going forward - Management indicated strong momentum in Q2 and the first half, but expects Q3 to be softer with a stronger Q4 anticipated [34][36] Question: Growth potential for Simlanti in the US - Management confirmed a valid contract with Qualant, but noted that the focus is on value rather than volume, expecting challenges in the second half [37] Question: FDA inspections and approval timelines - Management stated that they will keep the market informed about FDA inspection outcomes and remain confident in targeting approval dates [39][60] Question: Guidance on revenue and EBITDA for the year - Management reiterated that guidance remains intact, with expectations for a strong Q4 to offset any softness in Q3 [46][62] Question: Market share expectations for Humira and Stellara - Management expects continued growth in market share for both products, particularly in Europe and the US [48][52]

Financial Data and Key Metrics Changes - The company reported a 30% year-on-year increase in revenues for the first half of 2025, reaching $306 million compared to $236 million in the same period last year [20] - Product revenues grew over 200% in the first half of the year, with Q2 2025 product revenues increasing by 77% year-on-year [6][20] - Adjusted EBITDA for the first half was $54 million, down from $64 million in the prior year, with Q2 adjusted EBITDA at $18 million compared to $102 million in Q2 last year [23] Business Line Data and Key Metrics Changes - The biosimilar to Humira, marketed as Simlanti in the U.S. and Hukyndra in Europe, has gained over 40% market share in the U.S. Humira market as of July, with expectations to reach 50% by year-end [9][10] - The biosimilar to Stellara, marketed as Selarsty in the U.S. and OOSH Provo in Europe, has achieved over 20% market share in the U.S. as of July, with strong performance in Europe [12][50] Market Data and Key Metrics Changes - The company has gained marketing approvals in 67 markets globally and is selling its Humira biosimilar in 33 markets [10] - In Europe, the company continues to see significant market share growth, particularly in France, where biosimilar penetration is still low [46] Company Strategy and Development Direction - The company plans to ramp up R&D efforts significantly, expanding its pipeline and has completed acquisitions to enhance its capabilities [14][25] - The focus remains on product margin rather than volume, with a strategy to drive sustainable growth through operational efficiencies and new product launches [12][26] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the strong momentum observed in Q2 and the first half of the year, despite anticipating a softer Q3 due to the timing of milestone revenues [33][34] - The company remains committed to maintaining its guidance and expects Q4 to be the strongest quarter of the year [44][61] Other Important Information - The company completed the acquisition of IVS Lee in Switzerland, enhancing its control over the value chain [16][25] - The listing on NASDAQ Stockholm has broadened the shareholder base and increased trading liquidity [17] Q&A Session Summary Question: Confidence in top line guidance going forward - Management noted strong momentum in Q2 and the first half, but expects product revenues and milestone revenues to soften in Q3, with a stronger Q4 anticipated [32][34] Question: Growth potential for Cymlandi in the U.S. - Management confirmed a valid contract with Qualant but indicated that the focus is on value rather than volume, expecting challenges in the second half [36] Question: FDA inspections and potential delays - Management acknowledged the routine nature of FDA inspections and committed to keeping the market informed about product approvals [38] Question: Guidance on revenue and EBITDA - Management reiterated that the guidance remains intact, with expectations for a strong Q4 to offset any softness in Q3 [44][61] Question: Market share expectations for Humira and Stellara - Management indicated a strong position in both markets, with expectations for continued growth in market share [46][50]

Financial Performance - Product revenue increased by 211% from $66 million in H1 2024 to $205 million in H1 2025[18] - Total revenue increased by 30% from $236 million in H1 2024 to $306 million in H1 2025[18] - Licensing revenue decreased by 40% from $170 million in H1 2024 to $101 million in H1 2025[18] - Gross profit decreased by 2% from $171 million in H1 2024 to $168 million in H1 2025[18] - EBITDA decreased by 16% from $64 million in H1 2024 to $54 million in H1 2025[18] - Strong cash flow from operations of $77 million, an improvement of $161 million year-on-year[22] - Cash and cash equivalents of $151 million as of June 30, 2025[22] - Total borrowings of $1,118 million as of June 30, 2025[22] Market and Product Updates - Biosimilar to Humira® has the 2nd largest market share for Humira® biosimilars in the U S[13] - Biosimilar to Stelara® continues to outperform in Europe with first or second largest share in each market where product has been launched[13] Strategic Partnerships and Acquisitions - Expanded partnership with Advanz to include four new biosimilars from early-stage pipeline[13] - Partnered with Dr Reddy's to jointly develop biosimilar candidate to Keytruda®[13] - Completed acquisition of Ivers-Lee in July, increasing capabilities and flexibility in assembly and packaging[13]

Core Viewpoint - Alvotech reported quarterly earnings of $0.14 per share, significantly beating the Zacks Consensus Estimate of a loss of $0.26 per share, marking an earnings surprise of +153.85% [1] Financial Performance - The company posted revenues of $173.34 million for the quarter ended June 2025, exceeding the Zacks Consensus Estimate by 50.56%, although this represents a decline from year-ago revenues of $198.75 million [2] - Over the last four quarters, Alvotech has surpassed consensus EPS estimates three times and topped consensus revenue estimates four times [2] Stock Performance - Alvotech shares have declined approximately 34.6% since the beginning of the year, contrasting with the S&P 500's gain of 9.6% [3] Future Outlook - The company's earnings outlook will be crucial for determining the stock's immediate price movement, with current consensus EPS estimates at -$0.22 for the coming quarter and $0.18 for the current fiscal year [4][7] - The estimate revisions trend for Alvotech was favorable ahead of the earnings release, resulting in a Zacks Rank 1 (Strong Buy) for the stock, indicating expected outperformance in the near future [6] Industry Context - The Medical - Biomedical and Genetics industry, to which Alvotech belongs, is currently ranked in the bottom 41% of over 250 Zacks industries, which may impact stock performance [8]

Alvotech _____________________ Unaudited Condensed Consolidated Interim Financial Statements as of 30 June 2025 and for the six months ended 30 June 2025 and 2024 Table of Contents These Unaudited Condensed Consolidated Interim Financial Statements for the six-month period ended 30 June 2025 have not been audited by an external auditor. Financial results for the six months ended 30 June 2025. As of 30 June 2025, the Company had $151.5 million in cash and cash equivalents. In addition, the Company had borrow ...

Strong performance driven by over 200% growth in product revenues year-on-year Best quarter in Alvotech’s history in terms of operating cash flows Continued expansion of commercial partnerships for pipeline assets Alvotech listed on Nasdaq Stockholm Market Conference call and live webcast on Thursday August 14, 2025, 8:00 am ET (12:00pm GMT) REYKJAVIK, Iceland, Aug. 13, 2025 (GLOBE NEWSWIRE) -- Alvotech (NASDAQ: ALVO, or the “Company”), a global biotech company specializing in the development and manufactur ...

Core Insights - Alvotech reported a significant increase in product revenues, with over 200% growth year-on-year, marking the best quarter in terms of operating cash flows in the company's history [2][8] - The company has expanded its commercial partnerships and made strategic acquisitions to enhance its biosimilar pipeline, including the acquisition of Xbrane's R&D facilities and Ivers-Lee Group [2][4] - Alvotech's financial results for the first half of 2025 show a net profit of $141.7 million, a substantial recovery from a net loss of $153.5 million in the same period of 2024 [23][10] Financial Performance - Product revenue reached $204.7 million for the first six months of 2025, compared to $65.9 million in the same period of 2024, driven by the sales expansion of AVT02 and AVT04 [11] - License and other revenue decreased to $101.3 million from $169.7 million year-on-year, primarily due to the timing of milestone achievements [12] - Operating profit was $28.6 million, down from $43.4 million in the prior year, reflecting the timing of milestone-related revenue [16] Cost Structure - Cost of product revenue increased to $139.3 million from $65.2 million, attributed to higher sales volumes [13] - Research and development expenses slightly decreased to $92.9 million from $97.5 million, reflecting the transition of several programs out of the clinical phase [14] - General and administrative expenses rose to $45.3 million from $29.6 million, driven by increased third-party service costs [15] Cash Flow and Liquidity - As of June 30, 2025, Alvotech had cash and cash equivalents of $151.5 million, significantly improved from $51.4 million at the end of 2024 [10] - The company generated net cash from operating activities of $68.3 million, a turnaround from a cash outflow of $126 million in the previous year [46] Strategic Partnerships and Acquisitions - Alvotech entered into commercial agreements with Advanz Pharma for four biosimilar candidates and a collaboration with Dr. Reddy's Laboratories for AVT32 [3] - The acquisition of Xbrane's R&D organization and Ivers-Lee Group is expected to enhance Alvotech's development capabilities and operational efficiency [4][9] Market Position and Future Outlook - Alvotech aims to be a leader in the biosimilar market, with a pipeline that includes nine disclosed biosimilar candidates targeting various diseases [38] - The company plans to continue its strategic investments in commercialization and regulatory advancements to support long-term growth [16][2]

Core Viewpoint - Alvotech (ALVO) shares have increased by 2.9% recently, closing at $8.65, with a potential upside indicated by Wall Street analysts' price targets suggesting a mean estimate of $17.5, representing a 102.3% upside [1][2]. Price Targets and Analyst Estimates - The mean estimate consists of four short-term price targets with a standard deviation of $7, where the lowest estimate is $14.00 (61.9% increase) and the highest is $28.00 (223.7% increase) [2]. - A low standard deviation indicates a strong agreement among analysts regarding the price targets, suggesting a more reliable consensus [2][9]. Earnings Estimates and Analyst Sentiment - Analysts show strong agreement in revising earnings estimates higher, which correlates with potential stock price increases [4][11]. - Over the last 30 days, the Zacks Consensus Estimate for the current year has risen by 6.3%, with one estimate increasing and no negative revisions [12]. Zacks Rank and Investment Potential - ALVO holds a Zacks Rank 1 (Strong Buy), placing it in the top 5% of over 4,000 ranked stocks based on earnings estimates [13]. - While consensus price targets may not be entirely reliable, the direction they imply appears to be a good guide for potential price movement [14].

Core Insights - Alvotech, a global biotech company specializing in biosimilar medicines, will release its financial results for the first half of 2025 on August 13, 2025, after U.S. market close [1] - A conference call to discuss the financial results and business highlights will take place on August 14, 2025, at 8:00 am EDT [1] Company Overview - Alvotech focuses on developing and manufacturing biosimilar medicines, aiming to be a global leader in the biosimilar market by providing high-quality, cost-effective products [3] - The company has two approved biosimilars, Humira® (adalimumab) and Stelara® (ustekinumab), marketed in multiple global markets [3] - Alvotech's development pipeline includes nine disclosed biosimilar candidates targeting various conditions such as autoimmune disorders, eye disorders, osteoporosis, respiratory diseases, and cancer [3] - The company has established strategic commercial partnerships across the U.S., Europe, Japan, China, and other regions, enhancing its global reach [3]

Core Viewpoint - Alvotech (ALVO) is set to announce its Q2 2025 earnings results, with expectations of a loss per share of 26 cents and total revenues of $115.4 million [1][5]. Group 1: Revenue Segments - Alvotech recognizes revenues from two segments: Product revenue and License and other revenue [2]. - Product revenue comes from the sale of two approved biosimilars, Simlandi and Selarsdi, which are biosimilars to AbbVie's Humira and JNJ's Stelara, respectively [3]. Group 2: Market Performance - Investors are particularly interested in the sales figures for Simlandi and Selarsdi, which were launched in the U.S. in 2024 and Q1 2025, respectively, but have yet to gain significant market traction [4]. - Year-to-date, ALVO's shares have decreased by 26.5%, contrasting with the industry's growth of 0.6% [4]. Group 3: Pipeline Developments - Alvotech's pipeline includes AVT05, AVT06, and AVT03, with multiple regulatory filings currently under review in the U.S. and EU [5]. - AVT05 is being developed as a proposed biosimilar to JNJ's Simponi, with regulatory decisions expected by the end of the year [7]. - AVT06 is a proposed biosimilar to Bayer and Regeneron's Eylea, with decisions anticipated by the end of 2025 [8]. - AVT03 is a biosimilar candidate to Amgen's Prolia and Xgeva, with the FDA accepting a regulatory filing for review in March 2025 [9]. Group 4: Partnership Expansions - Alvotech and Dr. Reddy's Laboratories have expanded their partnership to co-develop a biosimilar candidate to Merck's Keytruda [10]. Group 5: Earnings Surprise History - Alvotech has a strong earnings surprise history, having beaten estimates in the last three quarters with an average surprise of 244.18% [11]. - In the last reported quarter, the company achieved an earnings surprise of 305.88% [12]. Group 6: Earnings Predictions - Alvotech currently has an Earnings ESP of 0.00%, indicating no predictive advantage for an earnings beat this time [14].