Indivior PLC(US:INDV)2025-10-30 11:00Financial Performance - Q3'25 total net revenue was $314 million, a 2% increase year-over-year; SUBLOCADE® net revenue reached $219 million, up 15% year-over-year[1] - U.S. SUBLOCADE net revenue increased 14% to $203 million compared to Q3'24, driven by 8% volume growth[10] - Adjusted EBITDA for Q3 increased 14% to $120 million, reflecting improved operating leverage[10] - Non-GAAP net income for Q3 was $93 million, with non-GAAP diluted EPS of $0.72, compared to $65 million and $0.49 in Q3'24[10] - The revised FY 2025 guidance for total net revenue is now $1.18 billion to $1.22 billion, up from the previous guidance of $1.03 billion to $1.08 billion[7] - Net revenue for Q3 2025 was $314 million, a slight increase from $307 million in Q3 2024, while year-to-date revenue decreased from $889 million in 2024 to $881 million in 2025[21] - Gross profit for Q3 2025 was $230 million, down from $241 million in Q3 2024, with a year-to-date gross profit of $702 million compared to $707 million in the previous year[21] - Operating income for Q3 2025 was $43 million, an increase from $35 million in Q3 2024, while year-to-date operating income rose significantly from a loss of $8 million in 2024 to $181 million in 2025[21] - Net income for Q3 2025 was $42 million, compared to $22 million in Q3 2024, with year-to-date net income improving from a loss of $14 million in 2024 to $108 million in 2025[21] - Non-GAAP gross profit for Q3 2025 was $263 million, compared to $251 million in Q3 2024, indicating a positive trend in profitability[30] - GAAP net income for Q3 2025 was $42 million, compared to $22 million in Q3 2024, representing a 90.9% increase[39] - Non-GAAP net income for the nine months ended September 30, 2025, was $213 million, up from $203 million in the same period of 2024, reflecting a 4.9% increase[39] - Non-GAAP diluted earnings per share for Q3 2025 was $0.72, compared to $0.49 in Q3 2024, indicating a 46.9% increase[39] - Adjusted EBITDA for Q3 2025 was $120 million, compared to $105 million in Q3 2024, showing a 14.3% increase[44] Cost Management and Savings - The company expects annual operating expense savings of at least $150 million starting in 2026 due to organizational simplification[3] - Research and development expenses increased to $33 million in Q3 2025 from $22 million in Q3 2024, remaining consistent year-to-date at $76 million[21] - Interest expense for the nine months ended September 30, 2025, was $39 million, up from $28 million in the same period of 2024, reflecting a 39.3% increase[44] - Corporate initiative transition costs for Q3 2025 amounted to $35 million, with an additional $41 million for the nine months ended September 30, 2025[44] - Legal costs for Q3 2025 were $36 million, with total legal provisions reaching $196 million for the nine months ended September 30, 2025[44] - The company discontinued OPVEE sales and marketing, incurring costs of $30 million in Q3 2025[44] - Adjustments in research and development expenses for Q3 2025 were $13 million, with no adjustments reported in Q3 2024[39] Strategic Initiatives - The company plans to optimize its Rest of World (ROW) business by exiting several non-U.S. markets, which represent 77% of forecasted ROW net revenue[5] - The company has launched a national direct-to-consumer campaign to support SUBLOCADE growth in the U.S.[5] - Indivior plans to change its domicile from the U.K. to the U.S. and establish a new U.S. parent company[5] Balance Sheet and Assets - Total assets as of September 30, 2025, were $1,416 million, up from $1,316 million at the end of 2024[23] - Cash and cash equivalents increased to $445 million as of September 30, 2025, compared to $319 million at the end of 2024[23] - Total liabilities decreased slightly to $1,623 million as of September 30, 2025, from $1,652 million at the end of 2024[23] Revenue Breakdown - The company reported a total of $267 million in U.S. revenue for Q3 2025, up from $261 million in Q3 2024, with SUBLOCADE contributing $203 million in Q3 2025[29]