Assertio (US:ASRT)2025-11-10 21:13Financial Performance - Assertio reported third quarter 2025 net product sales of $49.5 million, up from $28.7 million in the prior-year quarter, representing a 72% increase[9]. - Rolvedon net product sales reached $38.6 million for Q3 2025, significantly up from $15.0 million in the same quarter last year, reflecting a 157% increase[6]. - Total revenues for Q3 2025 reached $49,459,000, a 69% increase from $28,705,000 in Q3 2024[20]. - Product sales contributed $49,459,000 to total revenues, compared to $28,705,000 in the same quarter last year, indicating a significant growth[20]. - Net income for Q3 2025 was $11,445,000, compared to a net loss of $2,921,000 in Q3 2024[20]. - Basic net income per share for Q3 2025 was $0.12, while diluted net income per share was $0.11[20]. - Adjusted EBITDA for Q3 2025 was $20.9 million, compared to $4.4 million in the prior-year quarter, marking a 373% increase[9]. - Adjusted earnings (Non-GAAP) for the three months ended September 30, 2025, were $18.987 million, or $0.18 per share, compared to $1.764 million, or $0.02 per share, for the same period in 2024[30]. Sales and Revenue Guidance - Assertio narrowed its FY2025 net product sales guidance to a range of $110 million to $112 million, and adjusted EBITDA guidance to $14 million to $16 million[3]. Expenses and Costs - SG&A expenses were $16.9 million for Q3 2025, slightly up from $16.7 million in the prior-year quarter, reflecting non-recurring costs related to the decommercialization of Otrexup[6]. - Research and development expenses for the nine months ended September 30, 2025, were $1,204,000, down from $2,536,000 in the same period last year[20]. - The company reported restructuring costs of $289,000 for the nine months ended September 30, 2025, compared to $720,000 for the same period in 2024[33]. - The company reported stock-based compensation expenses of $3.357 million for the nine months ended September 30, 2025, compared to $3.911 million for the same period in 2024[33]. - The company incurred $5.060 million in expenses related to the decommercialization of Otrexup for the nine months ended September 30, 2025[33]. Assets and Liabilities - Cash, cash equivalents, and short-term investments totaled $93.4 million as of September 30, 2025, down from $98.2 million as of June 30, 2025[6]. - Total current assets increased to $263,573,000 as of September 30, 2025, up from $202,549,000 at the end of 2024[22]. - Cash and cash equivalents decreased to $38,500,000 from $50,588,000 at the end of 2024[22]. - Total liabilities rose to $213,972,000 as of September 30, 2025, compared to $163,651,000 at the end of 2024[22]. Management and Strategic Focus - Paul Schwichtenberg was promoted to President and COO, indicating a strategic focus on enhancing commercial strategies for future growth[8]. Other Financial Metrics - Adjusted EBITDA for the nine months ended September 30, 2025, was $26,815,000, compared to $14,852,000 in the same period of 2024[25]. - The company reported a net cash provided by operating activities of $1,786,000 for the nine months ended September 30, 2025, down from $14,860,000 in the prior year[24]. - For the nine months ended September 30, 2025, the company experienced a net loss of $18.448 million, with a diluted EPS of $(0.19), compared to a net loss of $11.105 million and a diluted EPS of $(0.12) for the same period in 2024[33]. - Legal settlements, net of insurance proceeds, contributed $3.543 million to adjusted earnings for the nine months ended September 30, 2025, compared to a negative impact of $2.816 million in 2024[33]. - Amortization of intangible assets for the nine months ended September 30, 2025, was $24.059 million, up from $18.973 million in the same period in 2024[33]. - The company recognized a loss of $8.2 million from the divestiture of the Assertio Therapeutics subsidiary, which included approximately $1.0 million in one-time costs[28].