ANI Pharmaceuticals Reports Record Fourth Quarter and Full-Year 2024 Financial Results and Raises 2025 Guidance

Core Insights - ANI Pharmaceuticals reported strong financial results for Q4 and full year 2024, exceeding previous guidance in total net revenues, adjusted non-GAAP EBITDA, and adjusted non-GAAP diluted EPS [2][9][12] - The company raised its 2025 guidance for total net revenues and adjusted non-GAAP EBITDA, reflecting confidence in continued growth, particularly in its Rare Disease and Generics segments [2][21] Financial Performance - Total net revenues for Q4 2024 reached $190.6 million, a 44.8% increase year-over-year, with organic growth of 23.8% excluding the Alimera acquisition [12][9] - Rare Disease segment revenues increased 108.5% to $87.0 million, driven by Cortrophin Gel sales of $59.4 million, up 42.3% year-over-year [13][11] - Generics revenues grew 9.4% to $78.6 million, supported by strong R&D capabilities and five new product launches in the quarter [8][14] Segment Highlights - Cortrophin Gel continues to show strong growth, with increasing demand across multiple specialties and a significant number of new patient starts [3][4] - The acquisition of Alimera Sciences contributed $27.6 million in revenues from ILUVIEN and YUTIQ in their first full quarter of ownership [5][13] - Brand revenues increased 58.9% to $19.8 million, driven by sustained demand for certain products [7][11] Guidance and Future Outlook - For 2025, the company expects total net revenues between $756 million and $776 million, with adjusted non-GAAP EBITDA projected at $190 million to $200 million [21][22] - Cortrophin Gel net revenues are anticipated to be between $265 million and $274 million, reflecting year-over-year growth of 33.8% to 38.3% [21][9] - The company plans to expand the market for ILUVIEN by seeking FDA approval for additional indications [6][5] Operational Metrics - Adjusted non-GAAP EBITDA for Q4 2024 was $50.0 million, a 65.7% increase from the previous year [19][9] - The company reported a diluted GAAP loss per share of $(0.55) but an adjusted non-GAAP diluted EPS of $1.63, up from $1.00 in the prior year [18][9] - As of December 31, 2024, ANI had $144.9 million in unrestricted cash and cash equivalents, with total assets of $1.28 billion [20][49]