2025 Third Quarter Financial Results Our Mission: Protect and Save Lives October 29, 2025 1 Safe Harbor Statement/Trademarks This presentation includes forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, as amended. All statements, other than statements of historical fact, including statements regarding the future performance of the Company or any of our businesses, our business strategy, future operations, future financial position, future revenues and ear ...

Financial Performance - Q2 2025 revenues reached $141 million, exceeding the high end of guidance by $21 million[14] - Adjusted EBITDA guidance is raised to $175 - $200 million for 2025[14] - Net leverage decreased significantly from 99x in Q2 2024 to 19x in Q2 2025[14] - Cash position improved to $267 million, with liquidity at $367 million, a $297 million increase year-over-year[14] - 11 million shares were repurchased in Q2 2025 for $69 million[16] Business Segments - International MCM sales accounted for 48% of total MCM revenue year-to-date[16,54] - NARCAN demand rebounded by 50% in Q2 2025 compared to Q1 2025[16,57] Future Outlook - Full year 2025 revenue is projected to be in the range of $765 - $835 million[14] - The company is pursuing organic and inorganic growth initiatives to create shareholder value[15,67] - The company plans to invest to enable sustainable, long-term growth[62]

Financial Performance - Q1 2025 - Q1 2025 revenues reached $222 million, aligning with the midpoint of guidance[20] - Adjusted EBITDA for Q1 2025 was $78 million, representing 35% of total revenues, a 1300 bps increase compared to Q1 2024[35] - Adjusted Gross Margin improved to 58% in Q1 2025, a 700 bps increase from 51% in Q1 2024[36] - Net leverage significantly improved to 28x Adjusted EBITDA, a 50% reduction from 57x year-over-year[20] Liquidity and Debt Reduction - Cash position improved to $149 million, up by $49 million compared to the end of 2024[20] - Gross debt was reduced from $909 million to $700 million[44] - Net debt decreased by 23%, a reduction of $209 million[44] Guidance and Outlook - The company reaffirmed its 2025 revenue guidance of $750 million to $850 million and Adjusted EBITDA guidance of $150 million to $200 million[20, 51] - The company anticipates R&D expenses to be approximately 6% to 7% of revenue and SG&A expenses to be around 27% to 28% of revenue for 2025[51] Business Segments - International MCM revenue was $91 million, accounting for approximately 60% of total MCM sales in Q1[22] - The company secured a 3-year agreement for $65 million with Ontario's Ministry of Health for NARCAN® Nasal Spray[62]