Financial Data and Key Metrics Changes - Consolidated net revenue for Q2 2025 was $378 million, a decrease of 4.1% year over year [23] - Adjusted net income for Q2 was $110.6 million, a decrease of 12.8% [27] - GAAP fully diluted earnings per share for Q2 were $1.12, with adjusted EPS at $1.57, both down 12.8% [27] Business Line Data and Key Metrics Changes - Sales of Polarify were $251 million during the quarter, down 8.3% year over year [14] - U.S. volumes for Polarify were up 2% year over year and more than 4% sequentially, both lower than expectations [14] - Precision Diagnostics revenue was $115.8 million, up 3.3%, with DEFINITY sales at $83.9 million, up 7.5% [24] Market Data and Key Metrics Changes - The PSMA PET market faced competitive pricing pressures, particularly from an F-eighteen competitor, leading to account losses [15] - The broader market for PSMA PET is expected to grow in the mid to high teens, while Polarify is anticipated to grow in the low single digits [44] Company Strategy and Development Direction - The company is focused on diversifying its portfolio and enhancing capabilities across the radiopharmaceutical value chain [10] - A new $400 million stock repurchase program was authorized, reflecting confidence in the business's intrinsic value and future growth potential [12] - The FDA has accepted the NDA for a new formulation of Polarify, expected to increase batch size by approximately 50% [8] Management's Comments on Operating Environment and Future Outlook - Management acknowledged that Q2 results were below expectations and lowered the financial outlook for the remainder of 2025 [5] - There are signs of stabilization in the PSMA PET marketplace, which is encouraging for future growth [41] - The company is committed to maintaining Polarify's market leadership despite competitive pressures [17] Other Important Information - The company completed the acquisition of Evergreen and Life Molecular, which are expected to contribute to growth and diversify revenue [10] - The strategic partnerships have been effective in maintaining and growing volumes, particularly in contracted accounts [16] Q&A Session Summary Question: Thoughts on achieving double-digit growth in 2026 - Management believes it is achievable through a combination of organic and inorganic growth, with key factors including the performance of DEFINITY and the impact of recent acquisitions [34][35] Question: Guidance for LMI's contribution to revenue - Forecasting a contribution of $40 million to $45 million in revenue from LMI for the latter half of 2025, with a low single-digit dilution expected [42] Question: Timing for the new formulation of Polarify - The new formulation is expected to be commercialized potentially by mid-2026, with a focus on securing coding coverage and payment [52] Question: Impact of new formulation on long-term contracts - The new formulation will be an add-on to existing contracts, potentially allowing for a 340B price reset [55] Question: Commercial opportunity for tau imaging - The tau imaging market is expected to grow, with the potential for significant demand as it becomes integrated into Alzheimer's treatment protocols [58] Question: Share of contracted versus non-contracted business - The vast majority of the business is under contract, with strategic partnerships designed to level the playing field against competitive pricing pressures [66]

Financial Data and Key Metrics Changes - Consolidated net revenue for Q2 2025 was $378 million, a decrease of 4.1% year over year [20] - Adjusted net income for Q2 was $110.6 million, a decrease of 12.8% [24] - GAAP fully diluted earnings per share for Q2 were $1.12, with adjusted earnings per share at $1.57, both down 12.8% [24] Business Line Data and Key Metrics Changes - Sales of Polarify were $251 million, down 8.3% year over year, with U.S. volumes up 2% year over year and over 4% sequentially [12][21] - Precision Diagnostics revenue was $115.8 million, up 3.3%, with DEFINITY sales at $83.9 million, up 7.5% [21] - Strategic partnerships and other revenue increased by 32.8% to $11.6 million, driven by contributions from MK6240 and the newly acquired Evergreen CDMO business [22] Market Data and Key Metrics Changes - The PSMA PET market faced competitive pricing pressures, particularly from an F-eighteen competitor, leading to account losses and renegotiations [13][14] - The broader market for PSMA PET is expected to grow in the mid to high teens, while Polarify is anticipated to grow in the low single digits [39] Company Strategy and Development Direction - The company is focused on diversifying its portfolio and enhancing its capabilities in the radiopharmaceutical value chain through acquisitions [9] - A new $400 million stock repurchase program was authorized, reflecting confidence in the business's intrinsic value and future growth potential [11] - The FDA has accepted the NDA for a new formulation of Polarify, expected to increase batch size by approximately 50%, enhancing production efficiency and patient access [6][17] Management's Comments on Operating Environment and Future Outlook - Management acknowledged that Q2 results were below expectations and lowered the financial outlook for the remainder of 2025 [4] - The company is taking a disciplined approach to pricing to preserve the long-term value of its PSMA PET franchise [7][16] - Management expressed confidence in the long-term strategy and the ability to execute, despite current market dynamics [11][28] Other Important Information - The company expects full-year revenue to be in the range of $1.475 to $1.51 billion, down from the previous range of $1.55 to $1.585 billion [27] - The anticipated launch of four additional radiopharmaceutical products is expected to diversify revenue streams [10] Q&A Session Summary Question: Thoughts on achieving double-digit growth in 2026 - Management believes it is achievable through a combination of organic and inorganic growth, with key factors including the performance of DEFINITY and the impact of recent acquisitions [30][31] Question: Guidance for LMI's contribution to revenue - The forecast for LMI's contribution is $40 million to $45 million in net revenue with an EPS accretion of $0.04 [37] Question: Impact of new formulation on long-term contracts - The new formulation will be an add-on to existing contracts, potentially allowing for a 340B price reset [49] Question: Commercial opportunity for tau imaging - The company sees significant potential in the tau imaging market, which could be similar in size to Polarify [52] Question: Market share and contracted business for Polarify - The majority of the business is under contract, and management has made strategic decisions to walk away from certain accounts to protect long-term value [56][61]

Lantheus Second Quarter 2025 Results August 6, 2025 © 2025 Lantheus. All rights reserved. 1 Agenda Highlights and Business Update Operational and Strategic Update Financial Update Q&A SPEAKERS Brian Markison CEO Bob Marshall CFO and Treasurer © 2025 Lantheus. All rights reserved. 2 Paul Blanchfield President Closing Remarks Mark Kinarney Vice President, Investor Relations Safe Harbor Statements Cautionary Statement Regarding Forward-Looking Statements This document contains forward-looking statements within ...

NASDAQ: LNTH Lantheus Investor Presentation Building on our Foundation to Power the Future of Radiopharmaceuticals May 2025 © 2025 Lantheus. All rights reserved. Safe Harbor Statements Cautionary Statement Regarding Forward-Looking Statements This document contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, as amended, that are subject to risks and uncertainties and are made pursuant to the safe harbor provisions of Section 27A of the Securities Ac ...

Commercial Portfolio Performance - PYLARIFY achieved blockbuster status in 2024 with over $1 billion in sales[154], and Q1 2025 net sales reached $257.7 million[13] - DEFINITY remains the 1 utilized ultrasound enhancing agent, with Q1 2025 net sales of $79.2 million, a 3.5% year-over-year growth[24] Market Opportunities - The U S PSMA PET imaging market has a potential of over $3.5 billion by 2030, driven by expansion of radiotherapeutics and increasing clinical utility in BCR population[19, 20] - The U S ultrasound enhancing agent total addressable market is over $600 million[35] Pipeline Development - Lantheus is advancing an innovative pipeline of radiopharmaceuticals, including diagnostic and therapeutic candidates for prostate cancer, neuroendocrine tumors, and Alzheimer's disease[38, 40] - LNTH-2402, a GRPR-targeted radiotherapeutic, is expected to have an IND filing in Q4 2025, with Phase 1 initiation planned for 2026[109] Financial Highlights - As of March 31, 2025, Lantheus had $938.5 million in cash on hand and $98.8 million in free cash flow in Q1 2025[10] - The updated interim corporate financial guidance for the full year 2025 projects revenue between $1.550 billion and $1.585 billion, and adjusted fully diluted EPS between $6.60 and $6.70[142] Strategic Transactions - The acquisition of Evergreen Theragnostics closed in April 2025, strengthening radiodiagnostic and therapeutic capabilities[10, 165] - The acquisition of Life Molecular Imaging is expected to close by 2Q 2025, expanding the commercial portfolio and pipeline in Alzheimer's disease[10, 144]

Financial Data and Key Metrics Changes - Consolidated net revenue for Q1 2025 was $372.8 million, an increase of 0.8% year-over-year [23] - GAAP net income for Q1 was $72.9 million, with adjusted net income at $109.5 million, a decrease of 7.5% [27] - Gross profit margin for Q1 was 67%, a decrease of 180 basis points due to various factors including strategic partnership contracting initiatives [24] Business Line Data and Key Metrics Changes - Radiopharmaceutical oncology, primarily from Polarify, contributed $257.7 million in sales, flat compared to the prior year [23] - Precision Diagnostic revenue was $104.4 million, also flat year-over-year, with DEFINITY sales at $79.2 million, up 3.5% [24] - Strategic partnerships and other revenue increased by 65.1% to $10.7 million, driven by contributions from investigational asset MK6240 [24] Market Data and Key Metrics Changes - The U.S. Alzheimer's disease radio diagnostics total addressable market is projected to grow to over $1.5 billion by the end of the decade and $2.5 billion by the mid-2030s [10] - The PSMA PET addressable market is anticipated to exceed $3.5 billion by 2025, driven by rising disease incidence and broader adoption of targeted therapies [15] Company Strategy and Development Direction - The company plans to divest its SPECT business to Shine Technologies, focusing on PET radio diagnostics and radiotherapeutics [5][11] - Recent acquisitions of Evergreen Theranostics and Life Molecular Imaging are aimed at enhancing radiopharmaceutical leadership and diversifying revenue streams [5][6] - The company is committed to advancing its position in the radiopharmaceutical sector through both organic growth and strategic acquisitions [33] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in maintaining market leadership despite competitive pressures, particularly in the Polarify segment [40] - The divestiture of the SPECT business is expected to unlock future revenue growth and gross margin expansion [31] - The company anticipates low single-digit dilution from the combined addition of Evergreen and LMI, with adjusted EPS projected in the range of $6.60 to $6.70 [31] Other Important Information - The company is actively monitoring tariff activities and their potential impact on operations, though current effects are minimal [28] - The effective tax rate for the quarter was 26.5% [27] Q&A Session Summary Question: Insights on Polarify trends and competitive dynamics - Management noted successful revenue stabilization through strategic partnerships, despite experiencing short-term competitive disruption among smaller non-contracted sites [39][40] Question: Rationale for exiting the SPECT business - The SPECT business was deemed non-core to future growth, allowing the company to streamline operations and focus on higher growth areas [43][44] Question: Fiscal 2025 guidance drivers - Guidance was tightened primarily due to Polarify's performance, with expectations for healthy dose volumes throughout the year [49] Question: Long-term opportunity for GRPR targeting in prostate cancer - Management highlighted the potential for GRPR imaging and therapy, noting its relevance in various stages of prostate cancer treatment [82][84] Question: Impact of MUC-based pricing on revenue - MUC-based pricing currently affects about 20% of patients, with management expecting stabilization as customers adapt to new reimbursement structures [90]

Financial Data and Key Metrics Changes - Consolidated net revenue for Q1 2025 was $372.8 million, an increase of 0.8% year-over-year [24] - GAAP net income for Q1 was $72.9 million, with adjusted net income at $109.5 million, a decrease of 7.5% [29] - Gross profit margin for Q1 was 67%, a decrease of 180 basis points compared to the previous year [25] - Operating profit for the quarter was $144.3 million, a decrease of 7.1% [27] Business Line Data and Key Metrics Changes - Radiopharmaceutical oncology, primarily from Polarify, contributed $257.7 million in sales, flat year-over-year [24] - Precision Diagnostic revenue was $104.4 million, also flat year-over-year, with DEFINITY sales at $79.2 million, up 3.5% [25] - Strategic partnerships and other revenue increased by 65.1% to $10.7 million, driven by investigational asset MK6240 [25] Market Data and Key Metrics Changes - The U.S. Alzheimer's disease radio diagnostics total addressable market is projected to grow to over $1.5 billion by the end of the decade and $2.5 billion by the mid-2030s [11] - The PSMA PET addressable market is anticipated to exceed $3.5 billion by 2026, driven by rising disease incidence and broader adoption [15] Company Strategy and Development Direction - The company plans to divest its SPECT business to Shine Technologies to focus on PET radio diagnostics and radiotherapeutics [5][12] - Recent acquisitions of Evergreen Theranostics and Life Molecular Imaging are aimed at enhancing radiopharmaceutical leadership and long-term growth [5][6] - The company is committed to advancing its position in nuclear medicine through both organic growth and strategic acquisitions [35] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in maintaining market leadership despite competitive pressures and pricing dynamics [41] - The divestiture of the SPECT business is expected to unlock future revenue growth and gross margin expansion [46] - The company anticipates low single-digit dilution from the combined addition of Evergreen and LMI, with an updated revenue guidance of $1.55 to $1.585 billion for 2025 [32][34] Other Important Information - The company is actively monitoring tariff activities and their potential impact on operations, though current effects are minimal [30] - R&D expenses are expected to be approximately 7.5% of revenue, reflecting increased investments in growth initiatives [33] Q&A Session Summary Question: Can you elaborate on Polarify trends and competitive dynamics? - Management noted successful revenue stabilization through strategic partnerships, despite experiencing short-term competitive disruption among smaller non-contracted sites [40][41] Question: What is the rationale for exiting the SPECT business now? - The SPECT business is viewed as non-core to future growth, allowing the company to streamline operations and focus on higher growth areas [45][46] Question: How does the divestiture of the SPECT business free up resources? - The divestiture allows for a sharper organizational focus on PET radio diagnostics and radiotherapeutics, enhancing growth potential [55] Question: What is the expected impact of MUC-based pricing on revenue? - MUC-based pricing currently affects about 20% of patients, with management expecting stabilization as sites adapt to new reimbursement structures [93][95] Question: How does the company view the long-term opportunity for GRPR targeting in prostate cancer? - There is potential for GRPR imaging and therapy to play a significant role in various stages of prostate cancer treatment, with ongoing development efforts [86][88]

Financial Performance - Lantheus reported first quarter 2025 revenues of $3728 million, a 08% increase compared to $369975 million in the first quarter of 2024[62, 78] - Adjusted EPS for the first quarter of 2025 was $153, a 95% decrease compared to $169 in the first quarter of 2024[17, 79] - The company's net income for 1Q 2025 was $72945 million, a 443% decrease compared to $131066 million for 1Q 2024[78] Strategic Initiatives - Lantheus is integrating Evergreen Theragnostics Inc and planning to acquire Life Molecular Imaging Ltd to strengthen radiodiagnostic and therapeutic capabilities[17, 24] - The company is divesting its SPECT business to SHINE Technologies, LLC, with the transaction expected to close by the end of 2025[17, 24] - Lantheus has a strong cash position with $9385 million in cash on hand and $750 million available in revolving credit[17, 66] Product Performance and Market Outlook - PYLARIFY net sales were $2577 million in 1Q 2025, representing a 05% decrease compared to 1Q 2024[37, 62] - DEFINITY net sales were $792 million in 1Q 2025, a 35% increase year-over-year[47, 62] - The PSMA PET market may exceed $35 billion by the end of the decade, with an annual scan potential of approximately 750,000[40, 41]

Core Insights - Lantheus Holdings, Inc. reported a slight increase in worldwide revenue for Q1 2025, totaling $372.8 million, compared to $370.0 million in Q1 2024, reflecting a 0.8% growth [3][5] - The company experienced a significant decline in GAAP net income, which fell to $72.9 million from $131.1 million year-over-year, representing a 44.3% decrease [3][5] - Adjusted net income also decreased by 7.5% to $109.5 million, with adjusted fully diluted earnings per share dropping to $1.53 from $1.69, a 9.5% decline [3][5] Financial Performance - GAAP fully diluted earnings per share for Q1 2025 were $1.02, down from $1.87 in Q1 2024, marking a 45.5% decrease [3][5] - Free cash flow for the first quarter was reported at $98.8 million [5] - Operating income decreased by 4.3% to $102.1 million, while adjusted operating income fell by 7.1% to $144.3 million [6][27] Business Development - The company completed the acquisition of Evergreen Theragnostics and is in the process of acquiring Life Molecular Imaging, which is expected to close soon [2][10] - Lantheus announced a planned divestiture of its SPECT business to focus on PET radiodiagnostics and microbubbles [10] - Positive data from two pivotal studies of MK-6240 were reported, with plans to file a New Drug Application (NDA) in Q3 2025 [10] Revenue Breakdown - Sales of PYLARIFY were $257.7 million, a slight decrease of 0.5% from the previous year [6][24] - DEFINITY sales increased by 3.5% to $79.2 million [6][24] - Total revenues from strategic partnerships and other sources rose significantly by 65.1% to $10.7 million [24] Guidance and Outlook - The company provided updated guidance for FY 2025, projecting revenue between $1.550 billion and $1.585 billion, and adjusted fully diluted EPS between $6.60 and $6.70 [11]