Second Quarter 2025 Financial Results & Business Update July 29, 2025 Forward-Looking Statements and Non-GAAP Financial Information Certain statements set forth in this presentation constitute "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995, as amended, including, but not limited to, statements concerning: Alkermes plc's (the "Company") expectations with respect to its current and future financial, commercial and operating performance, business plans o ...

Core Insights - Alkermes plc reported strong financial performance in Q2 2025, with significant growth in proprietary product sales and robust profitability [2][6][3] - The company announced positive topline results from the Vibrance-1 study of alixorexton for narcolepsy type 1, marking a key milestone in its development program [2][6] Financial Performance - Total revenues for Q2 2025 were $390.7 million, a decrease from $399.1 million in Q2 2024 [3] - Proprietary net sales increased to $307.2 million in Q2 2025, up from $269.3 million in Q2 2024, representing a growth of 14% [3][7] - Key product sales included VIVITROL® at $121.7 million (up 9% YoY), ARISTADA® at $101.3 million (up 18% YoY), and LYBALVI® at $84.3 million (up 18% YoY) [3][7] Profitability Metrics - GAAP net income for Q2 2025 was $87.1 million, compared to $91.4 million in Q2 2024 [4] - Adjusted EBITDA for Q2 2025 was $126.5 million, down from $135.3 million in Q2 2024 [4][26] - The company maintained a GAAP earnings per share of $0.52 for Q2 2025, slightly down from $0.53 in Q2 2024 [24] Research and Development - R&D expenses for continuing operations were $77.4 million in Q2 2025, an increase from $59.6 million in Q2 2024, reflecting the company's commitment to advancing its pipeline [9] - The company is preparing to initiate a global phase 3 program for alixorexton and will present detailed results from the Vibrance-1 study at the World Sleep Congress [2][6] Balance Sheet Highlights - As of June 30, 2025, Alkermes had cash, cash equivalents, and total investments of $1.05 billion, an increase from $916.2 million at the end of Q1 2025 [10][27] - Total assets reached $2.25 billion, up from $2.06 billion at the end of 2024 [27] Future Outlook - Alkermes reiterated its financial expectations for 2025, indicating confidence in its ongoing operations and product pipeline [11]

Financial Performance - Q1 2025 - Total revenue decreased to $306.5 million from $350.4 million in Q1 2024 [7] - GAAP net income decreased to $22.5 million from $36.8 million in Q1 2024 [7] - GAAP earnings per share (diluted) decreased to $0.13 from $0.21 in Q1 2024 [7] - Adjusted EBITDA decreased to $45.6 million from $81.8 million in Q1 2024 [10] - The decrease in revenue and profitability reflects the expiration of royalty on U S net sales of INVEGA SUSTENNA® in August 2024 [8, 11] Revenue Breakdown - Q1 2025 - Total proprietary net sales increased to $244.5 million from $233.5 million in Q1 2024 [12] - VIVITROL® net sales were $101.0 million, compared to $97.7 million in Q1 2024 [12] - ARISTADA® net sales were $73.5 million, compared to $78.9 million in Q1 2024 [12] - LYBALVI® net sales were $70.0 million, reflecting a 23% growth compared to $57.0 million in Q1 2024 [12, 21] Financial Expectations - 2025 - Total revenues are expected to range from $1,340 million to $1,430 million [13] - GAAP net income is projected to be between $175 million and $205 million [13] - Adjusted EBITDA is projected to be between $310 million and $340 million [13] - VIVITROL® net sales are expected to range from $440 million to $460 million [17] - ARISTADA® net sales are expected to range from $335 million to $355 million [17] - LYBALVI® net sales are expected to range from $320 million to $340 million [17]

Core Insights - Alkermes plc reported a total revenue of $306.5 million for Q1 2025, a decrease from $350.4 million in Q1 2024, indicating a year-over-year decline of approximately 12.5% [3][9] - The company achieved a GAAP net income of $22.5 million for Q1 2025, down from $36.8 million in Q1 2024, reflecting a decrease of about 38.8% [4][9] - Alkermes reiterated its financial expectations for 2025, maintaining confidence in its strategic objectives and market position [2][13] Financial Performance - Total proprietary net sales for Q1 2025 were $244.5 million, compared to $233.5 million in Q1 2024, representing an increase of approximately 4.3% [3][23] - Key product revenues included VIVITROL® at $101.0 million, ARISTADA® at $73.5 million, and LYBALVI® at $70.0 million, with LYBALVI® showing a significant growth of 23% year-over-year [3][10][6] - The company reported an adjusted EBITDA of $45.6 million for Q1 2025, down from $81.8 million in Q1 2024, indicating a decline of about 44.3% [4][24] Research and Development - Alkermes completed enrollment in the Vibrance-1 phase 2 study for ALKS 2680, an oral orexin 2 receptor agonist for narcolepsy type 1, with topline results expected in early Q3 2025 [2] - The company is also progressing with the Vibrance-2 and Vibrance-3 phase 2 studies, targeting narcolepsy type 2 and idiopathic hypersomnia, respectively [2] Balance Sheet - As of March 31, 2025, Alkermes reported cash, cash equivalents, and total investments of $916.2 million, an increase from $824.8 million at the end of 2024 [12][25] - Total assets stood at $2.08 billion, with total shareholders' equity of $1.51 billion, reflecting a solid financial position [25]