Sarepta Therapeutics(SRPT) - 2025 Q1 - Earnings Call Presentation

Financial Performance & Guidance - Sarepta revised its FY 2025 total product revenue guidance to $23 billion - $26 billion[13] - Q1 2025 total revenues reached $745 million, an 80% increase compared to $413 million in Q1 2024[49] - Q1 2025 total product revenue was $612 million, a 70% increase from $359 million in Q1 2024[18, 49] - The company reported a GAAP operating loss of $300 million in Q1 2025, compared to an income of $35 million in Q1 2024[44, 49] - Non-GAAP operating loss for Q1 2025 was $250 million, compared to an income of $84 million in Q1 2024[44, 49] ELEVIDYS Performance - ELEVIDYS sales grew 180% year-over-year, but fell short of expectations[13] - Over 800 patients have been treated with ELEVIDYS in commercial settings and clinical studies[13, 25] R&D and Pipeline - The company is on track for BLA submission for SRP-9003 for LGMD2E/R4 in the second half of 2025[13] - Enrollment and dosing are completed in Study SRP-9004-102 for LGMD2D/R3[13] Arrowhead Collaboration - The company closed a global licensing and collaboration agreement with ARWR for multiple targets[12] - Q1 2025 GAAP and Non-GAAP R&D expenses include Arrowhead collaboration transaction costs of $584 million[49]