Mon, May 5, 8:49 PM (13 days ago)
**Summary of Axsome Therapeutics, Inc. (AXSM) Q1 2025 Financial Performance** **Revenue and Profit Margins:** - **Total Revenue:** $121.5 million, up from $75.0 million in Q1 2024. - **Product Sales:** $120.4 million, with Auvelity contributing $96.2 million and Sunosi $24.1 million. - **Royalty Revenue:** $1.1 million, up from $0.9 million in Q1 2024. - **Gross Margin:** Approximately 92.2%, indicating strong cost control. - **Operating Margin:** -47.1%, reflecting high R&D and SG&A expenses. **Cash Flow:** - **Net Cash Used in Operating Activities:** $43.4 million, an improvement from $53.5 million in Q1 2024. - **Net Cash Used in Investing Activities:** $0.3 million, slightly higher than $0.1 million in Q1 2024. - **Net Cash Provided by Financing Activities:** $29.3 million, a significant increase from a use of $1.2 million in Q1 2024. **Earnings Changes:** - **Net Loss:** $59.4 million, an improvement from $68.4 million in Q1 2024. - **Loss per Share:** $1.22, improved from $1.44 in Q1 2024. **Quarterly Performance Discussion:** - **Revenue Growth:** Driven by increased sales of Auvelity and Sunosi. - **Operating Expenses:** High R&D spend from ongoing clinical trials and increased SG&A due to commercial activities. - **Cash Flow:** Improved operating cash flow but offset by increased financing activities. **Trends and Uncertainties:** - **Revenue Trends:** Likely to fluctuate based on demand and product launches. - **Operating Expenses:** Expected to increase with ongoing R&D and commercialization efforts. - **Cash Flow:** Positive trends in operating cash flow but dependent on financing activities. **Future Operations Impact:** - **Revenue Growth:** Dependent on successful product launches and market acceptance. - **Operating Expenses:** Likely to increase with further R&D and commercialization. - **Cash Flow:** Positive outlook but subject to financing needs and market conditions.