Mon, May 12, 10:18 AM (37 days ago)
**Mallinckrodt plc (MNK) Q1 2025 Financial Summary** **Financial Health & Performance:** - **Revenue:** $419.9 million, down 10.2% YoY due to Therakos divestiture and competitive pressures. - **Gross Profit:** $202.9 million, up 23.7% YoY, driven by reduced inventory step-up expenses. - **Operating Income:** $15.0 million, compared to a loss of $17.7 million in Q1 2024. - **Net Loss:** $27.7 million, improved from $65.4 million in Q1 2024. - **Cash Flow:** Positive operating cash flow of $66.3 million, driven by working capital improvements. **Segment Performance:** - **Specialty Brands:** Revenue down 19.4% YoY to $207.3 million, with Acthar Gel sales up 12.3% and INOmax down 11.0%. - **Specialty Generics:** Revenue up 1.0% YoY to $212.6 million, with finished-dosage generics up and APAP down due to competition. **Key Metrics:** - **Gross Margin:** 48.3%, up from 35.1% in Q1 2024. - **SG&A Expenses:** $147.5 million, up 7.7% YoY. - **R&D Expenses:** $20.5 million, down 26.5% YoY. - **Interest Expense:** $27.0 million, down from $52.3 million in Q1 2024. **Trends & Uncertainties:** - Positive trends include Acthar Gel growth and improved gross margins. - Uncertainties include competitive pressures, regulatory changes, and the outcome of the proposed Endo business combination. **Future Operations Impact:** - The proposed business combination with Endo may result in increased debt and transaction costs. - The company is exploring divestitures and financing options to reduce debt and enhance liquidity. **Ticker:** MNK