Tue, May 6, 8:23 PM (5 days ago)
**Supernus Pharmaceuticals, Inc. (SUPN) Q1 2025 Financial Summary** **Financial Health and Performance:** - **Revenue:** $149.8 million, up 4% from $143.6 million in Q1 2024. Key drivers include increased sales of Qelbree and GOCOVRI, offset by declines in Oxtellar XR and Trokendi XR due to generic competition. - **Net Loss:** $11.8 million, compared to a net income of $124,000 in Q1 2024. The loss was driven by higher operating expenses and contingent consideration losses. - **Gross Margin:** Approximately 89%, consistent with the previous year. - **Operating Margin:** Negative, reflecting higher operating expenses. - **Cash Flow:** Positive operating cash flow of $30.6 million, down from $38.4 million in Q1 2024. Investing activities provided $37.3 million, while financing activities used $21.4 million. **Profit Margins:** - **Gross Profit Margin:** Approximately 89%, stable year-over-year. - **Operating Profit Margin:** Negative, indicating higher operating costs relative to revenue. **Cash Flow:** - **Operating Cash Flow:** $30.6 million, down from $38.4 million in Q1 2024. - **Investing Cash Flow:** Positive at $37.3 million, driven by maturities of marketable securities. - **Financing Cash Flow:** Negative at $21.4 million, primarily due to the payment of contingent consideration milestone. **Earnings Changes:** - **Earnings per Share (EPS):** Basic and diluted EPS were both $(0.21), compared to $0.00 in Q1 2024. **Quarterly Performance Discussion:** - **Revenue Growth:** Driven by Qelbree and GOCOVRI, with Qelbree reaching an all-time high in monthly prescriptions. - **Operating Expenses:** Increased due to higher clinical program costs and product sample shipments. - **Contingent Consideration:** A $7.7 million loss due to the accretion of USWM contingent consideration liabilities following the FDA approval of ONAPGO. **Trends and Uncertainties:** - **Product Pipeline:** Positive trends in Qelbree and GOCOVRI, with ongoing clinical trials for SPN-817 and SPN-820. - **Generic Competition:** Continued impact on Trokendi XR and Oxtellar XR. - **Legal and Regulatory:** Ongoing litigation and regulatory uncertainties, including patent disputes and FDA approvals. **Future Operations Impact:** - **ONAPGO Launch:** Successful launch in April 2025, with encouraging initial physician response. - **Research and Development:** Continued investment in novel CNS product candidates. - **Financial Flexibility:** Strong cash position and access to debt markets to support future operations and potential acquisitions.