Thu, Aug 29, 12:50 PM (138 days ago)
For the quarter ended June 30, 2024, Endo, Inc. reported total revenues of $284,163, a significant decline from $546,852 in the same period last year, primarily due to competitive pressures in its Generic Pharmaceuticals segment and the absence of a prior year settlement with Novavax. The cost of revenues increased to $333,695, leading to a gross margin loss of $49,532. Selling, general, and administrative expenses were reduced to $95,992 from $137,729, reflecting lower employee separation costs. The company incurred a net loss from continuing operations of $148,776, with a notable increase in interest expense to $44,669 attributed to new Exit Financing. Cash flow from operations was positive at $71,839, contrasting sharply with a cash outflow of $744,641 in the preceding predecessor period due to substantial payments related to the bankruptcy plan. Endo's liquidity remains stable, with cash and cash equivalents at $293,536, down from $777,919 at year-end 2023. The company’s working capital decreased to $971,055, influenced by bankruptcy-related cash outflows. Future operations may be impacted by ongoing competitive pressures and legal contingencies, particularly in opioid litigation.