NASDAQ$ALKS

Alkermes plc · Q3 2021 earnings

Q3 2021 earnings · · Investor relations

Briefing

Alkermes reported strong Q3 2021 financial results with revenue growth and advancements in its commercial and development portfolios.

Alkermes plc reported third-quarter 2021 financial results, with total revenues of $294.1 million, an 11% increase year-over-year. The company reported a GAAP net loss of $29.0 million, or $0.18 per share, and non-GAAP net income of $23.6 million, or $0.14 per share. They reiterated their financial expectations for 2021.

  • Total revenues for the quarter were $294.1 million, compared to $265.0 million for the same period in the prior year.
  • Net sales of proprietary products for the quarter were $157.7 million, compared to $142.7 million for the same period in the prior year.
  • Net loss according to GAAP was $29.0 million for the quarter, or a basic and diluted GAAP loss per share of $0.18.
  • Non-GAAP net income was $23.6 million for the quarter, or a non-GAAP diluted earnings per share of $0.14.

Headline financials

Total Revenue

$294M

Previous: $265M+11.0%
EPS (adj)

$0.14

Previous: $0.26-46.2%
Capital Expenditures

-$19.4M

Previous: -$36.8M+47.4%
Free Cash Flow

-$48.3M

Previous: -$36.9M-31.0%
Net Income

-$29M

Previous: -$134K-21532.8%
Operating Income

-$19.7M

Previous: -$10.7M-84.3%
Gross Profit

$245M

Previous: $222M+10.2%
Cash & Equivalents

$310M

Previous: $241M+28.9%
Total Assets

$2B

Previous: $1.88B+6.3%
Stock-Based Comp

$25.6M

No prior period

Revenue & EPS history

Alkermes · Revenue · Quarterly

$294M

Q3 2021+11%vs Q3 2020
Beat estimate in 12 of 16 quarters(75%)
ActualEstimate

Revenue by segment

Alkermes · $158M total across 2 segments · Q3 2021

  • VIVITROL
    $88.8M+10.6%
  • ARISTADA
    $68.9M+10.4%

Forward guidance

Alkermes reiterates its financial expectations for 2021 set forth in its press release dated July 28, 2021. These financial expectations assume improvement in patient access to treatment providers and further normalization of the treatment system in the fourth quarter of 2021.

Headwinds

  • If patient access does not improve or the treatment system does not normalize as anticipated, the company’s ability to meet these expectations could be negatively impacted.
  • If new COVID-19-related disruptions emerge, the company’s ability to meet these expectations could be negatively impacted.

Historical earnings impact

How earnings announcements have historically affected this stock's price.

Avg. return before/after earnings

Based on 20 quarterly earnings reports · overlaid with Q3 2021

Historical avgQ3 2021

-0.6%

Avg return

Earnings day

-0.0%

Avg return

5 days after

-0.5%

Avg return

30 days after

45%

27 / 60 earnings

Positive

+16.6%

Q4 2017

Best reaction

-14.8%

Q1 2020

Worst reaction

Earnings price reactions
QuarterReport dateReaction (Day 0)+5 days+30 days
Q1 2026+6.2%+2.5%+27.0%
Q4 2025-6.6%-9.4%-12.0%
Q3 2025+3.9%+3.3%+0.0%
Q1 2025+6.3%+5.5%+6.4%
Q4 2024+4.8%+12.3%+6.5%
Q3 2024-6.3%-5.1%+3.3%
Q2 2024+12.2%+11.7%+11.8%
Q1 2024-2.8%-1.8%-4.6%
Q4 2023+15.0%+8.6%+2.7%
Q3 2023-2.4%-4.0%-3.7%
Q2 2023-1.8%-5.1%-11.9%
Q1 2023-7.1%-6.1%-3.9%
Q4 2022+4.0%+2.9%-3.6%
Q3 2022+3.8%+0.3%+12.2%
Q2 2022-9.7%-14.4%-16.5%
Q1 2022+9.8%+6.4%+12.5%
Q4 2021+8.8%+7.6%+12.1%
Q3 2021-8.2%-5.0%-28.7%
Q2 2021+5.9%+11.6%+28.9%
Q1 2021-3.2%-1.6%+0.8%
Q4 2020-11.8%-13.7%-15.3%
Q3 2020+5.6%+5.9%+20.2%
Q2 2020-8.8%-7.4%-19.0%
Q1 2020-14.8%-14.7%+1.6%
Q4 2019-7.0%-7.8%-15.5%
Q3 2019+5.7%+6.0%+13.9%
Q2 2019-10.2%+1.2%-12.3%
Q1 2019-12.2%-12.7%-31.1%
Q4 2018-1.2%+3.6%+3.3%
Q3 2018+3.0%+6.5%-11.6%
Q2 2018-0.1%-0.3%+2.0%
Q1 2018+1.5%+1.4%+3.9%
Q4 2017+16.6%+23.0%+12.0%
Q3 2017+0.7%-1.5%+3.2%
Q2 2017-4.1%-5.4%-12.4%
Q1 2017+2.0%+2.4%+1.0%
Q4 2016-2.9%-4.6%+3.7%
Q3 2016-1.4%+4.0%+8.4%
Q2 2016-3.6%-6.0%-14.1%
Q1 2016-2.0%
Q4 2015-1.4%
Q3 2015+7.6%
Q2 2015+2.4%
Q1 2015+3.1%
Q4 2014-3.4%
Q3 2014+7.7%
Q2 2014-7.2%
Q1 2014+3.2%
Q4 2013-7.7%
Q3 2013-3.7%
Q2 2013+3.5%
Q1 2013+3.9%
Q4 2010-1.0%
Q4 2012-9.9%
Q3 2012+2.2%
Q3 2011+2.2%
Q2 2011-7.7%
Q2 2012-7.7%
Q4 2011-7.7%
Q2 2010-3.0%

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