Puma Biotechnology Inc · Q1 2023 earnings

Briefing

Puma Biotechnology reported positive net income and increased total revenue compared to the same quarter last year.

Puma Biotechnology reported a net income of $1.4 million for Q1 2023, a significant improvement from the net loss of $3.4 million in Q1 2022. Total revenue increased to $52.8 million, driven by growth in both net product revenue and royalty revenue.

• Puma Biotechnology reported net income of $1.4 million, or $0.03 per basic and diluted share.
• Non-GAAP adjusted net income was $4.2 million, or $0.09 per basic and diluted share.
• Total revenue increased to $52.8 million, with product revenue of $46.8 million and royalty revenue of $6.0 million.
• The company had cash, cash equivalents and marketable securities of $71.2 million as of March 31, 2023.

Headline financials

Revenue & EPS history

Puma Biotechnology anticipates net product revenue between $47 million and $50 million and royalty revenue between $2 million and $3 million for the second quarter of 2023. The company expects net income to be between $0 million and $1.5 million for the second quarter of 2023. For the full year 2023, the company anticipates net product revenue between $205 million and $210 million and royalty revenue between $25 million and $30 million. The company expects net income to be between $20 million and $24 million for the full year 2023.