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Investing.com -- Alvotech (NASDAQ:ALVO) saw its shares jump 6.6% after the biosimilar developer reported first quarter earnings and revenue that exceeded analyst expectations, driven by strong product launches and manufacturing efficiencies.
The company posted adjusted earnings per share of $0.35, beating the consensus estimate of $0.03 by $0.32. Revenue surged 786% YoY to $109.9 million, surpassing analyst projections of $103.7 million.
Alvotech’s product revenue skyrocketed to $109.9 million from $12.4 million in the same quarter last year, fueled by sales of its biosimilars AVT02 and AVT04 across multiple markets including the U.S. launch of SELARSDI, its Stelara biosimilar.
"Alvotech maintains its strong momentum, with positive cash flows from operating activities in the first quarter and healthy product margins, driven by new launches and increasing manufacturing efficiencies," said Robert Wessman, Chairman and CEO of Alvotech.
The company raised its full-year 2025 guidance, now expecting revenue between $600-$700 million and adjusted EBITDA of $200-$280 million. This increase follows Alvotech’s acquisition of rights to a proposed Cimzia biosimilar.
Alvotech reported an operating profit of $10.6 million for the quarter, compared to a $48.4 million loss in the prior year period. The company ended the quarter with $39.5 million in cash and cash equivalents.
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