$AMPH

Amphastar Pharmaceuticals, Inc.

CIK:0001297184|SEC Filings

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025	Jun. 30, 2026	Jun. 30, 2025
Net Revenues:
Revenues	$ 183,903	$ 174,414	$ 355,074	$ 344,942
Cost of revenues	90,433	87,924	191,282	173,201
Gross profit	93,470	86,490	163,792	171,741
Operating expenses:
Selling, distribution, and marketing	13,335	10,235	25,262	22,101
General and administrative	18,242	13,991	36,270	29,987
Research and development	22,164	20,080	48,901	40,176
Total operating expenses	53,741	44,306	110,433	92,264
Income from operations	39,729	42,184	53,359	79,477
Non-operating income (expenses):
Interest income	2,287	1,921	4,687	4,010
Interest expense	(6,659)	(6,281)	(13,212)	(12,567)
Other income (expenses), net	3,187	1,511	3,762	(723)
Total non-operating income (expenses), net	(1,185)	(2,849)	(4,763)	(9,280)
Income before income taxes	38,544	39,335	48,596	70,197
Income tax provision	8,196	8,305	11,828	13,882
Net income	$ 30,348	$ 31,030	$ 36,768	$ 56,315
Net income per share:
Basic	$ 0.69	$ 0.66	$ 0.83	$ 1.19
Diluted	$ 0.67	$ 0.64	$ 0.81	$ 1.15
Weighted-average shares used to compute net income per share:
Basic (in shares)	43,644	46,949	44,483	47,295
Diluted (in Shares)	44,225	48,128	45,341	49,009

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025
Cash Flows From Operating Activities:
Net income	$ 36,768	$ 56,315
Reconciliation to net cash provided by operating activities:
Loss on disposal of assets	13	32
(Gain) loss on interest rate swaps and foreign currency transactions, net	(1,295)	1,736
Depreciation of property, plant, and equipment	16,120	15,716
Amortization of intangible assets	12,539	12,509
Operating lease right-of-use asset amortization	4,293	3,221
Amortization of discounts, premiums, and debt issuance costs	1,636	1,604
Share-based compensation expense	16,364	14,775
Changes in operating assets and liabilities:
Accounts receivable, net	(1,568)	4,192
Inventories	(3,631)	(35,932)
Prepaid expenses and other assets	(4,869)	(5,417)
Income tax refunds, deposits, and payable, net	14,847	(8,467)
Operating lease liabilities	(3,616)	(2,362)
Accounts payable and accrued liabilities	11,563	12,747
Net cash provided by operating activities	99,164	70,669
Cash Flows From Investing Activities:
Purchases and construction of property, plant, and equipment	(18,098)	(21,262)
Purchase of intangible assets		(2,250)
Purchase of investments	(31,790)	(15,619)
Maturity of investments	79,819	51,322
Deposits and other assets	(1,794)	(2,335)
Net cash provided by investing activities	28,137	9,856
Cash Flows From Financing Activities:
Proceeds from equity plans, net of withholding tax payments	1,517	494
Purchase of treasury stock	(74,705)	(50,220)
Debt issuance costs		(675)
Proceeds from borrowing under lines of credit		5,771
Repayments under lines of credit	(478)
Principal payments on long-term debt	(76)	(75)
Net cash used in financing activities	(73,742)	(44,705)
Effect of exchange rate changes on cash	(122)	260
Net increase in cash, cash equivalents, and restricted cash	53,437	36,080
Cash, cash equivalents, and restricted cash at beginning of period	170,412	151,844
Cash, cash equivalents, and restricted cash at end of period	223,849	187,924
Noncash Investing and Financing Activities:
Capital expenditures included in accounts payable	9,203	6,054
Operating lease right-of-use assets in exchange for operating lease liabilities	34,273	521
Supplemental Disclosures of Cash Flow Information:
Interest paid, net of capitalized interest	11,404	11,672
Income taxes paid (refunded)	$ (3,087)	$ 22,298

CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Jun. 30, 2026	Dec. 31, 2025
Current assets:
Cash and cash equivalents	$ 223,614	$ 170,177
Restricted cash	235	235
Short-term investments	66,509	112,635
Restricted short-term investments	2,200	2,200
Accounts receivable, net	144,857	143,560
Inventories	179,907	176,890
Income tax refunds and deposits	2,628	17,167
Prepaid expenses and other assets	11,001	13,152
Total current assets	630,951	636,016
Property, plant, and equipment	316,063	310,567
Finance lease right-of-use assets	152	221
Operating lease right-of-use assets	72,911	42,931
Goodwill and intangible assets, net	647,833	565,965
Other assets	33,392	31,135
Deferred tax assets	42,464	42,464
Total assets	1,743,766	1,629,299
Current liabilities:
Accounts payable and accrued liabilities	251,371	148,348
Income taxes payable	546	239
Current portion of long-term debt	2,488	1,641
Current portion of operating lease liabilities	8,800	7,928
Total current liabilities	263,205	158,156
Long-term reserve for income tax liabilities	5,926	5,926
Long-term debt, net of current portion and unamortized debt issuance costs	609,564	608,749
Long-term operating lease liabilities, net of current portion	67,470	37,684
Other long-term liabilities	29,444	29,979
Total liabilities	975,609	840,494
Stockholders' equity:
Preferred stock: par value $0.0001; 20,000,000 shares authorized; no shares issued and outstanding
Common stock: par value $0.0001; 300,000,000 shares authorized; 62,306,254 and 42,532,225 shares issued and outstanding, respectively, as of June 30, 2026 and 61,779,883 and 45,645,497 shares issued and outstanding, respectively, as of December 31, 2025	6	6
Additional paid-in capital	553,002	535,380
Retained earnings	703,649	666,881
Accumulated other comprehensive loss	(5,904)	(5,314)
Treasury stock	(482,596)	(408,148)
Total stockholders' equity	768,157	788,805
Total liabilities and stockholders' equity	$ 1,743,766	$ 1,629,299