$ALKS

Alkermes plc.

CIK:0001520262|SEC Filings

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE (LOSS) INCOME (unaudited) - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025	Jun. 30, 2026	Jun. 30, 2025
REVENUES:
Total revenues	$ 496,009	$ 390,657	$ 888,920	$ 697,167
EXPENSES:
Cost of goods manufactured and sold (exclusive of amortization of acquired intangible assets shown below)	98,112	49,460	159,690	98,657
Research and development	112,920	77,370	216,265	149,187
Selling, general and administrative	217,625	170,849	482,218	342,553
Change in fair value of contingent consideration	26,414	0	26,414	0
Amortization of acquired intangible assets	22,585	0	34,260	0
Total expenses	477,656	297,679	918,847	590,397
OPERATING (LOSS) INCOME	18,353	92,978	(29,927)	106,770
OTHER (EXPENSE) INCOME, NET:
Interest income	5,344	11,090	13,883	21,231
Interest expense	(25,925)	0	(46,817)	0
Other (expense) income, net	352	771	(941)	2,327
Total other (expense) income, net	(20,229)	11,861	(33,875)	23,558
(LOSS) INCOME BEFORE INCOME TAXES	(1,876)	104,839	(63,802)	130,328
INCOME TAX PROVISION (BENEFIT)	(2,377)	17,741	2,177	20,766
Net (loss) income	$ 501	$ 87,098	$ (65,979)	$ 109,562
(LOSS) EARNINGS PER ORDINARY SHARE:
(Loss) earnings per ordinary share- basic	$ 0	$ 0.53	$ (0.4)	$ 0.67
(Loss) earnings per ordinary share - diluted	$ 0	$ 0.52	$ (0.4)	$ 0.65
WEIGHTED AVERAGE NUMBER OF ORDINARY SHARES OUTSTANDING:
Basic	167,026	164,959	166,613	164,188
Diluted	173,478	168,357	166,613	168,470
COMPREHENSIVE (LOSS) INCOME:
Net Income (Loss)	$ 501	$ 87,098	$ (65,979)	$ 109,562
Holding (loss) gain, net of a tax (benefit) provision of $78, $16, $249 and $184, respectively	(255)	55	(823)	567
Foreign currency translation gain	240	0	0	0
COMPREHENSIVE (LOSS) INCOME	486	87,153	(66,802)	110,129
Product sales, net
REVENUES:
Total revenues	411,724	307,235	749,838	551,728
Manufacturing and royalty revenues
REVENUES:
Total revenues	$ 84,285	$ 83,422	$ 139,082	$ 145,439

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (unaudited) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025
CASH FLOWS FROM OPERATING ACTIVITIES:
Net (loss) income	$ (65,979)	$ 109,562
Adjustments to reconcile net income to cash flows from operating activities:
Depreciation and amortization	49,705	15,239
Amortization of inventory step-up	43,728	0
Share-based compensation expense	67,469	47,776
Change in fair value of contingent consideration	26,414	0
Deferred income taxes	317	(900)
Other non-cash charges	5,577	3,245
Changes in assets and liabilities:
Receivables	(72,062)	29,622
Contract assets	(6,751)	3,566
Inventory	1,014	(10,043)
Prepaid expenses and other assets	(20,960)	16,163
Right-of-use assets	4,355	3,713
Accounts payable and accrued expenses	(78,286)	56,109
Accrued sales discounts, allowances and reserves	23,550	(19,279)
Contract liabilities	0	(671)
Operating lease liabilities	(5,661)	(5,137)
Other long-term liabilities	7,010	48
Cash flows (used in) provided by operating activities	(20,560)	249,013
CASH FLOWS FROM INVESTING ACTIVITIES:
Additions of property, plant and equipment	(12,236)	(23,126)
Proceeds from the sale of property, plant and equipment	9	34
Proceeds from the sale of the Athlone facility	0	1,708
Business combination, net of cash acquired	(2,085,073)	0
Purchases of investments	(44,804)	(193,806)
Sales and maturities of investments	62,693	195,078
Cash flows used in investing activities	(2,079,411)	(20,112)
CASH FLOWS FROM FINANCING ACTIVITIES:
Proceeds from the issuance of ordinary shares under share-based compensation arrangements	42,006	31,611
Proceeds from the issuance of debt, net	1,511,557	0
Deferred financing costs paid to third-parties	(2,980)	0
Employee taxes paid related to net share settlement of equity awards	(24,538)	(30,459)
Payment for the repurchase of ordinary shares	(27,696)	0
Principal payments of long-term debt	(6,625)	0
Cash flows provided by financing activities	1,491,724	1,152
NET (DECREASE) INCREASE IN CASH AND CASH EQUIVALENTS	(608,247)	230,053
CASH, CASH EQUIVALENTS AND RESTRICTED CASH-Beginning of period	1,119,776	291,146
CASH, CASH EQUIVALENTS AND RESTRICTED CASH-End of period	511,529	521,199
SUPPLEMENTAL CASH FLOW DISCLOSURE:
Cash paid for taxes	13,926	1,591
Non-cash investing and financing activities:
Purchased capital expenditures included in accounts payable and accrued expenses	4,260	7,562
Unpaid contingent consideration	$ 107,713	$ 0

CONDENSED CONSOLIDATED BALANCE SHEETS (unaudited) - USD ($) $ in Thousands	Jun. 30, 2026	Dec. 31, 2025
CURRENT ASSETS:
Cash and cash equivalents	$ 511,529	$ 388,570
Restricted cash	0	731,206
Investments—short-term	145,048	199,645
Receivables, net	456,477	334,025
Inventory	298,957	196,625
Prepaid expenses and other current assets	110,895	79,090
Total current assets	1,522,906	1,929,161
PROPERTY, PLANT AND EQUIPMENT, NET	218,284	221,722
INVESTMENTS—LONG-TERM	35,054	145
RIGHT-OF-USE ASSETS	76,111	77,209
INTANGIBLE ASSETS, NET	1,761,456	815
GOODWILL	594,273	83,027
DEFERRED TAX ASSETS	123,041	125,815
OTHER ASSETS	62,000	49,099
TOTAL ASSETS	4,393,125	2,486,993
CURRENT LIABILITIES:
Accounts payable and accrued expenses	332,469	289,565
Accrued sales discounts, allowances and reserves	295,645	247,126
Operating lease liabilities—short-term	7,477	6,746
Current portion of long-term debt	26,500	0
Total current liabilities	662,091	543,437
OPERATING LEASE LIABILITIES—LONG-TERM	61,976	63,253
CONTINGENT CONSIDERATION	136,304	0
LONG-TERM DEBT	1,476,611	0
DEFERRED TAX LIABILITIES	179,575	0
OTHER LONG-TERM LIABILITIES	68,018	61,008
Total liabilities	2,584,575	667,698
COMMITMENTS AND CONTINGENT LIABILITIES (Note 18)
SHAREHOLDERS’ EQUITY:
Preferred shares, par value, $0.01 per share: 50,000,000 shares authorized; and zero issued and outstanding at June 30, 2026 and December 31, 2025, respectively.
Ordinary shares, par value, $0.01 per share; 450,000,000 shares authorized; 184,700,718 and 181,011,166 shares issued; and 167,541,198 and 165,607,028 shares outstanding at June 30, 2026 and December 31, 2025, respectively	1,847	1,810
Treasury shares, at cost (17,159,520 and 15,404,138 shares at June 30, 2026 and December 31, 2025, respectively)	(502,521)	(450,287)
Additional paid-in capital	3,112,920	3,004,666
Accumulated other comprehensive loss	(2,923)	(2,100)
Accumulated deficit	(800,773)	(734,794)
Total shareholders’ equity	1,808,550	1,819,295
TOTAL LIABILITIES AND SHAREHOLDERS’ EQUITY	$ 4,393,125	$ 2,486,993