$LNTH

Lantheus Holdings, Inc.

CIK:0001521036|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
Income Statement [Abstract]
Revenues	$ 388,180	$ 378,045	$ 765,513	$ 750,809
Cost of goods sold	146,325	137,034	292,736	272,098
Gross profit	241,855	241,011	472,777	478,711
Operating expenses
Sales and marketing	82,805	41,041	135,489	83,544
General and administrative	20,633	66,515	78,166	123,331
Research and development	38,202	45,489	77,581	81,803
Total operating expenses	141,640	153,045	291,236	288,678
Operating income	100,215	87,966	181,541	190,033
Interest expense	4,915	4,917	9,779	9,721
Investment in equity securities - unrealized loss (gain)	9,536	(14,573)	(5,369)	289
Gain on sale of business, net of transaction costs	(199)	0	(59,527)	0
Other income, net	(7,862)	(6,895)	(13,572)	(21,023)
Income before income taxes	93,825	104,517	250,230	201,046
Income tax expense	18,796	25,762	56,784	49,346
Net income	$ 75,029	$ 78,755	$ 193,446	$ 151,700
Net income per common share:
Basic (in dollars per share)	$ 1.15	$ 1.15	$ 2.98	$ 2.21
Diluted (in dollars per share)	$ 1.11	$ 1.12	$ 2.91	$ 2.14
Weighted average common shares outstanding:
Basic (in shares)	65,160	68,516	64,949	68,591
Diluted (in shares)	67,518	70,312	66,379	70,896

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	$ 193,446	$ 151,700
Adjustments to reconcile net income to net cash flows from operating activities:
Depreciation, amortization and accretion	45,265	26,857
Adjustment to the fair value of asset retirement obligation	0	(4,727)
Amortization of debt-related costs	2,230	2,230
Change in fair value of contingent liabilities	(31,755)	0
Inventory adjustments	1,991	936
Stock-based compensation	36,048	43,519
Unrealized (gain) loss on investment in equity securities	(5,369)	289
Charges incurred pursuant to acquired in-process research and development	0	5,413
Deferred taxes	6,256	(5,577)
Long-term income tax payable and other long-term liabilities	687	(3)
Gain on sale of business, net of transaction costs	(59,527)	0
Gain on conversion of Installment Note	(2,525)	0
Other	(3,314)	3,263
Changes in operating assets and liabilities, excluding impact of acquisitions:
Accounts receivable	1,044	(28,651)
Inventory	5,414	(5,410)
Other current and noncurrent assets	4,844	(1,916)
Accounts payable	1,580	9,365
Accrued expenses and other current and noncurrent liabilities	21,015	(2,619)
Net cash provided by operating activities	217,330	194,669
Cash flows from investing activities:
Capital expenditures	(5,561)	(16,679)
Acquisition of in-process research and development	0	(5,413)
Proceeds from sale of business, net of transaction costs	24,212	0
Proceeds from sale of assets	5,000	0
Purchases of investment in equity securities	0	(5,000)
Net cash provided by (used in) investing activities	23,963	(296,190)
Cash flows from financing activities:
Payments of long-term debt and other borrowings	(464)	(465)
Proceeds from stock option exercises	8,553	6,331
Proceeds from employee stock purchase plan	2,590	1,983
Payments for minimum statutory tax withholding related to net share settlement of equity awards	(17,797)	(24,481)
Repurchase of common stock	0	(100,000)
Net cash used in financing activities	(7,118)	(116,632)
Effect of exchange rate changes on cash, cash equivalents and restricted cash	14	929
Net increase (decrease) in cash, cash equivalents and restricted cash	234,189	(217,224)
Cash, cash equivalents and restricted cash, beginning of period	360,826	914,486
Cash, cash equivalents and restricted cash, end of period	595,015	697,262
Reconciliation to amounts within the condensed consolidated balance sheets
Cash and cash equivalents	593,298	695,572
Restricted cash included in other long-term assets	1,717	1,690
Cash, cash equivalents and restricted cash at end of period	595,015	697,262
Schedule of non-cash investing and financing activities
Additions of property, plant and equipment included in liabilities	2,207	6,834
Modification of lease agreement	1,939	5,789
Receipt of notes related to sale of business	94,000	0
Conversion of notes receivable into preferred stock	70,000	0
Contingent consideration assets related to sale of business	6,500	0
Contingent consideration liabilities related to the acquisition of Evergreen	0	43,042
Excise tax payable on net common stock repurchases	0	245
Right-of-use asset obtained in exchange for operating lease obligation	4,822	0
Right-of-use asset obtained in exchange for finance lease obligation	316	150
Lantheus Biosciences Ltd
Cash flows from investing activities:
Acquisition, net of cash acquired	312	0
Evergreen Theragnostics
Cash flows from investing activities:
Acquisition, net of cash acquired	$ 0	$ (269,098)

Condensed Consolidated Balance Sheets - USD ($) $ in Thousands	Jun. 30, 2026	Dec. 31, 2025
Current assets:
Cash and cash equivalents	$ 593,298	$ 359,121
Accounts receivable, net	352,887	358,640
Inventory, net	57,551	64,674
Income tax receivable	1,169	15,387
Other current assets	22,154	21,400
Assets held for sale	0	80,742
Total current assets	1,027,059	899,964
Investment in equity securities	118,980	42,213
Long-term notes receivable	24,526	0
Property, plant and equipment, net	153,270	163,686
Intangibles, net	689,335	722,779
Goodwill	239,050	239,517
Deferred tax assets, net	102,723	109,196
Other long-term assets	59,719	50,044
Total assets	2,414,662	2,227,399
Current liabilities:
Current portion of long-term debt and other borrowings	697	738
Accounts payable	48,109	42,906
Accrued expenses and other liabilities	286,871	267,307
Liabilities held for sale	0	22,468
Total current liabilities	335,677	333,419
Asset retirement obligations	140	138
Long-term debt and other borrowings, net of current portion	570,354	568,678
Long-term deferred tax liabilities	54,057	54,246
Long-term contingent consideration liabilities, net of current portion	51,122	73,255
Other long-term liabilities	91,534	107,866
Total liabilities	1,102,884	1,137,602
Commitments and contingencies (Note 15)
Stockholders' equity:
Preferred stock ($0.01 par value, 25,000 shares authorized; no shares issued and outstanding)	0	0
Common stock ($0.01 par value; 250,000 shares authorized; 72,506 and 71,827 shares issued; 65,265 and 64,586 shares outstanding at June 30, 2026, and December 31, 2025, respectively)	725	718
Additional paid-in capital	917,707	888,320
Treasury stock at cost; 7,241 shares at June 30, 2026 and December 31, 2025, respectively	(477,438)	(477,438)
Retained earnings	872,950	679,504
Accumulated other comprehensive loss	(2,166)	(1,307)
Total stockholders’ equity	1,311,778	1,089,797
Total liabilities and stockholders’ equity	$ 2,414,662	$ 2,227,399