$ASND

Ascendis Pharma A/S

CIK:0001612042|SEC Filings

Consolidated Statements of Profit or (Loss) and Other Comprehensive Income or (Loss) - EUR (€) € in Thousands	12 Months Ended
	Dec. 31, 2025	Dec. 31, 2024	Dec. 31, 2023
Profit or loss [abstract]
Revenue	€ 720,132	€ 363,641	€ 266,718
Cost of sales	(94,915)	(44,258)	(44,395)
Gross profit	625,217	319,383	222,323
Research and development expenses	(303,621)	(307,004)	(413,454)
Selling, general, and administrative expenses	(457,867)	(291,142)	(264,410)
Operating profit/(loss)	(136,271)	(278,763)	(455,541)
Share of profit/(loss) of associates	16,308	(20,060)	(18,395)
Finance income	113,999	25,609	43,857
Finance expenses	(206,687)	(100,027)	(44,065)
Profit/(loss) before tax	(212,651)	(373,241)	(474,144)
Income taxes (expenses)	(15,383)	(4,843)	(7,303)
Net profit/(loss) for the year	(228,034)	(378,084)	(481,447)
Attributable to owners of the Company	€ (228,034)	€ (378,084)	€ (481,447)
Basic earnings/(loss) per share	€ (3.76)	€ (6.53)	€ (8.55)
Diluted earnings/(loss) per share	€ (3.76)	€ (6.53)	€ (8.55)
Statement of comprehensive income [abstract]
Net profit/(loss) for the year	€ (228,034)	€ (378,084)	€ (481,447)
Items that may be reclassified subsequently to profit or (loss):
Exchange differences on translating foreign operations	(3,538)	1,062	(2,731)
Other comprehensive income/(loss) for the year, net of tax	(3,538)	1,062	(2,731)
Total comprehensive income/(loss)	(231,572)	(377,022)	(484,178)
Attributable to owners of the Company	€ (231,572)	€ (377,022)	€ (484,178)

Consolidated Statement of Cash Flows - EUR (€) € in Thousands	12 Months Ended
	Dec. 31, 2025	Dec. 31, 2024	Dec. 31, 2023
Operating activities
Net profit/(loss) for the year	€ (228,034)	€ (378,084)	€ (481,447)
Reversal of finance income	(113,999)	(25,609)	(43,857)
Reversal of finance expenses	206,687	100,027	44,065
Reversal of (gain)/loss on disposal of property, plant and equipment	0	(91)	5
Reversal of income taxes	15,383	4,843	7,303
Adjustments for non-cash items:
Non-cash consideration relating to revenue	(5,630)	(27,069)	(2,354)
Share of (profit)/loss of associates	(16,308)	20,060	18,395
Share-based payment	116,171	95,512	66,660
Depreciation	17,206	17,247	18,428
Impairment of property, plant and equipment	5,283	0	7,834
Amortization	490	467	483
Changes in working capital:
Inventories	(5,920)	(86,678)	(78,258)
Receivables	15,588	(118,607)	(32,773)
Prepayments	(6,051)	10,392	(11,413)
Contract liabilities	131	(1,197)	(7,080)
Trade payables, accrued expenses and other liabilities	(10,373)	26,965	3,551
Provisions	77,585	61,968	26,187
Cash flows generated from/(used in) operations	68,209	(299,854)	(464,271)
Finance income received	15,302	14,374	17,048
Finance expenses paid	(22,935)	(15,205)	(15,672)
Income taxes received/(paid)	(6,679)	(5,512)	(4,466)
Cash flows from/(used in) operating activities	53,897	(306,197)	(467,361)
Investing activities
Proceeds from disposal of property, plant and equipment	0	950	51
Acquisition of intangible assets and property, plant and equipment	(8,485)	(1,427)	(2,442)
Settlement of marketable securities	0	7,353	288,865
Cash flows from/(used in) investing activities	(8,485)	6,876	286,474
Financing activities
Repayment of borrowings	(21,958)	(11,365)	(10,438)
Net proceeds from borrowings	0	134,158	136,256
Proceeds from exercise of warrants	87,078	30,514	10,286
Proceeds from follow-on public offering	0	309,913	0
Costs of follow-on public offering	0	(19,291)	0
Acquisitions of treasury shares, net of transactions costs	(17,396)	0	0
Payment of withholding taxes under stock incentive programs	(11,396)	0	(1,812)
Cash flows from/(used in) financing activities	36,328	443,929	134,292
Increase/(decrease) in cash and cash equivalents	81,740	144,608	(46,595)
Cash and cash equivalents at January 1	559,543	392,164	444,767
Effect of exchange rate changes on balances held in foreign currencies	(25,242)	22,771	(6,008)
Cash and cash equivalents at December 31	€ 616,041	€ 559,543	€ 392,164

Consolidated Statements of Financial Position - EUR (€) € in Thousands	Dec. 31, 2025	Dec. 31, 2024
Non-current assets
Intangible assets	€ 3,710	€ 4,028
Property, plant and equipment	146,479	98,714
Investments in associates	32,526	13,575
Other receivables	10,870	2,317
Total non-current assets	193,585	118,634
Current assets
Inventories	301,533	295,609
Trade receivables	141,333	166,280
Income tax receivables	1,781	1,775
Other receivables	14,582	9,385
Prepayments	33,715	28,269
Cash and cash equivalents	616,041	559,543
Total current assets	1,108,985	1,060,861
Total assets	1,302,570	1,179,495
Equity
Share capital	8,322	8,149
Distributable equity	(171,143)	(113,855)
Total equity	(162,821)	(105,706)
Non-current liabilities
Borrowings	385,254	365,080
Contract liabilities	1,123	5,000
Deferred tax liabilities	9,623	7,258
Total non-current liabilities	396,000	377,338
Convertible notes, matures in April 2028
Borrowings	429,391	458,207
Derivative liabilities	256,231	150,670
Convertible notes current	685,622	608,877
Other current liabilities
Borrowings	57,141	33,329
Contract liabilities	4,944	936
Trade payables and accrued expenses	90,657	96,394
Other liabilities	58,204	67,956
Income tax payables	6,427	1,222
Provisions	166,396	99,149
Other current liabilities	383,769	298,986
Total current liabilities	1,069,391	907,863
Total liabilities	1,465,391	1,285,201
Total equity and liabilities	€ 1,302,570	€ 1,179,495