$AMRX

Amneal Pharmaceuticals, Inc.

CIK:0001723128|SEC Filings

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]
Net revenue	$ 796,197	$ 724,508	$ 1,518,716	$ 1,419,928
Cost of goods sold	461,689	438,255	864,095	877,784
Gross profit	334,508	286,253	654,621	542,144
Selling, general and administrative	148,722	124,266	287,582	242,554
Research and development	39,017	47,964	77,400	88,004
Intellectual property legal development expenses	2,087	2,017	3,629	3,784
Acquisition costs	7,600	0	12,753	0
Restructuring and other charges	554	1,024	1,204	1,595
Charges (credit) related to legal matters, net	8,057	(390)	8,751	(390)
Other operating income	(1,298)	0	(8,239)	(5,122)
Operating income	129,769	111,372	271,541	211,719
Other (expense) income:
Interest expense, net	(55,043)	(65,101)	(108,404)	(122,040)
Foreign exchange (loss) gain, net	(1,950)	8,256	(9,750)	12,503
Loss on refinancing	0	0	(3,510)	0
Increase in tax receivable agreement liability	(2,439)	(4,420)	(106)	(15,107)
Other income, net	653	1,604	1,395	2,122
Total other expense, net	(58,779)	(59,661)	(120,375)	(122,522)
Income before income taxes	70,990	51,711	151,166	89,197
Provision for income taxes	1,376	16,101	3,552	28,969
Net income	69,614	35,610	147,614	60,228
Less: Net income attributable to non-controlling interests	(11,952)	(13,193)	(27,696)	(25,616)
Net income attributable to Amneal Pharmaceuticals, Inc.	$ 57,662	$ 22,417	$ 119,918	$ 34,612
Net income per share attributable to Amneal Pharmaceuticals, Inc.’s Class A common stockholders:
Basic (in dollars per share)	$ 0.18	$ 0.07	$ 0.38	$ 0.11
Diluted (in dollars per share)	$ 0.18	$ 0.07	$ 0.37	$ 0.11
Weighted-average common shares outstanding:
Basic (in shares)	319,200	313,739	317,620	312,404
Diluted (in shares)	328,102	322,363	328,527	323,171

Consolidated Statements of Cash Flows - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025
Cash flows from operating activities:
Net income	$ 147,614	$ 60,228
Adjustments to reconcile net income to net cash (used in) provided by operating activities:
Depreciation and amortization	90,991	120,272
Unrealized foreign currency loss (gain)	10,495	(11,813)
Amortization of debt issuance costs and discount	7,954	13,686
Reclassification of cash flow hedge	5,788	(5,876)
Loss on refinancing	3,510	0
Stock-based compensation	19,208	15,532
Inventory provision	44,957	38,432
Other operating charges and credits, net	3,086	2,254
Changes in assets and liabilities:
Trade accounts receivable, net	(125,765)	(32,615)
Inventories	(124,150)	(36,039)
Prepaid expenses, other current assets and other assets	(24,150)	(10,015)
Related party receivables	25	(1,108)
Accounts payable, accrued expenses and other liabilities	(57,918)	(67,004)
Related party payables	(49,632)	5,293
Net cash (used in) provided by operating activities	(47,987)	91,227
Cash flows from investing activities:
Purchases of property, plant and equipment	(38,872)	(35,992)
Acquisition of intangible assets	(85,000)	(5,100)
Deposits for future acquisition of property, plant and equipment	(20,580)	(4,632)
Proceeds from sale of property, plant and equipment	0	1,379
Net cash used in investing activities	(144,452)	(44,345)
Cash flows from financing activities:
Payments of principal on debt, revolving credit facilities, financing leases and other	(147,027)	(251,076)
Proceeds from issuance of debt	134,673	0
Payments of deferred financing and refinancing costs	(1,982)	(1,745)
Borrowings on revolving credit facilities	100,000	218,000
Proceeds from exercise of stock options	80	754
Employee payroll tax withholding on restricted stock unit and performance stock unit vesting	(44,481)	(21,828)
Tax and other distributions to non-controlling interests	(21,067)	(24,958)
Proceeds from alliance party	510	0
Acquisition of non-controlling interest	(400)	0
Net cash provided by (used in) financing activities	20,306	(80,853)
Effect of foreign exchange rate on cash	(1,187)	(777)
Net decrease in cash, cash equivalents, and restricted cash	(173,320)	(34,748)
Cash, cash equivalents, and restricted cash - beginning of period	312,939	118,420
Cash, cash equivalents, and restricted cash - end of period	139,619	83,672
Cash and cash equivalents - end of period	127,637	71,544
Restricted cash - end of period	8,643	9,642
Long-term restricted cash included in other assets - end of period	3,339	2,486
Cash, cash equivalents, and restricted cash - end of period	139,619	83,672
Supplemental disclosure of cash flow information:
Cash paid for interest	91,745	112,643
Cash received (paid), net for income taxes	314	(12,565)
Supplemental disclosure of non-cash investing and financing activity:
Acquisition of product rights and licenses	12,102	7,000
Loan for land purchase - related party	$ 0	$ 502

Consolidated Balance Sheets - USD ($) $ in Thousands	Jun. 30, 2026	Dec. 31, 2025
Current assets:
Cash and cash equivalents	$ 127,637	$ 282,029
Restricted cash	8,643	28,842
Inventories	677,954	606,302
Prepaid expenses and other current assets	112,011	98,395
Total current assets	1,947,029	1,911,181
Property, plant and equipment, net	456,877	442,950
Goodwill	593,499	595,470
Intangible assets, net	587,830	563,498
Other assets	80,669	57,805
Total assets	3,776,348	3,678,280
Current liabilities:
Current portion of liabilities for legal matters	18,488	43,256
Revolving credit facility	100,000	0
Current portion of long-term debt, net	5,961	6,761
Total current liabilities	883,187	881,633
Long-term debt, net	2,564,335	2,565,115
Liabilities for legal matters - long term	70,830	71,819
Total long-term liabilities	2,776,181	2,790,684
Commitments and contingencies (Notes 3, 16 and 18)
Redeemable non-controlling interests	83,956	77,292
Stockholders’ Equity (Deficiency)
Preferred stock, $0.01 par value, 2,000 shares authorized at both June 30, 2026 and December 31, 2025; none issued at both June 30, 2026 and December 31, 2025	0	0
Additional paid-in capital	545,584	571,794
Stockholders’ accumulated deficit	(415,087)	(535,005)
Accumulated other comprehensive loss	(100,666)	(110,729)
Total Amneal Pharmaceuticals, Inc. stockholders’ equity (deficiency)	33,024	(70,794)
Non-controlling interests	0	(535)
Total stockholders’ equity (deficiency)	33,024	(71,329)
Total liabilities and stockholders’ equity (deficiency)	3,776,348	3,678,280
Nonrelated Party
Current assets:
Receivables	1,020,360	895,143
Operating lease right-of-use assets	44,361	38,832
Financing lease right-of-use assets	52,360	53,328
Current liabilities:
Accounts payable and accrued expenses	721,208	761,316
Current portion of operating lease liabilities	9,040	8,668
Current portion of financing lease liabilities	3,521	3,442
Operating lease liabilities	38,691	33,233
Financing lease liabilities	54,602	54,927
Related party payables - long term	32,119	32,263
Related Party
Current assets:
Receivables	424	470
Operating lease right-of-use assets	13,723	15,216
Current liabilities:
Accounts payable and accrued expenses	22,070	55,485
Current portion of operating lease liabilities	2,899	2,705
Operating lease liabilities	12,712	14,195
Related party payables - long term	2,892	19,132
Common Class A
Stockholders’ Equity (Deficiency)
Common stock	3,193	3,146
Common Class B
Stockholders’ Equity (Deficiency)
Common stock	$ 0	$ 0