Q4 2025 Alkermes Plc Earnings Call Transcript

Feb 25, 2026 / 01:00PM GMT

Release Date Price: $31.04 (-7.04%)

Transcript 10-K8-K

Key Points

Positve

Alkermes PLC (ALKS) expects to generate revenues of more than $1.7 billion and adjusted EBITDA of more than $370 million in 2026.
The acquisition of Avadel adds a new revenue stream and growth opportunity, accelerating entry into the commercial sleep medicine market.
Alkermes PLC (ALKS) plans to enter Phase 3 trials for alixorexton in narcolepsy, with FDA Breakthrough Therapy designation, indicating strong potential.
The company ended 2025 with a strong financial position, holding $1.3 billion in cash and total investments.
Alkermes PLC (ALKS) has a diverse portfolio of commercial products, generating nearly $1.5 billion in total revenues in 2025, with proprietary product sales growing 9% year-over-year.

Negative

SG&A expenses increased to $701.5 million in 2025, reflecting expansion and promotional activities, which may impact profitability.
The acquisition of Avadel required significant cash outlay and new term loans, increasing financial leverage.
Cost of goods sold are expected to rise in 2026 due to purchase price accounting related to LUMRYZ inventory.
The scheduled expiration of certain XEPLION royalties in 2026 may impact manufacturing and royalty revenues.
Alkermes PLC (ALKS) anticipates a GAAP net loss in the range of $115 million to $135 million in 2026, due to accounting related to the Avadel acquisition.

Operator

Greetings, and welcome to the Alkermes fourth-quarter 2025 financial results conference call. My name is Melissa, and I will be your operator for today's call. (Operator Instructions)

I will now turn the call over to Sandra Coombs, Senior Vice President of Investor Relations and Corporate Affairs. Sandy, please go ahead.

Sandra Coombs

Alkermes Plc - Senior Vice President, Corporate Affairs and Investor Relations

Good morning. Welcome to the Alkermes plc conference call to discuss our financial results and business update for the quarter and year ended December 31, 2025. With me today are Richard Pops, our CEO; Joshua Reed, our Chief Financial Officer; Todd Nichols, our Chief Commercial Officer; and Blair Jackson, our Chief Operating Officer, who will join us for the Q&A.

A slide presentation, along with our press release, related financial tables and reconciliations of the GAAP to non-GAAP financial measures that weâll discuss today, are available on the Investors section of alkermes.com. We believe the non-GAAP financial results, in

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