Q1 2025 Emergent BioSolutions Inc Earnings Call Transcript
Key Points
- Emergent BioSolutions Inc (EBS) delivered on their revenue and adjusted EBITDA targets for Q1 2025, improving their cash and liquidity position.
- The company reaffirmed its revenue and adjusted EBITDA guidance for 2025, indicating confidence in their financial outlook.
- Emergent BioSolutions Inc (EBS) reduced their net leverage ratio significantly from 5.7x to 2.8x adjusted EBITDA year-over-year.
- The company completed two strategic business development transactions that align with and enhance their core capabilities.
- Emergent BioSolutions Inc (EBS) has a strong relationship with the US government and allied nations, ensuring preparedness with medical countermeasures.
- Total revenues for Q1 2025 were down compared to the prior year due to lower NARCAN and BAT sales and the divestiture of certain assets.
- The company faced challenges with NARCAN sales due to a third-party distributor selling short-dated generic naloxone inventory at a reduced price.
- There were purchasing delays for NARCAN as states sought to access federal funding programs, impacting sales.
- Emergent BioSolutions Inc (EBS) anticipates a sequential revenue decline in Q2 2025, with profitability expected to decline significantly before improving in the third quarter.
- The company is no longer reporting services as a separate segment due to divestitures and a deemphasis on their CDMO business as a growth driver.
Good day, and thank you for standing by. Welcome to the first-quarter 2025 Emergent BioSolutions, Inc., earnings conference call. (Operator Instructions) Please be advised that today's conference is being recorded.
I would now like to hand the conference over to your speaker today, Frank Vargo, Vice President, Assistant Treasurer. Please go ahead.
Good afternoon, everyone. Thank you for joining today as Emergent discusses their operational and financial results for the first quarter of 2025. As is customary, today's call is open to all participants. The call is being recorded and is copyrighted by Emergent BioSolutions. In addition to today's press release, there are a number of slides accompanying this webcast available to all webcast participants.
Turning to slide 2. During today's call, Emergent may make projections and other forward-looking statements related to their business, future events, their prospects or future performance. These forward-looking statements
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