Cumberland Pharma Q1 net revenue $9.2M, adj. EPS $0.11; expects Caldolor Medicare boost under NOPAIN Act

CUMBERLAND PHARMACEUTICALS INC

2023-FY EPS reported $0.01 revenue$9,224,638

Q1 2023 net revenues of $9.2M; net income of $0.2M ($0.01 EPS); adjusted earnings of $1.7M ($0.11 EPS).
Product revenue: Kristalose $4.3M, Sancuso $1.9M, Vibativ $1.8M, Caldolor $0.9M.
Caldolor expected to qualify for separate Medicare reimbursement under the NOPAIN Act, enacted April 2023.
FDA granted barrier-to-innovation waiver, refunding nearly $2M in RediTrex prescription drug program fees.
Balance sheet: $89M assets, $16M cash, $53M liabilities (including $16M drawn on revolver), $36M equity.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

CUMBERLAND PHARMACEUTICALS INC reported the first quarter of 2023 results: revenue $9.2 million, net income $0.2 million or $0.01 a share, EPS $0.01 a share.

Period: the first quarter of 2023
Revenue: $9.2 million
Net income: $0.2 million or $0.01 a share
EPS: $0.01 a share
Result: reported results

Exact text from the filing

Cumberland Pharmaceuticals Reports First Quarter 2023 Financial Results & Company Update NASHVILLE, TENNESSEE (Tuesday, May 9, 2023) - Cumberland Pharmaceuticals Inc. (NASDAQ: CPIX) , a specialty pharmaceutical company, today announced that the Company’s product portfolio of FDA-approved brands delivered combined revenues of $9.2 million during the first quarter of 2023. Net income for the period was $0.2 million, or $0.01 a share, resulting in adjusted earnings of $1.7 million, or $0.11 a share.

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Source: SEC EDGAR

accession 0001628280-23-016892

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