Assertio Q3 net product sales up 32% YoY to $34.3M; raises FY2022 guidance

Assertio Holdings, Inc.

2022-Q3 EPS reported $0.42 revenue$105,884,000

Net product sales $34.3M (+32% YoY); GAAP net income $4.2M vs $3.7M; adjusted EBITDA $21.4M (+36%).
Debt refinanced: $70M 6.5% convertible notes due 2027 replace $59M 13% senior notes, reducing cost and extending maturity.
Exclusive Sympazan license for $9M upfront; adds ~$1M sales in Q4, new patent to 2039; expects $4-4.5M EBITDA annually.
FY2022 guidance raised: net product sales >$141M (prior $129-137M), adjusted EBITDA >$86M (prior $73-79M).
Cash $64.8M at quarter end; generated $10M operating cash flow, 6th consecutive positive quarter.

item 2.02 item 5.03 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.95

Assertio Holdings, Inc. reported the three and nine months ended September 30, 2022 results: revenue $ 34.3, net income $ 4.2, EPS $ 0.08. Guidance raised.

Period: the three and nine months ended September 30, 2022
Revenue: $ 34.3
Net income: $ 4.2
EPS: $ 0.08
Guidance: raised
Result: reported results

Exact text from the filing

Highlights (unaudited): Three Months Ended September 30, Nine Months Ended September 30, (in millions, except per share amounts) 2022 2021 2022 2021 Net Product Sales (GAAP) $ 34.3 $ 26.0 $ 105.3 $ 77.3 Net Income (loss) (GAAP) $ 4.2 $ 3.7 $ 21.1 $ (5.9) Earnings (loss) Per Share (GAAP) $ 0.08 $ 0.08 $ 0.42 $ (0.14) Adjusted EBITDA (Non-GAAP) 1 $ 21.4 $ 15.8

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Governance Changes SEC 8-K Item 5.03/5.05/5.06 confidence 0.9

Assertio Holdings, Inc.: Amended and restated bylaws to implement universal proxy rules and update DGCL provisions (effective 2022-11-02).

Change: bylaw amendment
Effective: 2022-11-02

Exact text from the filing

On November 2, 2022, the Board of Directors of the Company approved and adopted amended and restated bylaws of the Company (the "Amended and Restated Bylaws"), which became effective as of such date.

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Assertio Holdings, Inc. filing history →

Source: SEC EDGAR

accession 0001808665-22-000068

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