Assertio Q1 sales +18% to $41.8M; raises FY2023 outlook; plans Spectrum acquisition in Q3

Assertio Holdings, Inc.

2023-Q1 EPS reported -$0.07 revenue$42,466,000

Q1 net product sales $41.8M, up 18% YoY; GAAP net loss of $3.5M vs net income of $9.1M a year ago.
Adjusted EBITDA $25.6M vs $23.9M YoY; adjusted EPS $0.29 vs $0.38.
Full-year net product sales guidance raised to $157-167M; adjusted EBITDA guidance raised to $90-98M.
Acquisition of Spectrum (all-stock + CVR) expected to close Q3 2023, accretive to adjusted EPS and cash flow in 2024.
Converted $30M of convertible debt in Feb 2023, reducing outstanding debt by 43% and saving $2M annual interest.

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

Assertio Holdings, Inc. reported the three months ended March 31, 2023 results: revenue $41.8 million, net income $(3.5) million, EPS $(0.07) per share. Guidance raised.

Period: the three months ended March 31, 2023
Revenue: $41.8 million
Net income: $(3.5) million
EPS: $(0.07) per share
Guidance: raised
Result: reported results

Exact text from the filing

Adjusted Earnings Per Share (Non-GAAP) 1 $ 0.29 $ 0.38 First quarter results included the following as compared to the prior year quarter: • Net product sales increased 18%, to $41.8 million. ◦ Increased sales of Indocin and the addition of Sympazan more than offset expected declines in Cambia and Zipsor. ◦ Indocin sales increased 42%, primarily due to the transition

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Source: SEC EDGAR

accession 0001808665-23-000028

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