CUMBERLAND PHARMACEUTICALS REPORTS 12% YEAR-TO-DATE REVENUE GROWTH
Rhea-AI Summary
Cumberland Pharmaceuticals (Nasdaq: CPIX) reported third-quarter 2025 net revenues of $8.3 million and year-to-date net revenues of $30.8 million, a 12% increase versus the first nine months of 2024. The company ended the quarter with approximately $66 million in total assets, $40 million in liabilities and $26 million of shareholders' equity, including $15 million in cash.
Recent developments include a co-commercialization and 30% ownership stake in newly formed Talicia Holdings (Talicia), international launches and approvals for Vibativ and an ibuprofen injection, inclusion of Vibativ in Vizient and Premier purchasing arrangements, and ongoing Phase II ifetroban programs with positive FIGHT DMD findings submitted to the FDA.
Positive
- Year-to-date revenue up 12% to $30.8M
- Added Talicia with 30% ownership via $4.0M investment
- Talicia patent protection through 2042 and QIDP exclusivity
- Vibativ added to Premier and Vizient group agreements
- Ifetroban Phase II showed 5.4% cardiac function improvement in DMD
Negative
- Third-quarter net loss of approximately $1.9M
- Operating expenses $10.3M exceeded Q3 revenues of $8.3M
- Year-to-date net loss of approximately $1.4M
- Cash balance of $15M may constrain near-term investment flexibility
News Market Reaction
On the day this news was published, CPIX declined 3.62%, reflecting a moderate negative market reaction. Argus tracked a peak move of +4.1% during that session. Argus tracked a trough of -4.5% from its starting point during tracking. Our momentum scanner triggered 19 alerts that day, indicating notable trading interest and price volatility. This price movement removed approximately $2M from the company's valuation, bringing the market cap to $41M at that time. Trading volume was elevated at 2.7x the daily average, suggesting increased selling activity.
Data tracked by StockTitan Argus on the day of publication.
Cumberland ended the quarter with approximately
"We are very pleased to add an established, FDA approved brand to our commercial portfolio," said Cumberland Pharmaceuticals CEO A.J. Kazimi. "We are also encouraged by the continued progress with our development programs designed to address a series of unmet medical needs in orphan patient populations. As we move into the final quarter of 2025, we remain focused on our mission of working together to provide unique products that improve the quality of patient care."
RECENT COMPANY DEVELOPMENTS INCLUDE:
New Product Added to Commercial Product Portfolio
Cumberland recently announced arrangements with RedHill Biopharma Ltd. ("RedHill") to jointly commercialize Talicia®, marking the latest addition to its commercial product portfolio. The FDA-approved oral capsule is indicated for the treatment of Helicobacter pylori(H. pylori) infection in adults, a bacterial infection and leading risk factor for gastric cancer.
Cumberland has formed a new company with RedHill, named Talicia Holdings, Inc. RedHill has assigned all its Talicia-related assets to the new company for a
Through a co-commercialization agreement, Cumberland will assume responsibility for the distribution and sale of Talicia in the
Talicia is the only all-in-one treatment containing omeprazole, amoxicillin and rifabutin, and is now recommended as a first-line therapy in the American College of Gastroenterology (ACG) clinical guidelines. Talicia is patent protected through 2042 and received eight years of U.S. market exclusivity under its Qualified Infectious Disease Product (QIDP) designation.
International Agreements
During the third quarter, Cumberland announced the launch of Vibativ® in
In October 2025, Cumberland's ibuprofen injection product received regulatory approval in
Additionally, Cumberland previously announced that its Vibativ product received approval from the regulatory authorities in
Vibativ® 4-Vial Starter Pak Now Available for Vizient Providers
Cumberland recently announced the availability of the Vibativ (telavancin) 4-Vial Starter Pak through a new supply arrangement with Vizient Inc., making it accessible to their healthcare providers nationwide.
As the country's largest provider-driven healthcare performance improvement company, Vizient serves more than
Vibativ® Added to Premier National Group Purchasing Agreement
In October 2025, Cumberland announced that Vibativ was added to a national group purchasing agreement with Premier, Inc. The product additional allows Premier members to purchase Vibativ, in the 12-vial carton and 4-vial Starter Pak. Premier is a leading healthcare improvement company, uniting an alliance of approximately 4,350 U.S. hospitals and 325,000 other providers and organizations. With expanded access, Premier member healthcare providers now have greater flexibility in ordering Vibativ for both inpatient and outpatient settings.
Ifetroban Clinical Studies
In June 2025, breakthrough findings from Cumberland's Phase II FIGHT DMD trial, evaluating its ifetroban product candidate in patients with Duchenne muscular dystrophy ("DMD"), were presented at the Parent Project Muscular Dystrophy Annual Conference. The findings demonstrated that high-dose ifetroban delivered a
The top-line FIGHT DMD study findings were also selected for a late-breaking presentation at the Muscular Dystrophy Association's Clinical & Scientific Conference in March 2025. In June 2025, Cumberland completed the comprehensive analysis of the study results, finalized its clinical study report and submitted it to the FDA, along with a request for an end-of-Phase 2 meeting. Cumberland then began interaction with the FDA to determine the remaining development requirements.
Meanwhile, Cumberland has been evaluating its ifetroban product candidate in a Phase II clinical program in patients with Systemic Sclerosis. Enrollment in the study was completed this year, and Cumberland is monitoring the clinical sites in preparation to lock the database and begin evaluating the results.
In addition, Cumberland has a Phase II clinical study, the FIGHTING FIBROSIS™ trial, underway in patients with Idiopathic Pulmonary Fibrosis, the most common form of progressive fibrosing interstitial lung disease. Patient enrollment is now well underway in medical centers across the
FINANCIAL RESULTS:
Net Revenue: For the third quarter of 2025, net revenues were
Year-to-date 2025 net revenues were
Operating Expenses: Total operating expenses were
Net Income (Loss): Year-to-date net loss was approximately
Adjusted Earnings: The adjusted loss for the third quarter of 2025 was
Balance Sheet: On September 30, 2025, Cumberland had approximately
EARNINGS REPORT CALL:
A conference call will be held today, November 4, 2025, at 4:30 p.m. Eastern Time to provide a Company update and discuss the financial results.
The link to register is https://register-conf.media-server.com/register/BI93f30c40680943ef8d49bc77222ec17f.
Registered participants can dial in from their phone using a dial-in and PIN number that will be provided to them. Alternatively, they can choose a "Call Me" option to have the system automatically call them at the start of the conference.
A replay of the call will be available for one year and can be accessed via Cumberland's website or by visiting: https://edge.media-server.com/mmc/p/irx2ggkf.
ABOUT CUMBERLAND PHARMACEUTICALS:
Cumberland Pharmaceuticals Inc. is the largest biopharmaceutical company founded and headquartered in
Acetadote® (acetylcysteine) injection, for the treatment of acetaminophen poisoning;
Caldolor® (ibuprofen) injection, for the treatment of pain and fever;
Kristalose® (lactulose) oral, a prescription laxative, for the treatment of constipation;
Sancuso® (granisetron) transdermal, for the prevention of nausea and vomiting in patients receiving certain types of chemotherapy treatment;
Vaprisol® (conivaptan) injection, to raise serum sodium levels in hospitalized patients with euvolemic and hypervolemic hyponatremia;
Vibativ® (telavancin) injection, for the treatment of certain serious bacterial infections including hospital-acquired and ventilator-associated bacterial pneumonia, as well as complicated skin and skin structure infections; and
Talicia®(omeprazole magnesium, amoxicillin and rifabutin) oral capsule, for the treatment of H. pylori infection.
The Company also has a series of Phase II clinical programs underway evaluating its ifetroban product candidate in patients with Duchenne Muscular Dystrophy, Systemic Sclerosis and Pulmonary Fibrosis.
For more information on Cumberland's approved products, including full prescribing information, please visit the links to the individual product websites, which can be found on the Company's website at www.cumberlandpharma.com.
About Acetadote® (acetylcysteine) Injection
Acetadote, administered intravenously within 8 to 10 hours after ingestion of a potentially hepatotoxic quantity of acetaminophen, is indicated to prevent or lessen hepatic injury. Used in the emergency department, Acetadote is approved in
About Caldolor® (ibuprofen) Injection
Caldolor is indicated in adults and pediatric patients for the management of mild to moderate pain and the management of moderate to severe pain as an adjunct to opioid analgesics, as well as the reduction of fever. It was the first FDA-approved intravenous therapy for fever.
Caldolor is contraindicated in patients with known hypersensitivity to ibuprofen or other non-steroidal anti-inflammatory drugs (NSAIDs) as well as patients with a history of asthma or other allergic type reactions after taking aspirin or other NSAIDs. Caldolor is contraindicated for use during the peri-operative period in the setting of coronary artery bypass graft (CABG) surgery. For full prescribing and safety information, including boxed warning, visit www.caldolor.com.
About Kristalose® (lactulose) Oral Solution
Kristalose is indicated for the treatment of acute and chronic constipation. It is a unique, proprietary, crystalline form of lactulose, with no restrictions on length of therapy or patient age. Kristalose is contraindicated in patients who require a low-galactose diet. Elderly, debilitated patients who receive lactulose for more than six months should have serum electrolytes (potassium, chloride, carbon dioxide) measured periodically. For full prescribing and safety information, visit www.kristalose.com.
About Sancuso®(granisetron) Transdermal System
Sancuso is the only skin patch approved by the FDA for the prevention of chemotherapy-induced nausea and vomiting (CINV) in patients receiving moderately and/or highly emetogenic chemotherapy. When applied 24 to 48 hours before receiving chemotherapy, the Sancuso patch slowly and continuously releases the medicine contained in the adhesive through clean and intact skin areas into the patient's bloodstream. It can prevent CINV for chemotherapy regimens of up to five consecutive days. For full prescribing and safety information, visit www.sancuso.com.
About Vaprisol® (conivaptan hydrochloride) Injection
Vaprisol is an intravenous treatment for hyponatremia used in the critical care setting. Hyponatremia is an electrolyte disturbance in which sodium ion concentration in blood plasma is lower than normal. This can be associated with a variety of critical care conditions including congestive heart failure, liver failure, kidney failure and pneumonia. The product is a vasopressin receptor antagonist that raises serum sodium levels and promotes free water secretion. Vaprisol is contraindicated in patients with hypovolemic hyponatremia. The coadministration of Vaprisol with potent CYP3A inhibitors, such as ketoconazole, itraconazole, clarithromycin, ritonavir and indinavir, is contraindicated. For full prescribing and safety information, including boxed warning, visit www.vaprisol.com.
About Vibativ® (telavancin) for Injection
Vibativ is a patented, FDA-approved injectable anti-infective for the treatment of certain serious bacterial infections including hospital-acquired and ventilator-associated bacterial pneumonia and complicated skin and skin structure infections. It addresses a range of Gram-positive bacterial pathogens, including those that are considered difficult-to-treat and multidrug-resistant. Intravenous unfractionated heparin sodium is contraindicated with Vibativ administration due to artificially prolonged activated partial thromboplastin time (aPTT) test results for up to 18 hours after Vibativ administration. Vibativ is contraindicated in patients with a known hypersensitivity to telavancin. For more information, please visit www.vibativ.com.
About Talicia®
Approved by the FDA for the treatment of H. pylori infection in adults in November 2019, Talicia is a novel, fixed-dose, all-in-one oral capsule combination of two antibiotics (amoxicillin and rifabutin) and a proton pump inhibitor (omeprazole). Talicia received eight years of U.S. market exclusivity under its Qualified Infectious Disease Product (QIDP) designation and is also covered by
ABOUT CUMBERLAND EMERGING TECHNOLOGIES:
Cumberland Emerging Technologies, Inc. (www.cet-fund.com) is a joint initiative between Cumberland Pharmaceuticals Inc., Vanderbilt University, LaunchTN and WinHealth. The mission of CET is to advance biomedical technologies and products conceived at Vanderbilt University and other regional research centers towards the marketplace. CET helps manage the development and commercialization process for select projects, and provides expertise on intellectual property, regulatory, manufacturing and marketing issues that are critical to successful new biomedical products. CET's Life Sciences Center provides laboratory space, equipment and infrastructure for CET's activities and other early-stage life sciences ventures.
FORWARD LOOKING STATEMENTS:
This press release contains forward-looking statements, which are subject to certain risks and reflect Cumberland's current views on future events based on what it believes are reasonable assumptions. No assurance can be given that these events will occur. Forward-looking statements include, among other things, statements regarding the Company's intent, belief or expectations, and can be identified by the use of terminology such as "may," "will," "expect," "believe," "intend," "plan," "estimate," "should," "seek," "anticipate," "look forward" and other comparable terms or the negative thereof. As with any business, all phases of Cumberland's operations are subject to factors outside of its control, and any one or combination of these factors could materially affect Cumberland's operation results. These factors include macroeconomic conditions, including rising interest rates and inflation, tariffs, prolonged government shutdown or budetary reductions or impasses, competition, an inability of manufacturers to produce Cumberland's products on a timely basis, failure of manufacturers to comply with regulations applicable to pharmaceutical manufacturers, natural disasters, public health epidemics, maintaining an effective sales and marketing infrastructure, and other events beyond the Company's control as more fully discussed in its most recent annual report on Form 10-K as filed with the
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CUMBERLAND PHARMACEUTICALS INC. AND SUBSIDIARIES Condensed Consolidated Balance Sheets (Unaudited) |
|||
|
|
|||
|
|
September 30, 2025 |
|
December 31, 2024 |
|
ASSETS |
|
|
|
|
Current assets: |
|
|
|
|
Cash and cash equivalents |
$ 15,196,745 |
|
$ 17,964,184 |
|
Accounts receivable, net |
10,430,602 |
|
11,701,466 |
|
Inventories, net |
2,934,723 |
|
3,999,995 |
|
Prepaid and other current assets |
1,377,378 |
|
2,786,513 |
|
Total current assets |
29,939,448 |
|
36,452,158 |
|
Non-current inventories |
9,183,862 |
|
11,005,499 |
|
Property and equipment, net |
293,375 |
|
277,365 |
|
Intangible assets, net |
15,010,795 |
|
17,973,449 |
|
Goodwill |
914,000 |
|
914,000 |
|
Operating lease right-of-use assets |
7,570,452 |
|
6,176,923 |
|
Other assets |
2,986,628 |
|
2,784,016 |
|
Total assets |
$ 65,898,560 |
|
$ 75,583,410 |
|
LIABILITIES AND EQUITY |
|
|
|
|
Current liabilities: |
|
|
|
|
Accounts payable |
$ 13,832,497 |
|
$ 13,914,266 |
|
Operating lease current liabilities |
401,445 |
|
356,508 |
|
Current portion of revolving line of credit |
— |
|
5,100,000 |
|
Other current liabilities |
10,076,027 |
|
12,250,955 |
|
Total current liabilities |
24,309,969 |
|
31,621,729 |
|
Revolving line of credit - long term |
5,240,733 |
|
10,176,170 |
|
Operating lease non-current liabilities |
4,595,768 |
|
4,939,739 |
|
Other long-term liabilities |
5,951,386 |
|
6,299,795 |
|
Total liabilities |
40,097,856 |
|
53,037,433 |
|
Equity: |
|
|
|
|
Shareholders' equity: |
|
|
|
|
Common stock— no par value; 100,000,000 shares authorized; 14,956,627 |
51,512,221 |
|
46,821,425 |
|
Accumulated deficit |
(25,392,367) |
|
(23,967,931) |
|
Total shareholders' equity |
26,119,854 |
|
22,853,494 |
|
Noncontrolling interests |
(319,150) |
|
(307,517) |
|
Total equity |
25,800,704 |
|
22,545,977 |
|
Total liabilities and equity |
$ 65,898,560 |
|
$ 75,583,410 |
|
CUMBERLAND PHARMACEUTICALS INC. AND SUBSIDIARIES Condensed Consolidated Statements of Operations (Unaudited) |
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|||||||
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|
Three months ended |
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Nine months ended |
||||
|
|
2025 |
|
2024 |
|
2025 |
|
2024 |
|
Net revenues |
$ 8,292,362 |
|
$ 9,085,826 |
|
$ 30,842,780 |
|
$ 27,432,376 |
|
Costs and expenses: |
|
|
|
|
|
|
|
|
Cost of products sold |
988,760 |
|
1,323,013 |
|
4,425,863 |
|
4,609,499 |
|
Selling and marketing |
4,433,831 |
|
4,397,480 |
|
12,889,458 |
|
12,800,469 |
|
Research and development |
1,253,367 |
|
1,306,095 |
|
4,016,842 |
|
3,523,535 |
|
General and administrative |
2,572,066 |
|
2,675,380 |
|
7,909,996 |
|
7,800,435 |
|
Amortization |
1,009,598 |
|
1,078,290 |
|
3,021,412 |
|
3,288,808 |
|
Total costs and expenses |
10,257,622 |
|
10,780,258 |
|
32,263,571 |
|
32,022,746 |
|
Operating loss |
(1,965,260) |
|
(1,694,432) |
|
(1,420,791) |
|
(4,590,370) |
|
Interest income |
131,583 |
|
69,190 |
|
384,781 |
|
227,777 |
|
Other income - insurance proceeds |
— |
|
237,089 |
|
— |
|
237,089 |
|
Interest expense |
(109,699) |
|
(137,374) |
|
(383,048) |
|
(382,247) |
|
Loss before income taxes |
(1,943,376) |
|
(1,525,527) |
|
(1,419,058) |
|
(4,507,751) |
|
Income tax expense |
(5,670) |
|
(11,442) |
|
(17,011) |
|
(34,327) |
|
Net loss |
(1,949,046) |
|
(1,536,969) |
|
(1,436,069) |
|
(4,542,078) |
|
Net loss (income) at subsidiary attributable to |
8,282 |
|
(7,112) |
|
11,633 |
|
(33,878) |
|
Net loss attributable to common shareholders |
$ (1,940,764) |
|
$ (1,544,081) |
|
$ (1,424,436) |
|
$ (4,575,956) |
|
Loss per share attributable to common shareholders |
|
|
|
|
|
|
|
|
- basic |
$ (0.13) |
|
$ (0.11) |
|
$ (0.10) |
|
$ (0.32) |
|
- diluted |
$ (0.13) |
|
$ (0.11) |
|
$ (0.10) |
|
$ (0.32) |
|
Weighted-average shares outstanding |
|
|
|
|
|
|
|
|
- basic |
14,958,534 |
|
14,052,754 |
|
14,953,944 |
|
14,089,496 |
|
- diluted |
14,958,534 |
|
14,052,754 |
|
14,953,944 |
|
14,089,496 |
|
|
|
|
|
|
|
|
|
|
CUMBERLAND PHARMACEUTICALS INC. AND SUBSIDIARIES Condensed Consolidated Statements of Cash Flows (Unaudited) |
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|||
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|
Nine months ended September 30, |
||
|
|
2025 |
|
2024 |
|
Cash flows from operating activities: |
|
|
|
|
Net loss |
$ (1,436,069) |
|
$ (4,542,078) |
|
Adjustments to reconcile net loss to net cash provided by operating activities: |
|
|
|
|
Depreciation and amortization expense |
3,103,306 |
|
3,406,166 |
|
Reduction in the carrying amount of right-of-use assets |
855,553 |
|
855,553 |
|
Share-based compensation |
236,160 |
|
227,083 |
|
Increase (decrease) in non-cash contingent consideration |
93,229 |
|
(936,072) |
|
Increase in cash surrender value of life insurance policies over premiums |
(131,967) |
|
(180,081) |
|
Noncash interest expense |
16,085 |
|
19,377 |
|
Loss on disposal of assets |
— |
|
2,691 |
|
Life insurance proceeds |
— |
|
(237,089) |
|
Net changes in assets and liabilities affecting operating activities: |
|
|
|
|
Accounts receivable |
1,270,864 |
|
(1,552,449) |
|
Inventories, net |
2,448,605 |
|
1,072,295 |
|
Other current assets and other assets |
818,959 |
|
1,022,718 |
|
Operating lease liabilities |
(662,117) |
|
(645,009) |
|
Accounts payable and other current liabilities |
(1,334,701) |
|
(667,065) |
|
Other long-term liabilities |
(348,409) |
|
(362,844) |
|
Net cash provided by (used in) operating activities |
4,929,498 |
|
(2,516,804) |
|
Cash flows from investing activities: |
|
|
|
|
Additions to property and equipment |
(97,904) |
|
(64,178) |
|
Life insurance policy proceeds received |
— |
|
237,556 |
|
Increase in cash surrender value of life insurance policies |
(47,000) |
|
— |
|
Net investment in manufacturing |
(1,447,695) |
|
— |
|
Additions to intangible assets |
(40,560) |
|
(88,727) |
|
Net cash (used in) provided by investing activities |
(1,633,159) |
|
84,651 |
|
Cash flows from financing activities: |
|
|
|
|
Proceeds from ATM offering, net |
5,266,334 |
|
— |
|
Borrowings on line of credit |
— |
|
32,988,920 |
|
Payments on line of credit |
(10,035,437) |
|
(29,681,472) |
|
Cash settlement of contingent consideration |
(1,031,197) |
|
(1,251,499) |
|
Payments made in connection with repurchase of common shares |
(263,478) |
|
(480,666) |
|
Net cash (used in) provided by financing activities |
(6,063,778) |
|
1,575,283 |
|
Net decrease in cash and cash equivalents |
(2,767,439) |
|
(856,870) |
|
Cash and cash equivalents at beginning of period |
17,964,184 |
|
18,321,624 |
|
Cash and cash equivalents at end of period |
$ 15,196,745 |
|
$ 17,464,754 |
|
CUMBERLAND PHARMACEUTICALS INC. AND SUBSIDIARIES
Reconciliation of Net Income (loss) Attributable to Common Shareholders to Adjusted Earnings (loss) and (Unaudited) |
||||||||
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|
||||||||
|
|
|
Three months ended |
|
Three months ended |
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|
|
|
2025 |
|
2025 |
|
2024 |
|
2024 |
|
|
|
Earnings |
|
Earnings per |
|
Earnings |
|
Earnings per |
|
Net loss attributable to common shareholders |
|
$ (1,940,764) |
|
$ (0.13) |
|
$ (1,544,081) |
|
$ (0.11) |
|
Less: Net (income) loss at subsidiary attributable to |
|
8,282 |
|
— |
|
(7,112) |
|
— |
|
Net loss |
|
(1,949,046) |
|
(0.13) |
|
(1,536,969) |
|
(0.11) |
|
Adjustments to net loss |
|
|
|
|
|
|
|
|
|
Income tax expense |
|
5,670 |
|
— |
|
11,442 |
|
— |
|
Depreciation and amortization |
|
1,037,804 |
|
0.07 |
|
1,116,036 |
|
0.08 |
|
Share-based compensation (a) |
|
81,262 |
|
0.01 |
|
76,371 |
|
0.01 |
|
Interest income |
|
(131,583) |
|
(0.01) |
|
(69,190) |
|
— |
|
Interest expense |
|
109,699 |
|
0.01 |
|
137,374 |
|
0.01 |
|
Adjusted earnings (loss) per share |
|
$ (846,194) |
|
$ (0.06) |
|
$ (264,936) |
|
$ (0.02) |
|
|
|
|
|
|
|
|
|
|
|
Diluted weighted-average common shares outstanding: |
|
|
|
14,958,534 |
|
|
|
14,052,754 |
|
|
|
|
|
|
|
|
|
|
|
Additional Information: |
|
|
|
|
|
|
|
|
|
Reduction in the carrying amount of right-of-use assets (b) |
|
$ 285,184 |
|
0.02 |
|
$ 285,184 |
|
0.02 |
|
CUMBERLAND PHARMACEUTICALS INC. AND SUBSIDIARIES
Reconciliation of Net Income (loss) Attributable to Common Shareholders to Adjusted Earnings (loss) and (Unaudited) |
||||||||
|
|
||||||||
|
|
|
Nine months ended |
|
Nine months ended |
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|
|
|
2025 |
|
2025 |
|
2024 |
|
2024 |
|
|
|
Earnings |
|
Earnings per |
|
Earnings |
|
Earnings per |
|
Net loss attributable to common shareholders |
|
$ (1,424,436) |
|
$ (0.09) |
|
$ (4,575,956) |
|
$ (0.32) |
|
Less: Net (income) loss at subsidiary attributable to |
|
11,633 |
|
— |
|
(33,878) |
|
— |
|
Net loss |
|
(1,436,069) |
|
(0.09) |
|
(4,542,078) |
|
(0.32) |
|
Adjustments to net loss |
|
|
|
|
|
|
|
|
|
Income tax expense |
|
17,011 |
|
— |
|
34,327 |
|
— |
|
Depreciation and amortization |
|
3,103,306 |
|
0.20 |
|
3,406,166 |
|
0.24 |
|
Share-based compensation (a) |
|
236,160 |
|
0.02 |
|
227,083 |
|
0.02 |
|
Interest income |
|
(384,781) |
|
(0.03) |
|
(227,777) |
|
(0.02) |
|
Interest expense |
|
383,048 |
|
0.03 |
|
382,247 |
|
0.03 |
|
Adjusted diluted earnings per share and adjusted loss |
|
$ 1,918,675 |
|
$ 0.13 |
|
$ (720,032) |
|
$ (0.05) |
|
|
|
|
|
|
|
|
|
|
|
Diluted weighted-average common shares outstanding: |
|
|
|
15,261,000 |
|
|
|
14,089,496 |
|
|
|
|
|
|
|
|
|
|
|
Additional Information: |
|
|
|
|
|
|
|
|
|
Reduction in the carrying amount of right-of-use assets (b) |
|
$ 855,553 |
|
0.06 |
|
$ 855,553 |
|
0.06 |
The Company provided the above adjusted supplemental financial performance measures, which are considered "non-GAAP" financial measures under applicable SEC rules and regulations. These financial measures should be considered supplemental to, and not as a substitute for, financial information prepared in accordance with Generally Accepted Accounting Principles ("GAAP"). The definition of these supplemental measures may differ from similarly titled measures used by others.
Because these supplemental financial measures exclude the effect of items that will increase or decrease the Company's reported results of operations, management encourages investors to review the Company's consolidated financial statements and publicly filed reports in their entirety. A reconciliation of the supplemental financial measures to the most directly comparable GAAP financial measures is included in the tables accompanying this release.
Cumberland's management believes these supplemental financial performance measures are important as they are used by management, along with financial measures in accordance with GAAP, to evaluate the Company's operating performance. In addition, Cumberland believes that they will be used by certain investors to measure the Company's operating results. Management believes that presenting these supplemental measures provides useful information about the Company's underlying performance across reporting periods on a consistent basis by excluding items that Cumberland does not believe are indicative of its core business performance or reflect long-term strategic activities. Certain of these items are not settled through cash payments and include: depreciation, amortization of intangible and right-of-use assets, share-based compensation expense and income taxes. Cumberland utilizes its net operating loss carryforwards to pay minimal income taxes. In addition, the use of these financial measures provides greater transparency to investors of supplemental information used by management in its financial and operational decision-making, including the evaluation of the Company's operating performance.
The Company defines these supplemental financial measures as follows:
-
Adjusted Earnings (loss): Net income (loss) adjusted for the impact of income taxes, depreciation and amortization expense, share-based compensation, interest income and interest expense.
(a) Represents the share-based compensation of Cumberland.
(b) Represents the straight line reduction in carrying value of right-of-use assets. - Adjusted Diluted Earnings (loss) Per Share: Adjusted Earnings (loss) divided by diluted weighted-average common shares outstanding.
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SOURCE Cumberland Pharmaceuticals Inc.
FAQ
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