STOCK TITAN

Lantheus Reports First Quarter 2025 Financial Results and Provides Business Update

Rhea-AI Impact
(Moderate)
Rhea-AI Sentiment
(Neutral)
Tags
Lantheus Holdings (NASDAQ: LNTH) reported Q1 2025 financial results with worldwide revenue of $372.8M, up 0.8% YoY. GAAP earnings per share decreased to $1.02 from $1.87, while adjusted EPS fell to $1.53 from $1.69. Key product performance included PYLARIFY sales of $257.7M (-0.5%) and DEFINITY sales of $79.2M (+3.5%). The company's cash position strengthened to $938.5M. Lantheus announced significant strategic moves: completing the Evergreen Theragnostics acquisition, expecting to close Life Molecular Imaging acquisition soon, and planning to divest its SPECT business. The company reported positive data for MK-6240 pivotal studies and plans an NDA filing in Q3 2025. However, the Phase 3 SPLASH study showed confounded results, leading to discontinued pursuit of the PNT2002 program. The company updated its FY2025 guidance, now projecting revenue of $1.550B-$1.585B and adjusted EPS of $6.60-$6.70, lower than previous estimates.
Lantheus Holdings (NASDAQ: LNTH) ha riportato i risultati finanziari del primo trimestre 2025 con ricavi globali di 372,8 milioni di dollari, in aumento dello 0,8% su base annua. L'utile per azione GAAP è sceso a 1,02 dollari da 1,87 dollari, mentre l'EPS rettificato è diminuito a 1,53 dollari da 1,69 dollari. Le performance chiave dei prodotti includono vendite di PYLARIFY per 257,7 milioni di dollari (-0,5%) e di DEFINITY per 79,2 milioni di dollari (+3,5%). La posizione di cassa dell'azienda si è rafforzata a 938,5 milioni di dollari. Lantheus ha annunciato importanti mosse strategiche: il completamento dell'acquisizione di Evergreen Theragnostics, la prossima chiusura prevista dell'acquisizione di Life Molecular Imaging e la pianificazione della cessione del business SPECT. L'azienda ha riportato dati positivi per gli studi pivotali su MK-6240 e prevede una presentazione NDA nel terzo trimestre 2025. Tuttavia, lo studio di Fase 3 SPLASH ha mostrato risultati contrastanti, portando all'interruzione del programma PNT2002. La società ha aggiornato le previsioni per l'anno fiscale 2025, ora prevedendo ricavi tra 1,550 e 1,585 miliardi di dollari e un EPS rettificato tra 6,60 e 6,70 dollari, inferiori alle stime precedenti.
Lantheus Holdings (NASDAQ: LNTH) reportó los resultados financieros del primer trimestre de 2025 con ingresos globales de 372.8 millones de dólares, un aumento del 0.8% interanual. Las ganancias por acción GAAP disminuyeron a 1.02 dólares desde 1.87 dólares, mientras que las ganancias ajustadas por acción cayeron a 1.53 dólares desde 1.69 dólares. El desempeño clave de productos incluyó ventas de PYLARIFY por 257.7 millones de dólares (-0.5%) y de DEFINITY por 79.2 millones de dólares (+3.5%). La posición de efectivo de la compañía se fortaleció a 938.5 millones de dólares. Lantheus anunció movimientos estratégicos significativos: completó la adquisición de Evergreen Theragnostics, espera cerrar pronto la adquisición de Life Molecular Imaging y planea desinvertir en su negocio SPECT. La compañía reportó datos positivos para los estudios pivotales de MK-6240 y planea presentar una NDA en el tercer trimestre de 2025. Sin embargo, el estudio de Fase 3 SPLASH mostró resultados confusos, lo que llevó a la discontinuación del programa PNT2002. La empresa actualizó sus previsiones para el año fiscal 2025, proyectando ahora ingresos de 1,550 a 1,585 millones de dólares y ganancias ajustadas por acción de 6.60 a 6.70 dólares, por debajo de las estimaciones previas.
Lantheus Holdings (NASDAQ: LNTH)는 2025년 1분기 재무 실적을 발표하며 전 세계 매출 3억 7,280만 달러로 전년 대비 0.8% 증가했습니다. GAAP 주당순이익은 1.87달러에서 1.02달러로 감소했으며, 조정 주당순이익은 1.69달러에서 1.53달러로 하락했습니다. 주요 제품 실적은 PYLARIFY 매출 2억 5,770만 달러(-0.5%)와 DEFINITY 매출 7,920만 달러(+3.5%)를 포함합니다. 회사의 현금 보유액은 9억 3,850만 달러로 강화되었습니다. Lantheus는 중요한 전략적 움직임을 발표했습니다: Evergreen Theragnostics 인수 완료, Life Molecular Imaging 인수 조만간 마무리 예정, 그리고 SPECT 사업 매각 계획. 회사는 MK-6240 중추 연구에서 긍정적인 데이터를 보고했으며 2025년 3분기에 NDA 신청을 계획하고 있습니다. 그러나 3상 SPLASH 연구는 혼재된 결과를 보여 PNT2002 프로그램 추구를 중단했습니다. 회사는 2025 회계연도 가이던스를 업데이트하여 매출을 15억 5,000만 달러에서 15억 8,500만 달러로, 조정 주당순이익을 6.60~6.70달러로 하향 조정했습니다.
Lantheus Holdings (NASDAQ : LNTH) a publié ses résultats financiers du premier trimestre 2025 avec un chiffre d'affaires mondial de 372,8 millions de dollars, en hausse de 0,8 % en glissement annuel. Le bénéfice par action GAAP a diminué à 1,02 dollar contre 1,87 dollar, tandis que le BPA ajusté est passé de 1,69 à 1,53 dollar. Les performances clés des produits incluent des ventes de PYLARIFY à 257,7 millions de dollars (-0,5 %) et de DEFINITY à 79,2 millions de dollars (+3,5 %). La trésorerie de l'entreprise s'est renforcée à 938,5 millions de dollars. Lantheus a annoncé des mouvements stratégiques importants : finalisation de l'acquisition d'Evergreen Theragnostics, clôture prochaine prévue de l'acquisition de Life Molecular Imaging et projet de cession de son activité SPECT. La société a rapporté des données positives pour les études pivots de MK-6240 et prévoit un dépôt de NDA au troisième trimestre 2025. Cependant, l'étude de phase 3 SPLASH a donné des résultats contradictoires, conduisant à l'abandon du programme PNT2002. L'entreprise a mis à jour ses prévisions pour l'exercice 2025, prévoyant désormais un chiffre d'affaires entre 1,550 et 1,585 milliard de dollars et un BPA ajusté entre 6,60 et 6,70 dollars, en dessous des estimations précédentes.
Lantheus Holdings (NASDAQ: LNTH) meldete die Finanzergebnisse für das erste Quartal 2025 mit weltweiten Einnahmen von 372,8 Mio. USD, was einem Anstieg von 0,8 % im Jahresvergleich entspricht. Der GAAP-Gewinn je Aktie sank von 1,87 USD auf 1,02 USD, während der bereinigte Gewinn je Aktie von 1,69 USD auf 1,53 USD fiel. Die wichtigsten Produktleistungen umfassten PYLARIFY-Verkäufe von 257,7 Mio. USD (-0,5 %) und DEFINITY-Verkäufe von 79,2 Mio. USD (+3,5 %). Die Bargeldposition des Unternehmens stärkte sich auf 938,5 Mio. USD. Lantheus kündigte bedeutende strategische Schritte an: den Abschluss der Übernahme von Evergreen Theragnostics, die baldige geplante Übernahme von Life Molecular Imaging und die geplante Veräußerung des SPECT-Geschäfts. Das Unternehmen berichtete positive Daten für die entscheidenden Studien zu MK-6240 und plant eine NDA-Einreichung im dritten Quartal 2025. Die Phase-3-Studie SPLASH zeigte jedoch widersprüchliche Ergebnisse, was zur Einstellung des PNT2002-Programms führte. Das Unternehmen aktualisierte seine Prognose für das Geschäftsjahr 2025 und erwartet nun Umsätze zwischen 1,550 Mrd. und 1,585 Mrd. USD sowie einen bereinigten Gewinn je Aktie von 6,60 bis 6,70 USD, was unter den bisherigen Schätzungen liegt.
Positive
  • Strong cash position with $938.5M in cash and access to $750M credit line
  • Strategic acquisitions of Evergreen Theragnostics and Life Molecular Imaging to diversify revenue streams
  • Positive data from MK-6240 pivotal studies with NDA filing planned for Q3 2025
  • Robust free cash flow of $98.8M in Q1
  • DEFINITY sales grew 3.5% to $79.2M
Negative
  • GAAP EPS declined 45.5% to $1.02 from $1.87 YoY
  • Adjusted EPS decreased 9.5% to $1.53 from $1.69
  • PYLARIFY sales declined 0.5% to $257.7M
  • Phase 3 SPLASH study showed confounded results, leading to discontinued program
  • Lowered FY2025 guidance for adjusted EPS from $7.00-$7.20 to $6.60-$6.70

Insights

Lantheus shows mixed results with flat revenue but declining profits amid strategic radiopharmaceutical repositioning through acquisitions and divestitures.

Lantheus reported $372.8 million in Q1 2025 revenue, a modest 0.8% year-over-year increase, while profitability metrics declined significantly. GAAP EPS fell 45.5% to $1.02 from $1.87, and adjusted EPS decreased 9.5% to $1.53 from $1.69. This divergence between GAAP and adjusted results indicates substantial non-operational factors affecting reported earnings.

The company's product performance was mixed: PYLARIFY sales decreased slightly by 0.5% to $257.7 million, suggesting potential market saturation for their lead product, while DEFINITY grew 3.5% to $79.2 million. Despite profit challenges, Lantheus generated robust free cash flow of $98.8 million and increased its cash position to $938.5 million from $912.8 million at year-end 2024, maintaining financial flexibility for strategic initiatives.

The company is executing a strategic repositioning through multiple transactions: completing the Evergreen Theragnostics acquisition, advancing the Life Molecular Imaging purchase, and divesting its SPECT business. However, Lantheus has reduced its 2025 adjusted EPS guidance from $7.00-$7.20 to $6.60-$6.70, a 5-8% decrease, while narrowing its revenue guidance to $1.550-$1.585 billion. This suggests potential margin compression in the near term as the company transitions its business mix.

The pipeline yielded mixed news with positive data for MK-6240 in Alzheimer's diagnostics, while the company decided against pursuing an NDA for PNT2002 after Phase 3 results. This balanced picture of strategic repositioning against near-term profit challenges reflects a company investing in future growth while managing through a transition period.

Lantheus strategically reshapes portfolio through acquisitions in high-growth radiopharmaceuticals while advancing Alzheimer's diagnostic toward FDA submission.

Lantheus is orchestrating a comprehensive transformation of its radiopharmaceutical portfolio through three strategic moves: acquiring Evergreen Theragnostics (completed), pursuing Life Molecular Imaging (pending), and divesting its legacy SPECT business. This represents a deliberate pivot from older nuclear medicine technology toward cutting-edge PET imaging and therapeutic radiopharmaceuticals.

The Evergreen acquisition brings OCTEVY™, a late-stage PET imaging agent for neuroendocrine tumors that creates synergy with Lantheus' PNT2003 therapeutic candidate. More significantly, it provides critical radioligand therapy manufacturing infrastructure and a revenue-generating CDMO business, vertically integrating their capabilities from development through commercialization.

In neurology, Lantheus reported positive pivotal data for MK-6240, their tau imaging agent for Alzheimer's disease, meeting primary endpoints for sensitivity and specificity. With NDA submission planned for Q3 2025, this positions the company strategically in the rapidly evolving Alzheimer's market. The pending Life Molecular acquisition will add Neuraceq®, an approved beta-amyloid radiodiagnostic, giving Lantheus comprehensive Alzheimer's diagnostic capabilities targeting both primary pathological hallmarks of the disease.

Pipeline setbacks include abandoning PNT2002 despite reaching 100% of prespecified overall survival events, with results described as "confounded by patient crossover." However, LNTH-2503, a potential first-in-class lutetium-177 theranostic targeting CCK2R for small cell lung cancer, received authorization to advance to Phase 1 therapeutic studies.

These strategic realignments demonstrate Lantheus' commitment to building a focused radiopharmaceutical platform with complementary diagnostic and therapeutic capabilities in oncology and neurology.

  • Worldwide revenue of $372.8 million in the first quarter 2025
  • GAAP fully diluted earnings per share of $1.02, compared to $1.87 in the first quarter of 2024; adjusted fully diluted earnings per share of $1.53, compared to $1.69 in the first quarter of 2024
  • Free cash flow totaled $98.8 million for the first quarter 2025
  • Closed acquisition of Evergreen Theragnostics early in the second quarter; expect to close on acquisition of Life Molecular Imaging in the coming weeks; and yesterday announced planned divestiture of SPECT business
  • Recently announced positive data for two MK-6240 pivotal studies; plan to file NDA in the third quarter of 2025
  • Provided updated interim corporate guidance for full year 2025 revenue and adjusted fully diluted earnings per share

BEDFORD, Mass., May 07, 2025 (GLOBE NEWSWIRE) -- Lantheus Holdings, Inc. (Lantheus or the Company) (NASDAQ: LNTH), the leading radiopharmaceutical-focused company committed to enabling clinicians to Find, Fight and Follow disease to deliver better patient outcomes, today reported financial results for its first quarter ended March 31, 2025.

"We are laying the foundation for the next chapter of Lantheus’ business with the acquisition of Evergreen Theragnostics and planned acquisition of Life Molecular Imaging, both of which add growth drivers that complement our business and diversify our revenues. These transactions also add exciting new pipeline programs in both late- and early-stage development and key capabilities that enable Lantheus to progress novel programs from bench to clinic," said Brian Markison, Chief Executive Officer at Lantheus. "With robust cash flow and a disciplined capital allocation strategy, we are advancing our position as the leading radiopharmaceutical-focused company. We remain dedicated to being the partner of choice for nuclear medicine departments and free-standing imaging centers, delivering sustainable growth, creating long-term value for our shareholders, and bringing innovative products to patients in need."

Summary Financial Results

(in millions, except per share data – unaudited)
 Three Months Ended
March 31,
  2025 2024% Change
Worldwide revenue $372.8 $370.0 0.8%
GAAP net income $72.9 $131.1 (44.3)%
GAAP fully diluted earnings per share $1.02 $1.87 (45.5)%
Adj. net income (non-GAAP) $109.5 $118.3 (7.5)%
Adj. fully diluted earnings per share (non-GAAP) $1.53 $1.69 (9.5)%
         

First Quarter 2025

  • Sales of PYLARIFY were $257.7 million, a decrease of 0.5%.
  • Sales of DEFINITY were $79.2 million, an increase of 3.5%.
  • Operating income decreased 4.3% to $102.1 million. Adjusted operating income (non-GAAP) decreased 7.1% to $144.3 million.
  • Fully diluted earnings per share decreased to $1.02, compared to $1.87 in the prior year period. Adjusted fully diluted earnings per share (non-GAAP) decreased 9.5% to $1.53, compared to $1.69 in the prior year period.
  • Net cash provided by operating activities and free cash flow were $107.6 million and $98.8 million, respectively.

Balance Sheet

  • At March 31, 2025, the Company's cash and cash equivalents grew to $938.5 million, compared to $912.8 million at December 31, 2024, after prepaying a $50.0 million deposit related to our Evergreen Theragnostics, Inc. (Evergreen) acquisition, which closed early in the second quarter of 2025.
  • The Company currently has access to up to $750.0 million from a revolving line of credit.

Recent Business Highlights

Business Development Updates

  • In January, the Company announced an agreement to acquire Life Molecular Imaging Ltd. (Life Molecular), which is now expected to close in the second quarter of 2025, subject to customary closing conditions. The acquisition will provide Lantheus with Neuraceq®, a globally approved beta-amyloid targeted radiodiagnostic for Alzheimer’s disease, along with a strong commercial footprint and infrastructure. The deal is complementary to Lantheus’ portfolio of late-stage neurology radiodiagnostics and builds on the acquisition of worldwide rights to LNTH-2401 (68Ga-DOTA-RM2) and LNTH-2402 (177Lu-DOTA-RM2) announced last year.
  • Also in January, the Company announced an agreement to acquire Evergreen, a clinical-stage radiopharmaceutical company based in New Jersey. On April 1, we announced the completion of the acquisition. Through the transaction, Lantheus has acquired OCTEVY, a registrational-stage PET imaging agent targeting neuroendocrine tumors, which complements Lantheus’ therapeutic candidate PNT2003, as well as acquiring a portfolio of clinical and pre-clinical theranostic pairs. The acquisition also advances Lantheus’ capabilities with the addition of Evergreen’s radioligand therapy manufacturing infrastructure, including a revenue-generating CDMO business.
  • On May 6, 2025, the Company announced the agreement to sell the Company’s SPECT business to Illuminated Holdings, Inc., the parent company of SHINE Technologies, LLC (SHINE). Under the terms of the agreement, SHINE will acquire Lantheus’ SPECT business, including its diagnostic agents (TechneLite, NEUROLITE, Xenon Xe-133 Gas, and Cardiolite), the portion of the North Billerica, MA campus that manufactures Lantheus’ SPECT products and the SPECT-related Canadian operations. The transaction allows Lantheus to focus on growing its commercial portfolio of innovative PET radiodiagnostics and microbubbles, while advancing its pipeline of radiopharmaceuticals. The transaction is expected to close by the end of the year, subject to customary closing conditions.

Radiopharmaceutical Pipeline Updates

  • Lantheus recently announced that MK-6240, its next-generation tau imaging agent, met its primary endpoints in two pivotal clinical studies assessing the investigational asset’s sensitivity and specificity. The Company plans to submit a New Drug Application (NDA) to the U.S. Food and Drug Administration (FDA) in the third quarter of 2025.
  • LNTH-2503, a potentially best- and first-in-class lutetium-177 theranostic pair targeting the cholecystokinin receptor (CCK2R) brought in by the Evergreen acquisition, has been authorized to proceed with a therapeutic Phase 1 study in patients with small cell lung cancer by the European Medicines Agency (EMA). The Company expects to initiate the Phase 1 therapeutic study in the United States later this year and continue its ongoing Phase 2 gallium-68 imaging study.
  • The Phase 3 SPLASH study of PNT2002 recently reached 100% of prespecified overall survival events. The results were comparable to the previously reported 46% and 75% readouts and remain confounded by patient crossover within the study. The Company is working closely with partner, Eli Lilly and Company, to review the full dataset, however the Company does not plan to pursue an NDA or further invest in this asset.

Full Year 2025 Interim Corporate Financial Guidance

  Guidance Issued May 7, 2025Guidance Issued February 26, 2025
FY 2025 Revenue $1.550 billion - $1.585 billion$1.545 billion - $1.610 billion
FY 2025 Adjusted fully diluted EPS $6.60 - $6.70$7.00 - $7.20
    

On a forward-looking basis, the Company does not provide GAAP income per common share guidance or a reconciliation of GAAP income per common share to adjusted fully diluted EPS because the Company is unable to predict with reasonable certainty business development and acquisition related expenses, purchase accounting fair value adjustments, and any one-time, non-recurring charges. These items are uncertain, depend on various factors, and could be material to results computed in accordance with GAAP. As a result, it is the Company’s view that a quantitative reconciliation of adjusted fully diluted EPS on a forward-looking basis is not available without unreasonable effort.

Conference Call and Webcast

As previously announced, the Company will host a conference call and webcast on Wednesday, May 7, 2025, at 8:00 a.m. ET. To access the conference call or webcast, participants should register online at https://investor.lantheus.com/news-events/calendar-of-events.

A replay will be available approximately two hours after completion of the webcast and will be archived on the same web page for at least 30 days.

The conference call will include a discussion of non-GAAP financial measures. Reference is made to the most directly comparable GAAP financial measures, the reconciliation of the differences between the two financial measures, and the other information included in this press release, our Form 8-K filed with the SEC today, or otherwise available in the Investor Relations section of our website located at www.lantheus.com.

The conference call may include forward-looking statements. See the cautionary information about forward-looking statements in the safe-harbor section of this press release.

About Lantheus Holdings, Inc.

Lantheus is the leading radiopharmaceutical-focused company, delivering life-changing science to enable clinicians to Find, Fight and Follow disease to deliver better patient outcomes. Headquartered in Massachusetts with offices in New Jersey, Canada and Sweden, Lantheus has been providing radiopharmaceutical solutions for nearly 70 years. For more information, visit www.lantheus.com. 

Internet Posting of Information

The Company routinely posts information that may be important to investors in the “Investors” section of its website at www.lantheus.com. The Company encourages investors and potential investors to consult its website regularly for important information about the Company. 

Non-GAAP Financial Measures

The Company uses non-GAAP financial measures, such as adjusted net income and its line components; adjusted net income per share - fully diluted; adjusted operating income and its line components, and free cash flow. The Company’s management believes that the presentation of these measures provides useful information to investors. These measures may assist investors in evaluating the Company’s operations, period over period. However, these measures may exclude items that may be highly variable, difficult to predict and of a size that could have a substantial impact on the Company’s reported results of operations for a particular period. Management uses these and other non-GAAP measures internally for evaluation of the performance of the business, including the evaluation of results relative to employee performance compensation targets. Investors should consider these non-GAAP measures only as a supplement to, not as a substitute for or as superior to, measures of financial performance prepared in accordance with GAAP.

Safe Harbor for Forward-Looking and Cautionary Statements

This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, as amended, that are subject to risks and uncertainties and are made pursuant to the safe harbor provisions of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Forward-looking statements may be identified by their use of terms such as “advance,” “believe,” “continue,” “could,” “driving,” “expect,” “guidance,” “maintain,” “may,” “on track,” “plan,” “potential,” “predict,” “progress,” “should,” “target,” “will,” “would” and other similar terms. Such forward-looking statements include our guidance for the fiscal year 2025 and our plans to expand our portfolio of late-stage assets and high potential early-stage candidates, our acquisition of Evergreen, our potential acquisition of Life Molecular and our plans to divest our SPECT business to SHINE, and are based upon current plans, estimates and expectations that are subject to risks and uncertainties that could cause actual results to materially differ from those described in the forward-looking statements. The inclusion of forward-looking statements should not be regarded as a representation that such plans, estimates and expectations will be achieved. Readers are cautioned not to place undue reliance on the forward-looking statements contained herein, which speak only as of the date hereof. The Company undertakes no obligation to publicly update any forward-looking statement, whether as a result of new information, future developments or otherwise, except as may be required by law. Risks and uncertainties that could cause our actual results to materially differ from those described in the forward-looking statements include: (i) continued market expansion and penetration for our established commercial products, particularly PYLARIFY and DEFINITY, in a competitive environment and our ability to clinically and commercially differentiate our products; (ii) our ability to have third parties manufacture our products and our ability to manufacture DEFINITY in our in-house manufacturing facility, in amounts and at the times needed; (iii) the availability of raw materials, key components, and equipment, either used in the production of our products and product candidates, or in the use by healthcare professionals of our products and product candidates, including, but not limited to positron emission tomography (“PET”) scanners for PYLARIFY, MK-6240 and NAV-4694; (iv) our ability to satisfy our obligations under our existing clinical development partnerships using MK-6240 or NAV-4694 as a research tool and under the license agreements through which we have rights to MK-6240 and NAV-4694, and to further develop and commercialize MK-6240 and NAV-4694 as approved products, including the timing for any potential regulatory submissions for these investigational assets; (v) our ability to successfully integrate acquisitions, including of Life Molecular, subject to completion of our acquisition thereof, and Evergreen, including the potential for unforeseen expenses related to integration activities, the accuracy of our financial models, the potential for unforeseen liabilities within those businesses, the ability to integrate disparate information technology systems, retain key talent and create a merged corporate culture that successfully realizes the full potential of the combined organization; (vi) our ability to complete the transaction with SHINE on the proposed terms or on the anticipated timeline, or at all, including risks and uncertainties related to securing the necessary regulatory approvals and satisfaction of other closing conditions to consummate the transaction, unforeseen expenses related to the divestiture, and failure to realize the expected benefits of the transaction; (vii) our ability to obtain FDA approval for LNTH-2501, our investigational kit for the preparation of Gallium-68 DOTATOC, which may be used in conjunction with a PET scan to stage and localize gastroenteropancreatic neuroendocrine tumors in adults and children, and approval for PNT2003, and to be successful in the patent litigation associated with PNT2003; (viii) the cost, efforts and timing for clinical development, regulatory approval, adequate coding, coverage and payment and successful commercialization of our product candidates and new clinical applications and territories for our products, in each case, that we or our strategic partners may undertake; (ix) our ability to identify opportunities to collaborate with strategic partners and to acquire or in-license additional diagnostic and therapeutic product opportunities in oncology, neurology and other strategic areas and continue to grow and advance our pipeline of products; and (x) the risk and uncertainties discussed in our filings with the Securities and Exchange Commission (including those described in the Risk Factors section in our Annual Reports on Form 10-K and our Quarterly Reports on Form 10-Q).

- Tables Follow -

 
Lantheus Holdings, Inc.
Consolidated Statements of Operations
(in thousands, except per share data – unaudited)
   
  Three Months Ended
March 31,
   2025   2024 
Revenues $372,764  $369,975 
Cost of goods sold  135,064   128,129 
Gross profit  237,700   241,846 
Operating expenses    
Sales and marketing  42,503   45,546 
General and administrative  56,816   47,895 
Research and development  36,314   48,024 
Total operating expenses  135,633   141,465 
Gain on sale of assets     6,254 
Operating income  102,067   106,635 
Interest expense  4,804   4,859 
Investment in equity securities - unrealized loss (gain)  14,862   (60,704)
Other income  (14,128)  (8,788)
Income before income taxes  96,529   171,268 
Income tax expense  23,584   40,202 
Net income $72,945  $131,066 
Net income per common share:    
Basic $1.06  $1.91 
Diluted $1.02  $1.87 
Weighted-average common shares outstanding:    
Basic  68,675   68,757 
Diluted  71,461   70,095 
         


 
Lantheus Holdings, Inc.
Consolidated Revenues Analysis
(in thousands – unaudited)
 
  Three Months Ended
March 31,
   2025  2024 % Change
PYLARIFY $257,654 $258,870 (0.5)%
Other radiopharmaceutical oncology    384 (100.0)%
Total radiopharmaceutical oncology  257,654  259,254 (0.6)%
DEFINITY  79,211  76,564 3.5%
TechneLite  19,711  21,714 (9.2)%
Other precision diagnostics  5,441  5,932 (8.3)%
Total precision diagnostics  104,363  104,210 0.1%
Strategic partnerships and other revenue  10,747  6,511 65.1%
Total revenues $372,764 $369,975 0.8%
          


   
Lantheus Holdings, Inc.
Reconciliation of GAAP to Non-GAAP Financial Measures
(in thousands, except per share and percent data – unaudited)
   
  Three Months Ended
March 31,
   2025   2024 
Net income $72,945  $131,066 
Stock and incentive plan compensation  21,198   15,384 
Amortization of acquired intangible assets  8,016   9,932 
Campus consolidation costs  60   19 
Non-recurring fees  2,478    
Gain on sale of assets     (6,254)
Strategic collaboration and license costs  5,413   28,000 
Investment in equity securities - unrealized loss (gain)  14,862   (60,704)
Acquisition-related costs  4,751   788 
Other  (4,452)  789 
Income tax effect of non-GAAP adjustments(a)  (15,796)  (701)
Adjusted net income $109,475  $118,319 
Adjusted net income, as a percentage of revenues  29.4%  32.0%
         


   
  Three Months Ended
March 31,
   2025   2024 
Net income per share - diluted $1.02  $1.87 
Stock and incentive plan compensation  0.30   0.22 
Amortization of acquired intangible assets  0.11   0.14 
Campus consolidation costs      
Non-recurring fees  0.03    
Gain on sale of assets     (0.09)
Strategic collaboration and license costs  0.07   0.40 
Investment in equity securities - unrealized loss (gain)  0.21   (0.86)
Acquisition-related costs  0.07   0.01 
Other  (0.06)  0.01 
Income tax effect of non-GAAP adjustments(a)  (0.22)  (0.01)
Adjusted net income per share - diluted $1.53  $1.69 
Weighted-average common shares outstanding - diluted  71,461   70,095 


  
(a)The income tax effect of the adjustments between GAAP net income and adjusted net income (non-GAAP) takes into account the tax treatment and related tax rate that apply to each adjustment in the applicable tax jurisdiction.
  


   
Lantheus Holdings, Inc.
Reconciliation of GAAP to Non-GAAP Financial Measures (Continued)
(in thousands, except per share and percent data – unaudited)
   
  Three Months Ended
March 31,
   2025   2024 
Operating income $102,067  $106,635 
Stock and incentive plan compensation  21,198   15,384 
Amortization of acquired intangible assets  8,016   9,932 
Campus consolidation costs  60   19 
Non-recurring fees  2,478    
Gain on sale of assets     (6,254)
Strategic collaboration and license costs  5,413   28,000 
Acquisition-related costs  4,751   788 
Other  275   789 
Adjusted operating income $144,258  $155,293 
Adjusted operating income, as a percentage of revenues  38.7%  42.0%
         


  
Lantheus Holdings, Inc.
Reconciliation of Free Cash Flow
(in thousands – unaudited)
  
 Three Months Ended
March 31,
  2025   2024 
Net cash provided by operating activities$107,563  $127,238 
Capital expenditures (8,718)  (8,273)
Free cash flow$98,845  $118,965 
    
Net cash used in investing activities$(63,718) $(106,529)
Net cash used in financing activities$(18,219) $(16,845)
        


    
Lantheus Holdings, Inc.
Condensed Consolidated Balance Sheets
(in thousands – unaudited)
    
 March 31,
2025
 December 31,
2024
Assets   
Current assets   
Cash and cash equivalents$938,533  $912,814 
Accounts receivable, net 348,749   321,258 
Inventory 69,126   68,025 
Other current assets 67,372   24,536 
Total current assets 1,423,780   1,326,633 
Investment in equity securities 30,375   39,489 
Property, plant and equipment, net 180,783   176,798 
Intangibles, net 153,745   161,761 
Goodwill 61,189   61,189 
Deferred tax assets, net 168,885   170,233 
Other long-term assets 36,467   44,237 
Total assets$2,055,224  $1,980,340 
Liabilities and stockholders’ equity   
Current liabilities   
Current portion of long-term debt and other borrowings$747  $974 
Accounts payable 44,874   34,560 
Accrued expenses and other liabilities 202,381   204,992 
Total current liabilities 248,002   240,526 
Asset retirement obligations 18,740   23,344 
Long-term debt, net and other borrowings 566,098   565,279 
Other long-term liabilities 58,190   63,180 
Total liabilities 891,030   892,329 
Commitments and contingencies   
Stockholders’ equity   
Preferred stock ($0.01 par value, 25,000 shares authorized; no shares issued and outstanding)     
Common stock ($0.01 par value, 250,000 shares authorized; 71,607 and 70,905 shares issued as of March 31, 2025 and December 31, 2024, respectively) 716   709 
Additional paid-in capital 821,346   817,972 
Treasury Stock at cost - 2,455 shares as of March 31, 2025 and December 31, 2024 (175,000)  (175,000)
Retained earnings 518,890   445,945 
Accumulated other comprehensive loss (1,758)  (1,615)
Total stockholders’ equity 1,164,194   1,088,011 
Total liabilities and stockholders’ equity$2,055,224  $1,980,340 
        

Contacts:
Mark Kinarney
Vice President, Investor Relations
978-671-8842
ir@lantheus.com

Melissa Downs
Executive Director, External Communications
646-975-2533
media@lantheus.com


FAQ

What were Lantheus (LNTH) Q1 2025 earnings results?

Lantheus reported Q1 2025 revenue of $372.8M (+0.8% YoY), GAAP EPS of $1.02 (down from $1.87), and adjusted EPS of $1.53 (down from $1.69).

What major acquisitions is Lantheus (LNTH) making in 2025?

Lantheus completed the Evergreen Theragnostics acquisition in Q2 2025 and expects to close the Life Molecular Imaging acquisition in the coming weeks.

Why did Lantheus (LNTH) lower its 2025 earnings guidance?

Lantheus revised its FY2025 guidance with adjusted EPS now $6.60-$6.70 (down from $7.00-$7.20) and revenue of $1.550B-$1.585B, reflecting recent business developments and Q1 performance.

What is happening with Lantheus (LNTH) SPECT business?

Lantheus announced plans to sell its SPECT business to Illuminated Holdings (SHINE Technologies), including diagnostic agents and related operations, expected to close by end of 2025.

What is the status of Lantheus (LNTH) MK-6240 development?

MK-6240, Lantheus' tau imaging agent, met primary endpoints in two pivotal studies, with NDA submission planned for Q3 2025.
Lantheus Holding

NASDAQ:LNTH

LNTH Rankings

LNTH Latest News

LNTH Stock Data

7.13B
66.85M
2.74%
111.94%
9.26%
Drug Manufacturers - Specialty & Generic
In Vitro & in Vivo Diagnostic Substances
Link
United States
NORTH BILLERICA