[8-K] Lantheus Holdings, Inc. Reports Material Event
Rhea-AI Filing Summary
Lantheus Holdings reported fourth-quarter 2025 revenue of $406.8 million, up 4.0%, and full-year revenue of $1.54 billion. GAAP diluted EPS was $0.82 for the quarter and $3.41 for 2025, while adjusted diluted EPS reached $1.67 in Q4 and $6.08 for the year.
PYLARIFY sales were $240.2 million in the quarter, down 9.7%, while DEFINITY slipped 1.0% to $85.3 million and Neuraceq contributed $31.0 million. The company repurchased $100 million of stock in Q4 and about $300 million for the year, completed acquisitions of Life Molecular Imaging and Evergreen Theragnostics, and exited its legacy SPECT business. Lantheus is sharpening its focus on innovative PET radiodiagnostics and issued 2026 guidance of $1.4–$1.45 billion in revenue and adjusted diluted EPS of $5.00–$5.25.
Positive
- None.
Negative
- None.
Insights
Modest growth, portfolio shift to PET diagnostics, and sizable reinvestment.
Lantheus delivered Q4 2025 revenue of
Growth was mixed by product: PYLARIFY quarterly sales fell
Cash declined to
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
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(Former Name or Former Address, if Changed Since Last Report)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
Securities registered pursuant to Section 12(b) of the Act:
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Trading |
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Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§ 230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§ 240.12b-2 of this chapter).
Emerging growth company
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐
Item 2.02 Results of Operations and Financial Condition.
On February 26, 2026, Lantheus Holdings, Inc. (the “Company”) announced via press release its financial results as of and for the three and twelve months ended December 31, 2025. A copy of that press release is being furnished as Exhibit 99.1 and is hereby incorporated by reference.
The information furnished pursuant to this Item 2.02, including Exhibit 99.1, shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), or otherwise subject to the liabilities under that Section and shall not be deemed to be incorporated by reference into any filing of the Company under the Securities Act of 1933, as amended (the “Securities Act”), or the Exchange Act, except as shall be expressly set forth by specific reference in such filing.
Item 9.01 Financial Statements and Exhibits.
(d) Exhibits
Exhibit No. |
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Description |
99.1* |
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Press release of Lantheus Holdings, Inc. dated February 26, 2026, entitled “Lantheus Reports Fourth Quarter and Full Year 2025 Financial Results and Provides Business Update” |
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104 |
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Cover Page Interactive Data File (embedded within the Inline XBRL document) |
* Exhibits 99.1 attached hereto are being furnished and shall not be deemed “filed” for purposes of Section 18 of the Exchange Act, as amended, or otherwise subject to the liabilities of that section, nor shall such information be deemed incorporated by reference in any filing under the Securities Act or the Exchange Act, except as shall be expressly set forth by specific reference in such filing.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
LANTHEUS HOLDINGS, INC. |
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By: |
/s/ Daniel M. Niedzwiecki |
Name: |
Daniel M. Niedzwiecki |
Title: |
Chief Administrative Officer and General Counsel |
Date: February 26, 2026
Exhibit 99.1
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Lantheus Reports Fourth Quarter and Full Year 2025 Financial Results and Provides Business Update
BEDFORD, Mass., February 26, 2026 (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 fourth quarter and full year ended December 31, 2025.
“In 2025 we accomplished the important goal of maintaining market leadership with PYLARIFY. In addition, we expanded both our commercial portfolio of radiopharmaceuticals with Neuraceq as well as our pipeline through the acquisitions of Life Molecular Imaging and Evergreen Theragnostics,” said Mary Anne Heino, Chief Executive Officer of Lantheus. “In 2026, we are aligning our strategic focus on PET radiodiagnostics, with clear priorities around execution and investment. With up to four FDA approvals this year, we will ensure fit-for-purpose launch readiness for our new products, selectively advance late-stage pipeline assets and allocate capital thoughtfully to support sustainable growth and a compelling long-term outlook.”
Summary Financial Results
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Three Months Ended |
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(in millions, except per share data - unaudited) |
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2025 |
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2024 |
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% Change |
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Worldwide revenue |
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$ |
406.8 |
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$ |
391.1 |
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4.0 |
% |
GAAP net income (loss) |
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$ |
54.1 |
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$ |
(11.8 |
) |
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558.8 |
% |
GAAP fully diluted earnings (loss) per share |
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$ |
0.82 |
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$ |
(0.17 |
) |
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578.8 |
% |
Adjusted net income (non-GAAP) |
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$ |
110.7 |
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$ |
115.4 |
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(4.1 |
%) |
Adjusted fully diluted earnings per share (non-GAAP) |
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$ |
1.67 |
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$ |
1.59 |
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4.7 |
% |
Fourth Quarter 2025
Page 1 of 11
Balance Sheet
Recent Business Highlights
Full Year 2026 Financial Guidance
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Guidance Issued February 26, 2026 |
FY 2026 Revenue |
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$1.4 billion - $1.45 billion |
FY 2026 Adjusted fully diluted EPS |
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$5.00 - $5.25 |
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 Thursday, February 26, 2026, 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.
Page 2 of 11
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
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, Germany, Switzerland, Sweden and the United Kingdom, 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 fully diluted net income per share; adjusted operating income, 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.
Page 3 of 11
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. These 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 2026 and our plans to successfully execute on the commercialization of marketed products, ensure launch readiness for new products, advance a focused late-stage pipeline, and allocate capital thoughtfully, 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, penetration and reimbursement for our established commercial products, particularly PYLARIFY, DEFINITY and Neuraceq, in a competitive environment, and our ability to clinically and commercially differentiate our products;(ii) our ability to obtain U.S. Food and Drug Administration (“FDA”) approval for our new formulation of our F-18 prostate-specific membrane antigen (“PSMA”) positron emission tomography (“PET”) imaging agent, to complete the technology transfer across our PET manufacturing facilities (“PMF”) network for such new formulation, to obtain FDA approval for each PET manufacturing facility to manufacture the new formulation, to obtain adequate coding, coverage and payment, including transitional pass-through payment status (“TPT Status”), for such new formulation and to have customers adopt such new formulation; (iii) the availability of raw materials, key components, equipment, manufacturing timeslots, either used in the production of our products and product candidates, or by customers of our products and product candidates, including, but not limited to PET scanners for PYLARIFY, Neuraceq, MK-6240, LNTH-2501 and NAV-4694; (iv) our ability to have third parties manufacture our products and product candidates and our ability to manufacture DEFINITY in our in-house manufacturing facility, in amounts and at the times needed; (iv) (v) our ability to satisfy our obligations under our existing clinical development partnerships using Neuraceq, MK-6240 or NAV-4694 as a research tool and under the license agreements through which we have rights to those assets, and to further develop and commercialize MK-6240 and NAV-4694 as approved products; (vi) our ability to continue to successfully integrate acquisitions, including of Life Molecular Imaging Limited (“Life Molecular”) and Evergreen Theragnostics, Inc. (“Evergreen”), which could be impacted by 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; (vii) our ability to obtain FDA approval for LNTH-2501, our investigational kit for the preparation of Gallium-68 edotreotide injection, which has been studied for use in conjunction with a PET scan to stage and localize neuroendocrine tumors in adult and pediatric patients, and approval for PNT2003, and to be successful in the patent litigation associated with PNT2003; (viii) the cost, efforts and timing for clinical development, manufacturing, 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, including those investigational assets for which FDA approval is anticipated this year;(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;(x) the effect that changes to management, including the recent turnover in our leadership and senior management team, could have on our business; and (xi) 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 -
Page 4 of 11
Lantheus Holdings, Inc.
Consolidated Statements of Operations
(in thousands, except per share data – unaudited)
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Three Months Ended |
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Twelve Months Ended |
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2025 |
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2024 |
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2025 |
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2024 |
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Revenues |
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$ |
406,786 |
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$ |
391,110 |
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$ |
1,541,609 |
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$ |
1,533,910 |
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Cost of goods sold |
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165,911 |
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142,565 |
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599,657 |
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|
|
545,619 |
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Gross profit |
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240,875 |
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|
248,545 |
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941,952 |
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988,291 |
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Operating expenses |
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Sales and marketing |
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46,319 |
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43,640 |
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|
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178,691 |
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|
|
177,940 |
|
General and administrative |
|
|
69,892 |
|
|
|
57,869 |
|
|
|
275,121 |
|
|
|
193,689 |
|
Research and development |
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|
47,480 |
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|
|
35,325 |
|
|
|
177,308 |
|
|
|
168,098 |
|
Total operating expenses |
|
|
163,691 |
|
|
|
136,834 |
|
|
|
631,120 |
|
|
|
539,727 |
|
Gain on sale of assets |
|
|
— |
|
|
|
2,161 |
|
|
|
— |
|
|
|
8,415 |
|
Operating income |
|
|
77,184 |
|
|
|
113,872 |
|
|
|
310,832 |
|
|
|
456,979 |
|
Interest expense |
|
|
5,078 |
|
|
|
5,045 |
|
|
|
19,749 |
|
|
|
19,669 |
|
Investment in equity securities - unrealized loss |
|
|
9,488 |
|
|
|
119,056 |
|
|
|
8,617 |
|
|
|
43,564 |
|
Other income |
|
|
(7,747 |
) |
|
|
(9,446 |
) |
|
|
(31,326 |
) |
|
|
(37,231 |
) |
Income (loss) before income taxes |
|
|
70,365 |
|
|
|
(783 |
) |
|
|
313,792 |
|
|
|
430,977 |
|
Income tax expense |
|
|
16,277 |
|
|
|
11,007 |
|
|
|
80,233 |
|
|
|
118,535 |
|
Net income (loss) |
|
$ |
54,088 |
|
|
$ |
(11,790 |
) |
|
$ |
233,559 |
|
|
$ |
312,442 |
|
Net income (loss) per common share: |
|
|
|
|
|
|
|
|
|
|
|
|
||||
Basic |
|
$ |
0.82 |
|
|
$ |
(0.17 |
) |
|
$ |
3.46 |
|
|
$ |
4.52 |
|
Diluted |
|
$ |
0.82 |
|
|
$ |
(0.17 |
) |
|
$ |
3.41 |
|
|
$ |
4.36 |
|
Weighted average common shares outstanding: |
|
|
|
|
|
|
|
|
|
|
|
|
||||
Basic |
|
|
65,582 |
|
|
|
69,217 |
|
|
|
67,489 |
|
|
|
69,199 |
|
Diluted |
|
|
66,315 |
|
|
|
69,217 |
|
|
|
68,443 |
|
|
|
71,651 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||
Page 5 of 11
Lantheus Holdings, Inc.
Consolidated Revenues Analysis
(in thousands, except percent data – unaudited)
|
|
Three Months Ended |
|
|
Twelve Months Ended |
|
||||||||||||||||||||||||||
|
|
December 31, |
|
|
December 31, |
|
||||||||||||||||||||||||||
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|
2025 |
|
|
2024 |
|
|
Change $ |
|
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Change % |
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2025 |
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|
2024 |
|
|
Change $ |
|
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Change % |
|
||||||||
PYLARIFY |
|
$ |
240,204 |
|
|
$ |
265,953 |
|
|
$ |
(25,749 |
) |
|
|
(9.7 |
)% |
|
$ |
989,116 |
|
|
$ |
1,057,834 |
|
|
$ |
(68,718 |
) |
|
|
(6.5 |
)% |
Other radiopharmaceutical oncology |
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
% |
|
|
— |
|
|
|
384 |
|
|
|
(384 |
) |
|
|
(100.0 |
)% |
Total radiopharmaceutical oncology |
|
|
240,204 |
|
|
|
265,953 |
|
|
|
(25,749 |
) |
|
|
(9.7 |
)% |
|
|
989,116 |
|
|
|
1,058,218 |
|
|
|
(69,102 |
) |
|
|
(6.5 |
)% |
DEFINITY |
|
|
85,313 |
|
|
|
86,163 |
|
|
|
(850 |
) |
|
|
(1.0 |
)% |
|
|
330,248 |
|
|
|
317,792 |
|
|
|
12,456 |
|
|
|
3.9 |
% |
Neuraceq |
|
|
31,005 |
|
|
|
— |
|
|
|
31,005 |
|
|
|
100.0 |
% |
|
|
51,447 |
|
|
|
— |
|
|
|
51,447 |
|
|
|
100.0 |
% |
TechneLite |
|
|
20,983 |
|
|
|
25,107 |
|
|
|
(4,124 |
) |
|
|
(16.4 |
)% |
|
|
86,803 |
|
|
|
95,487 |
|
|
|
(8,684 |
) |
|
|
(9.1 |
)% |
Other precision diagnostics |
|
|
5,944 |
|
|
|
6,192 |
|
|
|
(248 |
) |
|
|
(4.0 |
)% |
|
|
24,616 |
|
|
|
24,231 |
|
|
|
385 |
|
|
|
1.6 |
% |
Total precision diagnostics |
|
|
143,245 |
|
|
|
117,462 |
|
|
|
25,783 |
|
|
|
22.0 |
% |
|
|
493,114 |
|
|
|
437,510 |
|
|
|
55,604 |
|
|
|
12.7 |
% |
Strategic partnerships and other revenue |
|
|
23,337 |
|
|
|
7,695 |
|
|
|
15,642 |
|
|
|
203.3 |
% |
|
|
59,379 |
|
|
|
38,182 |
|
|
|
21,197 |
|
|
|
55.5 |
% |
Total revenues |
|
$ |
406,786 |
|
|
$ |
391,110 |
|
|
$ |
15,676 |
|
|
|
4.0 |
% |
|
$ |
1,541,609 |
|
|
$ |
1,533,910 |
|
|
$ |
7,699 |
|
|
|
0.5 |
% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||
Page 6 of 11
Lantheus Holdings, Inc.
Reconciliation of GAAP to Non-GAAP Financial Measures
(in thousands, except per share and percent data – unaudited)
|
|
Three Months Ended |
|
|
Twelve Months Ended |
|
||||||||||
|
|
2025 |
|
|
2024 |
|
|
2025 |
|
|
2024 |
|
||||
Net income (loss) |
|
$ |
54,088 |
|
|
$ |
(11,790 |
) |
|
$ |
233,559 |
|
|
$ |
312,442 |
|
Stock and incentive plan compensation |
|
|
17,543 |
|
|
|
22,164 |
|
|
|
85,563 |
|
|
|
76,393 |
|
Amortization of acquired intangible assets |
|
|
16,485 |
|
|
|
11,846 |
|
|
|
47,111 |
|
|
|
43,807 |
|
Campus consolidation costs |
|
|
16 |
|
|
|
35 |
|
|
|
(130 |
) |
|
|
72 |
|
Contingent consideration fair value adjustments |
|
|
397 |
|
|
|
(1,294 |
) |
|
|
1,379 |
|
|
|
(2,699 |
) |
Non-recurring fees |
|
|
— |
|
|
|
6,723 |
|
|
|
2,633 |
|
|
|
6,723 |
|
Gain on sale of assets |
|
|
— |
|
|
|
(2,161 |
) |
|
|
— |
|
|
|
(8,415 |
) |
Strategic collaboration and license costs |
|
|
5,539 |
|
|
|
(8 |
) |
|
|
21,812 |
|
|
|
66,213 |
|
Investment in equity securities - unrealized loss (a) |
|
|
9,511 |
|
|
|
119,056 |
|
|
|
8,726 |
|
|
|
43,564 |
|
Acquisition, integration and divestiture-related costs |
|
|
21,703 |
|
|
|
207 |
|
|
|
84,348 |
|
|
|
1,553 |
|
Other |
|
|
(5,000 |
) |
|
|
447 |
|
|
|
(8,024 |
) |
|
|
2,720 |
|
Income tax effect of non-GAAP adjustments(b) |
|
|
(9,613 |
) |
|
|
(29,794 |
) |
|
|
(60,503 |
) |
|
|
(57,701 |
) |
Adjusted net income |
|
$ |
110,669 |
|
|
$ |
115,431 |
|
|
$ |
416,474 |
|
|
$ |
484,672 |
|
Adjusted net income, as a percentage of revenues |
|
|
27.2 |
% |
|
|
29.5 |
% |
|
|
27.0 |
% |
|
|
31.6 |
% |
|
|
|
|
|
|
|
|
|
|
|
|
|
||||
|
|
Three Months Ended |
|
|
Twelve Months Ended |
|
||||||||||
|
|
2025 |
|
|
2024 |
|
|
2025 |
|
|
2024 |
|
||||
Net income (loss) per share - diluted |
|
$ |
0.82 |
|
|
$ |
(0.17 |
) |
|
$ |
3.41 |
|
|
$ |
4.36 |
|
Stock and incentive plan compensation |
|
|
0.26 |
|
|
|
0.31 |
|
|
|
1.25 |
|
|
|
1.07 |
|
Amortization of acquired intangible assets |
|
|
0.25 |
|
|
|
0.16 |
|
|
|
0.69 |
|
|
|
0.61 |
|
Campus consolidation costs |
|
|
0.00 |
|
|
|
0.00 |
|
|
|
(0.00 |
) |
|
|
0.00 |
|
Contingent consideration fair value adjustments |
|
|
0.01 |
|
|
|
(0.02 |
) |
|
|
0.02 |
|
|
|
(0.04 |
) |
Non-recurring fees |
|
|
— |
|
|
|
0.09 |
|
|
|
0.04 |
|
|
|
0.09 |
|
Gain on sale of assets |
|
|
— |
|
|
|
(0.03 |
) |
|
|
— |
|
|
|
(0.12 |
) |
Strategic collaboration and license costs |
|
|
0.08 |
|
|
|
(0.00 |
) |
|
|
0.32 |
|
|
|
0.92 |
|
Investment in equity securities - unrealized loss (a) |
|
|
0.14 |
|
|
|
1.65 |
|
|
|
0.13 |
|
|
|
0.61 |
|
Acquisition, integration and divestiture-related costs |
|
|
0.33 |
|
|
|
0.00 |
|
|
|
1.23 |
|
|
|
0.02 |
|
Other |
|
|
(0.08 |
) |
|
|
0.01 |
|
|
|
(0.12 |
) |
|
|
0.04 |
|
Income tax effect of non-GAAP adjustments(b) |
|
|
(0.14 |
) |
|
|
(0.41 |
) |
|
|
(0.88 |
) |
|
|
(0.80 |
) |
Adjusted net income per share - diluted(c) |
|
$ |
1.67 |
|
|
$ |
1.59 |
|
|
$ |
6.08 |
|
|
$ |
6.76 |
|
Weighted-average common shares outstanding - diluted |
|
|
66,315 |
|
|
|
72,451 |
|
|
|
68,443 |
|
|
|
71,651 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||
Page 7 of 11
Lantheus Holdings, Inc.
Reconciliation of GAAP to Non-GAAP Financial Measures (Continued)
(in thousands, except per share and percent data – unaudited)
|
|
Three Months Ended |
|
|
Twelve Months Ended |
|
||||||||||
|
|
2025 |
|
|
2024 |
|
|
2025 |
|
|
2024 |
|
||||
Operating income |
|
$ |
77,184 |
|
|
$ |
113,872 |
|
|
$ |
310,832 |
|
|
$ |
456,979 |
|
Stock and incentive plan compensation |
|
|
17,543 |
|
|
|
22,164 |
|
|
|
85,563 |
|
|
|
76,393 |
|
Amortization of acquired intangible assets |
|
|
16,485 |
|
|
|
11,846 |
|
|
|
47,111 |
|
|
|
43,807 |
|
Campus consolidation costs |
|
|
16 |
|
|
|
35 |
|
|
|
(130 |
) |
|
|
72 |
|
Contingent consideration fair value adjustments |
|
|
397 |
|
|
|
(1,294 |
) |
|
|
1,379 |
|
|
|
(2,699 |
) |
Non-recurring fees |
|
|
— |
|
|
|
6,723 |
|
|
|
2,633 |
|
|
|
6,723 |
|
Gain on sale of assets |
|
|
— |
|
|
|
(2,161 |
) |
|
|
— |
|
|
|
(8,415 |
) |
Strategic collaboration and license costs |
|
|
5,539 |
|
|
|
(8 |
) |
|
|
21,812 |
|
|
|
66,213 |
|
Acquisition, integration and divestiture-related costs |
|
|
21,703 |
|
|
|
207 |
|
|
|
84,348 |
|
|
|
1,553 |
|
Other |
|
|
— |
|
|
|
447 |
|
|
|
1,703 |
|
|
|
2,720 |
|
Adjusted operating income |
|
$ |
138,867 |
|
|
$ |
151,831 |
|
|
$ |
555,251 |
|
|
$ |
643,346 |
|
Adjusted operating income, as a percentage of revenues |
|
|
34.1 |
% |
|
|
38.8 |
% |
|
|
36.0 |
% |
|
|
41.9 |
% |
|
|
|
|
|
|
|
|
|
|
|
|
|
||||
Page 8 of 11
Lantheus Holdings, Inc.
Reconciliation of Free Cash Flow
(in thousands – unaudited)
|
|
Three Months Ended |
|
|
Twelve Months Ended |
|
||||||||||
|
|
2025 |
|
|
2024 |
|
|
2025 |
|
|
2024 |
|
||||
Net cash provided by operating activities |
|
$ |
90,178 |
|
|
$ |
157,730 |
|
|
$ |
390,141 |
|
|
$ |
544,750 |
|
Capital expenditures |
|
|
(8,788 |
) |
|
|
(16,369 |
) |
|
|
(36,089 |
) |
|
|
(51,625 |
) |
Free cash flow |
|
$ |
81,390 |
|
|
$ |
141,361 |
|
|
$ |
354,052 |
|
|
$ |
493,125 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||
Net cash used in investing activities |
|
$ |
(11,510 |
) |
|
$ |
(6,602 |
) |
|
$ |
(627,168 |
) |
|
$ |
(226,015 |
) |
Net cash used in financing activities |
|
$ |
(100,786 |
) |
|
$ |
(103,659 |
) |
|
$ |
(316,584 |
) |
|
$ |
(118,536 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
||||
Page 9 of 11
Lantheus Holdings, Inc.
Condensed Consolidated Balance Sheets
(in thousands – unaudited)
|
|
December 31, |
|
|
December 31, |
|
||
|
|
2025 |
|
|
2024 |
|
||
Assets |
|
|
|
|
|
|
||
Current assets: |
|
|
|
|
|
|
||
Cash and cash equivalents |
|
$ |
359,121 |
|
|
$ |
912,814 |
|
Accounts receivable, net |
|
|
358,640 |
|
|
|
321,258 |
|
Inventory, net |
|
|
64,674 |
|
|
|
68,025 |
|
Income tax receivable |
|
|
15,387 |
|
|
|
8,177 |
|
Other current assets |
|
|
21,400 |
|
|
|
16,359 |
|
Assets held for sale |
|
|
80,742 |
|
|
|
— |
|
Total current assets |
|
|
899,964 |
|
|
|
1,326,633 |
|
Investment in equity securities |
|
|
42,213 |
|
|
|
39,489 |
|
Property, plant and equipment, net |
|
|
163,686 |
|
|
|
176,798 |
|
Intangibles, net |
|
|
722,779 |
|
|
|
161,761 |
|
Goodwill |
|
|
239,517 |
|
|
|
61,189 |
|
Deferred tax assets, net |
|
|
109,196 |
|
|
|
170,233 |
|
Other long-term assets |
|
|
50,044 |
|
|
|
44,237 |
|
Total assets |
|
$ |
2,227,399 |
|
|
$ |
1,980,340 |
|
Liabilities and Stockholders’ Equity |
|
|
|
|
|
|
||
Current liabilities: |
|
|
|
|
|
|
||
Current portion of long-term debt and other borrowings |
|
$ |
738 |
|
|
$ |
974 |
|
Accounts payable |
|
|
42,906 |
|
|
|
34,560 |
|
Accrued expenses and other current liabilities |
|
|
267,307 |
|
|
|
204,992 |
|
Liabilities held for sale |
|
|
22,468 |
|
|
|
— |
|
Total current liabilities |
|
|
333,419 |
|
|
|
240,526 |
|
Asset retirement obligations |
|
|
138 |
|
|
|
23,344 |
|
Long-term debt and other borrowings, net of current portion |
|
|
568,678 |
|
|
|
565,279 |
|
Long-term deferred tax liabilities |
|
|
54,246 |
|
|
|
— |
|
Long-term contingent consideration liabilities |
|
|
73,255 |
|
|
|
— |
|
Other long-term liabilities |
|
|
107,866 |
|
|
|
63,180 |
|
Total liabilities |
|
|
1,137,602 |
|
|
|
892,329 |
|
Total stockholders’ equity |
|
|
1,089,797 |
|
|
|
1,088,011 |
|
Total liabilities and stockholders’ equity |
|
$ |
2,227,399 |
|
|
$ |
1,980,340 |
|
|
|
|
|
|
|
|
||
Page 10 of 11
###
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
Page 11 of 11
Filing Exhibits & Attachments
2 documentsPress Releases
