Shares of Emergent BioSolutions (EBS) are down 12.74% in premarket trading Tuesday following the company's financial results for the fourth quarter and full year ended December 31, 2024.
For the fourth quarter of 2024, Emergent BioSolutions reported total revenues of $194.7 million, a decrease from $276.6 million in the fourth quarter of 2023, primarily due to a reduction in product sales and contract revenues.
For the full year 2024, Emergent BioSolutions reported total revenues of $1.04 billion, down from $1.19 billion in 2023.
The company's net loss for the fourth quarter of 2024 was $31.3 million, or $0.58 per share, compared to a net loss of $49.5 million, or $0.95 per share, in the same period last year.
Emergent BioSolutions reported a net loss of $190.6 million, or $3.60 per share, for the full year of 2024, a significant improvement from a net loss of $760.5 million, or $14.85 per share, in 2023.
The adjusted EBITDA for 2024 was $183.1 million, a significant turnaround from an adjusted EBITDA loss of $22.3 million in 2023. The company's improved financial performance was driven by strategic actions, including asset divestitures and debt reduction.
Looking ahead to 2025, Emergent BioSolutions expects revenue in the range of $750 million to $850 million. The total revenue for the full year of 2024 was $1.04 billion.
Emergent BioSolutions has guided to Adjusted EBITDA in the range of $150 million to $200 million and expects improved gross margins.
Adjusted EBITDA for the full year 2024 was $183.1 million.
As of December 31, 2024, Emergent had $350 million in cash, cash equivalents, and restricted cash, and $950 million in outstanding debt.
EBS closed Monday's (Mar.03 2025) trading at $6.83, up by 8.69 percent. In premarket trading Tuesday, the stock is down by 12.74 percent at $5.96 on the New York Stock Exchange.
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