1. Endo's Q1 2025 results show a 6% revenue decrease compared to Q1 2024. 2. Branded Pharmaceuticals revenue grew by 4%, driven by XIAFLEX® sales. 3. Net loss decreased from $154M to $129M, reflecting lower expenses. 4. Endo reaffirmed 2025 earnings guidance amidst ongoing corporate transformations. 5. Ongoing transactions could reshape competitive positioning in pharmaceuticals.
Endo's mixed Q1 results reflect challenges and adjustments but maintain guidance stability.
The reaffirmed guidance and strategic transactions suggest future growth potential despite current challenges.
The outcomes of the transactions with Mallinckrodt and divestitures will take time to influence performance.
Endo, Inc. ("Endo" or the "Company") (OTCQX: NDOI) today reported financial results for the first quarter ended March 31, 2025.
"As we advance Endo's transformation with two major transactions announced in March, the Company remains focused on executing our growth drivers, as evidenced by strong XIAFLEX® performance in our Branded Pharmaceuticals business and the advancement of our Sterile Injectables pipeline," said Scott Hirsch, Endo's Interim CEO. "As a result of our first-quarter results, which met internal expectations across all segments, we are reaffirming our full-year 2025 earnings guidance."
| Successor (a) | Predecessor (a) | Three Months Ended March 31, 2025 | Three Months Ended March 31, 2024 | % Change 2025 vs. 2024 |
|---|---|---|---|---|
| Branded Pharmaceuticals | $ 209,491 | $ 200,796 | 4 % | |
| Sterile Injectables | $ 71,271 | $ 98,234 | (27) % | |
| Generic Pharmaceuticals | $ 99,084 | $ 103,317 | (4) % | |
| International Pharmaceuticals | $ 12,987 | $ 17,160 | (24) % | |
| Total Revenues, Net | $ 392,833 | $ 419,507 | (6) % | |
| Net Loss | $ (128,630) | $ (154,230) | (17) % | |
| Adjusted Net Income (b) | $ 23,780 | $ 131,415 | (82) % | |
| Adjusted EBITDA (b) | $ 99,049 | $ 146,302 | (32) % |
Important Notes:
(a) Endo acquired substantially all of the assets of Endo International plc ("EIP") on April 23, 2024, as contemplated by EIP's plan of reorganization.
(b) The information presented in the table above includes non-GAAP financial measures such as Adjusted Net Income and Adjusted EBITDA. Please refer to the "Supplemental Financial Information" section for reconciliations of certain non-GAAP financial measures to the most directly comparable GAAP financial measures.
Total revenues in first-quarter 2025 were $393 million, a decrease of 6% compared to $420 million in first-quarter 2024. This change was primarily attributable to competitive pressure across the Sterile Injectables and Generic Pharmaceuticals segments, partially offset by Branded Pharmaceuticals revenue growth.
As of March 31, 2025, Endo had $370 million in unrestricted cash and cash equivalents compared to $387 million as of December 31, 2024. This change reflects the use of cash for interest expense, investment in working capital, taxes and expenses related to the previously announced corporate transactions.
Based on first-quarter 2025 results, Endo is reaffirming its previously provided financial guidance for the full year ending December 31, 2025.
Endo will host a conference call to discuss this press release today, May 7, 2025, at 8:30 a.m. ET.