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LANTHEUS HOLDINGS, INC.

(LNTH)
  Report
Delayed Nasdaq  -  04:00 2022-09-27 pm EDT
67.39 USD   +1.19%
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Lantheus : Q2 2022 Reconciliation of GAAP to Non-GAAP Financial Measures

08/04/2022 | 07:17am EDT

Lantheus Holdings, Inc.

Reconciliation of GAAP to Non-GAAP Financial Measures

(in thousands, except per share data - unaudited)

Three Months Ended

June 30, 2022

GAAP Adjustments Non-GAAP Adjusted

June 30, 2021

GAAP Adjustments Non-GAAP Adjusted

Revenues

$

223,723

$

223,723

$

101,064

$

101,064

Cost of goods sold (a)

85,694

(9,599)

76,095

54,976

(7,111)

47,865

Gross profit

138,029

9,599

147,628

46,088

7,111

53,199

Operating expenses

Sales and marketing (b)

27,492

(1,675)

25,817

17,631

(825)

16,806

General and administrative (c)

32,598

(12,759)

19,839

43,177

(28,640)

14,537

Research and development (d)

14,735

(1,370)

13,365

12,061

(599)

11,462

Total operating expenses

74,825

(15,804)

59,021

72,869

(30,064)

42,805

Operating income

63,204

25,403

88,607

(26,781)

37,175

10,394

Interest expense

1,469

-

1,469

1,937

-

1,937

Other income (e)

(310)

-

(310)

(182)

-

(182)

Income before income taxes

62,045

25,403

87,448

(28,536)

37,175

8,639

Income tax expense (f)

18,987

5,578

24,565

(1,879)

2,731

852

Net income

$

43,058

$

19,825

$

62,883

$

(26,657)

$

34,444

$

7,787

Net income per common share -

diluted

$

0.61

$

0.89

$

(0.39)

$

0.11

Weighted-average common

shares outstanding - diluted (g)

70,796

-

70,796

67,505

1200

68,705

Depreciation expense

$

3,326

-

$

3,326

$

3,163

-

$

3,163

Amortization expense

$

8,306

-

$

8,306

$

6,074

-

$

6,074

  1. Includes stock and incentive plan compensation, amortization of acquired intangible assets, ARO acceleration and other related costs, integration costs and other non-recurring charges.
  2. Includes stock and incentive plan compensation, integration costs and other non-recurring charges.
  3. Includes stock and incentive plan compensation, acquisition-related costs, contingent consideration fair value adjustments, non-recurring strategic initiatives, integration costs and other non-recurring charges.
  4. Includes stock and incentive plan compensation and other non-recurring charges.
  5. Includes amortization of fair value adjustments.
  6. The income tax effect of the adjustments between GAAP net income (loss) and non-GAAP adjusted net income takes into account the tax treatment and related tax rate that apply to each adjustment in the applicable tax jurisdiction.
  7. Diluted shares may differ for non-GAAP measures as compared to GAAP due to a GAAP net loss position.

Lantheus Holdings, Inc.

Reconciliation of GAAP to Non-GAAP Financial Measures (Continued)

(in thousands, except per share data - unaudited

Six Months Ended

June 30, 2022

June 30, 2021

GAAP

Adjustments

Non-GAAP

GAAP

Adjustments

Non-GAAP

Adjusted

Adjusted

Revenues

$

432,603

$

432,603

$

193,573

$

193,573

Cost of goods sold (a)

165,504

(20,426)

145,078

106,455

(12,573)

93,882

Gross profit

267,099

20,426

287,525

87,118

12,573

99,691

Operating expenses

Sales and marketing (b)

47,846

(2,688)

45,158

31,804

(1,467)

30,337

General and administrative (c)

70,186

(33,987)

36,199

59,315

(30,775)

28,540

Research and development (d)

26,938

(2,066)

24,872

22,421

(1,024)

21,397

Total operating expenses

144,970

(38,741)

106,229

113,540

(33,266)

80,274

Gain on sale of assets

-

-

-

15,263

(15,263)

-

Operating (loss) income

122,129

59,167

181,296

(11,159)

30,576

19,417

Interest expense

2,978

-

2,978

4,655

-

4,655

Gain on extinguishment of debt

-

-

-

(889)

889

-

Other loss (income) (e)

(795)

-

(795)

(731)

307

(424)

(Loss) income before income

119,946

59,167

179,113

(14,194)

29,380

15,186

taxes

(f)

33,926

14,474

48,400

3,455

648

4,103

Income tax (benefit) expense

Net (loss) income

$

86,020

$

44,693

$

130,713

$

(17,649)

$

28,732

$

11,083

Net (loss) income per common

share - diluted

$

1.22

$

1.86

$

(0.26)

$

0.16

Weighted-average common

(g)

shares outstanding - diluted

70,412

-

70,412

67,300

981

68,281

Depreciation expense

$

6,417

-

$

6,417

$

6,209

-

$

6,209

Amortization expense

$

16,612

-

$

16,612

$

10,759

-

$

10,759

  1. Includes stock and incentive plan compensation, amortization of acquired intangible assets, integration costs including a contract termination, impairment of long-lived assets, ARO acceleration and other non-recurring charges.
  2. Includes stock and incentive plan compensation, integration costs and other non-recurring charges.
  3. Includes stock and incentive plan compensation, acquisition-related costs, integration costs, contingent consideration fair value adjustments, impairment of long-lived assets and other non-recurring charges.
  4. Includes stock and incentive plan compensation, impairment of long-lived assets and other non-recurring charges.
  5. Includes amortization of fair value adjustments.
  6. The income tax effect of the adjustments between GAAP net loss and non-GAAP adjusted net income takes into account the tax treatment and related tax rate that apply to each adjustment in the applicable tax jurisdiction.
  7. Diluted shares may differ for non-GAAP measures as compared to GAAP due to a GAAP net loss position.

Lantheus Holdings, Inc.

Reconciliation of GAAP to Non-GAAP Financial Measures

(in thousands, except per share data - unaudited)

Three Months Ended

March 31, 2022

June 30, 2022

GAAP

Adjustments

Non-GAAP

GAAP

Adjustments

Non-GAAP

Adjusted

Adjusted

Revenues

$

208,880

$

208,880

$

223,723

$

223,723

Cost of goods sold (a)

79,810

(10,827)

68,983

85,694

(9,599)

76,095

Gross profit

129,070

10,827

139,897

138,029

9,599

147,628

Operating expenses

Sales and marketing (b)

20,354

(1,013)

19,341

27,492

(1,675)

25,817

General and administrative (c)

37,588

(21,228)

16,360

32,598

(12,759)

19,839

Research and development (d)

12,203

(696)

11,507

14,735

(1,370)

13,365

Total operating expenses

70,145

(22,937)

47,208

74,825

(15,804)

59,021

Operating income

58,925

33,764

92,689

63,204

25,403

88,607

Interest expense

1,509

-

1,509

1,469

-

1,469

Other income

(485)

-

(485)

(310)

-

(310)

Income before income taxes

57,901

33,764

91,665

62,045

25,403

87,448

Income tax expense (e)

14,939

8,896

23,835

18,987

5,578

24,565

Net income

$

42,962

$

24,868

$

67,830

$

43,058

$

19,825

$

62,883

Net income per common share -

diluted

$

0.61

$

0.97

$

0.61

$

0.89

Weighted-average common

shares outstanding - diluted (f)

70,051

-

70,051

70,796

-

70,796

Depreciation expense

$

3,091

-

$

3,091

$

3,326

-

$

3,326

Amortization expense

$

8,306

-

$

8,306

$

8,306

-

$

8,306

  1. Includes stock and incentive plan compensation, amortization of acquired intangible assets, ARO acceleration and other related costs and other non-recurring charges.
  2. Includes stock and incentive plan compensation.
  3. Includes stock and incentive plan compensation, acquisition-related costs, contingent consideration fair value adjustments, non-recurring strategic initiatives and other non- recurring charges.
  4. Includes stock and incentive plan compensation and other non-recurring charges.
  5. The income tax effect of the adjustments between GAAP net income (loss) and non-GAAP adjusted net income takes into account the tax treatment and related tax rate that apply to each adjustment in the applicable tax jurisdiction.
  6. Diluted shares may differ for non-GAAP measures as compared to GAAP due to a GAAP net loss position.

Lantheus Holdings, Inc.

Reconciliation of Non-GAAP Financial Measures

(in thousands - unaudited)

As shown below, the Company provides the components of Management EBITDA. Management EBITDA consists of; adjusted net income plus the remainder of depreciation, interest expense, net and income tax expense, net of indemnification income.

The below table presents Management EBITDA for the three and six months ended June 30, 2022 and 2021, respectively:

Three Months Ended

Six Months Ended

June 30,

June 30,

2022

2021

2022

2021

Adjusted net income

$

62,883

$

7,787

$

130,713

$

11,083

Depreciation expense

3,326

3,163

6,417

6,209

Interest expense, net

1,430

1,926

2,932

4,627

Income tax expense(a)

24,169

694

47,607

3,372

Management EBITDA

$

91,808

$

13,570

$

187,669

$

25,291

  1. Represents income tax expense, less tax indemnification income.

Disclaimer

Lantheus Holdings Inc. published this content on 04 August 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 04 August 2022 11:14:44 UTC.


© Publicnow 2022
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Financials (USD)
Sales 2022 899 M - -
Net income 2022 187 M - -
Net Debt 2022 - - -
P/E ratio 2022 28,0x
Yield 2022 -
Capitalization 4 633 M 4 633 M -
Capi. / Sales 2022 5,15x
Capi. / Sales 2023 4,60x
Nbr of Employees 612
Free-Float 97,6%
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Technical analysis trends LANTHEUS HOLDINGS, INC.
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Income Statement Evolution
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Mean consensus BUY
Number of Analysts 5
Last Close Price 67,39 $
Average target price 103,20 $
Spread / Average Target 53,1%
EPS Revisions
Managers and Directors
Mary Anne Heino Chief Commercial Officer
Robert J. Marshall Chief Financial Officer & Treasurer
Brian A. Markison Director
Simon Robinson Senior VP-Research & Pharmaceutical Development
Bela S. Denes Vice President-Medical Affairs
Sector and Competitors