Knight Therapeutics ( (KHTRF) ) has released its Q4 earnings. Here is a breakdown of the information Knight Therapeutics presented to its investors.
Knight Therapeutics Inc., headquartered in Montreal, Canada, is a specialty pharmaceutical company focused on acquiring or in-licensing and commercializing pharmaceutical products for Canada and Latin America. The company operates through its subsidiaries United Medical, Biotoscana Farma, and Laboratorio LKM.
In its latest earnings report for the fourth quarter and year-end 2024, Knight Therapeutics announced record-high revenues since its inception, driven by the growth of key promoted products and the impact of hyperinflation in Argentina. The company reported a 13% increase in revenues, reaching $371.3 million, and a net income of $4.3 million, a significant improvement from a net loss of $16.8 million in the previous year.
Key financial highlights include a gross margin of 47% and an operating income of $7.4 million, compared to an operating loss in the prior year. The company also launched a Normal Course Issuer Bid (NCIB) to purchase up to 5.3 million common shares and entered into an asset purchase agreement to acquire the Paladin business in Canada, which is expected to close in mid-2025.
Looking ahead, Knight Therapeutics expects to generate between $390 million to $405 million in revenues for fiscal 2025, with adjusted EBITDA projected to be approximately 13% of revenues. The company plans to continue investing in its pipeline and recently launched products, including JorNay PM in Canada and Minjuvi in Mexico, while maintaining a strong balance sheet and cash flow generation.