Exceeded Revenue and Profitability Expectations
Third quarter revenues of $231 million were $21 million above the high end of Q3 guidance. Year-to-date, $194 million of adjusted EBITDA was generated, reaching the high end of the full-year guidance.
Increased Financial Guidance
Emergent raised its total revenue guidance to $775 million to $835 million and adjusted EBITDA guidance to $195 million to $210 million, reflecting a $15 million increase at the midpoint.
Strong Liquidity and Cash Position
Access to $346 million in financial capacity, including $246 million of balance sheet cash and an undrawn revolver. Net leverage improved to approximately 2x net debt to adjusted EBITDA.
Naloxone Business Growth
NARCAN unit volume grew by 13% quarter-over-quarter, with revenue growth of 9%. Continued market leadership in the naloxone category.
International Revenue Growth
International customers represent 34% of MCM sales year-to-date, up from the mid- to high teens in previous years.