Record Revenue and Growth
ANI Pharmaceuticals achieved record revenue, adjusted EBITDA, and adjusted EPS in Q3 2025. Total company revenues increased by 54% year-over-year and 46% on an organic basis.
Cortrophin Gel Revenue Surge
Cortrophin Gel net revenue nearly doubled compared to Q3 2024, contributing to a 70% year-over-year growth in adjusted EBITDA. Cortrophin Gel is expected to grow 75% to 78% year-over-year to generate revenues of $347 million to $352 million.
Generics Business Performance
The Generics business had a strong performance due to an opportunistic partner generic launch, leading to expected Generics growth for the full year in the low 20% range.
Increased Financial Guidance
ANI Pharmaceuticals raised its full-year 2025 financial guidance, expecting net revenues to grow 39% to 42% and adjusted EBITDA between 42% and 46% compared to 2024.
Cash Flow and Debt Management
ANI Pharmaceuticals ended Q3 with $262.6 million in unrestricted cash, up from $217.8 million in Q2, and reduced net leverage to 1.7x trailing 12-month adjusted EBITDA.