Strong Financial Performance
DRI Healthcare reported total cash receipts of $43.6 million, a 12% increase over the same quarter last year. Total income was $48.7 million, a 17% increase from the previous year. Adjusted EBITDA grew by 17% year-over-year, reaching $36.7 million with an adjusted EBITDA margin of 84%.
Successful Internalization
The third quarter marked DRI's first full quarter operating as an internalized company with adjusted EBITDA margins of 84%. The company plans to optimize its internal platform, expecting costs to decrease further in the near term.
Ekterly Approval and Milestone Payment
Ekterly received approval on July 7, 2025. Calvista exercised its option for a one-time $22 million payment, increasing DRI's royalty rate on the first year of sales.
Strategic Acquisition of Veligrotug and VRDN-003 Royalties
DRI acquired synthetic royalty streams on Veligrotug and VRDN-003 for an upfront fee of $55 million, with total investment expected up to $300 million. Veligrotug has been granted a breakthrough therapy designation from the FDA.