Lantheus Holdings, Inc.
Reconciliation of GAAP to Non-GAAP Financial Measures
(in thousands, except per share data - unaudited)
Three Months Ended |
||||||||||||||||||||||||||
December 31, 2021 |
December 31, 2020 |
|||||||||||||||||||||||||
GAAP |
Adjustments |
Non-GAAP |
GAAP |
Adjustments |
Non-GAAP |
|||||||||||||||||||||
Adjusted |
Adjusted |
|||||||||||||||||||||||||
Revenues |
$ |
129,562 |
$ |
129,562 |
$ |
94,152 |
$ |
94,152 |
||||||||||||||||||
Cost of goods sold (a) |
71,654 |
(15,337) |
56,317 |
55,501 |
(8,209) |
47,292 |
||||||||||||||||||||
Gross profit |
57,908 |
15,337 |
73,245 |
38,651 |
8,209 |
46,860 |
||||||||||||||||||||
Operating expenses |
||||||||||||||||||||||||||
Sales and marketing (b) |
19,423 |
(748) |
18,675 |
12,857 |
(977) |
11,880 |
||||||||||||||||||||
General and administrative (c) |
62,530 |
(47,182) |
15,348 |
13,684 |
11 |
13,695 |
||||||||||||||||||||
Research and development (d) |
11,293 |
(267) |
11,026 |
12,638 |
(4,036) |
8,602 |
||||||||||||||||||||
Total operating expenses |
93,246 |
(48,197) |
45,049 |
39,179 |
(5,002) |
34,177 |
||||||||||||||||||||
Operating (loss) income |
(35,338) |
63,534 |
28,196 |
(528) |
13,211 |
12,683 |
||||||||||||||||||||
Interest expense |
1,528 |
- |
1,528 |
2,811 |
- |
2,811 |
||||||||||||||||||||
Other loss (income) (e) |
4,141 |
- |
4,141 |
(496) |
326 |
(170) |
||||||||||||||||||||
(Loss) income before income |
||||||||||||||||||||||||||
taxes |
(41,007) |
63,534 |
22,527 |
(2,843) |
12,885 |
10,042 |
||||||||||||||||||||
Income tax (benefit) expense (f) |
(792) |
6,078 |
5,286 |
569 |
4,886 |
5,455 |
||||||||||||||||||||
Net (loss) income |
$ |
(40,215) |
$ |
57,456 |
$ |
17,241 |
$ |
(3,412) |
$ |
7,999 |
$ |
4,587 |
||||||||||||||
Net (loss) income per common |
||||||||||||||||||||||||||
share - diluted |
$ |
(0.59) |
$ |
0.25 |
$ |
(0.05) |
$ |
0.07 |
||||||||||||||||||
Weighted-average common shares |
||||||||||||||||||||||||||
outstanding - diluted (g) |
67,713 |
1,733 |
69,446 |
66,870 |
260 |
67,130 |
||||||||||||||||||||
Depreciation expense |
$ |
3,438 |
- |
$ |
3,438 |
$ |
3,350 |
- |
$ |
3,350 |
||||||||||||||||
Amortization expense |
$ |
8,373 |
- |
$ |
8,373 |
$ |
4,683 |
- |
$ |
4,683 |
- Includes stock and incentive plan compensation, amortization of acquired intangible assets, integration costs, impairment of long-lived assets, ARO acceleration and other non-recurring charges.
- Includes stock and incentive plan compensation, integration costs and other non-recurring charges.
- 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.
- Includes stock and incentive plan compensation, impairment of long-lived assets and other non-recurring charges.
- Includes amortization of fair value adjustments.
- 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.
- 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)
Year Ended |
||||||||||||||||||||||||||
December 31, 2021 |
December 31, 2020 |
|||||||||||||||||||||||||
GAAP |
Adjustments |
Non-GAAP |
GAAP |
Adjustments |
Non-GAAP |
|||||||||||||||||||||
Adjusted |
Adjusted |
|||||||||||||||||||||||||
Revenues |
$ |
425,208 |
$ |
425,208 |
$ |
339,410 |
$ |
339,410 |
||||||||||||||||||
Cost of goods sold (a) |
237,513 |
(36,428) |
201,085 |
200,649 |
(24,026) |
176,623 |
||||||||||||||||||||
Gross profit |
187,695 |
36,428 |
224,123 |
138,761 |
24,026 |
162,787 |
||||||||||||||||||||
Operating expenses |
||||||||||||||||||||||||||
Sales and marketing (b) |
68,422 |
(2,898) |
65,524 |
40,901 |
(2,437) |
38,464 |
||||||||||||||||||||
General and administrative (c) |
150,395 |
(92,555) |
57,840 |
69,270 |
(21,077) |
48,193 |
||||||||||||||||||||
Research and development (d) |
44,966 |
(2,000) |
42,966 |
32,788 |
(5,621) |
27,167 |
||||||||||||||||||||
Total operating expenses |
263,783 |
(97,453) |
166,330 |
142,959 |
(29,135) |
113,824 |
||||||||||||||||||||
Gain on sale of assets |
15,263 |
(15,263) |
- |
- |
- |
- |
||||||||||||||||||||
Operating (loss) income |
(60,825) |
118,618 |
57,793 |
(4,198) |
53,161 |
48,963 |
||||||||||||||||||||
Interest expense |
7,752 |
- |
7,752 |
9,479 |
- |
9,479 |
||||||||||||||||||||
Gain on extinguishment of debt |
(889) |
889 |
- |
- |
- |
- |
||||||||||||||||||||
Other loss (income) (e) |
7,350 |
307 |
7,657 |
(2,198) |
711 |
(1,487) |
||||||||||||||||||||
(Loss) income before income |
(75,038) |
117,422 |
42,384 |
(11,479) |
52,450 |
40,971 |
||||||||||||||||||||
Income tax (benefit) expense (f) |
(3,759) |
12,138 |
8,379 |
1,994 |
13,152 |
15,146 |
||||||||||||||||||||
Net (loss) income |
$ |
(71,279) |
$ |
105,284 |
$ |
34,005 |
$ |
(13,473) |
$ |
39,298 |
$ |
25,825 |
||||||||||||||
Net (loss) income per common |
||||||||||||||||||||||||||
share - diluted |
$ |
(1.06) |
$ |
0.49 |
$ |
(0.25) |
$ |
0.47 |
||||||||||||||||||
Weighted-average common |
||||||||||||||||||||||||||
shares outstanding - diluted (g) |
67,486 |
1,477 |
68,963 |
54,134 |
337 |
54,471 |
||||||||||||||||||||
Depreciation expense |
$ |
13,224 |
- |
$ |
13,224 |
$ |
12,481 |
- |
$ |
12,481 |
||||||||||||||||
Amortization expense |
$ |
27,506 |
- |
$ |
27,506 |
$ |
10,770 |
- |
$ |
10,770 |
- 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.
- Includes stock and incentive plan compensation, integration costs and other non-recurring charges.
- 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.
- Includes stock and incentive plan compensation, impairment of long-lived assets and other non-recurring charges.
- Includes amortization of fair value adjustments.
- 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.
- 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, 2021 |
June 30, 2021 |
September 30, 2021 |
December 31, 2021 |
||||||||||||||||||||||
GAAP |
Adjustments |
Non-GAAP |
GAAP |
Adjustments |
Non-GAAP |
GAAP |
Adjustments |
Non-GAAP |
GAAP |
Adjustments |
Non-GAAP |
||||||||||||||
Adjusted |
Adjusted |
Adjusted |
Adjusted |
||||||||||||||||||||||
Revenues |
$ 92,509 |
$ 92,509 |
$ 101,064 |
$ 101,064 |
$ 102,073 |
$ 102,073 |
$ 129,562 |
$ 129,562 |
Cost of goods sold (a) |
51,479 |
(5,462) |
46,017 |
54,976 |
(7,111) |
47,865 |
59,404 |
(8,518) |
50,886 |
71,654 |
(15,337) |
56,317 |
||||||||||||
Gross profit |
41,030 |
5,462 |
46,492 |
46,088 |
7,111 |
53,199 |
42,669 |
8,518 |
51,187 |
57,908 |
15,337 |
73,245 |
||||||||||||
Operating expenses |
||||||||||||||||||||||||
Sales and marketing (b) |
14,173 |
(642) |
13,531 |
17,631 |
(825) |
16,806 |
17,195 |
(683) |
16,512 |
19,423 |
(748) |
18,675 |
||||||||||||
General and administrative (c) |
16,138 |
(2,135) |
14,003 |
43,177 |
(28,640) |
14,537 |
28,550 |
(14,598) |
13,952 |
62,530 |
(47,182) |
15,348 |
||||||||||||
Research and development (d) |
10,360 |
(425) |
9,935 |
12,061 |
(599) |
11,462 |
11,252 |
(709) |
10,543 |
11,293 |
(267) |
11,026 |
||||||||||||
Total operating expenses |
40,671 |
(3,202) |
37,469 |
72,869 |
(30,064) |
42,805 |
56,997 |
(15,990) |
41,007 |
93,246 |
(48,197) |
45,049 |
||||||||||||
Gain on sale of assets |
15,263 |
(15,263) |
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
||||||||||||
Operating income (loss) |
15,622 |
(6,599) |
9,023 |
(26,781) |
37,175 |
10,394 |
(14,328) |
24,508 |
10,180 |
(35,338) |
63,534 |
28,196 |
||||||||||||
Interest expense |
2,718 |
- |
2,718 |
1,937 |
- |
1,937 |
1,569 |
- |
1,569 |
1,528 |
- |
1,528 |
||||||||||||
Gain on extinguishment of debt |
(889) |
889 |
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
||||||||||||
Other income (e) |
(549) |
307 |
(242) |
(182) |
- |
(182) |
3,940 |
- |
3,940 |
4,141 |
- |
4,141 |
||||||||||||
Income (loss) before income |
||||||||||||||||||||||||
taxes |
14,342 |
(7,795) |
6,547 |
(28,536) |
37,175 |
8,639 |
(19,837) |
24,508 |
4,671 |
(41,007) |
63,534 |
22,527 |
||||||||||||
Income tax expense (benefit) (f) |
5,334 |
(2,083) |
3,251 |
(1,879) |
2,731 |
852 |
(6,422) |
5,412 |
(1,010) |
(792) |
6,078 |
5,286 |
||||||||||||
Net income (loss) |
$ |
9,008 |
$ |
(5,712) |
$ |
3,296 |
$ |
(26,657) |
$ |
34,444 |
$ |
7,787 |
$ |
(13,415) |
$ |
19,096 |
$ |
5,681 |
$ |
(40,215) |
$ |
57,456 |
$ |
17,241 |
Net income (loss) per common |
||||||||||||||||||||||||
share - diluted |
$ |
0.13 |
$ |
0.05 |
$ |
(0.39) |
$ |
0.11 |
$ |
(0.20) |
$ |
0.08 |
$ |
(0.59) |
$ |
0.25 |
||||||||
Weighted-average common |
||||||||||||||||||||||||
shares outstanding - diluted (g) |
67,714 |
67,714 |
67,505 |
1,200 |
68,705 |
67,623 |
1,614 |
69,237 |
67,713 |
1,733 |
69,446 |
Depreciation expense |
$ |
3,046 |
- |
$ |
3,046 |
$ |
3,163 |
- |
$ |
3,163 |
$ |
3,577 |
- |
$ |
3,577 |
$ |
3,438 |
- |
$ |
3,438 |
||||||||||||
Amortization expense |
$ |
4,685 |
- |
$ |
4,685 |
$ |
6,074 |
- |
$ |
6,074 |
$ |
8,374 |
- |
$ |
8,374 |
$ |
8,373 |
- |
$ |
8,373 |
- Includes stock and incentive plan compensation, amortization of acquired intangible assets, integration costs, impairment of long-lived assets, ARO acceleration and other non- recurring charges.
- Includes stock and incentive plan compensation, integration costs and other non-recurring charges.
- 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.
- Includes stock and incentive plan compensation.
- Includes amortization of fair value adjustments.
- 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.
- Diluted shares may differ for non-GAAP measures as compared to GAAP due to a GAAP net loss position.
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Lantheus Holdings Inc. published this content on 24 February 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 24 February 2022 12:15:44 UTC.