2020 | 2021 | 2022 | 2023 | 2024 | |
---|---|---|---|---|---|
Revenue | $67M | $37M | $83M | $91M | $490M |
Cost of Revenue | $0 | $0 | $64M | $161M | $185M |
Gross Profit | $67M | $37M | $19M | -$69M | $304M |
Gross Profit % | 100% | 100% | 23% | -76% | 62% |
R&D Expenses | $148M | $191M | $181M | $211M | $171M |
2020 | 2021 | 2022 | 2023 | 2024 | |
---|---|---|---|---|---|
Net Income | -$170M | -$102M | -$514M | -$552M | -$232M |
Dep. & Amort. | $16M | $18M | $20M | $24M | $31M |
Def. Tax | -$122M | -$48M | -$38M | -$99M | $14M |
Stock Comp. | $0 | $0 | $10M | $18M | $7.6M |
Chg. in WC | $33M | -$6.8M | -$48M | $26M | -$289M |
2020 | 2021 | 2022 | 2023 | 2024 | |
---|---|---|---|---|---|
Cash | $32M | $18M | $66M | $11M | $51M |
ST Investments | $0 | $0 | $0 | $0 | $0 |
Cash & ST Inv. | $32M | $18M | $66M | $11M | $51M |
Receivables | $39M | $54M | $71M | $87M | $252M |
Inventory | $9.6M | $39M | $71M | $74M | $128M |
Alvotech raised its 2025 topline revenue guidance to $600M–$700M and adjusted EBITDA guidance to $200M–$280M, reflecting strong demand and new pipeline assets.
Q1 2025 product revenues reached $110M, up 784% year-over-year, driven by successful launches of Humira and Stelara biosimilars in the U.S. and continued growth in ex-U.S. markets.
The company achieved its fourth consecutive quarter of positive adjusted EBITDA ($21M in Q1) and generated $17M in positive cash flow from operations, expecting to be free cash flow positive and self-funded in 2025.
Alvotech anticipates three new biosimilar launches in Q4 2025 and a fourth in early 2026, expanding from two to six marketed biosimilars by early 2026, with a robust pipeline targeting a $185B+ addressable market.
The company expects full-year adjusted product margins of 38%–41%, with most EBITDA and milestone revenue recognition occurring in the second half of 2025; no reliance on external funding is anticipated for ongoing operations or launches.