Bora Pharmaceuticals (6472) investor relations material

Executive summary

• Achieved record quarterly revenues and profitability in CDMO and specialty pharma, with strong growth led by the Vigabatrin franchise and the Deflazacort brand launch ready.

• Completed three U.S.-focused acquisitions in 2024, doubling annual revenue and expanding technological capabilities.

• Discontinued legacy low-margin generics, releasing NT$2 billion in cash flow.

• Integration and product rationalization largely completed, providing clear visibility on long-term strategic goals.

• Cautiously optimistic outlook despite external challenges such as U.S. tariffs and drug pricing uncertainty.

Financial highlights

• FY2024 revenue reached over $600 million USD, with 95% generated outside Taiwan.

• Q3'25 revenue was NT$4,806 million, down 1% QoQ; gross margin improved to 45% from 41% in Q2.

• Operating income reached NT$1,063 million; net income for continued operations at NT$822 million, up 83% QoQ; EBITDA at NT$1,283 million.

• Basic EPS from continued operations reached NT$6.58, despite a 20% share base expansion; loss per share of NT$1.49 from discontinued operations.

• Operating cash inflow increased by ~NT$2,050 million year-over-year.

Outlook and guidance

• Strategic reset and increased CDMO backlog and capacity position for profitability expansion into 2026.

• Focus on expanding U.S. presence, maximizing capacity utilization, and pursuing both organic and M&A-driven growth.

• Ongoing optimization of product mix to drive margin quality and cash efficiency.

• Anticipates stable gross margin growth and further advances in high-value generics and rare disease portfolio.