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Valeo Pharma (VPH) investor relations material
Valeo Pharma Q3 2024 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.
Executive summary
Q3 2024 revenues were $12.6M, down 11% year-over-year, mainly due to the loss or termination of Xiidra; core brands grew 9% year-over-year.
Year-to-date revenues of $40.3M are nearly flat compared to $40.8M in the prior year period.
Cost-saving initiatives and restructuring since late 2023 have begun to materialize, with further improvements expected.
Targeting EBITDA positive status in Q1 2025.
Enerzair and Atectura prescriptions rose 74% year-over-year, with prescribing physicians up 71%.
Financial highlights
Q3 2024 adjusted gross profit was $3.9M, down 12% year-over-year, mainly due to Xiidra transfer.
Net loss for Q3 2024 was $8.2M, a 40% increase from $5.8M in Q3 2023, driven by Xiidra loss and $1.6M in restructuring costs.
Adjusted EBITDA loss improved to $1.5M in Q3 2024 from $2.5M in Q3 2023, a 40% reduction.
Year-to-date adjusted EBITDA loss was $6.1M, a 5% improvement over the prior year.
YTD-24 net loss: $22.9M vs $18.6M YTD-23.
Outlook and guidance
Expect continued revenue growth from core therapeutic assets and further OpEx reductions.
Anticipate achieving EBITDA positive status in Q1 2025.
Ontario market entry for Radhesca expected to drive significant growth in coming quarters.
Cost reduction measures from respiratory business restructuring expected to decrease annual operating expenses by over $5M.
Profitability to improve as restructuring costs subside.
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