• Live Feeds
    • Press Releases
    • Insider Trading
    • FDA Approvals
    • Analyst Ratings
    • Insider Trading
    • SEC filings
    • Market insights
  • Analyst Ratings
  • Alerts
  • Subscriptions
  • Settings
  • RSS Feeds
Quantisnow Logo
  • Live Feeds
    • Press Releases
    • Insider Trading
    • FDA Approvals
    • Analyst Ratings
    • Insider Trading
    • SEC filings
    • Market insights
  • Analyst Ratings
  • Alerts
  • Subscriptions
  • Settings
  • RSS Feeds
Dashboard
    Quantisnow Logo

    © 2025 quantisnow.com
    Democratizing insights since 2022

    Services
    Live news feedsRSS FeedsAlerts
    Company
    AboutQuantisnow PlusContactJobs
    Legal
    Terms of usePrivacy policyCookie policy

    Assertio Reports Fourth Quarter and Full Year 2024 Financial Results

    3/12/25 4:05:00 PM ET
    $ASRT
    Biotechnology: Pharmaceutical Preparations
    Health Care
    Get the next $ASRT alert in real time by email

    Fourth Quarter Net Product Sales $29.6 Million, Cash Flow from Operations of $11.5 Million

    Full Year Net Product Sales $120.8 Million, Rolvedon Sales Exceed $60.0 Million

    Full Year Cash Flow from Operations of $26.4 Million, Cash and Investments Increases to $100.1 Million

    LAKE FOREST, Ill., March 12, 2025 (GLOBE NEWSWIRE) -- Assertio Holdings, Inc. ("Assertio" or the "Company") (NASDAQ:ASRT) today reported financial results for the fourth quarter and full year ended December 31, 2024.

    Said Brendan O'Grady, Chief Executive Officer, "In line with our strategy for Assertio's long-term growth, 2024 was a year of stabilization as we transitioned to Rolvedon as our primary asset. We enhanced our leadership team and board with additional expertise in legal, commercial, and strategy areas, optimized our cost structure, and strengthened our balance sheet with over $26 million in cash flow generated by the performance of our assets.

    "We expect 2025 will be a transformational year focused on initiatives designed to drive revenue growth in Rolvedon and Sympazan by investing to unlock new opportunities, continuing to manage our legal exposure and associated costs, while simplifying our structure.

    "We are also actively pursuing our acquisition strategy, seeking to deploy our balance sheet into appropriate commercial assets that fit our model, enhance our scale and better position ourselves for near-term growth. We remain diligent in these efforts with regard to finding the proper fit and pricing of assets that can deliver results within our targeted metrics as we work to build on the commercial platform at Assertio."

    Financial Highlights (unaudited):

     Three Months Ended  Twelve Months Ended
    (in millions, except per share amounts)December 31,

    2024
     September 30,

    2024
     December 31,

    2023
     December 31,

    2024
     December 31,

    2023
    Net Product Sales (GAAP)$                29.6   $                 28.7   $                32.5   $              120.8   $              149.5  
    Net Loss (GAAP)$              (10.5) $                 (2.9) $              (57.4) $              (21.6) $            (331.9)
    Loss Per Share (GAAP)$              (0.11) $               (0.03) $              (0.61) $              (0.23) $              (4.67)
    Adjusted EBITDA (Non-GAAP)1$                (0.5) $                   5.3   $                  4.5   $                17.1   $                67.7  
    Adjusted Earnings Per Share (Non-GAAP)1$              (0.03) $                 0.03   $                0.11   $                0.06   $                0.55  
                        

    Fourth quarter results included the following highlights (our discussion below focuses on a comparison of fourth quarter 2024 to third quarter 2024 given the acquisition of Spectrum and the generic competition of Indocin introduced in 2023):

    • Net product sales were $29.6 million in the fourth quarter, increased from $28.7 million in the third quarter. 
      • Rolvedon net product sales were $15.4 million in the fourth quarter, a $0.4 million increase from the prior quarter, driven by higher volume, partially offset by changes in pricing.
      • Indocin net product sales in the fourth quarter were $5.5 million, compared to $5.7 million in the prior quarter, reflecting pricing changes following a generic entrant late in 2023.
    • Gross margin2 was 61% in the fourth quarter, compared to 74% in the third quarter, reflecting the impact of $2.9 million in higher inventory write downs, primarily for Indocin. Excluding these charges, gross margin was 71%, with the change driven by product mix. 
    • SG&A expense in the fourth quarter was $21.4 million, compared to $16.7 million in the third quarter, primarily reflecting a net $5.4 million increase in litigation contingencies, which was partially offset by lower general operating expenses.
    • Adjusted EBITDA3 loss was $0.5 million, compared to adjusted EBITDA of $5.3 million in the prior quarter, primarily due to the effect of inventory write downs and litigation contingency charges noted above.
    • Fourth quarter 2024 included a charge of $5.2 million for loss on impairment of Otrexup intangible assets.

    Balance Sheet and Cash Flows

    • Assertio generated $11.5 million in cash flow from operations in the fourth quarter, and $26.4 million in cash flow from operations for the full year 2024.
    • At December 31, 2024, cash, cash equivalents and short-term investments totaled $100.1 million.
    • Debt at December 31, 2024 was $40.0 million, comprised of the Company's 6.5% convertible notes, with no maturities until September 2027.

    2025 Full Year Financial Guidance

    Assertio announced its initial 2025 operating guidance as follows:

    Net Product Sales (GAAP)$108.0 Million to $123.0 Million
    Adjusted EBITDA (Non-GAAP)$10.0 Million to $19.0 Million
      

    Conference Call and Investor Presentation Information

    Assertio's management will host a conference call to discuss its fourth quarter and full year 2024 financial results today:

    Date:Wednesday, March 12, 2025
    Time:4:30 p.m. Eastern Time
    Webcast (live and archive):http://investor.assertiotx.com/overview/default.aspx

    (Events & Webcasts, Investor Page)
    Dial-in numbers:1-646-307-1963, Conference ID 3278948
      

    To access the live webcast, the recorded conference call replay, and other materials, please visit Assertio's investor relations website at http://investor.assertiotx.com/overview/default.aspx. Please connect at least 15 minutes prior to the live webcast to ensure adequate time for any software download that may be needed to access the webcast. The replay will be available approximately two hours after the call on Assertio's investor website.

    ___________________________________

    1 Non-GAAP measures are reconciled to the corresponding GAAP measures in the schedules attached.

    2 Gross margin represents the ratio of net product sales less cost of sales to net product sales.

    3 See "Non-GAAP Financial Measures" below for information about reconciling our Adjusted EBITDA to Net Loss.

    About Assertio

    Assertio is a pharmaceutical company with comprehensive commercial capabilities offering differentiated products designed to address patients' needs. Our focus is on supporting patients by marketing products in oncology, neurology, and pain management. To learn more about Assertio, visit www.assertiotx.com.

    Investor Contact

    Matt Kreps, Managing Director

    Darrow Associates

    M: 214-597-8200

    [email protected]

    Forward Looking Statements

    The statements in this communication include forward-looking statements. Forward-looking statements may discuss goals, intentions and expectations as to future plans, trends, events, results of operations or financial condition, or otherwise, based on current beliefs. Forward-looking statements speak only as of the date they are made or as of the dates indicated in the statements and should not be relied upon as predictions of future events, as there can be no assurance that the events or circumstances reflected in these statements will be achieved or will occur. Forward-looking statements can often, but not always, be identified by the use of forward-looking terminology such as "anticipate," "approximate", "believe," "could," "estimate," "expect," "goal," "intend," "may," "might," "opportunity," "plan," "potential," "project," "prospective," "pursue," "seek," "should," "strategy," "target," "will," or the negative of these words and phrases, other variations of these words and phrases or comparable terminology. These forward-looking statements involve risks and uncertainties that could cause actual results to differ materially from those contemplated by the statements, including: Assertio's ability to grow sales and the commercial success and market acceptance of Rolvedon and Assertio's other products, including the coverage of our products by payors and pharmacy benefit managers; Assertio's ability to successfully develop and execute its sales, marketing and promotion strategies using its sales force and omni-channel promotion model capabilities; the impact on sales and profits from the entry and sales of generics of Assertio's products and/or other products competitive with any of Assertio's products, including biosimilars and indomethacin suppositories compounded by hospitals and other institutions including a 503B compounder which we believe is violating certain provisions of the Federal Food, Drug and Cosmetic Act; the timing and impact of additional generic approvals and uncertainty around the recent approvals and launches of generic Indocin products, which are not patent protected and now face generic competition; Assertio's ability to successfully identify and execute business development and other strategic transactions; risks that any new businesses will not be integrated successfully or that the combined company will not realize estimated cost savings, value of certain tax assets, synergies and growth, or that such benefits may take longer and/or cost more to realize than expected; expectations regarding changes in product volume and mix and the impact those changes may have on Assertio's operating results; expectations regarding the recovery of long-lived assets; expected industry trends, including pricing pressures and managed healthcare practices; Assertio's ability to attract and retain executive leadership and key employees; the ability of Assertio's third-party manufacturers to manufacture adequate quantities of commercially salable inventory and active pharmaceutical ingredients for each of Assertio's products on commercially reasonable terms and in compliance with their contractual obligations to Assertio, and Assertio's ability to maintain its supply chain which relies on single-source suppliers; the outcome of, and Assertio's intentions with respect to, any litigation or government investigations, including pending and potential future shareholder litigation relating to the Spectrum Merger and/or the recent approval and launch of generic indomethacin suppositories, opioid-related government investigations and opioid-related litigation, Spectrum's legacy shareholder and other litigation, and other disputes and litigation, including Assertio's antitrust and unsealed qui tam litigation for which settlements in principle were reached in the third and fourth quarters, respectively, of 2024, as well as the costs and expenses associated therewith; Assertio's financial cost and results of its clinical studies and other research and development efforts, including the extent to which data from the Rolvedon same-day dosing trial, which was completed in the fourth quarter of 2024, may support ongoing commercialization efforts; Assertio's compliance or non-compliance with, or being subject to, legal and regulatory requirements related to the development or promotion of pharmaceutical products in the United States; the extent to which the current U.S. federal administration may impose or seek to impose leadership, rule and/or policy changes impacting Assertio's business, as well as legal challenges and uncertainty around the funding, functioning, regulatory and policy priorities of U.S. federal regulatory agencies; variations in revenues obtained from commercialization agreements and the accounting treatment with respect thereto; Assertio's common stock regaining and maintaining compliance with The Nasdaq Capital Market's minimum closing bid requirement of at least $1.00 per share, in light of the deficiency notification received on January 22, 2025; Assertio's ability to obtain and maintain intellectual property protection for its products and operate its business without infringing the intellectual property rights of others; and the impacts of potential changes to existing trade agreements and new tariffs, including tariffs on imported pharmaceuticals into the U.S. For a discussion of additional factors that could cause actual results to differ materially from those contemplated by forward-looking statements, see the risks described in Assertio's Annual Report on Form 10-K, Quarterly Reports on Form 10-Q and other filings with the Securities and Exchange Commission. Many of these risks and uncertainties may be exacerbated by public health emergencies and general macroeconomic conditions. Assertio does not assume, and hereby disclaims, any obligation to update forward-looking statements, except as may be required by law.

    Non-GAAP Financial Measures

    To supplement the Company's financial results presented on a U.S. generally accepted accounting principles ("GAAP") basis, the Company has included information about non-GAAP measures of EBITDA, adjusted EBITDA, adjusted earnings, and adjusted earnings per share as useful operating metrics. The Company believes that the presentation of these non-GAAP financial measures, when viewed with results under GAAP and the accompanying reconciliation, provides supplementary information to analysts, investors, lenders, and the Company's management in assessing the Company's performance and results from period to period. The Company uses these non-GAAP measures internally to understand, manage and evaluate the Company's performance, and in part, in the determination of bonuses for executive officers and employees. These non-GAAP financial measures should be considered in addition to, and not a substitute for, or superior to, net income or other financial measures calculated in accordance with GAAP. Non-GAAP financial measures used by us may be calculated differently from, and therefore may not be comparable to, non-GAAP measures used by other companies.

    This release also includes estimated full-year non-GAAP adjusted EBITDA information, which the Company believes enables investors to better understand the anticipated performance of the business, but should be considered a supplement to, and not as a substitute for or superior to, financial measures calculated in accordance with GAAP. No reconciliation of estimated non-GAAP adjusted EBITDA to estimated net income is provided in this release because some of the information necessary for estimated net income such as income taxes, fair value change in contingent consideration, and stock-based compensation is not yet ascertainable or accessible and the Company is unable to quantify these amounts that would be required to be included in estimated net income without unreasonable efforts.

    Specified Items

    Non-GAAP measures presented within this release exclude specified items. The Company considers specified items to be significant income/expense items not indicative of current operations. Specified items may include adjustments to interest expense and interest income, income tax expense (benefit), depreciation expense, amortization expense, sales reserves adjustments for products the Company is no longer selling, stock-based compensation expense, fair value adjustments to contingent consideration or derivative liability, restructuring charges, amortization of fair value inventory step-up as a result of purchase accounting, transaction-related costs, gains, losses or impairments from adjustments to long-lived assets and assets not part of current operations, changes in valuation allowances on deferred tax assets, and gains or losses resulting from debt refinancing or extinguishment.

    ASSERTIO HOLDINGS, INC.
    CONSOLIDATED STATEMENTS OF COMPREHENSIVE LOSS
    (in thousands, except per share amounts)
    (unaudited)
     
     Three Months Ended Year Ended
     December 31,

    2024
     September 30,

    2024
     December 31,

    2023
     December 31,

    2024
     December 31,

    2023
    Revenues:         
    Product sales, net$29,587  $28,705  $32,462  $120,849  $149,451 
    Royalties and milestones 495   499   523   2,012   2,433 
    Other revenue 2,100   —   —   2,100   185 
    Total revenues 32,182   29,204   32,985   124,961   152,069 
    Costs and expenses:         
    Cost of sales 11,611   7,550   9,721   39,227   27,020 
    Research and development expenses 1,286   1,005   1,024   3,822   2,843 
    Selling, general and administrative expenses 21,416   16,726   23,958   75,051   78,638 
    Change in fair value of contingent consideration (544)  300   (17,414)  (244)  (25,538)
    Amortization of intangible assets 6,671   6,671   4,775   25,644   27,527 
    Loss on impairment of intangible assets 5,217   —   40,808   5,217   279,639 
    Restructuring charges —   —   2,442   720   5,476 
    Total costs and expenses 45,657   32,252   65,314   149,437   395,605 
    Loss from operations (13,475)  (3,048)  (32,329)  (24,476)  (243,536)
    Other income (expense):         
    Debt related expenses —   —   —   —   (9,918)
    Interest expense (763)  (761)  (755)  (3,039)  (3,380)
    Interest income 780   887   690   3,221   2,403 
    Other gain, net 2,709   45   489   2,765   377 
    Total other income (expense) 2,726   171   424   2,947   (10,518)
    Net loss before income taxes (10,749)  (2,877)  (31,905)  (21,529)  (254,054)
    Income tax benefit (expense) 273   (44)  (25,479)  (52)  (77,888)
    Net loss and comprehensive loss$(10,476) $(2,921) $(57,384) $(21,581) $(331,942)
              
    Basic and diluted net loss per share$(0.11) $(0.03) $(0.61) $(0.23) $(4.67)
    Shares used in computing basic and diluted net loss per share 95,509   95,352   94,669   95,271   71,031 
                        



    ASSERTIO HOLDINGS, INC.
    CONSOLIDATED BALANCE SHEETS
    (in thousands, except share data)
    (unaudited)
     
     December 31,
     2024 2023
    ASSETS   
    Current assets:   
    Cash and cash equivalents$50,588  $73,441 
    Short-term investments 49,466   — 
    Accounts receivable, net 54,120   47,663 
    Inventories, net 38,308   37,686 
    Prepaid and other current assets 10,067   12,272 
    Total current assets 202,549   171,062 
    Property and equipment, net 586   770 
    Intangible assets, net 80,471   111,332 
    Other long-term assets 1,126   3,255 
    Total assets$284,732  $286,419 
    LIABILITIES AND SHAREHOLDERS' EQUITY   
    Current liabilities:   
    Accounts payable$14,736  $13,439 
    Accrued rebates, returns and discounts 76,304   58,137 
    Accrued liabilities 18,847   18,213 
    Contingent consideration, current portion 726   2,700 
    Other current liabilities 4,075   954 
    Total current liabilities 114,688   93,443 
    Long-term debt 38,813   38,514 
    Other long-term liabilities 10,150   16,459 
    Total liabilities 163,651   148,416 
    Commitments and contingencies   
    Shareholders' equity:   
    Common stock, $0.0001 par value, 200,000,000 shares authorized; 95,536,990 and 94,668,523 shares issued and outstanding as of December 31, 2024 and December 31, 2023, respectively 9   9 
    Additional paid-in capital 794,196   789,537 
    Accumulated deficit (673,124)  (651,543)
    Total shareholders' equity 121,081   138,003 
    Total liabilities and shareholders' equity$284,732  $286,419 
            



    ASSERTIO HOLDINGS, INC.
    CONSOLIDATED STATEMENTS OF CASH FLOWS
    (in thousands)
    (unaudited)
     
     Year Ended December 31,
     2024

     2023

    Operating Activities   
    Net loss$(21,581) $(331,942)
    Adjustments to reconcile net loss to net cash provided by operating activities:   
    Depreciation and amortization 25,829   28,229 
    Amortization of debt issuance costs and Royalty Rights 439   455 
    Accretion of interest income from short-term investments (542)  — 
    Loss on impairment of intangible assets 5,217   279,639 
    Recurring fair value measurements of assets and liabilities (397)  (25,482)
    Payment of contingent consideration (1,730)  — 
    Debt-related expenses —   9,918 
    Stock-based compensation 5,009   9,158 
    Provisions for inventory 8,960   3,288 
    Deferred income taxes —   76,201 
    Changes in assets and liabilities, net of acquisition:   
    Accounts receivable (6,457)  48,669 
    Inventories (9,583)  (4,973)
    Prepaid and other assets 4,334   (1,169)
    Accounts payable and other accrued liabilities (1,256)  (29,348)
    Accrued rebates, returns and discounts 18,166   (12,313)
    Interest payable —   (726)
    Net cash provided by operating activities 26,408   49,604 
    Investing Activities   
    Purchases of short-term investments (98,605)  — 
    Proceeds from maturities of short-term investments 49,694   — 
    Proceeds from the sale of investments —   2,194 
    Net cash acquired in Spectrum Merger —   1,950 
    Purchases of property and equipment —   (628)
    Purchase of Sympazan —   (419)
    Net cash (used in) provided by investing activities (48,911)  3,097 
    Financing Activities   
    Payments related to the vesting and settlement of equity awards, net (350)  (7,898)
    Payment of contingent consideration —   (24,194)
    Payments in connection with 2027 Convertible Notes —   (10,500)
    Payment of direct transaction costs related to convertible debt inducement —   (1,119)
    Payment of Royalty Rights —   (459)
    Other financing activities —   (31)
    Net cash used in financing activities (350)  (44,201)
    Net (decrease) increase in cash and cash equivalents (22,853)  8,500 
    Cash and cash equivalents at beginning of year 73,441   64,941 
    Cash and cash equivalents at end of year$50,588  $73,441 
    Supplemental Disclosure of Cash Flow Information   
    Net cash paid for income taxes$1,594  $4,031 
    Cash paid for interest$2,600  $3,651 





    RECONCILIATION OF GAAP NET LOSS TO NON-GAAP EBITDA and ADJUSTED EBITDA
    (in thousands)
    (unaudited)
     
     Three Months Ended Twelve months ended  
     December 31,

    2024
     September 30,

    2024
     December 31,

    2023
     December 31,

    2024
     December 31,

    2023
     Financial Statement

    Classification
    GAAP Net Loss$(10,476) $(2,921) $(57,384) $(21,581) $(331,942)  
    Interest expense 763   761   755   3,039   3,380  Interest expense
    Income tax (benefit) expense (273)  44   25,479   52   77,888  Income tax expense
    Depreciation expense 38   40   132   184   702  Selling, general and administrative expenses
    Amortization of intangible assets 6,671   6,671   4,775   25,644   27,527  Amortization of intangible assets
    EBITDA (Non-GAAP) (3,277) $4,595   (26,243)  7,338   (222,445)  
    Adjustments:           
    Legacy product reserves (1) (2,100)  —   —   (2,100)  (185) Other revenue
    Stock-based compensation 1,098   1,296   2,642   5,009   9,158  Selling, general and administrative expenses
    Change in fair value of contingent consideration (2) (544)  300   (17,414)  (244)  (25,538) Change in fair value of contingent consideration
    Debt-related expenses (3) —   —   —   —   9,918  Debt-related expenses
    Transaction-related expenses (4) —   —   361   —   8,900  Selling, general and administrative expenses
    Loss on impairment of intangible assets (5) 5,217   —   40,808   5,217   279,639  Loss on impairment of intangible assets
    Restructuring costs (6) —   —   2,442   720   5,476  Restructuring charges
    Other (7) (920)  (887)  1,855   1,203   2,820  Multiple
    Adjusted EBITDA (Non-GAAP)$(526) $5,304  $4,451  $17,143  $67,743   
                          



    (1)Represents removal of the impact of revenue adjustment to reserves for product sales allowances (gross-to-net-sales allowances) estimates related to previously divested products.
    (2)The fair value of the contingent consideration is remeasured each reporting period, with changes in the fair value resulting from changes in the underlying inputs being recognized as a benefit or expense in operating expenses until the contingent consideration arrangement is settled.
    (3)Debt-related expenses consist of an induced conversion expense of approximately $8.8 million and direct transaction costs of approximately $1.1 million incurred as a result of the privately negotiated exchange of $30.0 million principal amount of the Company's 6.5% Convertible Senior Notes due 2027 in the first quarter of 2023.
    (4)Represents transaction-related expenses associated with the acquisition of Spectrum, which closed effective July 31, 2023.
    (5)Represents the loss recognized in the period for the impairment of intangible assets.
    (6)Restructuring charges represent non-recurring costs associated with the Company's announced restructuring plan.
    (7)Other for the three and twelve months ended December 31, 2024 and 2023 represent the following adjustments (in thousands):
      



      Three Months Ended Twelve months ended  
      December 31,

    2024
     September 30,

    2024
     December 31,

    2023
     December 31,

    2024
     December 31,

    2023
     Financial Statement

    Classification
    Amortization of inventory step-up $—  $—  $3,001  $4,564  $5,167  Cost of sales
    Interest income on short-term investments  (780)  (887)  (690)  (3,221)  (2,403) Interest income
    Derivative fair value adjustment  (140)  —   (456)  (140)  56  Other income, net
    Total Other $(920) $(887) $1,855  $1,203  $2,820   
                           



    RECONCILIATION OF GAAP NET LOSS and NET LOSS PER SHARE TO
    NON-GAAP ADJUSTED EARNINGS and ADJUSTED EARNINGS PER SHARE (1)
    (in thousands, except per share amounts)
    (unaudited)
     
     Three Months Ended
     December 31, 2024 September 30, 2024 December 31, 2023
     Amount Diluted

    EPS (2)
     Amount Diluted

    EPS (2)
     Amount Diluted

    EPS (2)
    Net loss per share (GAAP)$(10,476) $(0.11) $(2,921) $(0.03) $(57,384) $(0.61)
    Add: Convertible debt interest expense and other income statement impacts, net of tax (2) —     —     566   
    Adjustments           
    Amortization of intangible assets 6,671     6,671     4,775   
    Legacy products revenue reserves (2,100)    —     —   
    Stock-based compensation 1,098     1,296     2,642   
    Change in fair value of contingent consideration (544)    300     (17,414)  
    Contingent consideration cash payable (3) (1,099)    (253)    (2,170)  
    Transaction-related expenses —     —     361   
    Loss on impairment of intangible assets 5,217     —     40,808   
    Restructuring charges —     —     2,442   
    Other (920)    (887)    1,855   
    Increase of deferred tax asset valuation allowance (4) —     —     33,165   
    Income taxes (expense) benefit, as adjusted (5) (776)    (1,782)    1,877   
    Adjusted earnings (Non-GAAP)$(2,929) $(0.03) $2,424  $0.03  $11,523  $0.11 
                
    Diluted shares used in calculation (GAAP) (2) 95,509     95,352     94,669   
    Add: Dilutive effect of stock-based awards and equivalents (2) —     933     325   
    Add: Dilutive effect of 2027 Convertible Notes (2) —     —     9,768   
    Diluted shares used in calculation (Non-GAAP) (2) 95,509     96,285     104,762   
                      



    (1)Certain adjustments included here are the same as those reflected in the Company's reconciliation of GAAP net loss to non-GAAP adjusted EBITDA and therefore should be read in conjunction with that reconciliation and respective footnotes.
      
    (2)The Company uses the if-converted method with respect to its convertible debt to compute GAAP and Non-GAAP diluted earnings per share when the effect is dilutive. Under the if-converted method, the Company assumes the 2027 Convertible Notes were converted at the beginning of each period presented and outstanding. As a result, interest expense, net of tax, and any other income statement impact associated with the 2027 Convertible Notes, net of tax, is added back to net income used in the diluted earnings per share calculation.

      
     For the three months ended December 31, 2024, the Company's potentially dilutive convertible debt under the if-converted method and stock-based awards under the treasury-stock method were not included in either the computation of GAAP net loss and diluted net loss per share or non-GAAP adjusted earnings and adjusted earnings per share because to do so would be anti-dilutive.
      
     For the three months ended September 30, 2024, the Company's potentially dilutive convertible debt under the if-converted method and stock-based awards under the treasury-stock method were not included in the computation of GAAP net loss and diluted net loss per share, and the potentially dilutive convertible debt under the if-converted method were not included in non-GAAP adjusted earnings and adjusted earnings per share, because to do so would be anti-dilutive.
      
     For the three months ended December 31, 2023, the Company's potentially dilutive convertible debt under the if-converted method and stock-based awards under the treasury-stock method were not included in the computation of GAAP net loss and diluted net loss per share, because to do so would be anti-dilutive. However, the Company's potentially dilutive convertible debt under the if-converted method and the potentially dilutive stock-based awards under the treasury-stock method were included in the computation of non-GAAP adjusted earnings and adjusted earnings per share because their effect was dilutive.
      
    (3)Represents the accrued cash payable of the INDOCIN contingent consideration for the respective period based on 20% royalty for annual INDOCIN net sales over $20.0 million.

      
    (4)For the three months ended December 31, 2023, represents the amount of income tax expense related to the recognition of a full valuation allowance against deferred tax assets.

      
    (5)Represents the Company's income tax (expense) benefit adjustment from the tax effect of pre-tax adjustments excluded from adjusted earnings. The tax effect of pre-tax adjustments excluded from adjusted earnings is computed at the blended federal and state statutory rate of 25%.

      



    RECONCILIATION OF GAAP NET LOSS and NET LOSS PER SHARE TO
    NON-GAAP ADJUSTED EARNINGS and ADJUSTED EARNINGS PER SHARE (1)
    (in thousands, except per share amounts)
    (unaudited)
     
     Twelve Months Ended 

    December 31, 2024
     Twelve Months Ended 

    December 31, 2023
     Amount Diluted EPS (2) Amount Diluted EPS (2)
    Net loss (GAAP) (2)$(21,581) $(0.23) $(331,942) $(4.67)
    Add: Convertible debt interest expense and other income statement impacts, net of tax (2) —     2,535   
    Adjustments       
    Amortization of intangible assets 25,644     27,527   
    Legacy products revenue reserves (2,100)    (185)  
    Stock-based compensation 5,009     9,158   
    Debt-related expenses, net —     9,639   
    Change in fair value of contingent consideration (244)    (25,538)  
    Contingent consideration cash payable (3) (1,352)    (13,443)  
    Transaction-related expenses —     8,900   
    Loss on impairment of intangible assets 5,217     279,639   
    Restructuring charges 720     5,476   
    Other 1,203     2,820   
    Increase in deferred tax asset valuation allowance (4) —     76,200   
    Income taxes expense, as adjusted (5) (7,220)    (3,679)  
    Adjusted earnings (Non-GAAP)$5,296  $0.06  $47,107  $0.55 
            
    Diluted shares used in calculation (GAAP) (2) 95,271     71,031   
    Add: Dilutive effect of stock-based awards and equivalents (2) 516     3,054   
    Add: Dilutive effect of 2027 Convertible Notes (2) —     10,932   
    Diluted shares used in calculation (Non-GAAP) (2) 95,787     85,017   
                



    (1)Certain adjustments included here are the same as those reflected in the Company's reconciliation of GAAP net loss to non-GAAP adjusted EBITDA and therefore should be read in conjunction with that reconciliation and respective footnotes.
      
    (2)The Company uses the if-converted method with respect to its convertible debt to compute GAAP and non-GAAP diluted earnings per share when the effect is dilutive. Under the if-converted method, the Company assumes the 2027 Convertible Notes were converted at the beginning of each period presented and outstanding. As a result, interest expense, net of tax, and any other income statement impact associated with the 2027 Convertible Notes, net of tax, is added back to net income used in the diluted earnings per share calculation.
      
     For the twelve months ended December 31, 2024, the Company's potentially dilutive convertible debt under the if-converted method and stock-based awards under the treasury-stock method were not included in the computation of GAAP net loss and diluted net loss per share, and the Company's potentially dilutive convertible debt under the if-converted method were not included in the computation of non-GAAP net loss and diluted net loss per share because to do so would be anti-dilutive. However, the Company's potentially dilutive stock-based awards under the treasury-stock method were included in the computation of non-GAAP adjusted earnings and adjusted earnings per share because their effect was dilutive.
      
     For the twelve months ended December 31, 2023, the Company's potentially dilutive convertible debt under the if-converted method and stock-based awards under the treasury-stock method were not included in the computation of GAAP net loss and diluted net loss per share, because to do so would be anti-dilutive. However, the Company's potentially dilutive convertible debt under the if-converted method and the potentially dilutive stock-based awards under the treasury-stock method were included in the computation of non-GAAP adjusted earnings and adjusted earnings per share because their effect was dilutive.

      
    (3)Represents the accrued cash payable, if any, of the INDOCIN contingent consideration for the respective period based on 20% royalty for annual INDOCIN net sales over $20.0 million.

      
    (4)For the twelve months ended December 31, 2023, represents the amount of income tax expense related to the recognition of a full valuation allowance against deferred tax assets.

      
    (5)Represents the Company's income tax expense adjustment from the tax effect of pre-tax adjustments excluded from adjusted earnings. The tax effect of pre-tax adjustments excluded from adjusted earnings is computed at the blended federal and state statutory rate of 25%.


    Primary Logo

    Get the next $ASRT alert in real time by email

    Chat with this insight

    Save time and jump to the most important pieces.

    Recent Analyst Ratings for
    $ASRT

    DatePrice TargetRatingAnalyst
    7/26/2024$3.00Buy
    Maxim Group
    7/3/2024$4.00Buy
    H.C. Wainwright
    11/7/2022$7.00Buy
    Lake Street
    More analyst ratings

    $ASRT
    Press Releases

    Fastest customizable press release news feed in the world

    See more
    • Assertio Holdings, Inc. to Report First Quarter 2025 Financial Results on May 12, 2025

      LAKE FOREST, Ill., May 05, 2025 (GLOBE NEWSWIRE) -- Assertio Holdings, Inc. ("Assertio" or the "Company") (NASDAQ:ASRT) today announced that it will release first quarter 2025 financial results on Monday, May 12, 2025, after the market close. Additionally, Assertio's management will host a live webcast conference call at 4:30 p.m. Eastern Time to discuss the financial results and update the Company's 2025 strategic plans. To access the live webcast, conference call information, and other materials, please visit Assertio's investor relations website at http://investor.assertiotx.com/overview/default.aspx. Please connect at least 10 minutes prior to the live webcast to ensure adequate tim

      5/5/25 8:15:00 AM ET
      $ASRT
      Biotechnology: Pharmaceutical Preparations
      Health Care
    • Assertio to Participate in the iAccess Alpha Virtual Best Ideas Conference on March 25-26, 2025

      LAKE FOREST, Ill., March 20, 2025 (GLOBE NEWSWIRE) -- Assertio Holdings, Inc. ("Assertio" or the "Company") (NASDAQ:ASRT) today announced that Brendan O'Grady, Chief Executive Officer, will present at the iAccess Alpha Best Ideas Spring Investment Conference taking place virtually March 25-26, 2025. The Company will present at 1:30 pm Eastern Time on Tuesday, March 25, 2025. To join the presentation, please visit the webcast available online at https://investor.assertiotx.com/. Additionally, investors participating in the conference can request 1x1 meetings to take place on March 26, 2025 via their conference representative or through Assertio investor relations at [email protected]. T

      3/20/25 9:10:00 AM ET
      $ASRT
      Biotechnology: Pharmaceutical Preparations
      Health Care
    • Assertio Reports Fourth Quarter and Full Year 2024 Financial Results

      Fourth Quarter Net Product Sales $29.6 Million, Cash Flow from Operations of $11.5 Million Full Year Net Product Sales $120.8 Million, Rolvedon Sales Exceed $60.0 Million Full Year Cash Flow from Operations of $26.4 Million, Cash and Investments Increases to $100.1 Million LAKE FOREST, Ill., March 12, 2025 (GLOBE NEWSWIRE) -- Assertio Holdings, Inc. ("Assertio" or the "Company") (NASDAQ:ASRT) today reported financial results for the fourth quarter and full year ended December 31, 2024. Said Brendan O'Grady, Chief Executive Officer, "In line with our strategy for Assertio's long-term growth, 2024 was a year of stabilization as we transitioned to Rolvedon as our primary a

      3/12/25 4:05:00 PM ET
      $ASRT
      Biotechnology: Pharmaceutical Preparations
      Health Care

    $ASRT
    Insider Purchases

    Insider purchases reveal critical bullish sentiment about the company from key stakeholders. See them live in this feed.

    See more
    • Director Mason Heather L bought $60,000 worth of shares (75,000 units at $0.80), increasing direct ownership by 35% to 287,650 units (SEC Form 4)

      4 - Assertio Holdings, Inc. (0001808665) (Issuer)

      11/19/24 9:02:18 AM ET
      $ASRT
      Biotechnology: Pharmaceutical Preparations
      Health Care
    • CEO O'Grady Brendan P. bought $9,950 worth of shares (11,706 units at $0.85) (SEC Form 4)

      4 - Assertio Holdings, Inc. (0001808665) (Issuer)

      11/15/24 2:43:25 PM ET
      $ASRT
      Biotechnology: Pharmaceutical Preparations
      Health Care
    • Director Vacirca Jeff L bought $11,100 worth of shares (10,000 units at $1.11), increasing direct ownership by 7% to 151,159 units (SEC Form 4)

      4 - Assertio Holdings, Inc. (0001808665) (Issuer)

      6/12/24 6:00:09 PM ET
      $ASRT
      Biotechnology: Pharmaceutical Preparations
      Health Care

    $ASRT
    Financials

    Live finance-specific insights

    See more
    • Assertio Holdings, Inc. to Report First Quarter 2025 Financial Results on May 12, 2025

      LAKE FOREST, Ill., May 05, 2025 (GLOBE NEWSWIRE) -- Assertio Holdings, Inc. ("Assertio" or the "Company") (NASDAQ:ASRT) today announced that it will release first quarter 2025 financial results on Monday, May 12, 2025, after the market close. Additionally, Assertio's management will host a live webcast conference call at 4:30 p.m. Eastern Time to discuss the financial results and update the Company's 2025 strategic plans. To access the live webcast, conference call information, and other materials, please visit Assertio's investor relations website at http://investor.assertiotx.com/overview/default.aspx. Please connect at least 10 minutes prior to the live webcast to ensure adequate tim

      5/5/25 8:15:00 AM ET
      $ASRT
      Biotechnology: Pharmaceutical Preparations
      Health Care
    • Assertio Reports Fourth Quarter and Full Year 2024 Financial Results

      Fourth Quarter Net Product Sales $29.6 Million, Cash Flow from Operations of $11.5 Million Full Year Net Product Sales $120.8 Million, Rolvedon Sales Exceed $60.0 Million Full Year Cash Flow from Operations of $26.4 Million, Cash and Investments Increases to $100.1 Million LAKE FOREST, Ill., March 12, 2025 (GLOBE NEWSWIRE) -- Assertio Holdings, Inc. ("Assertio" or the "Company") (NASDAQ:ASRT) today reported financial results for the fourth quarter and full year ended December 31, 2024. Said Brendan O'Grady, Chief Executive Officer, "In line with our strategy for Assertio's long-term growth, 2024 was a year of stabilization as we transitioned to Rolvedon as our primary a

      3/12/25 4:05:00 PM ET
      $ASRT
      Biotechnology: Pharmaceutical Preparations
      Health Care
    • Assertio Holdings, Inc. to Report Fourth Quarter and Full Year 2024 Financial Results on March 12, 2025

      LAKE FOREST, Ill., March 05, 2025 (GLOBE NEWSWIRE) -- Assertio Holdings, Inc. ("Assertio" or the "Company") (NASDAQ:ASRT) today announced that it will release fourth quarter and full year 2024 financial results on Wednesday, March 12, 2025, after the market close. Following the release of its financial results, Assertio's management will host a live webcast of the earnings conference call at 4:30 p.m. Eastern Time. To access the live webcast, conference call information, and other materials, please visit Assertio's investor relations website at http://investor.assertiotx.com/overview/default.aspx. Please connect at least 10 minutes prior to the live webcast to ensure adequate time for a

      3/5/25 4:05:00 PM ET
      $ASRT
      Biotechnology: Pharmaceutical Preparations
      Health Care

    $ASRT
    SEC Filings

    See more
    • SEC Form DEF 14A filed by Assertio Holdings Inc.

      DEF 14A - Assertio Holdings, Inc. (0001808665) (Filer)

      4/8/25 4:40:37 PM ET
      $ASRT
      Biotechnology: Pharmaceutical Preparations
      Health Care
    • SEC Form PRE 14A filed by Assertio Holdings Inc.

      PRE 14A - Assertio Holdings, Inc. (0001808665) (Filer)

      3/25/25 5:24:21 PM ET
      $ASRT
      Biotechnology: Pharmaceutical Preparations
      Health Care
    • SEC Form 10-K filed by Assertio Holdings Inc.

      10-K - Assertio Holdings, Inc. (0001808665) (Filer)

      3/12/25 5:14:59 PM ET
      $ASRT
      Biotechnology: Pharmaceutical Preparations
      Health Care

    $ASRT
    Insider purchases explained

    Analytical look into recent insider purchases

    See more
    • Insider Analysis: Purchase at Assertio Holdings Inc. on Jun 6

      Recent insider transactions at Assertio Holdings Inc. have brought attention to the company's stock activity. On June 6, 2024, Mason Heather L purchased $24,250 worth of shares, acquiring 25,000 units at $0.97 per share. This transaction increased Mason Heather L's direct ownership by 13% to 212,650 units, as reported in the SEC Form 4. Several other notable insider transactions have taken place at Assertio Holdings Inc. leading up to this purchase. Patel Ajay, Schwichtenberg Paul, and Schlessinger Sam all converted options into shares and covered exercise/tax liability by utilizing their shares. These transactions resulted in ownership increases of 16%, 20%, and 21%, respectively. Addition

      6/10/24 1:20:50 AM ET
      $ASRT
      Biotechnology: Pharmaceutical Preparations
      Health Care

    $ASRT
    Analyst Ratings

    Analyst ratings in real time. Analyst ratings have a very high impact on the underlying stock. See them live in this feed.

    See more
    • Maxim Group initiated coverage on Assertio Therapeutics with a new price target

      Maxim Group initiated coverage of Assertio Therapeutics with a rating of Buy and set a new price target of $3.00

      7/26/24 7:49:44 AM ET
      $ASRT
      Biotechnology: Pharmaceutical Preparations
      Health Care
    • H.C. Wainwright initiated coverage on Assertio Therapeutics with a new price target

      H.C. Wainwright initiated coverage of Assertio Therapeutics with a rating of Buy and set a new price target of $4.00

      7/3/24 7:25:55 AM ET
      $ASRT
      Biotechnology: Pharmaceutical Preparations
      Health Care
    • Lake Street initiated coverage on Assertio Therapeutics with a new price target

      Lake Street initiated coverage of Assertio Therapeutics with a rating of Buy and set a new price target of $7.00

      11/7/22 9:24:08 AM ET
      $ASRT
      Biotechnology: Pharmaceutical Preparations
      Health Care

    $ASRT
    Insider Trading

    Insider transactions reveal critical sentiment about the company from key stakeholders. See them live in this feed.

    See more
    • SVP, General Counsel Schlessinger Sam converted options into 17,150 shares and covered exercise/tax liability with 7,656 shares, increasing direct ownership by 7% to 153,889 units (SEC Form 4)

      4 - Assertio Holdings, Inc. (0001808665) (Issuer)

      2/25/25 6:03:18 PM ET
      $ASRT
      Biotechnology: Pharmaceutical Preparations
      Health Care
    • Officer Schwichtenberg Paul converted options into 17,150 shares and covered exercise/tax liability with 8,505 shares, increasing direct ownership by 6% to 146,345 units (SEC Form 4)

      4 - Assertio Holdings, Inc. (0001808665) (Issuer)

      2/25/25 6:02:00 PM ET
      $ASRT
      Biotechnology: Pharmaceutical Preparations
      Health Care
    • SVP and CFO Patel Ajay converted options into 17,150 shares and covered exercise/tax liability with 8,505 shares, increasing direct ownership by 5% to 175,675 units (SEC Form 4)

      4 - Assertio Holdings, Inc. (0001808665) (Issuer)

      2/25/25 6:00:12 PM ET
      $ASRT
      Biotechnology: Pharmaceutical Preparations
      Health Care

    $ASRT
    Leadership Updates

    Live Leadership Updates

    See more
    • Assertio Holdings, Inc. Appoints Mark Reisenauer to Its Board of Directors

      LAKE FOREST, Ill., Dec. 17, 2024 (GLOBE NEWSWIRE) -- Assertio Holdings, Inc. ("Assertio" or the "Company") (NASDAQ:ASRT), a pharmaceutical company with comprehensive commercial capabilities offering differentiated products to patients, announced today that Mark Reisenauer has been appointed as an independent director to the Company's Board of Directors. Mr. Reisenauer will serve as a member of the Compensation Committee. "Mark is a highly accomplished commercial leader in complex, competitive therapeutic areas who also brings extensive oncology and hematology product experience to our board," said Heather Mason, Chair of Assertio. "His successful new product and indication launches have b

      12/17/24 8:30:00 AM ET
      $ASRT
      Biotechnology: Pharmaceutical Preparations
      Health Care
    • Assertio Holdings, Inc. Appoints Paul Schwichtenberg to New CTO Role, Mary Pietryga as CCO

      LAKE FOREST, Ill., Dec. 12, 2024 (GLOBE NEWSWIRE) -- Assertio Holdings, Inc. ("Assertio" or the "Company") (NASDAQ:ASRT), a pharmaceutical company with comprehensive commercial capabilities offering differentiated products to patients, announced today the creation of a new Transformation Office and the appointment of Paul Schwichtenberg as Chief Transformation Officer (CTO). Mr. Schwichtenberg currently serves as the company's Chief Commercial Officer and was previously CFO. "As CTO, Paul will be future looking, working closely with me, to identify synergies, innovative strategies, and new revenue streams to best position the company for future growth," said Brendan O'Grady, Chief Executi

      12/12/24 8:00:00 AM ET
      $ASRT
      Biotechnology: Pharmaceutical Preparations
      Health Care
    • Beam Therapeutics Announces Appointment of Sravan Emany as Chief Financial Officer

      CAMBRIDGE, Mass., Dec. 06, 2024 (GLOBE NEWSWIRE) -- Beam Therapeutics Inc. (NASDAQ:BEAM), a biotechnology company developing precision genetic medicines through base editing, today announced the appointment of Sravan K. Emany as chief financial officer (CFO), effective December 19, 2024. Mr. Emany brings to Beam a breadth of global operational, commercial and financial experience with multinational public corporations and financial institutions. He most recently served as CFO and chief operating officer at Ironwood Pharmaceuticals, Inc. "Beam has built a strong financial position to advance our portfolio of genetic medicines, and Sravan has an exceptional background to lead our capital fo

      12/6/24 7:00:00 AM ET
      $ASRT
      $BEAM
      Biotechnology: Pharmaceutical Preparations
      Health Care
      Biotechnology: Biological Products (No Diagnostic Substances)

    $ASRT
    Large Ownership Changes

    This live feed shows all institutional transactions in real time.

    See more
    • Amendment: SEC Form SC 13G/A filed by Assertio Holdings Inc.

      SC 13G/A - Assertio Holdings, Inc. (0001808665) (Subject)

      11/14/24 3:52:50 PM ET
      $ASRT
      Biotechnology: Pharmaceutical Preparations
      Health Care
    • Amendment: SEC Form SC 13G/A filed by Assertio Holdings Inc.

      SC 13G/A - Assertio Holdings, Inc. (0001808665) (Subject)

      11/12/24 1:34:28 PM ET
      $ASRT
      Biotechnology: Pharmaceutical Preparations
      Health Care
    • Amendment: SEC Form SC 13G/A filed by Assertio Holdings Inc.

      SC 13G/A - Assertio Holdings, Inc. (0001808665) (Subject)

      11/4/24 11:29:13 AM ET
      $ASRT
      Biotechnology: Pharmaceutical Preparations
      Health Care