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Acadia Pharmaceuticals (ACAD) Q2 FY2024 earnings: revenue $242 million, up 46.4% on the year

Acadia Pharmaceuticals Inc. (ACAD) reported revenue of $242 million for Q2 FY2024, the quarter ended 30 June 2024, up 46.4% on the same quarter a year earlier. Net income was $33 million, up 2897.2% on the year, and diluted earnings per share $0.20. The figures are the company's own, from the 10-Q it filed with the SEC on 7 August 2024.

Revenue$242 millionup 46.4%
Net income$33 millionup 2897.2%
Diluted EPS$0.20
QuarterQ2 FY2024ended 30 June 2024

The quarter, against the one before and a year earlier

LineQ2 FY2024Q1 FY2024A year earlierChange on the year
Revenue242206n/an/a
Cost of revenue18.223.0n/an/a
Gross profit224183n/an/a
Gross margin92.5%88.8%n/a
Research and development76.259.7n/an/a
Selling, general and administrative117108n/an/a
Operating income30.415.2n/an/a
Operating margin12.6%7.4%n/a
Pre-tax income37.221.0n/an/a
Income tax3.84.4n/an/a
Effective tax rate10.2%21.2%n/a
Net income33.416.6n/an/a
Net margin13.8%8.0%n/a
Diluted EPS$0.20$0.10n/an/a
$ million except per share.
Read moreFree cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.

Cash flow and capital returned

LineQ2 FY2024Q1 FY2024A year earlierChange on the year
Operating cash flow25.029.1n/an/a
Cash from investing-56.2-14.0n/an/a
Cash from financing3.61.0n/an/a
Depreciation and amortisation2.65.5n/an/a
Share-based compensation15.714.8n/an/a
Diluted shares, weighted166m167mn/an/a
Shares outstanding at period end166m165mn/an/a

Cash flow lines for the quarter; where the company files them year to date, the quarter is the difference between two filings.

Balance sheet at quarter end

LineQ2 FY2024Q1 FY2024A year earlierChange on the year
Shareholders' equity517464n/an/a
Debt0.00.0n/an/a
Operating lease liabilities47.249.2n/an/a
Other liabilities350342n/an/a
Total liabilities and equity914855n/an/a
Fixed assets4.14.4n/an/a
Intangible assets108110n/an/a
Investments324266n/an/a
Cash and equivalents177205n/an/a
Receivables10494.7n/an/a
Inventory86.166.6n/an/a
Other assets111109n/an/a
Total assets914855n/an/a

Questions

What was Acadia Pharmaceuticals' revenue in Q2 FY2024?

Acadia Pharmaceuticals (ACAD) reported revenue of $242 million for Q2 FY2024, the quarter ended 30 June 2024, up 46.4% on the same quarter a year earlier.

How much did Acadia Pharmaceuticals earn in Q2 FY2024?

Net income for Q2 FY2024 was $33 million, up 2897.2% on the year, and diluted earnings per share $0.20.

When did Acadia Pharmaceuticals report Q2 FY2024 results?

Acadia Pharmaceuticals filed its 10-Q for the quarter ended 30 June 2024 with the SEC on 7 August 2024.

Quarterly results, the last 12 quarters

Q3 FY2023Q4 FY2023Q1 FY2024Q2 FY2024Q3 FY2024Q4 FY2024 *Q1 FY2025Q2 FY2025Q3 FY2025Q4 FY2025 *Q1 FY2026Q2 FY2026
Revenue212231206242250260244265279284268308
Cost of revenue14.617.923.018.218.921.820.420.721.626.224.828.3
Gross profit197213183224232238224244257258243280
Gross margin93%92%89%92%92%92%92%92%92%91%91%91%
R&D15766.759.776.266.610178.378.087.884.876.981.6
SG&A97.9111108117133130126134133156171160
Operating income-57.834.915.230.431.615419.332.435.817.4-4.637.8
Operating margin-27%15%7%13%13%59%8%12%13%6%-2%12%
Pre-tax income-52.139.721.037.238.816127.840.244.626.34.046.5
Tax raten/a-15%21%10%16%11%32%34%-61%-939%9%32%
Net income-65.245.816.633.432.814419.026.771.82743.631.5
Net margin-31%20%8%14%13%55%8%10%26%96%1%10%
Diluted EPS-$0.40$0.28$0.10$0.20$0.20$0.86$0.11$0.16$0.42$1.60$0.02$0.18
Operating cash flow-59.085.429.125.063.240.420.364.074.3-48.734.0101
Capital expendituren/an/an/an/a0.1n/a0.00.30.44.05.25.1
Free cash flown/an/an/an/a63.2n/a20.363.773.9-52.728.895.7
Shares outstanding164m165m165m166m166m167m167m169m169m170m171m172m
Filing10-K10-K10-Q10-Q10-Q10-K10-Q10-Q10-Q10-K10-Q10-Q
Each quarter as filed, linked to its filing.
Read more* The fourth quarter is the full year less the first three quarters, because the company files the year and not the quarter on its own. A fourth quarter's EPS and diluted share count are from the company's results press release for that quarter, used where the release gives the same revenue and net income as the table. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and the share count are as they are. Free cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Cash flow lines filed year to date are the difference between two filings. Shares outstanding are at the period end where the balance sheet tags them, otherwise the count on the filing's cover page. A derived fourth-quarter EPS is left blank when a split in the year makes the arithmetic meaningless.

Source

10-Q for the period ended 30 June 2024, filed 7 August 2024, accession 0000950170-24-092163: the filing on EDGAR. All of Acadia Pharmaceuticals Inc.'s filings: EDGAR company page.

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