Acadia Pharmaceuticals (ACAD) FY2024 results: revenue $958 million, up 31.8% on the year

Acadia Pharmaceuticals Inc. (ACAD) reported revenue of $958 million for fiscal 2024, the year ended 31 December 2024, up 31.8% on the year before. Net income was $226 million, and diluted earnings per share $1.36. The figures are the company's own, from the 10-K it filed with the SEC on 27 February 2025.

Revenue

$958 million

+31.8% on the year

FY2017FY2024

Operating margin

24.1%

-10.1% a year earlier

FY2017FY2024

Net income

$226 million

FY2017FY2024

Diluted EPS

$1.36

FY2017FY2024

this yearthe year beforeHover a bar for its figure.

The year in brief

The four quarters: Q1 FY2024 · Q2 FY2024 · Q3 FY2024 · Q4 FY2024

Income statement (profit and loss)

$ million	FY2024	FY2023	FY2022	On the year
Revenue	958	726	517	+31.8%
Cost of revenue	81.8	41.6	10.2	+96.6%
Gross profit	876	685	507	+27.9%
Gross margin	91.5%	94.3%	98.0%
Research and development	303	352	362	-13.8%
Selling, general and administrative	488	407	369	+20.1%
Operating income	231	-73.4	-224
Operating margin	24.1%	-10.1%	-43.2%
Pre-tax income	258	-51.0	-213
Income tax	31.6	10.2	2.5	+208.5%
Effective tax rate	12.3%	n/a	n/a
Net income	226	-61.3	-216
Net margin	23.6%	-8.4%	-41.8%
Diluted EPS	$1.36	-$0.37	-$1.34

$ million except per share.

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. 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

$ million	FY2024	FY2023	FY2022	On the year
Operating cash flow	158	16.7	-114	+844.3%
Capital expenditure	0.5	0.1	0.0	+946.0%
Free cash flow	157	16.7	-114	+844.0%
Free cash flow margin	16.4%	2.3%	-22.0%
Cash from investing	-30.5	32.0	73.2
Cash from financing	6.8	25.1	8.2	-72.8%
Depreciation and amortisation	15.9	5.6	2.0	+186.1%
Share-based compensation	67.0	66.4	68.2	+0.9%
Diluted shares, weighted	166m	164m	162m	+1.6%
Shares outstanding at period end	167m	165m	162m	+1.3%

Balance sheet

$ million	FY2024	FY2023	FY2022	On the year
Shareholders' equity	733	432	400	+69.7%
Debt	0.0	0.0	0.0
Operating lease liabilities	42.0	47.8	52.7	-12.1%
Other liabilities	413	269	135	+53.3%
Total liabilities and equity	1,188	749	588	+58.6%
Fixed assets	4.2	4.6	6.0	-8.6%
Intangible assets	120	65.5	0.0	+82.9%
Investments	436	250	302	+74.4%
Cash and equivalents	320	189	115	+69.4%
Receivables	98.7	98.3	62.2	+0.5%
Inventory	91.7	40.4	11.6	+126.7%
Other assets	117	101	91.2	+15.9%
Total assets	1,188	749	588	+58.6%

10-K for the year ended 31 December 2024, filed 27 February 2025: the filing.