Alkermes plc. (ALKS) FY2021 results: revenue $1.2 billion, up 13.0% on the year

Alkermes plc. (ALKS) reported revenue of $1.2 billion for fiscal 2021, the year ended 31 December 2021, up 13.0% on the year before. Net income was -$48 million, and diluted earnings per share $-0.30. The figures are the company's own, from the 10-K it filed with the SEC on 16 February 2022.

Revenue

$1.2 billion

+13.0% on the year

FY2014FY2021

Operating margin

8.3%

-10.8% a year earlier

FY2014FY2021

Net income

-$48 million

FY2014FY2021

Diluted EPS

-$0.30

FY2014FY2021

this yearthe year beforeHover a bar for its figure.

The year in brief

The quarters: Q4 FY2021

Income statement (profit and loss)

$ million	FY2021	FY2020	FY2019	On the year
Revenue	1,174	1,039	1,171	+13.0%
Cost of revenue	197	178	180	+10.7%
Gross profit	976	860	991	+13.5%
Gross margin	83.2%	82.8%	84.6%
Research and development	291	395	513	-26.3%
Selling, general and administrative	550	539	599	+2.0%
Operating income	97.7	-112	-175
Operating margin	8.3%	-10.8%	-15.0%
Interest expense	11.2	8.7	13.6	+29.6%
Pre-tax income	87.7	-96.5	-197
Income tax	11.3	14.3	-0.4	-20.9%
Effective tax rate	12.9%	n/a	n/a
Net income	-48.2	-111	-197
Net margin	-4.1%	-10.7%	-16.8%
Diluted EPS	-$0.30	-$0.70	-$1.25

$ 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	FY2021	FY2020	FY2019	On the year
Operating cash flow	102	82.8	72.1	+22.8%
Capital expenditure	28.0	42.2	90.9	-33.6%
Free cash flow	73.7	40.6	-18.9	+81.4%
Free cash flow margin	6.3%	3.9%	-1.6%
Cash from investing	-66.2	-11.5	-142
Cash from financing	29.1	-2.2	6.8
Depreciation and amortisation	78.7	81.9	80.4	-3.9%
Share-based compensation	87.6	90.2	101	-2.8%
Diluted shares, weighted	161m	159m	n/a	+1.3%
Shares outstanding at period end	162m	159m	158m	+1.7%

Balance sheet

$ million	FY2021	FY2020	FY2019	On the year
Shareholders' equity	1,113	1,067	1,085	+4.3%
Debt	296	275	277	+7.6%
Operating lease liabilities	104	119	5.3	-12.8%
Other liabilities	512	488	437	+4.8%
Total liabilities and equity	2,024	1,950	1,805	+3.8%
Fixed assets	341	350	362	-2.6%
Goodwill	92.9	92.9	92.9	0.0%
Intangible assets	74.0	111	151	-33.4%
Investments	428	387	411	+10.7%
Cash and equivalents	338	273	204	+23.7%
Receivables	313	275	257	+13.8%
Inventory	150	126	102	+19.6%
Other assets	287	335	226	-14.2%
Total assets	2,024	1,950	1,805	+3.8%

10-K for the year ended 31 December 2021, filed 16 February 2022: the filing.