Alkermes plc. (ALKS) FY2022 results: revenue $1.1 billion, down 5.3% on the year

Alkermes plc. (ALKS) reported revenue of $1.1 billion for fiscal 2022, the year ended 31 December 2022, down 5.3% on the year before. Net income was -$158 million, and diluted earnings per share $-0.97. The figures are the company's own, from the 10-K it filed with the SEC on 16 February 2023.

Revenue

$1.1 billion

-5.3% on the year

FY2015FY2022

Operating margin

-0.5%

8.3% a year earlier

FY2015FY2022

Net income

-$158 million

FY2015FY2022

Diluted EPS

-$0.97

FY2015FY2022

this yearthe year beforeHover a bar for its figure.

The year in brief

The four quarters: Q1 FY2022 · Q2 FY2022 · Q3 FY2022 · Q4 FY2022

Income statement (profit and loss)

$ million	FY2022	FY2021	FY2020	On the year
Revenue	1,112	1,174	1,039	-5.3%
Cost of revenue	218	197	178	+10.5%
Gross profit	894	976	860	-8.5%
Gross margin	80.4%	83.2%	82.8%
Research and development	273	291	395	-6.3%
Selling, general and administrative	591	550	539	+7.5%
Operating income	-6.1	97.7	-112
Operating margin	-0.5%	8.3%	-10.8%
Interest expense	13.0	11.2	8.7	+16.2%
Pre-tax income	-31.1	87.7	-96.5
Income tax	2.0	11.3	14.3	-82.1%
Effective tax rate	n/a	12.9%	n/a
Net income	-158	-48.2	-111
Net margin	-14.2%	-4.1%	-10.7%
Diluted EPS	-$0.97	-$0.30	-$0.70

$ 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	FY2022	FY2021	FY2020	On the year
Operating cash flow	21.0	102	82.8	-79.3%
Capital expenditure	38.3	28.0	42.2	+36.5%
Free cash flow	-17.2	73.7	40.6
Free cash flow margin	-1.5%	6.3%	3.9%
Cash from investing	-64.5	-66.2	-11.5
Cash from financing	-1.6	29.1	-2.2
Depreciation and amortisation	77.9	78.7	81.9	-1.0%
Share-based compensation	94.3	87.6	90.2	+7.6%
Diluted shares, weighted	164m	161m	159m	+1.6%
Shares outstanding at period end	164m	162m	159m	+1.5%

Balance sheet

$ million	FY2022	FY2021	FY2020	On the year
Shareholders' equity	1,044	1,113	1,067	-6.2%
Debt	293	296	275	-0.9%
Operating lease liabilities	76.3	104	119	-26.8%
Other liabilities	551	512	488	+7.6%
Total liabilities and equity	1,964	2,024	1,950	-3.0%
Fixed assets	223	341	350	-34.6%
Goodwill	83.0	92.9	92.9	-10.6%
Intangible assets	37.7	74.0	111	-49.1%
Investments	448	428	387	+4.5%
Cash and equivalents	292	338	273	-13.4%
Receivables	288	313	275	-8.1%
Inventory	181	150	126	+20.7%
Other assets	411	287	335	+43.0%
Total assets	1,964	2,024	1,950	-3.0%

10-K for the year ended 31 December 2022, filed 16 February 2023: the filing.