Alkermes plc. (ALKS) FY2024 results: revenue $1.6 billion, down 6.4% on the year

Alkermes plc. (ALKS) reported revenue of $1.6 billion for fiscal 2024, the year ended 31 December 2024, down 6.4% on the year before. Net income was $367 million, up 3.2%, and diluted earnings per share $2.17. The figures are the company's own, from the 10-K it filed with the SEC on 12 February 2025.

Revenue

$1.6 billion

-6.4% on the year

FY2017FY2024

Operating margin

27.0%

24.9% a year earlier

FY2017FY2024

Net income

$367 million

+3.2% on the year

FY2017FY2024

Diluted EPS

$2.17

+3.3% on the year

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	1,558	1,663	1,112	-6.4%
Cost of revenue	245	253	218	-3.0%
Gross profit	1,312	1,410	894	-7.0%
Gross margin	84.2%	84.8%	80.4%
Research and development	245	271	273	-9.4%
Selling, general and administrative	645	690	591	-6.5%
Operating income	421	414	-6.1	+1.6%
Operating margin	27.0%	24.9%	-0.5%
Interest expense	22.6	23.0	13.0	-2.0%
Pre-tax income	444	422	-31.1	+5.3%
Income tax	71.6	-97.6	2.0
Effective tax rate	16.1%	-23.2%	n/a
Net income	367	356	-158	+3.2%
Net margin	23.6%	21.4%	-14.2%
Diluted EPS	$2.17	$2.10	-$0.97	+3.3%

$ 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	439	401	21.0	+9.4%
Capital expenditure	33.5	48.0	38.3	-30.3%
Free cash flow	406	353	-17.2	+14.8%
Free cash flow margin	26.0%	21.2%	-1.5%
Cash from investing	-111	53.4	-64.5
Cash from financing	-494	-290	-1.6
Depreciation and amortisation	28.5	74.9	77.9	-61.9%
Share-based compensation	96.6	101	94.3	-4.2%
Buybacks	200	n/a	n/a
Diluted shares, weighted	169m	170m	164m	-0.3%
Shares outstanding at period end	162m	167m	164m	-2.9%

Balance sheet

$ million	FY2024	FY2023	FY2022	On the year
Shareholders' equity	1,465	1,203	1,044	+21.8%
Debt	0.0	291	293
Operating lease liabilities	69.4	75.7	76.3	-8.4%
Other liabilities	521	567	551	-8.1%
Total liabilities and equity	2,056	2,136	1,964	-3.8%
Fixed assets	228	227	223	+0.3%
Goodwill	83.0	83.0	83.0	0.0%
Intangible assets	0.9	2.0	37.7	-55.3%
Investments	534	356	448	+49.9%
Cash and equivalents	291	457	292	-36.4%
Receivables	385	332	288	+15.7%
Inventory	183	186	181	-1.9%
Other assets	352	492	411	-28.5%
Total assets	2,056	2,136	1,964	-3.8%

10-K for the year ended 31 December 2024, filed 12 February 2025: the filing.