ANI Pharmaceuticals (ANIP) FY2022 results: revenue $316 million, up 46.4% on the year

ANI Pharmaceuticals Inc. (ANIP) reported revenue of $316 million for fiscal 2022, the year ended 31 December 2022, up 46.4% on the year before. Net income was -$48 million, and diluted earnings per share $-3.05. The figures are the company's own, from the 10-K it filed with the SEC on 9 March 2023.

Revenue

$316 million

+46.4% on the year

FY2015FY2022

Operating margin

-11.2%

-18.4% a year earlier

FY2015FY2022

Net income

-$48 million

FY2015FY2022

Diluted EPS

-$3.05

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	316	216	208	+46.4%
Cost of revenue	139	101	87.2	+37.9%
Gross profit	178	116	121	+53.7%
Gross margin	56.1%	53.5%	58.2%
Research and development	22.3	11.4	16.0	+96.3%
Selling, general and administrative	124	84.3	65.0	+47.2%
Operating income	-35.3	-39.8	-16.0
Operating margin	-11.2%	-18.4%	-7.7%
Interest expense	28.5	11.9	9.5	+138.7%
Pre-tax income	-62.7	-56.1	-26.0
Income tax	-14.8	-13.5	-3.4
Net income	-47.9	-42.6	-22.5
Net margin	-15.1%	-19.7%	-10.8%
Diluted EPS	-$3.05	-$3.40	-$1.88

$ 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	-31.2	3.3	15.3
Capital expenditure	8.9	2.6	6.1	+247.1%
Free cash flow	-40.1	0.8	9.1
Free cash flow margin	-12.7%	0.4%	4.4%
Cash from investing	-15.7	-105	-68.3
Cash from financing	-5.1	195	-1.4
Depreciation and amortisation	57.0	47.3	44.6	+20.6%
Share-based compensation	14.6	10.5	12.9	+39.2%
Buybacks	2.0	0.9	1.5	+120.1%
Dividends paid	1.6	0.2	0.0	+755.3%
Diluted shares, weighted	16m	13m	12m	+29.1%

Balance sheet

$ million	FY2022	FY2021	FY2020	On the year
Shareholders' equity	314	334	196	-6.0%
Redeemable equity	24.9	24.9	0.0	0.0%
Debt	287	287	186	-0.3%
Operating lease liabilities	1.4	1.0	0.2	+38.8%
Other liabilities	134	124	79.6	+7.4%
Total liabilities and equity	760	772	461	-1.5%
Fixed assets	43.2	52.7	41.3	-17.9%
Goodwill	28.2	27.9	3.6	+1.2%
Intangible assets	252	294	189	-14.4%
Cash and equivalents	48.2	100	7.9	-51.9%
Receivables	165	129	95.8	+28.7%
Inventory	105	81.7	60.8	+29.0%
Other assets	118	86.4	63.4	+36.5%
Total assets	760	772	461	-1.5%

10-K for the year ended 31 December 2022, filed 9 March 2023: the filing.