Lantheus Holdings (LNTH) FY2022 results: revenue $935 million, up 119.9% on the year

Lantheus Holdings, Inc. (LNTH) reported revenue of $935 million for fiscal 2022, the year ended 31 December 2022, up 119.9% on the year before. Net income was $28 million, and diluted earnings per share $0.40. The figures are the company's own, from the 10-K it filed with the SEC on 23 February 2023.

Revenue

$935 million

+119.9% on the year

FY2015FY2022

Operating margin

3.9%

-14.3% a year earlier

FY2015FY2022

Net income

$28 million

FY2015FY2022

Diluted EPS

$0.40

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	935	425	339	+119.9%
Cost of revenue	353	238	201	+48.8%
Gross profit	582	188	139	+209.9%
Gross margin	62.2%	44.1%	40.9%
Research and development	312	45.0	32.8	+593.1%
Operating income	36.2	-60.8	-4.2
Operating margin	3.9%	-14.3%	-1.2%
Interest expense	7.2	7.8	9.5	-7.3%
Pre-tax income	26.7	-75.0	-11.5
Income tax	-1.3	-3.8	2.0
Effective tax rate	-5.0%	n/a	n/a
Net income	28.1	-71.3	-13.5
Net margin	3.0%	-16.8%	-4.0%
Diluted EPS	$0.40	-$1.06	-$0.25

$ 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	FY2022	FY2021	FY2020	On the year
Operating cash flow	282	53.9	16.4	+422.6%
Capital expenditure	260	0.0	0.0
Free cash flow	21.8	53.9	16.4	-59.6%
Free cash flow margin	2.3%	12.7%	4.8%
Cash from investing	-277	3.7	-4.9
Cash from financing	312	-39.3	-21.9
Depreciation and amortisation	47.9	42.3	23.3	+13.3%
Share-based compensation	29.3	15.9	14.1	+83.6%
Buybacks	75.0	0.0	0.0
Diluted shares, weighted	71m	67m	54m	+4.7%
Shares outstanding at period end	69m	68m	67m	+1.6%

Balance sheet

$ million	FY2022	FY2021	FY2020	On the year
Shareholders' equity	447	464	514	-3.7%
Debt	558	175	218	+219.3%
Operating lease liabilities	25.4	16.5	17.5	+53.8%
Finance lease liabilities	0.2	0.3	0.2	-22.7%
Other liabilities	290	208	119	+39.8%
Total liabilities and equity	1,321	864	870	+53.0%
Fixed assets	122	117	120	+4.6%
Goodwill	61.2	61.2	58.6	0.0%
Intangible assets	315	349	376	-9.5%
Cash and equivalents	416	98.5	79.6	+321.9%
Receivables	213	89.3	54.0	+138.9%
Inventory	35.5	35.1	35.7	+1.0%
Other assets	158	114	146	+38.3%
Total assets	1,321	864	870	+53.0%

10-K for the year ended 31 December 2022, filed 23 February 2023: the filing.