Alkermes 2025 revenue falls to $1.48 billion; 2026 outlook projects GAAP net loss
Alkermes reported that 2025 total revenues fell to $1.48 billion from $1.56 billion in 2024, and GAAP net income dropped to $242 million from $367 million. The company projected a 2026 GAAP net loss of $115 million to $135 million, with total revenues of $1.73 billion to $1.84 billion, after completing its Avadel acquisition on February 12, 2026. For shareholders, the results show lower 2025 revenue and profit, and the company expects a loss in 2026.
Key points
- FY2025 total revenues were $1.48 billion versus $1.56 billion in FY2024; diluted GAAP EPS was $1.43 versus $2.17.
- Q4 2025 GAAP net income was $49.3 million versus $146.5 million in Q4 2024.
- 2026 expectations: total revenues of $1.73 billion to $1.84 billion and GAAP net loss of $115 million to $135 million.
- Avadel acquisition closed February 12, 2026, funded with about $775 million of balance sheet cash and term loans totaling $1.525 billion due in 2031.
The filing
Written by AI (Anthropic Claude, claude-haiku-5-5) on Nov 8, 2026, 12:57 AM ET, from the text of the filing and its press-release exhibits only. Written later: this filing was briefed after the fact, when past filings were added to the site, so the brief may be read with hindsight; the filing itself is the record of what was known on February 25, 2026.
Briefs are written by AI from the filing text (each brief's own page names the model) and can contain mistakes — open the filing before acting on anything. Impact (1-5) and tone are the model's reading of the filing for shareholders, not a price forecast. Not investment advice.