Amphastar Pharmaceuticals, Inc. AMPH
We are a biopharmaceutical company focusing on developing, manufacturing, and commercializing technically challenging generic and proprietary injectable, inhalation, and intranasal products, as well as active pharmaceutical ingredient, or API products. We currently manufacture and sell over 25 prescription pharmaceutical products, and an over-the-counter product, Primatene MIST®.
Our largest products by net revenues currently include BAQSIMI® glucagon nasal powder, or BAQSIMI®, Primatene MIST®, glucagon, epinephrine, and lidocaine.
In June 2023, we completed our acquisition of BAQSIMI®, the first and only nasally administered glucagon for the treatment of severe hypoglycemia in people with diabetes, and it is currently available in the United States and 26 international markets.
Valuation FY2025 figures against the last close
Annual financial statements
Income statement
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $719.9M | $732.0M | $644.4M | $499.0M | $437.8M | $349.8M | $322.4M | $294.7M | $240.2M | $255.2M |
| Cost of revenue | $363.8M | $358.1M | $293.3M | $250.1M | $238.0M | $206.5M | $190.4M | $187.7M | $149.7M | $151.0M |
| Gross profit | $356.1M | $373.9M | $351.1M | $248.9M | $199.7M | $143.3M | $131.9M | $107.0M | $90.5M | $104.2M |
| R&D | $85.8M | $73.9M | $73.7M | $74.8M | $60.9M | $67.2M | $68.9M | $57.6M | $43.5M | $41.5M |
| SG&A | $85.9M | $56.7M | $51.5M | $45.1M | $51.4M | $50.4M | $50.3M | $49.9M | $44.5M | $41.8M |
| Total operating expenses | $215.7M | $168.4M | $154.1M | $141.4M | $129.9M | $132.4M | $132.0M | $115.6M | $91.8M | $88.8M |
| Operating income | $140.4M | $205.4M | $197.0M | $107.5M | $69.9M | $11.0M | -$39.0K | -$8.6M | -$1.3M | $15.4M |
| Interest expense | $25.5M | $30.3M | $27.2M | $1.8M | $885.0K | $374.0K | $119.0K | $243.0K | $826.0K | $1.0M |
| Pre-tax income | $123.6M | $189.8M | $171.4M | $116.0M | $84.1M | $4.6M | $60.2M | -$9.9M | $1.2M | $14.6M |
| Income tax | $25.5M | $29.7M | $31.8M | $23.5M | $20.6M | $3.5M | $13.7M | $3.3M | $2.4M | $4.8M |
| Net income | $98.1M | $159.5M | $137.5M | $91.4M | $62.1M | $1.4M | $48.9M | -$5.7M | $3.6M | $9.8M |
| EPS, basic | 2.10 | 3.29 | 2.85 | 1.88 | 1.30 | 0.03 | 1.04 | -0.12 | 0.08 | 0.22 |
| EPS, diluted | 2.03 | 3.06 | 2.60 | 1.74 | 1.25 | 0.03 | 0.98 | -0.12 | 0.08 | 0.21 |
| Shares, diluted (wtd. avg.) | $48.2M | $52.1M | $53.0M | $52.4M | $49.8M | $49.1M | $49.9M | $46.4M | $48.4M | $47.5M |
Balance sheet
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash and equivalents | $170.2M | $151.6M | $144.5M | $156.3M | $126.6M | $94.5M | $75.5M | $88.2M | $67.5M | $72.4M |
| Short-term investments | $112.6M | $70.0M | $112.5M | $19.7M | $10.3M | $13.0M | $11.7M | $2.8M | $2.6M | $527.0K |
| Receivables | $143.6M | $136.3M | $114.9M | $88.8M | $78.8M | $66.0M | $45.4M | $52.2M | $36.0M | $26.8M |
| Inventory | $176.9M | $153.7M | $105.8M | $103.6M | $92.8M | $96.8M | $110.5M | $69.3M | $63.6M | $79.8M |
| Total current assets | $636.0M | $534.1M | $489.6M | $378.3M | $318.1M | $279.7M | $255.2M | $220.3M | $187.8M | $184.1M |
| Property, plant and equipment | $310.6M | $297.3M | $282.7M | $238.3M | $244.2M | $260.1M | $233.9M | $210.4M | $180.5M | $152.9M |
| Goodwill | $3.4M | $3.0M | $3.2M | $3.1M | $3.3M | $3.9M | $3.6M | $4.0M | $4.5M | $4.0M |
| Other intangibles | $533.3M | $558.4M | $580.9M | $4.9M | $6.3M | $7.5M | $8.3M | $9.1M | $11.5M | $17.1M |
| Total assets | $1.63B | $1.58B | $1.51B | $742.0M | $671.5M | $631.2M | $587.0M | $513.6M | $451.1M | $427.7M |
| Accounts payable | $32.6M | $30.5M | $25.4M | $20.5M | $22.2M | $24.4M | $25.1M | $31.3M | $16.6M | $19.9M |
| Total current liabilities | $158.2M | $173.8M | $225.4M | $94.9M | $103.8M | $112.2M | $90.0M | $106.8M | $67.2M | $60.6M |
| Long-term debt | $619.7M | $613.5M | $603.2M | $76.6M | $78.2M | $45.9M | $46.3M | $49.1M | $45.7M | $36.0M |
| Total liabilities | $840.5M | $845.2M | $873.5M | $213.3M | $226.0M | $182.5M | $159.4M | $149.2M | $117.3M | $98.5M |
| Retained earnings | $666.9M | $568.8M | $409.3M | $271.7M | $180.3M | $117.8M | $116.4M | $67.5M | $72.6M | $70.9M |
| Total equity | $788.8M | $732.3M | $639.4M | $528.7M | $445.5M | $448.7M | $427.5M | $364.4M | $333.7M | $326.5M |
Cash flow
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | $156.1M | $213.4M | $183.5M | $89.2M | $98.0M | $57.3M | $41.8M | $38.2M | $39.2M | $38.6M |
| Depreciation and amortisation | $31.6M | $28.2M | $25.2M | $23.8M | $10.2M | $9.0M | $7.1M | $6.1M | $6.4M | $12.2M |
| Stock-based compensation | $27.3M | $24.4M | $20.2M | $17.9M | $18.7M | $20.5M | $17.3M | $16.7M | $17.1M | $15.1M |
| Capital expenditure | $34.9M | $41.0M | $38.2M | $24.0M | $27.5M | $33.9M | $41.6M | $46.8M | $35.1M | $21.4M |
| Investing cash flow | -$70.3M | -$124.9M | -$649.1M | -$32.8M | -$28.7M | -$36.4M | -$50.5M | -$42.2M | -$36.9M | -$39.5M |
| Financing cash flow | -$67.4M | -$81.0M | $454.1M | -$26.4M | -$37.0M | -$2.2M | -$3.8M | $25.0M | -$7.7M | $7.1M |
| Buybacks | $75.6M | $85.5M | $58.1M | $39.9M | $28.9M | $24.4M | $22.3M | $25.0M | $30.7M | $9.9M |
Figures as tagged in each year's own filing, in US dollars. A year restated by a later filing shows the restated figure. Capital expenditure, dividends and buybacks are cash out, shown positive. A line the filer does not report is not listed. Latest from accession 0001297184-26-000023.
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