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
Where the revenue comes from as reported in the latest 10-K
Revenue by geography
- United States
- France
- Other
| Region | FY2025 | FY2024 |
|---|---|---|
| United States | $681.4M | $707.7M |
| France | $35.3M | $19.9M |
| Other | $3.2M | $4.3M |
As the company reported it, from the “Segment Reporting (Summary of Revenues and Long-Lived Assets by Geographic Region) (Details)” note of its latest 10-K. Every figure here has been checked against the total revenue the same filing reported. Regions are the filer's own and are not mapped onto a standard list — one company's “Americas” and another's “United States” are different areas, and making them look comparable would mean making at least one of them wrong. Slices under 1% are folded into “Other”.
Revenue by segment
- Other Products
- Baqsimi
- Primatene MIST
- Epinephrine
- Glucagon
- Lidocaine
| Segment | FY2025 |
|---|---|
| Other Products | $229.7M |
| Baqsimi | $185.4M |
| Primatene MIST | $108.7M |
| Epinephrine | $70.6M |
| Glucagon | $69.1M |
| Lidocaine | $56.5M |
As the company reported it, from the “Segment Reporting (Summary of Net Revenues by Product) (Details)” note of its latest 10-K. Every figure here has been checked against the total revenue the same filing reported. Segments are the filer's own reporting structure, which is a decision about how it runs itself rather than a standard taxonomy: two companies in the same industry routinely divide themselves along different lines, so these are worth reading down a single company rather than across two. Slices under 1% are folded into “Other”.
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.
Plot the figures US dollars
- Revenue
- Gross profit
- Net income
| Fiscal year | FY2016 | FY2017 | FY2018 | FY2019 | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $255.2M | $240.2M | $294.7M | $322.4M | $349.8M | $437.8M | $499.0M | $644.4M | $732.0M | $719.9M |
| Gross profit | $104.2M | $90.5M | $107.0M | $131.9M | $143.3M | $199.7M | $248.9M | $351.1M | $373.9M | $356.1M |
| Net income | $9.8M | $3.6M | -$5.7M | $48.9M | $1.4M | $62.1M | $91.4M | $137.5M | $159.5M | $98.1M |
Recent filings and events
- Results announced The quarterly or annual earnings release. Arrives four times a year from almost every company here. Item 2.02
- Officer or director change Someone at the top arrived or left. The item covers everything from a board retirement to a chief executive being removed, and only the filing itself says which. Item 5.02
- Other event The catch-all. The company chose to disclose something that fits no other item, so the content is whatever it says it is. Item 8.01
- Shareholder vote The results of the annual meeting or a special vote. Item 5.07
- Results announced Item 2.02
- Other event Item 8.01
- Material agreement signed The company entered an agreement outside the ordinary course of business - a large contract, a credit facility, a merger agreement. Item 1.01
- Officer or director change Item 5.02
- Annual report filed A new 10-K. The figures and the business description on this site come from it. Form 10-K
- Results announced Item 2.02
- Material agreement signed Item 1.01
- Regulation FD disclosure Something the company told the market and had to tell everyone at once - usually a slide deck or a press release. Item 7.01
Item numbers are Form 8-K's own, and a filing date is up to four business days after the thing it reports. The same feed across the whole market.
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