Q2 2024 Theratechnologies Inc Earnings Call Transcript
Key Points
- Theratechnologies Inc (THTX) reported a positive net income for the first time in recent history.
- Revenue for the second quarter rebounded to $22 million, marking a 25% growth compared to the same quarter last year.
- Adjusted EBITDA for the quarter was $5.5 million, representing a solid 25% margin.
- EGRIFTA SV sales increased by 49% year-over-year, reaching $16.2 million.
- The company reaffirmed its full-year 2024 revenue guidance of $87 million to $90 million and adjusted EBITDA of $13 million to $15 million.
- Trogarzo net sales decreased by 13.4% year-over-year, primarily due to competitive pressures in the multidrug-resistant HIV treatment segment.
- R&D expenses decreased substantially, which may indicate reduced investment in future growth and innovation.
- The company is still addressing FDA questions regarding the F8 formulation of tesamorelin, delaying its potential approval.
- Net finance costs amounted to $2.2 million, including $2.3 million in interest on the Marathon loan facility.
- The oncology program's future spending will depend on partnerships, which introduces uncertainty in its development.
Good morning, ladies and gentlemen, and thank you for standing by. Welcome to Theratechnologies second-quarter 2024 earnings call. We would like to remind everyone that all figures on this call are quoted in US dollars (Operator Instructions). I would like to remind everyone that this conference call is being recorded today, Wednesday, July 10, 2024, at 8:30 AM Eastern Time. I will now turn the call over to John Leasure, Global Commercial Officer at Theratechnologies. John, please go ahead.
Thank you, operator, and good morning, everyone. On the call today will be Theratechnologies' President and Chief Executive Officer, Mr. Paul Levesque; and Senior Vice President and Chief Financial Officer, Mr. Philippe Dubuc. During the Q&A session, he will be joined by Dr. Christian Marsolais, Senior Vice President and Chief Medical Officer; and myself, the company's Global Commercial Officer.
Before we begin, I'd like to remind everyone that remarks today contain forward-looking statements
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