Emergent BioSolutions Inc.

Listed Company

EBSCIK 0001367644NYSEAcceleratedPharmaceutical PreparationsDelawareATFY ends Dec 31

Period

FY 2024

Revenue

$1.04B

Net Income

$-190.60M

Total Assets

$1.39B

Equity

$482.80M

Shares Out

51.77M

Op. Cash Flow

$58.70M

Business

Emergent BioSolutions Inc. is a global life sciences company that provides preparedness and response solutions for accidental, deliberate and naturally occurring public health threats. It offers vaccines, therapeutics, drug‑device combination products and contract development and manufacturing (CDMO) bioservices, including drug substance and drug product manufacturing, fill/finish, packaging and development services. The company operates three reportable segments: Commercial Product (NARCAN®), Medical Countermeasures (anthrax, smallpox and other MCMs) and Services (Bioservices/CDMO). It markets and distributes products primarily to U.S. and Canadian governments, international governments, NGOs, healthcare providers, retailers and direct consumers through pharmacies and e-commerce.

Summary from filing dated 2025-03-04

Financials

Consolidated Statement of Income

Year Ended · In millions, except per-share amounts

Concept	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31	FY 2020 2020-12-31
Total revenues	1,044	1,049	1,118	1,774	1,555
Research and development	71	111	188	235	235
Selling, general and administrative	308	368	340	349	303
Amortization of intangible assets	65	66	60	59	60
Goodwill impairment	0	218	7	42	0
Impairment of long-lived assets	27	307	0	0	—
Total operating expenses	1,152	1,776	1,288	1,432	1,122
Loss from operations	−109	−726	−170	341	434
Interest expense	−71	−88	−37	—	—
Gain on sale of business	24	74	0	0	—
Other, net	13	9	−12	−4	5
Total other income (expense), net	−34	−5	−49	−38	−27
Loss before income taxes	−143	−731	−219	303	407
Income tax provision (benefit)	48	29	−7	84	102
Net loss	−191	−761	−212	220	305
Basic (in dollars per share)	−3.6	−14.85	−4.22	4.1	5.79
Diluted (in dollars per share)	−3.6	−14.85	−4.22	4.06	5.67
Basic (in shares)	53	51	50	54	53
Diluted (in shares)	53	51	50	54	54

Consolidated Balance Sheet

As of · In millions, except per-share amounts

Concept	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31	FY 2020 2020-12-31
Cash and cash equivalents	100	112	643	576	621
Restricted cash	6	0	0	200,000	200,000
Accounts receivable, net	155	191	159	275	231
Inventories, net	312	329	351	351	307
Prepaid expenses and other current assets	27	48	58	70	37
Total current assets	599	680	1,210	1,272	1,196
Property, plant and equipment, net	271	383	818	800	644
Intangible assets, net	502	567	729	605	663
Other assets	19	194	191	57	113
Total assets	1,390	1,823	3,166	2,959	2,883
Accounts payable	61	112	104	129	136
Accrued expenses	18	19	35	52	47
Accrued compensation	56	74	87	89	85
Debt, current portion	0	414	957	32	34
Other current liabilities	28	33	46	73	83
Total current liabilities	162	651	1,229	374	385
Debt, net of current portion	664	447	449	809	841
Deferred tax liability	42	47	60	95	53
Other liabilities	39	29	42	62	68
Total liabilities	907	1,174	1,779	1,340	1,436
Preferred stock, $0.001 par value per share; 15.0 shares authorized, no shares issued and outstanding	0	0	0	0	0
Common stock, $0.001 par value per share; 200.0 shares authorized, 59.9 and 57.8 shares issued; 54.3 and 52.2 shares outstanding, respectively.	100,000	100,000	100,000	100,000	100,000
Treasury stock, at cost, 5.6 and 5.6 common shares, respectively	−228	−228	−228	—	—
Additional paid-in capital	928	904	874	829	785
Accumulated other comprehensive loss, net	−5	−6	3	−16	−25
Accumulated deficit	−212	−22	739	958	727
Total stockholders equity	483	649	1,388	1,612	1,451
Total liabilities and stockholders equity	1,390	1,823	3,166	2,959	2,883

Consolidated Statement of Cash Flows

Year Ended · In millions, except per-share amounts

Concept	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31	FY 2020 2020-12-31
Share-based compensation expense	18	23	45	42	51
Depreciation and amortization	109	125	143	124	—
Change in fair value of contingent obligations, net	600,000	200,000	3	3	32
Amortization of deferred financing costs	7	21	4	4	4
Deferred income taxes	−6	−9	−29	46	−2
Noncash gain on sale of business	−32	−74	0	—	—
Change in fair value of warrant and forward liabilities	1	0	0	—	—
Loss on disposal of assets	29	21	4	—	—
Other	7	−8	3	2	−5
Accounts receivable	−24	−22	118	−16	49
Inventories	−25	600,000	−57	−67	−83
Prepaid expenses and other assets	170	12	−20	8	−29
Accounts payable	−33	11	−14	−2	19
Accrued expenses and other liabilities	12	−56	−67	−9	19
Long-term incentive plan accrual	4	5	0	0	—
Accrued compensation	−18	−10	−800,000	4	22
Income taxes receivable and payable, net	23	−16	29	−31	1
Contract liabilities	−20	6	10	−32	11
Net cash provided by (used in) operating activities	59	−206	−34	320	536
Purchases of property, plant and equipment	−23	−52	−116	−224	−141
Proceeds from sale of property, plant and equipment	8	0	0	—	—
Royalty settlement payment	0	0	−22	0	0
Milestone payments from prior asset divestiture (acquisition)	30	−6	0	—	—
Asset acquisitions	0	0	−244	0	0
Proceeds from sale of business	110	270	0	—	—
Net cash provided by (used in) investing activities	125	212	−381	−224	−151
Proceeds from the issuance of debt, net of lender fees	219	0	0	—	—
Proceeds allocated to warrants issued in conjunction with debt	13	0	0	—	—
Proceeds allocated to common stock issued in conjunction with debt	9	0	0	—	—
Purchases of treasury stock	0	0	−82	−106	0
Proceeds from revolving credit facility	65	20	598	0	0
Principal payments on revolving credit facility	−284	−399	0	0	−373
Principal payments on term loan facility	−198	−165	−34	−25	−14
Debt issuance costs	−15	0	0	0	−8
Proceeds from share-based compensation activity	2	2	5	16	32
Taxes paid for share-based compensation activity	−1	−3	−6	−14	−14
Proceeds from at-the-market sale of stock, net of commissions and expenses	0	8	0	0	—
Net cash provided by (used in) financing activities:	−190	−536	481	−141	70
Effect of exchange rate changes on cash, cash equivalents and restricted cash	0	−1	500,000	−300,000	−1
Net change in cash, cash equivalents and restricted cash	−6	−531	66	−45	454
Cash paid for interest	64	68	33	30	21
Cash paid for income taxes, net of refunds	27	53	6	72	109
Purchases of property, plant and equipment unpaid at period end	2	6	9	20	22
Gain on extinguishments of debt	600,000	3	0	0	—
Issuance of common stock in conjunction with debt	8	0	0	—	0

Filings

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