Ani (ANIP) Q1 2026 Earnings Call Transcript

President and Chief Executive Officer — Nikhil Lalwani Senior Vice President and Chief Financial Officer — Stephen Carey Senior Vice President and Head of Rare Disease Business — Christopher Mutz Need a quote from a Motley Fool analyst? Email pr@fool.com Nikhil Lalwani, President and Chief Executive Officer; Stephen Carey, Senior Vice President and Chief Financial Officer; and Chris Mutz, Senior Vice President and Head of ANI s Rare Disease Business. You can also access the webcast of this call through the Investors section of the ANI website at anipharmaceuticals.com. This call is accompanied by a slide deck that can be accessed by going to the Events section of the Investors page of our website. You can turn to our forward-looking statements on Slide 2. Before we begin, I would like to remind everyone that some statements we make today may be considered forward-looking statements, as defined by the Private Securities Litigation Reform Act. ANI cautions that these forward-looking statements are subject to risks and uncertainties, including those noted in our press release issued this morning and our filings with the SEC that may cause actual results to differ materially from those projected in the forward-looking statements. ANI specifically disclaims any intent or obligation to update these forward-looking statements, except as required by law. During this call, we will also refer to certain non-GAAP financial measures. These non-GAAP financial measures should not be considered as an alternative to financial measures required by GAAP. The non-GAAP financial measures referenced on this call are reconciled to the most directly comparable GAAP financial measures in a table available in the slide deck accompanying this call. The archived webcast will be available for 30 days on our website, anipharmaceuticals.com. For the benefit of those who may be listening to the replay or archived webcast, this call was held and recorded on May 8, 2026. Since then, ANI may have made announcements related to the topics discussed, so please reference the company s most recent press releases and SEC filings. And with that, I ll turn the call over to Nikhil Lalwani. Nikhil Lalwani: Thank you, Irina, and welcome again to ANI. Good morning, everyone, and thank you for joining us for ANI s First Quarter 2026 Earnings Call. Starting on Slide 4. In the first quarter, we continued to deliver on our goal of accelerating our transformation into a leading Rare Disease company and meaningfully further our commitment to serving patients, improving lives. Specifically, in the first quarter, we grew total net revenues 20% year-over-year, driven by strong performance across our Rare Disease and Generics businesses, along with contributions from an innovative intellectual property out-licensing agreement that will provide us with royalty revenues for years going forward. We also grew adjusted EBITDA 24% year-over-year while making strategic investments into our Rare Disease business to accelerate its growth. These strong first quarter results enabled us to raise our 2026 financial guidance for total revenue to the range of $1.08 billion to $1.14 billion, and adjusted EBITDA to the range of $285 million to $300 million. I m highly encouraged by our first quarter performance, which positions us well to drive meaningful growth in 2026 and beyond. Turning to Slide 5. Earlier this year, we outlined top 3 priorities for 2026, and I m proud of all of the hard work our team has put in to generate strong momentum as we execute against these priorities. The first priority is to accelerate our transformation into a leading Rare Disease company. Central to this effort is maximizing the multiyear growth opportunity for Cortrophin Gel, our lead Rare Disease asset. We delivered $75.1 million in Cortrophin Gel net revenues for the first quarter, up 42% year-over-year and consistent with the expectations we outlined during our last quarterly call. The fundamentals remain strong, and we exited the quarter with clear traction across our target indications. We saw accelerating momentum across our new patient starts and monthly volumes dispensed in February and March. This momentum has persisted in the second quarter with April having the highest number of new patient starts and monthly volumes dispensed since launch. We have also made significant strides this quarter in expanding our Rare Disease organization to capture the sizable and unique opportunity in acute gouty arthritis flares by targeting podiatry and primary care. We have recently hired and onboarded the majority of our new dedicated commercial team, who will be in the field in the second quarter. We expect to have our full organizational expansion completed and operational by the end of June. This, together with the continued strong demand across other core indications, provides a solid foundation to drive significant revenue growth in the back half of the year. We believe we are well pos

Ani (ANIP) Q1 2026 Earnings Call Transcript

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Ani (ANIP) Q1 2026 Earnings Call Transcript

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