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Supernus Pharmaceuticals, Inc. (the Company) is a biopharmaceutical company focused on developing and commercializing products for the treatment of central nervous system (CNS) diseases. The Company's diverse neuroscience portfolio includes approved treatments for attention-deficit hyperactivity disorder (ADHD), dyskinesia in Parkinson's Disease (PD) patients receiving levodopa-based therapy, h…
The business is unprofitable at the operating level (-8.66% margin). The thesis depends entirely on whether and when it reaches sustainable profitability.
Revenue grew 8.6%, steady but not accelerating. Margins contracted 21.0pp, which offsets some of the top-line progress.
Free cash flow declined 73% versus the prior year, cash generation momentum has weakened. ROIC dropped from 5.67% to -4.53%, capital efficiency is deteriorating.
Profitability & Returns
Revenue (TTM)
$777M
▲ +8.6% YoY
Net Income (TTM)
-$29M
▼ -152.2% YoY
Op. Margin
-7.77%
▼ -21.0pp YoY
ROIC
-4.33%
▼ -10.2pp YoY
Cash Flow & Balance Sheet
FCF (TTM)
$82M
▼ -73.1% YoY
Op. Cash Flow (TTM)
$83M
▼ -72.5% YoY
Net Debt
-$343M
Net Cash Position
Cash & Equiv.
$384M
5Y CAGR: +6.7%
5Y CAGR: -19.4%
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