Amphastar Pharmaceuticals, Inc. Files 10-Q for Period Ending March 31, 2024

TL;DR

<b>Amphastar Pharmaceuticals, Inc. filed its Q1 2024 10-Q report, detailing financial performance and product revenues.</b>

AI Summary

Amphastar Pharmaceuticals, Inc. (AMPH) filed a Quarterly Report (10-Q) with the SEC on May 10, 2024. Amphastar Pharmaceuticals, Inc. filed a 10-Q report for the period ending March 31, 2024. The filing covers the first quarter of 2024. Key financial data points such as retained earnings, additional paid-in capital, and accumulated other comprehensive income are detailed for various periods. Information regarding share repurchase plans and equity incentive plans is included. Product-specific revenue data for US and non-US markets is presented for Q1 2024.

Why It Matters

For investors and stakeholders tracking Amphastar Pharmaceuticals, Inc., this filing contains several important signals. This 10-Q filing provides investors with the latest quarterly financial performance and operational details of Amphastar Pharmaceuticals. The detailed breakdown of product revenues by segment and geography offers insights into the company's sales performance and market penetration.

Risk Assessment

Risk Level: low — Amphastar Pharmaceuticals, Inc. shows low risk based on this filing. The filing is a standard quarterly report (10-Q) with no immediate red flags, indicating routine financial disclosure.

Analyst Insight

Review the detailed product revenue segments and geographic breakdowns to understand sales trends and identify growth drivers.

Revenue Breakdown

Key Numbers

• 2024-03-31 — Reporting Period End Date (Conformed period of report)
• 2024-05-10 — Filing Date (Filed as of date)

Key Players & Entities

• Amphastar Pharmaceuticals, Inc. (company) — Filer name
• 2024-03-31 (date) — Conformed period of report
• 2024-05-10 (date) — Filed as of date
• Rancho Cucamonga, CA (location) — Business address city and state
• 909-980-9484 (phone) — Business phone

FAQ

Industry Context

Amphastar Pharmaceuticals operates within the pharmaceutical preparations industry, focusing on the development, manufacturing, and marketing of complex injectable and inhalation products.

Regulatory Implications

The company is subject to standard SEC regulations for public companies, including the requirement to file quarterly reports (10-Q) detailing financial performance and business operations.

What Investors Should Do

1. Analyze the revenue breakdown by product and geography for Q1 2024 to identify key performance drivers.
2. Review any disclosed executive compensation details if available in the full filing.
3. Compare key financial metrics with previous periods to assess trends and growth.

Key Dates

• 2024-03-31: Quarterly Period End — End of the reporting period for the 10-Q filing.
• 2024-05-10: Filing Date — Date the 10-Q report was officially filed with the SEC.

Year-Over-Year Comparison

This filing is the 10-Q for the first quarter of 2024, following the 10-K annual report filed previously.

Key Financial Figures

• $0.0001 — ich registered Common Stock, par value $0.0001 per share AMPH The NASDAQ Stock Mar

Filing Documents

• amph-20240331x10q.htm (10-Q) — 2222KB
• amph-20240331xex10d1.htm (EX-10.1) — 1923KB
• amph-20240331xex31d1.htm (EX-31.1) — 19KB
• amph-20240331xex31d2.htm (EX-31.2) — 18KB
• amph-20240331xex32d1.htm (EX-32.1) — 10KB
• amph-20240331xex32d2.htm (EX-32.2) — 10KB
• amph-20240331xex10d1001.jpg (GRAPHIC) — 2KB
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• amph-20240331xex10d1011.jpg (GRAPHIC) — 3KB
• 0001297184-24-000037.txt (&nbsp;) — 12779KB
• amph-20240331.xsd (EX-101.SCH) — 65KB
• amph-20240331_cal.xml (EX-101.CAL) — 64KB
• amph-20240331_def.xml (EX-101.DEF) — 302KB
• amph-20240331_lab.xml (EX-101.LAB) — 500KB
• amph-20240331_pre.xml (EX-101.PRE) — 467KB
• amph-20240331x10q_htm.xml (XML) — 2239KB

FINANCIAL INFORMATION

Part I. FINANCIAL INFORMATION PAGE

Financial Statements (unaudited)

Item 1. Financial Statements (unaudited) Condensed Consolidated Balance Sheets as of March 31, 2024 and December 31, 202 3 1 Condensed Consolidated Statements of Operations for the Three Months Ended March 31, 2024 and 202 3 2 Condensed Consolidated Statements of Comprehensive Income for the Three Months Ended March 31, 2024 and 202 3 3 Condensed Consolidated Statements of Stockholders' Equity for the Three Months Ended March 31, 2024 and 202 3 4 Condensed Consolidated Statements of Cash Flows for the Three Months Ended March 31, 2024 and 202 3 5 Notes to Condensed Consolidated Financial Statements 6

Management's Discussion and Analysis of Financial Condition and Results of Operations

Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations 31

Quantitative and Qualitative Disclosure about Market Risk

Item 3. Quantitative and Qualitative Disclosure about Market Risk 40

Controls and Procedures

Item 4. Controls and Procedures 40

OTHER INFORMATION

Part II. OTHER INFORMATION

Legal Proceedings

Item 1. Legal Proceedings 41

Risk Factors

Item 1A. Risk Factors 41

Unregistered Sales of Equity Securities and Use of Proceeds

Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 41

Defaults Upon Senior Securities

Item 3. Defaults Upon Senior Securities 41

Mine Safety Disclosures

Item 4. Mine Safety Disclosures 41

Other Information

Item 5. Other Information 41

Exhibits

Item 6. Exhibits 42

Signatures

Signatures 43 Table of Contents SPECIAL NOTE ABOUT FORWARD-LOOKING STATEMENT S This Quarterly Report on Form 10-Q, or Quarterly Report, contains "forward-looking statements" that involve substantial risks and uncertainties. In some cases, you can identify forward-looking statements by the following words: "may," "might," "will," "could," "would," "should," "expect," "intend," "plan," "anticipate," "believe," "estimate," "predict," "project," "potential," "continue," "ongoing" or the negative of these terms or other comparable terminology, although not all forward-looking statements contain these identifying words. Forward-looking statements relate to future events or future financial performance or condition and involve known and unknown risks, uncertainties and other factors that could cause actual results, levels of activity, performance or achievement to differ materially from those expressed or implied by the forward-looking statements. These forward-looking statements include, but are not limited to, statements about: our expectations regarding the sales and marketing of our products; our expectations regarding our newly acquired product, BAQSIMI , including with respect to our ability to increase our revenues and derive certain benefits as a result of our acquisition of BAQSIMI ; our ability to successfully acquire and integrate assets, including our ability to integrate BAQSIMI; our expectations regarding our manufacturing and production and the integrity of our supply chain for our products, including the risks associated with our single source suppliers; our business and operations in general, including: adverse impacts of the Russia-Ukraine and Middle East conflicts and challenging macroeconomic conditions on our business, financial condition, operations, cash flows and liquidity; our ability to attract, hire, and retain highly skilled personnel; interruptions to our manufacturing and production as a result of natural catastrophic events or

– FINANCIAL INFORMATION

PART I – FINANCIAL INFORMATION

FINANCIAL STATEMENTS

ITEM 1. FINANCIAL STATEMENTS AMPHASTAR PHARMACEUTICALS, INC. CONDENSED CONSOLIDATED BALANCE SHEET S (in thousands, except share data) March 31, December 31, 2024 2023 (unaudited) ASSETS Current assets: Cash and cash equivalents $ 201,148 $ 144,296 Restricted cash 235 235 Short-term investments 88,407 112,510 Restricted short-term investments 2,200 2,200 Accounts receivable, net 138,114 114,943 Inventories 115,494 105,833 Income tax refunds and deposits 784 526 Prepaid expenses and other assets 8,696 9,057 Total current assets 555,078 489,600 Property, plant, and equipment, net 288,523 282,746 Finance lease right-of-use assets 516 564 Operating lease right-of-use assets 31,352 32,333 Investment in unconsolidated affiliate — 527 Goodwill and intangible assets, net 607,064 613,295 Long-term investments 15,163 14,685 Other assets 23,369 25,910 Deferred tax assets 53,252 53,252 Total assets $ 1,574,317 $ 1,512,912 LIABILITIES AND STOCKHOLDERS' EQUITY Current liabilities: Accounts payable and accrued liabilities $ 116,697 $ 93,366 Accrued payments for BAQSIMI (see Note 3) 128,245 126,090 Income taxes payable 5,857 1,609 Current portion of long-term debt 428 436 Current portion of operating lease liabilities 3,942 3,906 Total current liabilities 255,169 225,407 Long-term reserve for income tax liabilities 6,066 6,066 Long-term debt, net of current portion and unamortized debt issuance costs 594,006 589,579 Long-term operating lease liabilities, net of current portion 28,739 29,721 Other long-term liabilities 17,981 22,718 Total liabilities 901,961 873,491 Commitments and contingencies Stockholders' equity: Preferred stock: par value $ 0.0001 ; 20,000,000 shares authorized; no shares issued and outstanding — — Common stock: par value $ 0.0001 ; 300,000,000 shares authorized; 60,160,459 and 48,84