Cipher Pharmaceuticals Inc ( (CPHRF) ) has released its Q4 earnings. Here is a breakdown of the information Cipher Pharmaceuticals Inc presented to its investors.
Cipher Pharmaceuticals Inc., a specialty pharmaceutical company primarily focused on dermatology, has reported significant growth in its financial performance for the year 2024. The company, known for acquiring and marketing products that address unmet medical needs, operates mainly in Canada, the U.S., and South America.
In its latest earnings report, Cipher Pharmaceuticals highlighted a substantial increase in revenue and profitability for the year 2024. The company generated $33.4 million in total revenue, marking a 58% increase from the previous year. This growth was fueled by the acquisition of the Natroba™ business and strong performance from its Canadian product, Epuris®.
Key financial metrics from the report include a 23% rise in adjusted EBITDA to $15.7 million and a 22% increase in operating cash flows to $19.5 million. The acquisition of Natroba™ contributed significantly, with $12.0 million in revenue since its acquisition and a $6.5 million contribution in the fourth quarter alone. The company also reported a gross profit increase of 41% to $24.1 million, with a gross margin on product revenue rising to 76%.
Looking ahead, Cipher Pharmaceuticals plans to continue its growth strategy by leveraging its existing product portfolio and pursuing accretive acquisitions. The company remains focused on expanding its market share, particularly in the U.S. with Natroba™, and enhancing its profitability through strategic acquisitions in the dermatology sector.