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Home Press Release GlobeNewswire

Lantheus Reports Fourth Quarter and Full Year 2025 Financial Results and Provides Business Update

February 26, 2026
in GlobeNewswire, Web3
Reading Time: 39 mins read
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  • Worldwide revenue of $406.8 million and $1.54 billion for the fourth quarter and full year 2025
  • GAAP fully diluted earnings per share of $0.82 and $3.41 for the fourth quarter and full year 2025
  • Adjusted fully diluted earnings per share of $1.67 and $6.08 for the fourth quarter and full year 2025
  • Repurchased $100 million of shares of common stock in the fourth quarter pursuant to the previously announced stock repurchase plan that was approved by the Board in July 2025
  • Company announced today that it is sharpening its strategic focus to innovative radiodiagnostics and pursuing value‑maximizing alternatives for radiotherapeutic assets to support long-term growth
  • Company provides full year 2026 revenue and adjusted fully diluted earnings per share guidance

BEDFORD, Mass., Feb. 26, 2026 (GLOBE NEWSWIRE) — Lantheus Holdings, Inc. (Lantheus or the Company) (NASDAQ: LNTH), the leading radiopharmaceutical-focused company committed to enabling clinicians to Find, Fight and Follow disease to deliver better patient outcomes, today reported financial results for its fourth quarter and full year ended December 31, 2025.

“In 2025 we accomplished the important goal of maintaining market leadership with PYLARIFY. In addition, we expanded both our commercial portfolio of radiopharmaceuticals with Neuraceq as well as our pipeline through the acquisitions of Life Molecular Imaging and Evergreen Theragnostics,” said Mary Anne Heino, Chief Executive Officer of Lantheus. “In 2026, we are aligning our strategic focus on PET radiodiagnostics, with clear priorities around execution and investment. With up to four FDA approvals this year, we will ensure fit-for-purpose launch readiness for our new products, selectively advance late-stage pipeline assets and allocate capital thoughtfully to support sustainable growth and a compelling long-term outlook.”

Summary Financial Results

  Three Months Ended
December 31,
 
(in millions, except per share data – unaudited) 2025  2024  % Change 
Worldwide revenue $406.8  $391.1   4.0%
GAAP net income (loss) $54.1  $(11.8)  558.8%
GAAP fully diluted earnings (loss) per share $0.82  $(0.17)  578.8%
Adjusted net income (non-GAAP) $110.7  $115.4   (4.1%)
Adjusted fully diluted earnings per share (non-GAAP) $1.67  $1.59   4.7%
             

Fourth Quarter 2025

  • Worldwide revenue increased 4.0% to $406.8 million compared to the same period in 2024.
  • Sales of PYLARIFY were $240.2 million, a decrease of 9.7%.
  • Sales of DEFINITY were $85.3 million, a decrease of 1.0%.
  • Sales of Neuraceq were $31.0 million.
  • Operating income decreased 32.2% to $77.2 million. Adjusted operating income (non-GAAP) decreased 8.5% to $138.9 million.
  • Fully diluted earnings per share increased 578.8% to $0.82, compared to fully diluted loss per share of ($0.17) in the prior year period. Adjusted fully diluted earnings per share (non-GAAP) increased 4.7% to $1.67, compared to $1.59 in the prior year period.
  • Net cash provided by operating activities and free cash flow were $90.2 million and $81.4 million, respectively.

Balance Sheet

  • At December 31, 2025, the Company’s cash and cash equivalents were $359.1 million, after payments of $276.4 million and $352.9 million for the acquisitions of Evergreen Theragnostics, Inc. (“Evergreen”) and Life Molecular Imaging, respectively, and payment of approximately $300 million for the repurchase of common stock, compared to $912.8 million at December 31, 2024.
  • The Company currently has access to up to $750.0 million from a revolving line of credit.

Recent Business Highlights

  • The Company announced today that it is sharpening its strategic focus to innovative radiodiagnostics and is prioritizing its investment in the development and commercialization of innovative PET radiodiagnostics, alongside a decision to pursue value‑maximizing alternatives for radiotherapeutic assets to support long‑term growth.
  • Completed the divestiture of the legacy SPECT business to SHINE Technologies LLC (effective January 1, 2026), a decisive action taken to focus on PET radiodiagnostics and simplify the Company’s operating model.
  • Demonstrated the strategic expansion of the Lantheus PET portfolio as Neuraceq exited 2025 as the second largest and fastest growing commercially approved amyloid PET imaging agent utilized in the U.S.
  • Advanced the late-stage pipeline to launch readiness, securing 2026 PDUFA dates for three radiodiagnostic assets: new PSMA PET formulation (March 6), OCTEVY (March 29), and MK-6240 (August 13); and awaiting FDA approval and the resolution of Hatch-Waxman litigation for PNT2003, a radioequivalent to Lutathera.

Full Year 2026 Financial Guidance

  Guidance Issued February 26, 2026 
FY 2026 Revenue $1.4 billion – $1.45 billion 
FY 2026 Adjusted fully diluted EPS $5.00 – $5.25 
    

On a forward-looking basis, the Company does not provide GAAP income per common share guidance or a reconciliation of GAAP income per common share to adjusted fully diluted EPS because the Company is unable to predict with reasonable certainty business development and acquisition related expenses, purchase accounting fair value adjustments, and any one-time, non-recurring charges. These items are uncertain, depend on various factors, and could be material to results computed in accordance with GAAP. As a result, it is the Company’s view that a quantitative reconciliation of adjusted fully diluted EPS on a forward-looking basis is not available without unreasonable effort.

Conference Call and Webcast

As previously announced, the Company will host a conference call and webcast on Thursday, February 26, 2026, at 8:00 a.m. ET. To access the conference call or webcast, participants should register online at https://investor.lantheus.com/news-events/calendar-of-events.

A replay will be available approximately two hours after completion of the webcast and will be archived on the same web page for at least 30 days.

The conference call will include a discussion of non-GAAP financial measures. Reference is made to the most directly comparable GAAP financial measures, the reconciliation of the differences between the two financial measures, and the other information included in this press release, our Form 8-K filed with the SEC today, or otherwise available in the Investor Relations section of our website located at http://www.lantheus.com.

The conference call may include forward-looking statements. See the cautionary information about forward-looking statements in the safe-harbor section of this press release.

About Lantheus

Lantheus is the leading radiopharmaceutical-focused company, delivering life-changing science to enable clinicians to Find, Fight and Follow disease to deliver better patient outcomes. Headquartered in Massachusetts with offices in New Jersey, Canada, Germany, Switzerland, Sweden and the United Kingdom, Lantheus has been providing radiopharmaceutical solutions for nearly 70 years. For more information, visit http://www.lantheus.com.

Internet Posting of Information

The Company routinely posts information that may be important to investors in the “Investors” section of its website at http://www.lantheus.com. The Company encourages investors and potential investors to consult its website regularly for important information about the Company.

Non-GAAP Financial Measures

The Company uses non-GAAP financial measures, such as adjusted net income and its line components; adjusted fully diluted net income per share; adjusted operating income, and free cash flow. The Company’s management believes that the presentation of these measures provides useful information to investors. These measures may assist investors in evaluating the Company’s operations, period over period. However, these measures may exclude items that may be highly variable, difficult to predict and of a size that could have a substantial impact on the Company’s reported results of operations for a particular period. Management uses these and other non-GAAP measures internally for evaluation of the performance of the business, including the evaluation of results relative to employee performance compensation targets. Investors should consider these non-GAAP measures only as a supplement to, not as a substitute for or as superior to, measures of financial performance prepared in accordance with GAAP.

Safe Harbor for Forward-Looking and Cautionary Statements

This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, as amended, that are subject to risks and uncertainties and are made pursuant to the safe harbor provisions of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These forward-looking statements may be identified by their use of terms such as “advance,” “believe,” “continue,” “could,” “driving,” “expect,” “guidance,” “maintain,” “may,” “on track,” “plan,” “potential,” “predict,” “progress,” “should,” “target,” “will,” “would” and other similar terms. Such forward-looking statements include our guidance for the fiscal year 2026 and our plans to successfully execute on the commercialization of marketed products, ensure launch readiness for new products, advance a focused late-stage pipeline, and allocate capital thoughtfully, and are based upon current plans, estimates and expectations that are subject to risks and uncertainties that could cause actual results to materially differ from those described in the forward-looking statements. The inclusion of forward-looking statements should not be regarded as a representation that such plans, estimates and expectations will be achieved. Readers are cautioned not to place undue reliance on the forward-looking statements contained herein, which speak only as of the date hereof. The Company undertakes no obligation to publicly update any forward-looking statement, whether as a result of new information, future developments or otherwise, except as may be required by law. Risks and uncertainties that could cause our actual results to materially differ from those described in the forward-looking statements include: (i) continued market expansion, penetration and reimbursement for our established commercial products, particularly PYLARIFY, DEFINITY and Neuraceq, in a competitive environment, and our ability to clinically and commercially differentiate our products;(ii) our ability to obtain U.S. Food and Drug Administration (“FDA”) approval for our new formulation of our F-18 prostate-specific membrane antigen (“PSMA”) positron emission tomography (“PET”) imaging agent, to complete the technology transfer across our PET manufacturing facilities (“PMF”) network for such new formulation, to obtain FDA approval for each PET manufacturing facility to manufacture the new formulation, to obtain adequate coding, coverage and payment, including transitional pass-through payment status (“TPT Status”), for such new formulation and to have customers adopt such new formulation; (iii) the availability of raw materials, key components, equipment, manufacturing timeslots, either used in the production of our products and product candidates, or by customers of our products and product candidates, including, but not limited to PET scanners for PYLARIFY, Neuraceq, MK-6240, LNTH-2501 and NAV-4694; (iv) our ability to have third parties manufacture our products and product candidates and our ability to manufacture DEFINITY in our in-house manufacturing facility, in amounts and at the times needed; (iv) (v) our ability to satisfy our obligations under our existing clinical development partnerships using Neuraceq, MK-6240 or NAV-4694 as a research tool and under the license agreements through which we have rights to those assets, and to further develop and commercialize MK-6240 and NAV-4694 as approved products; (vi) our ability to continue to successfully integrate acquisitions, including of Life Molecular Imaging Limited (“Life Molecular”) and Evergreen Theragnostics, Inc. (“Evergreen”), which could be impacted by unforeseen expenses related to integration activities, the accuracy of our financial models, the potential for unforeseen liabilities within those businesses, the ability to integrate disparate information technology systems, retain key talent and create a merged corporate culture that successfully realizes the full potential of the combined organization; (vii) our ability to obtain FDA approval for LNTH-2501, our investigational kit for the preparation of Gallium-68 edotreotide injection, which has been studied for use in conjunction with a PET scan to stage and localize neuroendocrine tumors in adult and pediatric patients, and approval for PNT2003, and to be successful in the patent litigation associated with PNT2003; (viii) the cost, efforts and timing for clinical development, manufacturing, regulatory approval, adequate coding, coverage and payment, and successful commercialization of our product candidates and new clinical applications and territories for our products, in each case, that we or our strategic partners may undertake, including those investigational assets for which FDA approval is anticipated this year;(ix) our ability to identify opportunities to collaborate with strategic partners and to acquire or in-license additional diagnostic and therapeutic product opportunities in oncology, neurology and other strategic areas and continue to grow and advance our pipeline of products;(x) the effect that changes to management, including the recent turnover in our leadership and senior management team, could have on our business; and (xi) the risk and uncertainties discussed in our filings with the Securities and Exchange Commission (including those described in the Risk Factors section in our Annual Reports on Form 10-K and our Quarterly Reports on Form 10-Q).

– Tables Follow –

Lantheus Holdings, Inc.Consolidated Statements of Operations(in thousands, except per share data – unaudited)
       
  Three Months Ended
December 31,
  Twelve Months Ended
December 31,
 
  2025  2024  2025  2024 
Revenues $406,786  $391,110  $1,541,609  $1,533,910 
Cost of goods sold  165,911   142,565   599,657   545,619 
Gross profit  240,875   248,545   941,952   988,291 
Operating expenses            
Sales and marketing  46,319   43,640   178,691   177,940 
General and administrative  69,892   57,869   275,121   193,689 
Research and development  47,480   35,325   177,308   168,098 
Total operating expenses  163,691   136,834   631,120   539,727 
Gain on sale of assets  —   2,161   —   8,415 
Operating income  77,184   113,872   310,832   456,979 
Interest expense  5,078   5,045   19,749   19,669 
Investment in equity securities – unrealized loss  9,488   119,056   8,617   43,564 
Other income  (7,747)  (9,446)  (31,326)  (37,231)
Income (loss) before income taxes  70,365   (783)  313,792   430,977 
Income tax expense  16,277   11,007   80,233   118,535 
Net income (loss) $54,088  $(11,790) $233,559  $312,442 
Net income (loss) per common share:            
Basic $0.82  $(0.17) $3.46  $4.52 
Diluted $0.82  $(0.17) $3.41  $4.36 
Weighted average common shares outstanding:            
Basic  65,582   69,217   67,489   69,199 
Diluted  66,315   69,217   68,443   71,651 
             
Lantheus Holdings, Inc.Consolidated Revenues Analysis(in thousands, except percent data – unaudited)
       
  Three Months Ended  Twelve Months Ended 
  December 31,  December 31, 
  2025  2024  Change $  Change %  2025  2024  Change $  Change % 
PYLARIFY $240,204  $265,953  $(25,749)  (9.7)% $989,116  $1,057,834  $(68,718)  (6.5)%
Other radiopharmaceutical oncology  –   —   –   –%  –   384   (384)  (100.0)%
Total radiopharmaceutical oncology  240,204   265,953   (25,749)  (9.7)%  989,116   1,058,218   (69,102)  (6.5)%
DEFINITY  85,313   86,163   (850)  (1.0)%  330,248   317,792   12,456   3.9%
Neuraceq  31,005   —   31,005   100.0%  51,447   —   51,447   100.0%
TechneLite  20,983   25,107   (4,124)  (16.4)%  86,803   95,487   (8,684)  (9.1)%
Other precision diagnostics  5,944   6,192   (248)  (4.0)%  24,616   24,231   385   1.6%
Total precision diagnostics  143,245   117,462   25,783   22.0%  493,114   437,510   55,604   12.7%
Strategic partnerships and other revenue  23,337   7,695   15,642   203.3%  59,379   38,182   21,197   55.5%
Total revenues $406,786  $391,110  $15,676   4.0% $1,541,609  $1,533,910  $7,699   0.5%
                         
Lantheus Holdings, Inc.Reconciliation of GAAP to Non-GAAP Financial Measures(in thousands, except per share and percent data – unaudited)
       
  Three Months Ended
December 31,
  Twelve Months Ended
December 31,
 
  2025  2024  2025  2024 
Net income (loss) $54,088  $(11,790) $233,559  $312,442 
Stock and incentive plan compensation  17,543   22,164   85,563   76,393 
Amortization of acquired intangible assets  16,485   11,846   47,111   43,807 
Campus consolidation costs  16   35   (130)  72 
Contingent consideration fair value adjustments  397   (1,294)  1,379   (2,699)
Non-recurring fees  —   6,723   2,633   6,723 
Gain on sale of assets  —   (2,161)  —   (8,415)
Strategic collaboration and license costs  5,539   (8)  21,812   66,213 
Investment in equity securities – unrealized loss(a)  9,511   119,056   8,726   43,564 
Acquisition, integration and divestiture-related costs  21,703   207   84,348   1,553 
Other  (5,000)  447   (8,024)  2,720 
Income tax effect of non-GAAP adjustments(b)  (9,613)  (29,794)  (60,503)  (57,701)
Adjusted net income $110,669  $115,431  $416,474  $484,672 
Adjusted net income, as a percentage of revenues  27.2%  29.5%  27.0%  31.6%
             
  Three Months Ended
December 31,
  Twelve Months Ended
December 31,
 
  2025  2024  2025  2024 
Net income (loss) per share – diluted $0.82  $(0.17) $3.41  $4.36 
Stock and incentive plan compensation  0.26   0.31   1.25   1.07 
Amortization of acquired intangible assets  0.25   0.16   0.69   0.61 
Campus consolidation costs  0.00   0.00   (0.00)  0.00 
Contingent consideration fair value adjustments  0.01   (0.02)  0.02   (0.04)
Non-recurring fees  —   0.09   0.04   0.09 
Gain on sale of assets  —   (0.03)  —   (0.12)
Strategic collaboration and license costs  0.08   (0.00)  0.32   0.92 
Investment in equity securities – unrealized loss(a)  0.14   1.65   0.13   0.61 
Acquisition, integration and divestiture-related costs  0.33   0.00   1.23   0.02 
Other  (0.08)  0.01   (0.12)  0.04 
Income tax effect of non-GAAP adjustments(b)  (0.14)  (0.41)  (0.88)  (0.80)
Adjusted net income per share – diluted(c) $1.67  $1.59  $6.08  $6.76 
Weighted-average common shares outstanding – diluted  66,315   72,451   68,443   71,651 
             

(a) Non-GAAP amount excludes a gain of $23 and $109 from the change in value of other assets for the three and twelve months ended December 31, 2025, respectively.

(b) Represents the estimated income tax effect of the adjustments between GAAP net income (loss) and non-GAAP adjusted net income.

(c) Amounts may not add due to rounding.

Lantheus Holdings, Inc.Reconciliation of GAAP to Non-GAAP Financial Measures (Continued)(in thousands, except per share and percent data – unaudited)
 
       
  Three Months Ended
December 31,
  Twelve Months Ended
December 31,
 
  2025  2024  2025  2024 
Operating income $77,184  $113,872  $310,832  $456,979 
Stock and incentive plan compensation  17,543   22,164   85,563   76,393 
Amortization of acquired intangible assets  16,485   11,846   47,111   43,807 
Campus consolidation costs  16   35   (130)  72 
Contingent consideration fair value adjustments  397   (1,294)  1,379   (2,699)
Non-recurring fees  —   6,723   2,633   6,723 
Gain on sale of assets  —   (2,161)  —   (8,415)
Strategic collaboration and license costs  5,539   (8)  21,812   66,213 
Acquisition, integration and divestiture-related costs  21,703   207   84,348   1,553 
Other  —   447   1,703   2,720 
Adjusted operating income $138,867  $151,831  $555,251  $643,346 
Adjusted operating income, as a percentage of revenues  34.1%  38.8%  36.0%  41.9%
             
Lantheus Holdings, Inc.Reconciliation of Free Cash Flow(in thousands – unaudited)
       
  Three Months Ended
December 31,
  Twelve Months Ended
December 31,
 
  2025  2024  2025  2024 
Net cash provided by operating activities $90,178  $157,730  $390,141  $544,750 
Capital expenditures  (8,788)  (16,369)  (36,089)  (51,625)
Free cash flow $81,390  $141,361  $354,052  $493,125 
             
Net cash used in investing activities $(11,510) $(6,602) $(627,168) $(226,015)
Net cash used in financing activities $(100,786) $(103,659) $(316,584) $(118,536)
             
Lantheus Holdings, Inc.Condensed Consolidated Balance Sheets(in thousands – unaudited)
 
  December 31,  December 31, 
  2025  2024 
Assets      
Current assets:      
Cash and cash equivalents $359,121  $912,814 
Accounts receivable, net  358,640   321,258 
Inventory, net  64,674   68,025 
Income tax receivable  15,387   8,177 
Other current assets  21,400   16,359 
Assets held for sale  80,742   — 
Total current assets  899,964   1,326,633 
Investment in equity securities  42,213   39,489 
Property, plant and equipment, net  163,686   176,798 
Intangibles, net  722,779   161,761 
Goodwill  239,517   61,189 
Deferred tax assets, net  109,196   170,233 
Other long-term assets  50,044   44,237 
Total assets $2,227,399  $1,980,340 
Liabilities and Stockholders’ Equity      
Current liabilities:      
Current portion of long-term debt and other borrowings $738  $974 
Accounts payable  42,906   34,560 
Accrued expenses and other current liabilities  267,307   204,992 
Liabilities held for sale  22,468   — 
Total current liabilities  333,419   240,526 
Asset retirement obligations  138   23,344 
Long-term debt and other borrowings, net of current portion  568,678   565,279 
Long-term deferred tax liabilities  54,246   — 
Long-term contingent consideration liabilities  73,255   — 
Other long-term liabilities  107,866   63,180 
Total liabilities  1,137,602   892,329 
Total stockholders’ equity  1,089,797   1,088,011 
Total liabilities and stockholders’ equity $2,227,399  $1,980,340 
       

Contacts:
Mark Kinarney
Vice President, Investor Relations
978-671-8842
ir@lantheus.com

Melissa Downs
Executive Director, External Communications
646-975-2533
media@lantheus.com

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Chiplet Technology Market Projected to Grow at 11.6% CAGR Through 2033 | Key Players: SiliconTile Systems, ModuChip Technologies, NexaCore Semiconductors, ChipStrata Inc., and PolyDie Solutions

Chiplet Technology Market According to a new study by DataHorizzon Research, the Chiplet Technology Market is projected to grow at a CAGR of 11.6% from 2025 to 2033. The chiplet technology market is undergoing one of the most significant structural transformations in semiconductor history, driven by the physical limits of...

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Workflow Management System Market Set to Witness Rapid Growth Through 2033 | IBM Corporation, Oracle Corporation, Appian Corporation

Workflow Management System Market Coherent Market Insights has added a new research study on the Global "Workflow Management System Market" 2026 by Size, Growth, Trends, and Dynamics, Forecast to 2033 which is a result of an extensive examination of the market patterns. This report covers a comprehensive investigation of the...

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Customer Success Platforms Market Is Going to Boom Rapidly | Salesforce Inc., Totango Ltd., Gainsight Inc.

Customer Success Platforms Market Coherent Market Insights has released a report titled "Customer Success Platforms Market: Industry Trends, Share, Size, Growth, Opportunity, and Forecast, 2026-2033", which includes market percentage records and a thorough enterprise-level analysis. This report examines competitive dynamics, regional performance, and long-term growth potential across the global market....

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Nutrition Support Services Market Set to Surge at 8.2% CAGR Through 2033 | Key Players: NutriCore Solutions, Vitagen Health Systems, MedNourish Inc., ClinicalNutrition Partners, and AlphaFeed Technologies

Nutrition Support Services Market According to a new study by DataHorizzon Research, the Nutrition Support Services Market is projected to grow at a CAGR of 8.2% from 2025 to 2033. The nutrition support services market is experiencing a decisive growth inflection driven by rising prevalence of chronic diseases, accelerating adoption...

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Patient Engagement Solutions Market Set to Witness Rapid Growth Through 2033 | Cerner Corporation (Oracle Health), Epic Systems Corporation

Patient Engagement Solutions Market Coherent Market Insights has added a new research study on the Global "Patient Engagement Solutions Market" 2026 by Size, Growth, Trends, and Dynamics, Forecast to 2033 which is a result of an extensive examination of the market patterns. This report covers a comprehensive investigation of the...

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