Alvotech (NASDAQ:ALVO, ICELAND: ALVO, STOCKHOLM: ALVO SDB))
Financial Highlights
A supplemental long‑form earnings release providing additional operational details and business update for Q4 2025 and the full year is available at: https://investors.alvotech.com/earnings-calendar The supplemental document is provided solely for reference and is not part of this SEC Form 6‑K. The Form 6‑K should not be read together with, or construed as referring to, the supplemental long‑form release.
Q4 2025 Highlights
Total revenues1 were $173 million, up 13% Year-on-Year (YoY)
Adjusted EBITDA1 was $69 million with Gross Margin at 66%
AVT05 was approved as a biosimilar to Simponi® in the UK and European Economic Area (EEA)
AVT03 was approved as a biosimilar to Prolia® and Xgeva® in the EEA
The EMA accepted for review a marketing application for AVT23, referencing Xolair®
After the end of the quarter, Alvotech entered into supply and commercialization agreements with Sandoz, covering multiple biosimilars candidates in Canada, Australia and New Zealand
FY 2025 Highlights
Total revenues1 were $593 million, up 21% YoY
Adjusted EBITDA1 was $137 million, up 27% YoY, with Gross Margin at 61%
The cash balance on December 31, 2025, was $172 million
Second biosimilar in the US, Selarsdi™ referencing Stelara® launched by commercial partner Teva
Three new biosimilars were approved in multiple markets, including the UK, EEA and Japan
Alvotech acquired Xbrane's R&D organization in Sweden and Ivers-Lee Group in Switzerland
The company listed its shares on Nasdaq Stockholm and raised new equity
Linda Jonsdottir was appointed Chief Financial Officer, Dr. Balaji V. Prasad was appointed Chief Strategy Officer, while Joseph McClellan transitioned into the role of Chief Operating Officer and Anthony Maffia into the role of Chief Regulatory and Quality Officer
________________________________1 Figures are adjusted to exclude items that are not indicative of our ongoing operating performance. Please see the disclaimer on ‘Non IFRS Financial Measures' at the end of this press release. As a foreign private issuer, Alvotech is not required to, and does not, prepare or file quarterly financial statements under IFRS or with the SEC. The financial information included in this Form 6-K reflects management's current estimates and is presented for the purpose of providing an interim business update.
Comments by Chairman of the Board and Outgoing CEO, Róbert Wessman:
"Last year we continued to expand our dedicated end-to-end biosimilars platform, advancing our pipeline with the launches of three newly approved biosimilars, expanding our R&D operation and adding a centralized assembly and packaging unit through acquisitions, while also strengthening our global network through new commercial partnerships.
"We now have five approved and on-market biosimilars supported by our global partners which provide Alvotech with commercial reach into 90 countries worldwide. We have an industry leading pipeline of 30 biosimilars in development and continue adding to it at an accelerated pace.
"During the year we further strengthened our financial position, raising close to $300 million from capital markets to support continued investment in our development programs and manufacturing platform. We broadened our investor base through the listing of shares on Nasdaq Stockholm, providing better access to Nordic and European investors.
"At the same time, we addressed the regulatory observations following the FDA inspection of our Reykjavik manufacturing facility and we implemented a comprehensive improvement program. Based on the progress made so far, we expect to resubmit the affected applications to the FDA during the second quarter of 2026. We have addressed regulatory observations before, and we know how to resolve them. Our focus has been on strengthening the operational platform so that we can continue to scale the business globally.
"We have strengthened the leadership team, with Lisa Graver's appointment as Chief Executive Officer, and all the key management of the company is now located onsite in Iceland. Lisa and I have worked together for over twenty years, and she is ideally positioned to lead the company through this next stage. She knows the company very well, having been a board member since 2022, which gives her a deep understanding of our strategy, our platform and our global partnerships.
"As Executive Chairman of the Board I will continue to be actively engaged in the business, and I am looking forward working closely with Lisa and the leadership team as we continue building Alvotech into a leading biosimilars company."
Outlook for ...
