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ANI Pharmaceuticals, Inc., a biopharmaceutical company, develops, manufactures, and markets branded and generic pharmaceutical products in the United States and internationally. The company provides injectables, softgel capsules, and Cortrophin gel, as well as ILUVIEN and YUTIQ products. It also manufactures oral solid dose products, semi-solids, liquids, topicals, controlled substances, and potent products. The company serves its products to national wholesalers, specialty pharmacies, retail pharmacy chains, distributors, mail order houses, group purchasing organizations, and hospitals and healthcare providers. ANI Pharmaceuticals, Inc. was incorporated in 2001 and is headquartered in Baudette, Minnesota.
5-year financial trends. Figures in USD millions.
Latest fiscal year: 2025
Year-by-year revenue, profitability, and cash flow (USD millions, last 10 years)
| Year | Revenue | EBITDA | Net Profit | FCF | ROE | Rev Growth 1Y | NP Growth 1Y |
|---|---|---|---|---|---|---|---|
| 2025 | $883M | $207M | $78M | $151M | 14.5% | 43.8% | -522.9% |
| 2024 | $614M | $63M | $-19M | $47M | -4.6% | 26.2% | -198.6% |
| 2023 | $487M | $107M | $19M | $100M | 4.3% | 53.9% | -139.2% |
| 2022 | $316M | $25M | $-48M | $-48M | -15.3% | - | - |
| 2021 | - |
Income statement, balance sheet, and cash flow as reported
Consolidated Figures in USD Millions.
| Metric | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Total Revenue | - | 316.38 | 486.82 | 614.38 | 883.37 |
| Cost Of Revenue | - | 138.78 | 181.51 | 250.21 | 341.31 |
| Gross Profit | - | 177.60 | 305.30 | 364.17 | 542.06 |
| Operating Expense | - | 203.33 | 255.77 | 361.95 | 460.83 |
| Operating Income | - | -25.73 | 49.53 | 2.22 | 81.23 |
| EBITDA | - | 25.04 | 106.60 | 63.12 | 207.27 |
| EBIT | - | -34.61 | 46.81 | -4.61 | 115.85 |
| Pretax Income | - | -62.66 | 19.87 | -22.21 | 95.79 |
| Tax Provision | - | -14.77 | 1.09 | -3.69 | 17.45 |
| Net Income | - | -47.90 | 18.78 | -18.52 | 78.34 |
| Net Income Common Stockholders | - | -49.52 | 15.48 | -20.15 | 70.22 |
| Total Expenses | - | 342.12 | 437.29 | 612.16 | 802.14 |
| Interest Expense | - | 28.05 | 26.94 | 17.60 | 20.06 |
| Research And Development | - | 22.32 | 34.29 | 44.58 | 51.66 |
| Selling General And Administration | - | 124.04 | 161.70 | 249.64 | 317.74 |
| Normalized EBITDA | - | 34.59 | 109.16 | 65.92 | 174.58 |
| Normalized Income | - | -40.60 | 21.20 | -16.19 | 51.60 |
| Market Cap | 1,789.08 | 1,789.08 | 1,789.08 | 1,789.08 | 1,789.08 |
Healthcare sector peers, ranked by market cap
| Company | Ticker | Market Cap | P/E | P/B | ROE | EV/EBITDA |
|---|---|---|---|---|---|---|
| ANI Pharmaceuticals, Inc.this co. | ANIP | - | 22.84 | 3.31 | 14.5% | 10.23 |
| Actuate Therapeutics, Inc. Common stock | ACTU | $68M | - | 8.45 | -280.5% | - |
| LENSAR, Inc. | LNSR | $65M | - | -2.48 | 131.7% | -3.17 |
| Pulmonx Corporation | LUNG | $51M | - | 0.92 | -99.8% | -0.71 |
| Accuray Incorporated | ARAY | $50M |
| - |
| - |
| - |
| - |
| - |
| - |
| - |
| 0.94 |
| -2.0% |
| -107.66 |
| INmune Bio Inc. | INMB | $35M | - | 1.50 | -195.3% | -0.38 |
| Myomo, Inc. | MYO | $31M | - | 2.68 | -136.6% | -2.33 |
| Tvardi Therapeutics, Inc. | TVRD | $29M | - | 1.37 | -87.0% | 0.07 |
| Tevogen Bio Holdings Inc. | TVGN | $27M | - | -1.52 | 319.1% | -1.64 |
| Peer Median | - | - | 1.15 | -93.4% | -1.64 | |