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ALVO

Alvotech

ALVO

Alvotech • NASDAQ
$5.10 ▼ -0.97% (-0.05)
Market Cap $1.59 B
52w High $13.70
52w Low $4.70
Dividend Yield 0%
P/E 22.17
Volume 340.13K
Outstanding Shares 311.60M

Income Statement

Period Revenue Operating Expense Net Income Net Profit Margin Earnings Per Share EBITDA
Q3-2025 $113.953M ▼ $77.564M ▼ $-5.218M ▼ -4.579% ▼ $-0.017 ▼ $3.685M ▼
Q2-2025 $173.239M ▲ $81.357M ▲ $32.038M ▼ 18.494% ▼ $0.11 ▼ $51.742M ▼
Q1-2025 $132.765M ▼ $56.736M ▼ $109.68M ▲ 82.612% ▲ $0.39 ▲ $137.219M ▲
Q4-2024 $151.205M ▲ $57.404M ▲ $-66.967M ▼ -44.289% ▼ $-0.22 ▼ $-119.982M ▼
Q3-2024 $102.887M $50.349M $-11.393M -11.073% $-0.041 $138.218M

Balance Statement

Period Cash & Short-term Total Assets Total Liabilities Total Equity
Q3-2025 $42.848M ▼ $1.409B ▲ $1.586B ▲ $-176.763M ▼
Q2-2025 $151.452M ▲ $1.393B ▲ $1.566B ▲ $-173.328M ▲
Q1-2025 $38.544M ▼ $1.245B ▲ $1.548B ▼ $-302.287M ▲
Q4-2024 $51.428M ▼ $1.221B ▼ $1.634B ▲ $-412.771M ▼
Q3-2024 $118.274M $1.233B $1.577B $-343.707M

Cash Flow Statement

Period Net Income Cash From Operations Cash From Investing Cash From Financing Net Change Free Cash Flow
Q3-2025 $-5.252M ▼ $-55.575M ▼ $-39.451M ▼ $-13.245M ▼ $-108.604M ▼ $-74.501M ▼
Q2-2025 $32.038M ▼ $55.742M ▲ $-28.603M ▼ $83.147M ▲ $112.908M ▲ $42.124M ▲
Q1-2025 $109.68M ▲ $12.549M ▲ $-20.395M ▲ $-5.839M ▼ $-12.884M ▲ $-10.821M ▲
Q4-2024 $-66.967M ▼ $-39.202M ▲ $-31.052M ▼ $4.296M ▼ $-66.846M ▼ $-70.254M ▲
Q3-2024 $-11.393M $-71.641M $22.753M $155.828M $107.33M $-85.461M

Five-Year Company Overview

Income Statement

Income Statement Alvotech is still in the build‑out phase: sales have been very small historically but appear to have stepped up sharply in the most recent year. The business has moved from consistently heavy operating losses toward roughly break‑even at the operating level, which suggests early operating leverage as products and partnerships start to scale. That said, the company remains clearly loss‑making at the bottom line, and profitability is not yet established or stable. The overall picture is of a company exiting a pure R&D stage and entering an early commercial phase, with improving but still fragile economics.

Balance Sheet

Balance Sheet The balance sheet is stretched. Total assets have grown steadily as the company has invested in its manufacturing platform and pipeline, but this has been funded largely with debt rather than retained profits. Equity is meaningfully negative, which signals that accumulated losses and financing structure weigh heavily on the capital base. Cash on hand is relatively thin compared with the overall size of the balance sheet and the debt load, leaving limited room for error and a continued dependence on external funding or refinancing to support operations and growth plans.

Cash Flow

Cash Flow Alvotech is consistently burning cash. Operating cash flow has been negative for several years, reflecting ongoing losses and the cash cost of building out its portfolio and capabilities. Free cash flow is even more negative because the company continues to invest in its facilities and technology, even though capital spending is not extreme by industry standards. In practice, this means the business is not yet self‑funding and must rely on debt or fresh capital to bridge the gap until its product portfolio can generate steadier, larger cash inflows.

Competitive Edge

Competitive Edge Within biosimilars, Alvotech has carved out a focused and differentiated position. Its vertical integration—from cell line development through manufacturing and clinical work—gives it tight control over quality, costs, and timelines, which can be a real advantage in a complex regulatory and technical field. Strategic partnerships with large pharmaceutical companies help it reach global markets without building full commercial infrastructures itself, and early approvals and interchangeability designations in key products show it can compete at the top tier. The flip side is that biosimilars are a crowded, price‑sensitive space, and success will depend on execution against much larger rivals, reliability of partners, and the company’s ability to keep winning timely approvals and tenders.

Innovation and R&D

Innovation and R&D Innovation is at the heart of Alvotech’s strategy. The company has invested heavily in a modern biologics facility, flexible manufacturing technologies, and in‑house cell line development, all tailored specifically for complex monoclonal antibodies. Its pipeline targets some of the biggest and most established biologic drugs across immunology, oncology, and ophthalmology, aiming for high‑value opportunities rather than lower‑impact copies. Acquisitions, like the R&D assets from Xbrane, and expanded alliances indicate an intent to broaden and deepen this pipeline over time. The opportunity is significant, but so is the execution risk: long development cycles, stringent regulatory hurdles, and the need to continually fund R&D can all strain a company with a still‑weak financial base.

Summary

Alvotech is transitioning from an R&D‑heavy developer into an early‑stage commercial biosimilar platform. On the positive side, revenue momentum is improving, operating performance is inching toward break‑even, and the company has built a credible technological and strategic position in a structurally growing market. However, the financial foundation remains fragile: persistent net losses, negative equity, a sizable debt load, and ongoing cash burn leave little margin for setbacks. Future outcomes will largely hinge on how quickly its growing portfolio of biosimilars can convert regulatory and partnership wins into stable, cash‑generating franchises, and whether management can balance ambitious R&D and expansion plans with the realities of its balance sheet and funding needs.

NEWS

November 24, 2025 · 12:43 PM UTC

Alvotech (ALVO) Faces Investor Scrutiny Amid Manufacturing Deficiencies Severely Impacting Assurances of 2025 Revenues and Adjusted EBITDA, Stock Tumbles 33% -- Hagens Berman

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November 24, 2025 · 5:30 AM UTC

Alvotech Announces Approval of AVT03, a Biosimilar to Prolia® and Xgeva® (denosumab) in the European Economic Area

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November 20, 2025 · 10:00 AM UTC

INVESTOR ALERT: Pomerantz Law Firm Investigates Claims On Behalf of Investors of Alvotech - ALVO

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November 20, 2025 · 4:00 AM UTC

Alvotech and Advanz Pharma Receive Marketing Approval Across the European Economic Area for Gobivaz®, a First-in-Market Biosimilar to Simponi® (golimumab)

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November 19, 2025 · 8:00 PM UTC

ALVO Investigation: Investors Encouraged to Contact Kirby McInerney LLP

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