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ALVOW

Alvotech

ALVOW

Alvotech • NASDAQ
$0.64 ▼ -8.71% (-0.06)
Market Cap $1.33 B
52w High $1.52
52w Low $0.64
Dividend Yield 0%
P/E 0
Volume 301
Outstanding Shares 1.94B

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 stage: revenue has grown quickly from a very small base, and the core business is clearly scaling, but the company remains loss‑making. Gross profit has turned positive and operating losses have narrowed meaningfully over the past few years, suggesting better efficiency and rising utilization of its manufacturing platform. However, net income is still clearly negative, and per‑share losses remain sizable. In plain terms: the top line is finally starting to move, profitability metrics are improving, but the company is not yet close to a stable, mature earnings profile.

Balance Sheet

Balance Sheet The balance sheet shows a capital‑intensive business financed largely with debt and burdened by accumulated losses. Total assets have expanded as the company invested in its manufacturing base and pipeline, but equity is deeply negative, reflecting years of losses outweighing capital injections. Debt levels are high relative to the size of the business, while cash balances are modest, leaving a thin financial cushion. This structure underscores balance‑sheet risk and a strong ongoing dependence on lenders and/or future capital raises to support operations and growth plans.

Cash Flow

Cash Flow Cash flow is consistently negative and has not yet shown a clear turn toward self‑funding. Operating cash outflows are sizeable and fairly persistent, indicating that the business still consumes cash to run its day‑to‑day activities. Free cash flow is also negative, as ongoing investment in facilities and equipment adds to the cash burn, even though capital spending is not extreme by industry standards. Overall, Alvotech remains in a cash‑consuming growth phase and will likely need continued access to external financing until its product portfolio matures and scales further.

Competitive Edge

Competitive Edge Alvotech has carved out a focused position as a pure‑play biosimilar manufacturer with a fully integrated development and production platform. Its modern Iceland facility, use of single‑use bioreactors, and end‑to‑end control from cell line to fill‑finish provide cost, speed, and flexibility advantages. The strategy of pursuing interchangeable biosimilars and patient‑friendly formulations (such as high‑concentration, citrate‑free versions of major drugs) can help it stand out in a crowded market. In addition, commercialization alliances with large partners like Teva and STADA extend its reach into major regions without having to build full sales infrastructures itself. The flip side is that biosimilars face intense pricing pressure, complex regulation, and legal challenges, so maintaining these advantages will require continuous execution and scale.

Innovation and R&D

Innovation and R&D Innovation and R&D are central to Alvotech’s identity. The company has built a global R&D footprint focused on complex biologics, with capabilities spanning cell line development, process optimization, clinical development, and regulatory affairs. It already has several approved or launched biosimilars to blockbuster biologics in immunology and bone health, which validates its technical and regulatory know‑how. The pipeline includes late‑stage candidates for important eye and inflammatory drugs and earlier‑stage programs targeting some of the largest oncology and autoimmune therapies in the world. The emphasis on interchangeability, improved formulations, and simultaneous multi‑region filings shows a sophisticated approach to R&D and market access, but it also means the company’s future remains highly sensitive to clinical outcomes, regulatory reviews, and partner execution.

Summary

Alvotech is a specialist biosimilar company with a modern, vertically integrated manufacturing platform and a growing portfolio of complex biologic copies aimed at very large reference markets. Commercial traction is starting to show up in the income statement, and operating performance has improved, but the business is still firmly in the investment and scale‑up phase. Financially, the combination of continued losses, negative equity, high leverage, and ongoing cash burn points to elevated funding and balance‑sheet risk. Strategically, strong technical capabilities, a differentiated focus on interchangeable and patient‑friendly biosimilars, and global partnerships provide meaningful opportunity. Overall, this is a high‑potential, high‑uncertainty profile that depends heavily on successful pipeline execution, regulatory progress, and the ability to secure sufficient capital while the business matures.