Logo

ASRT

Assertio Holdings, Inc.

ASRT

Assertio Holdings, Inc. • NASDAQ
$0.74 ▲ 1.96% (+0.01)
Market Cap $70.97 M
52w High $1.08
52w Low $0.51
Dividend Yield 0%
P/E -2.46
Volume 153.80K
Outstanding Shares 96.25M

Income Statement

Period Revenue Operating Expense Net Income Net Profit Margin Earnings Per Share EBITDA
Q3-2025 $49.459M ▲ $24.327M ▼ $11.445M ▲ 23.14% ▲ $0.12 ▲ $17.798M ▲
Q2-2025 $29.222M ▲ $26.58M ▼ $-16.352M ▼ -55.958% ▼ $-0.17 ▼ $-6.379M ▼
Q1-2025 $26.488M ▼ $31.935M ▼ $-13.541M ▼ -51.121% ▼ $-0.14 ▼ $-3.377M ▼
Q4-2024 $32.183M ▲ $34.046M ▲ $-10.476M ▼ -32.551% ▼ $-0.11 ▼ $-2.09M ▼
Q3-2024 $29.204M $24.702M $-2.921M -10.002% $-0.03 $4.484M

Balance Statement

Period Cash & Short-term Total Assets Total Liabilities Total Equity
Q3-2025 $93.427M ▼ $319.775M ▲ $213.972M ▲ $105.803M ▲
Q2-2025 $98.183M ▲ $273.78M ▼ $180.482M ▲ $93.298M ▼
Q1-2025 $87.325M ▼ $286.426M ▲ $177.896M ▲ $108.53M ▼
Q4-2024 $100.054M ▲ $284.732M ▲ $163.651M ▲ $121.081M ▼
Q3-2024 $88.579M $275.999M $145.481M $130.518M

Cash Flow Statement

Period Net Income Cash From Operations Cash From Investing Cash From Financing Net Change Free Cash Flow
Q3-2025 $11.445M ▲ $-4.767M ▼ $-3.812M ▲ $-7K ▲ $-8.586M ▼ $-4.767M ▼
Q2-2025 $-16.352M ▼ $19.091M ▲ $-6.94M ▼ $-69K ▲ $12.082M ▲ $19.091M ▲
Q1-2025 $-13.541M ▼ $-12.538M ▼ $-2.935M ▼ $-111K ▼ $-15.584M ▼ $-12.538M ▼
Q4-2024 $-10.476M ▼ $11.548M ▲ $1.118M ▲ $-59K ▼ $12.607M ▲ $11.548M ▲
Q3-2024 $-2.921M $-35K $-6.709M $-10K $-6.754M $-35K

Revenue by Products

Product Q3-2024Q4-2024Q1-2025Q2-2025
INDOCIN Products
INDOCIN Products
 $10.00M ▲$20.00M ▲$10.00M ▼$0 ▼
Product
Product
 $30.00M ▲$90.00M ▲$30.00M ▼$30.00M ▲
Product Other
Product Other
 $0 ▲$0 ▲$0 ▲$0 ▲
Royalty
Royalty
 $0 ▲$0 ▲$0 ▲$0 ▲
SPRIX Nasal Spray
SPRIX Nasal Spray
 $0 ▲$10.00M ▲$0 ▼$0 ▲
CAMBIA
CAMBIA
 $0 ▲$0 ▲$0 ▲$0 ▲
Otrexup
Otrexup
 $0 ▲$10.00M ▲$0 ▼$0 ▲
Royalties And Milestones
Royalties And Milestones
 $0 ▲$0 ▲$0 ▲$0 ▲

Five-Year Company Overview

Income Statement

Income Statement Over the past several years, Assertio’s sales have been relatively small and generally flat, with a modest rise through 2022 followed by a pullback in 2023 and 2024. Gross margins look strong, meaning the company keeps a large share of each dollar of sales after direct costs. The issue is further down the income statement: operating profit moved from losses in 2020 to a small profit in 2022, then swung back to noticeable losses in 2023 and continued to be slightly negative in 2024. That pattern suggests one-off charges or heavier spending, plus some revenue pressure, drove the setback in 2023. Overall, the company has shown it can be profitable in the right conditions, but earnings have been volatile and recently under pressure.

Balance Sheet

Balance Sheet The balance sheet is modest in size but generally improving versus a few years ago. Total assets have stayed fairly stable, while shareholders’ equity has grown compared with the earlier period, which points to gradual strengthening of the capital base despite recent losses. Debt has been trimmed over time and now sits at a relatively low level, reducing financial risk. Cash on hand increased meaningfully from 2020 into 2023, then dipped in 2024, but still represents a reasonable liquidity cushion for a company of this scale. Overall, the financial position looks more solid than it used to be, but not flush, so management still needs to be careful with capital allocation.

Cash Flow

Cash Flow Cash generation is a relative bright spot. After burning cash in 2020, Assertio has produced positive operating cash flow in each of the following years, with a particularly strong year in 2022 and still positive, though lower, cash flow in 2023 and 2024. Because the business requires essentially no heavy capital spending, free cash flow closely tracks operating cash flow and has also been positive in recent years. This means that even in years when accounting profits are negative, the company has still been able to bring in cash, which helps support ongoing operations, debt service, and selective business development.

Competitive Edge

Competitive Edge Assertio operates in niche corners of the specialty and generic drug market, focusing on pain, neurology, and oncology. Its edge comes less from discovering brand‑new molecules and more from smarter ways of delivering existing ones—faster onset of action, easier administration, or better fit for specific patient groups. Products like Cambia, Sympazan, Zipsor, Sprix, and now Rolvedon each offer some practical advantage, such as same‑day dosing, rapid pain relief, or more convenient dosage forms. These differentiated formulations, along with related intellectual property and commercial know‑how, form a modest but real moat. At the same time, Assertio competes against much larger pharmaceutical players and biosimilars, and it depends on a relatively concentrated portfolio, which heightens product‑specific and reimbursement risks.

Innovation and R&D

Innovation and R&D The company’s innovation model centers on formulation and delivery technology rather than traditional early‑stage research. Assertio typically acquires or licenses late‑stage or already approved products, then uses its specialty sales and market access capabilities to commercialize them. This can reduce scientific risk and shorten the time from deal to revenue, but it makes growth highly dependent on management’s ability to find and integrate attractive assets at reasonable prices. The portfolio includes several innovative delivery approaches—oral films, powders, rapid‑absorption capsules, nasal sprays, and a differentiated long‑acting injectable. However, the internal R&D engine appears limited, so future innovation is likely to come mainly from business development rather than from a deep in‑house pipeline.

Summary

Assertio is a small, specialty‑focused pharmaceutical company that has built a collection of differentiated products rather than a traditional discovery pipeline. Financially, it has demonstrated the ability to generate solid margins and positive cash flow, but profits have been uneven and recently negative, pointing to execution and scale challenges. The balance sheet has improved over time, with lower debt and higher equity, though cash levels are not abundant and leave limited room for large missteps. Competitively, Assertio’s strength lies in targeted niches, patient‑friendly formulations, and a commercial model built on acquiring and optimizing under‑served assets. Its main opportunities are to unlock more value from Rolvedon and the existing portfolio and to execute smart acquisitions. Key risks include reliance on a small number of products, intense competition from larger drug makers and generics, and the need for continued deal flow to sustain growth in the absence of a robust internal R&D pipeline.

NEWS

November 10, 2025 · 4:13 PM UTC

Assertio Reports Third Quarter 2025 Financial Results

Read more

October 28, 2025 · 9:15 AM UTC

Assertio Announces Leadership Transition

Read more

September 23, 2025 · 4:37 PM UTC

Spectrum Pharmaceuticals (SPPI) and Assertio Holdings (ASRT) Investor Alert: FINAL DEADLINE in Securities Lawsuit– Hagens Berman

Read more

September 23, 2025 · 8:36 AM UTC

CLASS ACTION DEADLINE APPROACHING: Berger Montague Advises Spectrum Pharmaceuticals (NASDAQ: SPPI) Investors to Inquire About a Securities Fraud Class Action by September 24, 2025

Read more

September 21, 2025 · 11:23 AM UTC

Spectrum Pharmaceuticals (SPPI) and Assertio Holdings (ASRT) Investor Alert: 3-DAY DEADLINE in Securities Lawsuit– Hagens Berman

Read more