AMICUS THERAPEUTICS Reports 17.1% Increase in Second Quarter FY2023 Revenue of USD 94.5 Million
August 27, 2023
☀️Earnings Overview
AMICUS THERAPEUTICS ($NASDAQ:FOLD) reported total revenue of USD 94.5 million for the second quarter of their fiscal year 2023, a 17.1% increase from the same period in the previous year. However, net income for the quarter decreased by -62.2 million compared to the year before, amounting to USD -43.2 million.
Analysis
GoodWhale has conducted an analysis of AMICUS THERAPEUTICS‘s wellbeing and the results have been encapsulated in the Star Chart. According to the chart, AMICUS THERAPEUTICS has a low health score of 2/10 with regard to its cashflows and debt, indicating it is less likely to pay off debt and fund future operations. On the other hand, the company is strong in terms of growth, medium in asset and weak in dividend, profitability. As such, GoodWhale has classified AMICUS THERAPEUTICS as a ‘cheetah’ type of company, which is one that achieved high revenue or earnings growth but is considered less stable due to lower profitability. Given the high growth potential yet relatively lower profitability and stability, AMICUS THERAPEUTICS may be an attractive option for investors who have a higher appetite for risk. These may include venture capitalists, angel investors, and growth-oriented private equity firms. They may be interested in investing in AMICUS THERAPEUTICS due to its high growth potential, despite the lower stability. More…
About the Company
Income Snapshot
Below shows the total revenue, net income and net margin for Amicus Therapeutics. More…
| Total Revenues | Net Income | Net Margin |
| 350.56 | -185.31 | -51.8% |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for Amicus Therapeutics. More…
| Operations | Investing | Financing |
| -126.6 | 94.07 | 15.85 |
Balance Sheet Snapshot
Below shows the total assets, liabilities and book value per share for Amicus Therapeutics. More…
| Total Assets | Total Liabilities | Book Value Per Share |
| 730.09 | 618.51 | 0.39 |
Key Ratios Snapshot
Some of the financial key ratios for Amicus Therapeutics are shown below. More…
| 3Y Rev Growth | 3Y Operating Profit Growth | Operating Margin |
| 15.6% | – | -42.2% |
| FCF Margin | ROE | ROA |
| -38.0% | -86.4% | -12.7% |
Peers
The company’s competitors include SpringWorks Therapeutics Inc, Synthetic Biologics Inc, and Tonix Pharmaceuticals Holding Corp.
– SpringWorks Therapeutics Inc ($NASDAQ:SWTX)
Springs Works Therapeutics is a clinical-stage biopharmaceutical company that focuses on the development of treatments for patients with psychiatric and neurological disorders. The company’s most advanced product candidate is brexanolone, which is in Phase III clinical trials for the treatment of postpartum depression. Springs Works has a market cap of $1.52 billion and a return on equity of -64.67%.
– Synthetic Biologics Inc ($NYSEAM:SYN)
The company’s market cap is 28.98M as of 2022 and its ROE is -26.13%. The company’s products include prescription and over-the-counter drugs, as well as medical devices and supplies. The company has operations in the United States, Europe, Asia, and Latin America. The company’s products are sold through a network of retail pharmacies, wholesalers, and distributors.
Summary
Amicus Therapeutics reported strong results for the second quarter of FY2023, with total revenue of USD 94.5 million, a 17.1% increase from the same period the previous year. Net income declined by -62.2 million from the previous year to USD -43.2 million. Despite the overall decline in net income, investors reacted positively to the news, as the stock price moved up the same day. In conclusion, Amicus Therapeutics appears to be a company worth investing in, given its positive revenue growth and potential future returns.
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