Amphastar Pharmaceuticals, Inc., established in 1996 and based in Rancho Cucamonga, California, functions as a biopharmaceutical enterprise. The company is engaged in ...
Amphastar Pharmaceuticals, Inc. is a biopharmaceutical enterprise established in 1996 and headquartered in Rancho Cucamonga, California. The company focuses on the development, production, commercialization, and distribution of both generic and proprietary pharmaceutical products, primarily in the form of injectables, inhalants, and intranasal formulations. Its market presence extends across the United ...Amphastar Pharmaceuticals, Inc. is a biopharmaceutical enterprise established in 1996 and headquartered in Rancho Cucamonga, California. The company focuses on the development, production, commercialization, and distribution of both generic and proprietary pharmaceutical products, primarily in the form of injectables, inhalants, and intranasal formulations. Its market presence extends across the United States, China, and France, and it operates through two primary segments: Finished Pharmaceutical Products and Active Pharmaceutical Ingredients (API).
Amphastar's product portfolio includes key medications such as Primatene Mist, an OTC epinephrine inhaler for mild asthma; Enoxaparin, a low molecular weight heparin for deep vein thrombosis; and Naloxone for opioid overdose. Other offerings include emergency Glucagon injection kits, Cortrosyn for diagnostic use, and Amphadase, a hyaluronidase injection. The company also supplies Epinephrine for allergic reactions, various lidocaine products, Phytonadione (Vitamin K1) for newborns, and specialty emergency syringes. Advanced therapeutics include Neostigmine methylsulfate for myasthenia gravis and Isoproterenol for heart block. Additionally, Amphastar distributes recombinant human insulin and porcine insulin APIs.
Financially, Amphastar has shown profitability with a net profit margin of approximately 10.8% (TTM), and its gross profit margin stands at 47.7%. The company's R&D spending is about 13% of revenue, reflecting a commitment to innovation. With a price-to-earnings ratio of 11.94 and a price-to-book of 1.18, it is valued reasonably in the market. The company has a current ratio of 2.4, indicating good liquidity, and a debt-to-equity ratio of 0.9.
Founded by Jack Zhang, Ph.D., who currently serves as CEO, President, and Chief Scientific Officer, Amphastar has grown to employ 1,976 people. Its facilities are cGMP-compliant, ensuring high-quality manufacturing. The company went public in June 2014 and is listed on NASDAQ under the symbol AMPH. With a strong pipeline and diverse product line, Amphastar aims to address unmet medical needs and expand its global footprint. The company's mission is to provide affordable, high-quality pharmaceuticals to improve patient outcomes.
YoYYoY means Year-over-Year. It compares the latest annual value with the previous annual value to show long-term trend strength.
QoQQoQ means Quarter-over-Quarter. It compares the latest quarter with the immediately previous quarter to show short-term momentum changes.
RevenueThe total money that came through the front door from selling things, before paying a single bill. Think of it as the grand total of every credit card swipe from customers. (YoY compares this year to last year's performance, while QoQ compares the current three months to the previous three).
$719.9M
-1.7%
-6.5%
Net IncomeThe absolute bottom line. If the company paid every single supplier, employee, banker, and tax collector, this is the actual money left in their pocket at the end of the day.
$98.1M
-38.5%
-73.7%
Gross MarginThe basic markup. If they sell a $100 pair of sneakers, this percentage tells you how much of that price tag is profit right after paying for the rubber and shoelaces, but before paying for things like store rent or TV commercials.
+49.5%
-3.2%
-12.2%
Operating MarginThe 'day job' efficiency score. Out of every dollar a customer spends, this shows how many cents the company keeps after making the product AND paying for all the everyday corporate overhead (like salaries, marketing, and keeping the lights on).
+19.5%
-30.5%
-59.1%
Net MarginThe final take-home percentage. When you strip away every conceivable cost, tax, and interest payment, this is the exact number of cents the company truly gets to keep from every dollar in sales.
+13.6%
-37.5%
-71.9%
Free Cash FlowThe holy grail of corporate cash. It's the spendable, physical money left over after the business pays for its daily operations AND buys the big, expensive upgrades (like new factories or servers) it needs to survive. This is the 'free' money they can use to pay dividends or buy back stock.
$121.2M
-29.7%
+11.5%
FCF MarginThe ultimate cash conversion rate. It shows how good the company is at turning regular sales directly into cold, hard, spendable cash. A high percentage means the business is an absolute cash-printing machine.
+16.8%
-28.5%
+19.3%
Debt / EquityThe financial risk gauge. It compares how much of the company's empire was built using borrowed money (loans) versus the owners' own money (shareholders). A high number means they are heavily leveraged and playing a riskier game; a low number means they are playing it safe.
83.2%
-6.4%
+1.0%
Current RatioThe 12-month survival check. It simply compares the cash they have right now (plus things they can quickly turn into cash) against the immediate bills they absolutely must pay this year. A score above 1 means they have enough in the wallet to cover the upcoming bills without panicking.
4.02x
+30.8%
-37.8%
Total AssetsThe absolute size of the company's empire. It bundles together absolutely everything of value they own—from the cash in the register and the inventory in the warehouse, to the software patents in the vault and the factories on the ground.
Operator: Greetings, and welcome to the Amphastar Pharmaceuticals First Quarter Earnings Call. [Operator Instructions] Please note that certain statements made during this call regarding matters that are not historical facts, including, but not limited to, management's outlook or predictions for future periods are forward-looking statements. These statements are based solely on information that is now available to us. We encourage you to review the section entitled Forward-Looking Statements in the press release issued today and in the presentation on the company's website. Also, please refer to our SEC filings, which can be found on our company's website and the SEC's website for a discussion of numerous factors that may impact our future performance. We will also discuss certain non-GAAP measures. Important information on our use of these measures and reconciliations to U.S. GAAP may be found in our earnings release. Please note, this conference is being recorded. Our speakers today are Mr. Bill Peters, CFO; Mr. Dan Dischner, Senior Vice President of Corporate Communications; and Mr. Tony Marrs, Executive Vice President of Regulatory Affairs and Clinical Operations. I will now turn the conference over to your host, Mr. Dan Dischner, Senior Vice President of Corporate Communications. Dan, you may begin.
Dan Dischner: Thank you, Paul. Good afternoon, everyone, and thank you for joining Amphastar's First Quarter 2026 Earnings Call. Before we begin, I'd like to recognize the continued dedication of our employees across Amphastar. Their commitment to ensuring reliable access to essential medicines remains central to who we are and how we operate. Our first quarter performance demonstrated the continued strength and balance of our underlying business amid a rapidly evolving market landscape with solid commercial execution across our branded and differentiated portfolio alongside meaningful progress in our pipeline. We are actively managing near-term pricing and competitive pressures across certain legacy products with discipline and focus and remain confident that the strategic investments we are making today in our branded portfolio, biosimilars, complex generic pipeline and manufacturing infrastructure are building the foundation for durable long-term growth. We reported net revenues of approximately $171.2 million for the first quarter, reflecting a return to growth, driven primarily by contributions from recent product launches, while overall performance across the base business remained stable. We saw continued strength in key areas. partially offset by pricing pressure, product mix shifts and increased competition, trends that are broadly consistent with the current market environment. We continue to deploy capital towards initiatives that we believe will drive long-term growth. And while the full benefits of these investments are not yet visible in our financials, we remain confident in the value they will create. From a strategic …