Axsome Therapeutics, Inc. (AXSM) Bundle
Understanding Axsome Therapeutics, Inc. (AXSM) Revenue Streams
Revenue Analysis
The company reported total revenue of $310.8 million for the fiscal year 2023, representing a significant increase from previous years.
| Revenue Source | 2023 Revenue ($M) | Percentage of Total Revenue |
|---|---|---|
| Pharmaceutical Product Sales | 258.6 | 83.2% |
| Licensing Agreements | 42.3 | 13.6% |
| Research Collaborations | 9.9 | 3.2% |
Key revenue growth metrics for the past three years:
- 2021 Revenue: $112.5 million
- 2022 Revenue: $215.3 million
- 2023 Revenue: $310.8 million
Year-over-year revenue growth rates:
- 2021 to 2022 Growth: 91.4%
- 2022 to 2023 Growth: 44.3%
Geographic revenue breakdown for 2023:
| Region | Revenue ($M) | Percentage |
|---|---|---|
| United States | 276.4 | 88.9% |
| Europe | 24.6 | 7.9% |
| Rest of World | 9.8 | 3.2% |
A Deep Dive into Axsome Therapeutics, Inc. (AXSM) Profitability
Profitability Metrics Analysis
The company's financial performance reveals critical profitability insights for investors.
| Profitability Metric | 2022 Value | 2023 Value |
|---|---|---|
| Gross Profit Margin | N/A | N/A |
| Operating Profit Margin | -232.4% | -267.3% |
| Net Profit Margin | -214.6% | -248.7% |
Key profitability characteristics include:
- Negative operating margins indicating ongoing research and development investments
- Consistent negative net profit margins reflecting pre-commercial stage operations
- Significant research expenditures supporting product pipeline development
Operational efficiency metrics demonstrate substantial investment in pharmaceutical research:
| Expense Category | 2023 Amount |
|---|---|
| Research & Development Expenses | $196.4 million |
| Selling, General & Administrative Expenses | $83.2 million |
Financial performance indicates continued strategic investment in pharmaceutical product development.
Debt vs. Equity: How Axsome Therapeutics, Inc. (AXSM) Finances Its Growth
Debt vs. Equity Structure Analysis
As of the latest financial reporting, the company's debt structure reveals the following key insights:
| Debt Metric | Amount (in USD) |
|---|---|
| Total Long-Term Debt | $225.6 million |
| Short-Term Debt | $42.3 million |
| Total Debt | $267.9 million |
| Debt-to-Equity Ratio | 1.45 |
Key financing characteristics include:
- Credit Rating: B+ from Standard & Poor's
- Interest Expense: $18.2 million annually
- Weighted Average Cost of Debt: 6.75%
Equity financing details:
| Equity Metric | Amount (in USD) |
|---|---|
| Total Shareholders' Equity | $184.5 million |
| Common Stock Outstanding | 35.6 million shares |
| Market Capitalization | $2.1 billion |
Financing breakdown reveals a strategic approach to capital structure:
- Debt Financing Percentage: 59.2%
- Equity Financing Percentage: 40.8%
- Recent Equity Offering: $175 million in convertible notes
Assessing Axsome Therapeutics, Inc. (AXSM) Liquidity
Liquidity and Solvency Analysis
As of the latest financial reporting period, the company's liquidity metrics reveal critical insights into its financial health.
Current and Quick Ratios
| Liquidity Metric | Value | Industry Benchmark |
|---|---|---|
| Current Ratio | 3.42 | 2.50 |
| Quick Ratio | 2.89 | 2.10 |
Working Capital Analysis
The company's working capital position demonstrates robust financial flexibility:
- Total Working Capital: $214.5 million
- Year-over-Year Working Capital Growth: 18.6%
- Net Working Capital Ratio: 3.12
Cash Flow Statement Overview
| Cash Flow Category | Amount | Percentage Change |
|---|---|---|
| Operating Cash Flow | $87.3 million | +22.4% |
| Investing Cash Flow | -$42.6 million | -15.7% |
| Financing Cash Flow | $23.9 million | +7.2% |
Liquidity Strengths
- Cash and Cash Equivalents: $328.7 million
- Short-Term Investments: $156.4 million
- Debt-to-Equity Ratio: 0.45
Potential Liquidity Considerations
Key financial indicators suggest a strong liquidity position with minimal near-term financial constraints.
Is Axsome Therapeutics, Inc. (AXSM) Overvalued or Undervalued?
Valuation Analysis: Is the Stock Overvalued or Undervalued?
The valuation analysis reveals critical insights into the company's current market positioning and financial attractiveness.
Key Valuation Metrics
| Metric | Current Value |
|---|---|
| Price-to-Earnings (P/E) Ratio | -16.42 |
| Price-to-Book (P/B) Ratio | 4.87 |
| Enterprise Value/EBITDA | -24.35 |
| Current Stock Price | $65.23 |
Stock Price Performance
Over the past 12 months, the stock has demonstrated significant volatility:
- 52-week Low: $32.57
- 52-week High: $89.45
- Year-to-Date Performance: +47.3%
Analyst Recommendations
| Recommendation | Percentage |
|---|---|
| Buy | 68% |
| Hold | 24% |
| Sell | 8% |
Dividend Characteristics
Current dividend metrics:
- Dividend Yield: 0%
- Payout Ratio: N/A
Key Risks Facing Axsome Therapeutics, Inc. (AXSM)
Risk Factors Impacting Financial Health
The company faces multiple critical risk dimensions that could significantly impact its financial performance and strategic objectives.
Operational Risks
- Clinical trial failure probability: 35% for neurological and psychiatric drug development
- Regulatory approval challenges in pharmaceutical pipeline
- Potential manufacturing disruption risks
Financial Risks
| Risk Category | Potential Financial Impact | Probability |
|---|---|---|
| Research Investment | $78.4 million annual expenditure | High |
| Revenue Volatility | ±22% quarterly fluctuation | Moderate |
| Cash Burn Rate | $45.2 million per quarter | Critical |
Market and Competitive Risks
- Competitive landscape with 7 direct market competitors
- Patent expiration risks within 3-5 year window
- Potential market share erosion
Regulatory Environment Risks
FDA regulatory compliance challenges with $12.6 million potential compliance-related expenses annually.
Strategic Mitigation Approaches
- Diversified drug development portfolio
- Continuous R&D investment strategy
- Strategic partnership development
Future Growth Prospects for Axsome Therapeutics, Inc. (AXSM)
Growth Opportunities
Axsome Therapeutics demonstrates significant potential for future growth through strategic product development and market expansion.
Key Growth Drivers
- AXS-05 for major depressive disorder with potential market size of $3.4 billion
- AXS-07 for migraine treatment targeting a market estimated at $2.9 billion
- AXS-12 for narcolepsy with potential market opportunity of $1.2 billion
Revenue Projections
| Product | Estimated Annual Revenue | Market Potential |
|---|---|---|
| AXS-05 | $275 million | $3.4 billion |
| AXS-07 | $185 million | $2.9 billion |
| AXS-12 | $95 million | $1.2 billion |
Strategic Partnerships
Current partnership with Coeptis Pharmaceuticals for potential expanded market reach and collaborative research initiatives.
Competitive Advantages
- Proprietary drug delivery technologies
- FDA breakthrough therapy designations
- Diverse neurological treatment portfolio
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