Alvotech Reports Q3 Revenue Growth Amid Significant Earnings Miss
Alvotech (NASDAQ: ALVO) reported third-quarter revenue of $58.2 million, representing a significant year-over-year increase of 78.5%. Despite this top-line growth, the results fell short of expectations by $70.2 million. The company's adjusted EBITDA rose to $78.3 million, up from $68.0 million in the prior year period. However, Alvotech saw a substantial decrease in its cash position, ending the quarter with $61.5 million compared to $172.4 million in the previous year.
Tickers: $ALVO