Alvotech (ALVO) Income Statement
ALVO 2025 at a glance
Fiscal year ended December 31, 2025 · U.S. dollarsALVO revenue and net income
Where ALVO's revenue goes
2025Each bar shows an amount and its share of revenue. ALVO kept 4.8% of revenue as net income.
ALVO profit margins
ALVO growth rates
to 2025| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Revenue | +19.7% | +91.9% | +54.5% | — |
| Gross profit | +15.2% | +164.6% | +39.4% | — |
| Operating income | +12.3% | — | — | — |
| Net income | — | — | — | — |
| EPS (diluted) | — | — | — | — |
1-year change and average annual growth (CAGR) over 3, 5 and 10 fiscal years. "—" when a starting value was zero or negative.
ALVO quarterly EPS vs estimates
Alvotech beat the analyst EPS estimate in 3 of the last 8 quarters. Next report: November 11, 2026 (estimate $0.00).
ALVO income statement
| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|---|---|
| Revenue | $586.3M | $489.7M | $91.4M | $83.0M | $36.8M | $66.6M | $31.9M |
| Cost of revenue | $235.6M | $185.3M | $160.9M | $64.1M | $0 | $0 | $0 |
| Gross profit | $350.8M | $304.4M | −$69.4M | $18.9M | $36.8M | $66.6M | $31.9M |
| Research & development | $184.2M | $171.3M | $210.8M | $180.6M | $191.0M | $148.1M | $95.6M |
| Sales, general & admin | $90.9M | $61.5M | $73.0M | $186.7M | $84.1M | $58.9M | $48.6M |
| Total operating expenses | $272.6M | $234.7M | $285.4M | $365.4M | $272.2M | $204.2M | $93.4M |
| Operating income | $78.2M | $69.6M | −$354.9M | −$346.4M | −$235.5M | −$137.5M | −$61.4M |
| Interest income | $198.5M | $4.6M | $4.8M | $912,000 | $19,000 | $215,000 | $1.7M |
| Interest expense | $149.2M | $157.6M | $134.8M | $91.4M | $113.0M | $97.5M | $95.8M |
| Income before taxes | $136.3M | −$217.6M | −$651.0M | −$551.6M | −$149.2M | −$291.8M | −$209.4M |
| Income taxes | $108.4M | $14.3M | −$99.3M | −$38.1M | −$47.7M | −$121.7M | $491,000 |
| Net income | $27.9M | −$231.9M | −$551.7M | −$513.6M | −$101.5M | −$170.0M | −$209.9M |
| EBITDA | $323.4M | −$32.3M | −$493.7M | −$439.8M | −$18.0M | −$177.9M | −$99.0M |
| EPS (diluted) | $0.28 | −$1.43 | −$3.42 | −$5.53 | $0.13 | −$0.30 | −$0.86 |
| Gross margin | 59.8% | 62.2% | −75.9% | 22.8% | 100.0% | 100.0% | 100.0% |
| Operating margin | 13.3% | 14.2% | −388.1% | −417.3% | −640.3% | −206.5% | −192.5% |
| Net margin | 4.8% | −47.3% | −603.4% | −618.6% | −276.0% | −255.3% | −657.5% |
| Jun '26 | Mar '26 | Dec '25 | Sep '25 | Jun '25 | Mar '25 | Dec '24 | Sep '24 | Jun '24 | Mar '24 | Dec '23 | Sep '23 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $105.8M | $105.9M | $166.4M | $114.0M | $173.2M | $132.8M | $151.2M | $102.9M | $198.8M | $36.9M | $53.4M | $17.8M |
| Cost of revenue | $52.2M | $46.1M | $61.3M | $35.0M | $73.8M | $65.4M | $80.3M | $39.8M | $45.2M | $20.0M | $56.4M | $36.5M |
| Gross profit | $53.6M | $59.8M | $105.1M | $78.9M | $99.4M | $67.3M | $70.9M | $63.1M | $153.5M | $16.9M | −$3.0M | −$18.7M |
| Research & development | $21.9M | $24.5M | $39.7M | $51.6M | $54.7M | $38.2M | $40.3M | $33.6M | $47.6M | $49.9M | $58.0M | $53.2M |
| Sales, general & admin | $43.6M | $25.7M | $19.6M | $26.0M | $26.7M | $18.6M | $15.0M | $16.9M | $14.1M | $15.5M | $18.0M | $16.6M |
| Total operating expenses | $65.4M | $50.2M | $56.9M | $77.6M | $81.4M | $56.7M | $57.4M | $50.3M | $61.7M | $65.3M | $76.0M | $69.9M |
| Operating income | −$11.8M | $9.6M | $48.2M | $1.4M | $18.1M | $10.6M | $13.5M | $12.7M | $91.9M | −$48.4M | −$79.0M | −$88.6M |
| Interest income | $31.7M | $33.4M | $27.8M | $169.4M | $125.0M | $126.3M | $74.5M | $77.4M | $924,000 | $783,000 | $41.6M | $43.4M |
| Interest expense | $41.0M | $40.8M | $40.7M | $36.3M | $36.7M | $35.5M | $159.2M | $90.7M | $42.1M | $184.1M | $68.6M | $43.5M |
| Income before taxes | −$66.8M | $986,000 | $39.6M | −$6.0M | $9.3M | $93.4M | −$44.4M | −$24.8M | $76.8M | −$225.2M | −$308.8M | −$205.5M |
| Income taxes | $59,000 | −$44,000 | $148.2M | −$813,000 | −$22.7M | −$16.3M | $22.5M | −$13.4M | $11.6M | −$6.4M | −$32.2M | −$17.2M |
| Net income | −$66.8M | $1.0M | −$108.6M | −$5.2M | $32.0M | $109.7M | −$67.0M | −$11.4M | $65.2M | −$218.7M | −$276.6M | −$188.3M |
| EBITDA | −$1.5M | $52.1M | −$84.5M | $40.5M | $51.7M | $137.2M | −$120.0M | $138.2M | −$16.6M | −$33.9M | −$233.5M | −$149.2M |
| EPS (diluted) | −$0.11 | −$0.09 | $0.01 | −$0.11 | $0.03 | $0.35 | −$0.24 | −$0.48 | $0.18 | −$0.89 | −$1.22 | −$0.82 |
| Gross margin | 50.7% | 56.5% | 63.2% | 69.3% | 57.4% | 50.7% | 46.9% | 61.3% | 77.3% | 45.8% | −5.7% | −105.3% |
| Operating margin | −11.2% | 9.1% | 29.0% | 1.2% | 10.4% | 8.0% | 8.9% | 12.4% | 46.2% | −131.4% | −148.1% | −498.1% |
| Net margin | −63.2% | 1.0% | −65.3% | −4.6% | 18.5% | 82.6% | −44.3% | −11.1% | 32.8% | −593.5% | −518.0% | −1,058.6% |
Quarterly columns are labeled by the month the quarter ended. Figures in U.S. dollars as reported in ALVO's financial statements (latest annual report filed March 31, 2026); data from EODHD. Sales, general & administrative expenses include sales and marketing.
ALVO financial results
In fiscal year 2025 (ended December 31, 2025), Alvotech reported revenue of $586.3 million, up 19.7% from the year before. It had net income of $27.9 million, a net profit margin of 4.8%. Diluted earnings per share came to $0.28. Over five years revenue grew at an average rate of 54.5% a year.
See the ALVO stock overview for the latest quote and news, or the ALVO chart for price history and technical indicators.
ALVO income statement FAQ
What is Alvotech's annual revenue?
Alvotech reported total revenue of $586.3 million for fiscal year 2025, which ended on December 31, 2025. That was up 19.7% from $489.7 million the previous year.
Is Alvotech profitable?
Yes. Alvotech reported net income of $27.9 million in fiscal 2025, a net profit margin of 4.8%; its operating margin was 13.3%.
What is Alvotech's gross margin?
Alvotech's gross margin was 59.8% in fiscal 2025: for every $100 of revenue, Alvotech kept $60 after the direct cost of its products and services.
How much does Alvotech spend on research and development?
Alvotech spent $184.2 million on research and development in fiscal 2025, 31.4% of revenue.
How fast is Alvotech growing?
Revenue grew 54.5% a year on average over the last five fiscal years, from $66.6 million to $586.3 million.
What are Alvotech's earnings per share?
Alvotech earned $0.28 per diluted share in fiscal 2025, compared with $-1.43 a year earlier.
When will Alvotech report its next earnings?
Alvotech is expected to report results for the quarter ending September 30, 2026 on November 11, 2026 after the market closes.
When does Alvotech's fiscal year end?
Alvotech's fiscal year ends in December. The latest annual report covers the year ended December 31, 2025 and was filed on March 31, 2026.