ASRT

MKT CAP:$116M

Assertio Holdings, Inc.

Market Cap

$116M

Healthcare·Drug Manufacturers - Specialty & Generic·🇺🇸 United States·NASDAQ

Healthcare·Drug·🇺🇸·NASDAQ

Stock Price

$18.04+$8.90 (+97.37%)

Apr 23, 2026

Company Details

Assertio Holdings, Inc., a specialty pharmaceutical company, provides medicines in the areas of neurology, hospital, and pain and inflammation. Its pharmaceutical products include INDOCIN, an oral solution and a suppository form for the tre...

CEO

Mark L. Reisenauer

IPO Date

Dec 3, 1997

Website

www.assertiotx.com

Key Metrics TTM

Revenue

$137M

+9.2% YoY

Net Income

-$29M

EPS (Diluted)

-$4.65

Free Cash Flow

$13M

Revenue / Share

$19.34

Gross Margin

68.2%

Operating Margin

-16.9%

Net Margin

-21.1%

FCF Margin

9.7%

P/S

0.8x

P/E

—

Earnings Reports

Q4 2025

May 11, 2026

PENDING

Q3 2025

Nov 10, 2025

$49M+69.4%EPS $1.65

Q2 2025

Aug 11, 2025

$29M-6.1%EPS -$2.55

Q1 2025

May 12, 2025

$26M-18.4%EPS -$2.10

FY 2024

Mar 12, 2025

$125M-17.8%EPS -$3.45

Revenue & Profitability

Quarter	Revenue	Gross Profit	Operating Income
Q4 21	$33M	$28M	$8M
Q1 22	$37M	$33M	$12M
Q2 22	$35M	$31M	$11M
Q3 22	$34M	$30M	$6M
Q4 22	$50M	$44M	$11M
Q1 23	$42M	$37M	$5M
Q2 23	$41M	$36M	$12M
Q3 23	$36M	$29M	-$228M
Q4 23	$33M	$23M	-$32M
Q1 24	$32M	$21M	-$4M
Q2 24	$31M	$22M	-$4M
Q3 24	$29M	$22M	-$3M
Q4 24	$32M	$21M	-$13M
Q1 25	$26M	$19M	-$13M
Q2 25	$29M	$19M	-$8M
Q3 25	$49M	$36M	$11M

Valuation

Quarter	P/S	P/E
Q4 21	16.2x	—
Q1 22	15.4x	573.8x
Q2 22	15.4x	79.5x
Q3 22	12.0x	65.2x
Q4 22	20.0x	28.5x
Q1 23	31.7x	53.0x
Q2 23	40.4x	69.5x
Q3 23	20.5x	—
Q4 23	9.0x	—
Q1 24	9.4x	—
Q2 24	12.9x	—
Q3 24	13.4x	—
Q4 24	10.1x	—
Q1 25	8.2x	—
Q2 25	7.9x	—
Q3 25	9.3x	—

Operating Cash Flow

Quarter	Operating CF	Free CF
Q4 21	$4M	$4M
Q1 22	$27M	$27M
Q2 22	$14M	$14M
Q3 22	$10M	$10M
Q4 22	$27M	$26M
Q1 23	$23M	$23M
Q2 23	$19M	$18M
Q3 23	$3M	$3M
Q4 23	$6M	$6M
Q1 24	$8M	$8M
Q2 24	$7M	$7M
Q3 24	-$35.0K	-$35.0K
Q4 24	$12M	$12M
Q1 25	-$13M	-$13M
Q2 25	$19M	$19M
Q3 25	-$5M	-$5M

Capital Expenditures

Quarter	CapEx
Q4 21	$53.0K
Q1 22	$0
Q2 22	$0
Q3 22	$0
Q4 22	$274.0K
Q1 23	$0
Q2 23	$423.0K
Q3 23	$0
Q4 23	$180.0K
Q1 24	$0
Q2 24	$0
Q3 24	$0
Q4 24	$0
Q1 25	$0
Q2 25	$0
Q3 25	$0

CapEx

OpEx vs Revenue Growth (YoY)

Quarter	Revenue Growth	OpEx Growth
Q4 21	+4.2%	-61.0%
Q1 22	+36.1%	+29.2%
Q2 22	+38.5%	-34.9%
Q3 22	+34.3%	+42.2%
Q4 22	+51.1%	+56.7%
Q1 23	+16.2%	+51.4%
Q2 23	+16.7%	+17.4%
Q3 23	+4.1%	+850.0%
Q4 23	-34.5%	+64.4%
Q1 24	-23.6%	-2.7%
Q2 24	-24.1%	+21.6%
Q3 24	-18.0%	-87.8%
Q4 24	-2.4%	-30.1%
Q1 25	-18.4%	+8.0%
Q2 25	-6.1%	+7.2%
Q3 25	+69.4%	+17.8%

Stock-Based Compensation

Quarter	SBC ($)	% of Revenue
Q4 21	$949.0K	2.8%
Q1 22	$982.0K	2.7%
Q2 22	$2M	4.9%
Q3 22	$2M	7.0%
Q4 22	$2M	4.7%
Q1 23	$2M	5.8%
Q2 23	$0	0.0%
Q3 23	$0	0.0%
Q4 23	$3M	8.0%
Q1 24	$1M	3.7%
Q2 24	$1M	4.5%
Q3 24	$1M	4.4%
Q4 24	$1M	3.4%
Q1 25	$1M	4.2%
Q2 25	$1M	4.1%
Q3 25	$0	0.0%

OpEx Breakdown

Quarter	R&D	G&A	S&M	SG&A
Q4 21	—	—	$2M	—
Q4 22	—	$10M	$3M	—
Q2 23	$503.0K	—	—	—
Q3 23	$1M	—	—	—
Q4 23	$1M	$19M	$4M	—
Q1 24	$733.0K	—	—	—
Q2 24	$798.0K	—	—	$18M
Q3 24	$1M	—	—	$17M
Q4 24	$1M	$20M	$2M	—
Q1 25	$438.0K	—	—	$22M
Q2 25	$387.0K	—	—	$17M
Q3 25	$379.0K	—	—	$17M

Revenue Segments

Quarter	Product	Product and Service, Other	Royalties And Milestones
Q2 22	$35M	-$750.0K	$451.0K

War Chest

Quarter	Cash	Short-term Investments	Total
Q1 22	$61M	$0	$61M
Q2 22	$52M	$0	$52M
Q3 22	$65M	$0	$65M
Q4 22	$65M	$0	$65M
Q1 23	$69M	$0	$69M
Q2 23	$70M	$0	$70M
Q3 23	$77M	$0	$77M
Q4 23	$73M	$0	$73M
Q1 24	$81M	$0	$81M
Q2 24	$45M	$44M	$88M
Q3 24	$38M	$51M	$89M
Q4 24	$51M	$49M	$100M
Q1 25	$35M	$52M	$87M
Q2 25	$47M	$51M	$98M
Q3 25	$39M	$55M	$93M
Q4 25	$10M	$53M	$63M

Shares Outstanding

Quarter	Shares (Diluted)	QoQ Change	YoY Change
Q4 21	3M	+0.7%	+51.6%
Q1 22	3M	+1.6%	+19.9%
Q2 22	3M	+3.1%	+6.4%
Q3 22	4M	+20.6%	+27.4%
Q4 22	4M	+16.9%	+47.8%
Q1 23	3M	-24.0%	+10.6%
Q2 23	5M	+37.5%	+47.4%
Q3 23	5M	+16.5%	+42.4%
Q4 23	6M	+15.9%	+41.1%
Q1 24	6M	+0.3%	+86.2%
Q2 24	6M	+0.3%	+35.8%
Q3 24	6M	+0.1%	+16.7%
Q4 24	6M	+0.2%	+0.9%
Q1 25	6M	+0.2%	+0.7%
Q2 25	6M	+0.3%	+0.8%
Q3 25	7M	+11.0%	+11.7%

Shares Outstanding

Revenue Per Employee

Period	Revenue/Employee	Employees
Q4 21	$2M	19
Q1 22	$2M	19
Q2 22	$2M	19
Q3 22	$2M	19
Q4 22	$2M	30
Q1 23	$1M	30
Q2 23	$1M	30
Q3 23	$1M	30
Q4 23	$66	500K
Q1 24	$65	500K
Q2 24	$62	500K
Q3 24	$58	500K
Q4 24	$64	500K
Q1 25	$53	500K
Q2 25	$58	500K
Q3 25	$99	500K

Revenue / Employee