PROC

MKT CAP:$102M

Procaps Group S.A.

Market Cap

$102M

Healthcare·Drug Manufacturers - Specialty & Generic·🇱🇺 Luxembourg·NASDAQ

Healthcare·Drug·🇱🇺·NASDAQ

Stock Price

$1.01+$0.00 (+0.00%)

Mar 9, 2026

Company Details

Procaps Group S.A. develops, produces, and markets pharmaceutical solutions worldwide. The company formulates, manufactures, and markets branded prescription drugs in various therapeutic areas, including feminine care products, pain relief,...

CEO

Jose Antonio Toledo Vieira

IPO Date

Dec 9, 2019

Website

www.procapsgroup.com

Key Metrics TTM

Revenue

$414M

-4.8% YoY

Net Income

$52M

EPS (Diluted)

$0.52

Free Cash Flow

$34M

Revenue / Share

$4.04

Gross Margin

55.0%

Operating Margin

22.6%

Net Margin

12.6%

FCF Margin

8.2%

P/S

0.2x

P/E

2.0x

Earnings Reports

Q3 2023

Sep 30, 2023

$118M+7.3%EPS $0.08

Q2 2023

Jun 30, 2023

$110M-2.1%EPS $0.27

Q1 2023

Jun 5, 2023

$84M-1.7%EPS $0.07

FY 2022

May 12, 2023

$410M+0.0%EPS $0.42

Q4 2022

May 12, 2023

$101M-19.8%EPS $0.10

Revenue & Profitability

Quarter	Revenue	Gross Profit	Operating Income
Q1 19	$81M	$46M	$9M
Q2 19	$81M	$46M	$9M
Q3 19	$81M	$46M	$9M
Q4 19	$81M	$46M	$9M
Q1 20	$52M	$30M	-$3M
Q2 20	$82M	$45M	$15M
Q3 20	$79M	$48M	$14M
Q4 20	$118M	$68M	$37M
Q4 21	$127M	$76M	-$33M
Q1 22	$86M	$47M	$2M
Q2 22	$112M	$73M	$9M
Q3 22	$110M	$68M	$17M
Q4 22	$101M	$52M	$41M
Q1 23	$84M	$46M	$7M
Q2 23	$110M	$61M	$33M
Q3 23	$118M	$68M	$13M

Valuation

Quarter	P/S	P/E
Q1 19	—	—
Q2 19	—	—
Q3 19	—	—
Q4 19	0.3x	—
Q1 20	0.3x	—
Q2 20	0.3x	—
Q3 20	0.3x	—
Q4 20	0.3x	—
Q4 21	0.3x	—
Q1 22	0.2x	—
Q2 22	0.2x	—
Q3 22	0.2x	—
Q4 22	0.2x	2.4x
Q1 23	0.2x	3.1x
Q2 23	0.3x	1.5x
Q3 23	0.2x	2.0x

Operating Cash Flow

Quarter	Operating CF	Free CF
Q1 19	$17M	$12M
Q2 19	$17M	$12M
Q3 19	$17M	$12M
Q4 19	$17M	$12M
Q1 20	$19M	$16M
Q2 20	$9M	$5M
Q3 20	$2M	-$3M
Q4 20	$41M	$35M
Q4 21	$26M	$18M
Q1 22	$6M	$2M
Q2 22	$10M	-$2M
Q3 22	$6M	-$2M
Q4 22	-$8M	-$16M
Q1 23	$3M	-$2M
Q2 23	$20M	$13M
Q3 23	$47M	$40M

Capital Expenditures

Quarter	CapEx
Q1 19	$5M
Q2 19	$5M
Q3 19	$5M
Q4 19	$5M
Q1 20	$3M
Q2 20	$4M
Q3 20	$5M
Q4 20	$7M
Q4 21	$8M
Q1 22	$4M
Q2 22	$12M
Q3 22	$7M
Q4 22	$9M
Q1 23	$5M
Q2 23	$8M
Q3 23	$8M

CapEx

OpEx vs Revenue Growth (YoY)

Quarter	Revenue Growth	OpEx Growth
Q1 20	-35.8%	-23.3%
Q2 20	+0.9%	-6.6%
Q3 20	-2.3%	-9.3%
Q4 20	+45.5%	+12.8%
Q4 21	+142.8%	+189.1%
Q1 22	+4.6%	+24.3%
Q2 22	+41.7%	+58.0%
Q3 22	-6.6%	+14.8%
Q4 22	-19.8%	-61.8%
Q1 23	-1.7%	-7.0%
Q2 23	-2.1%	-25.5%
Q3 23	+7.3%	+13.1%

Stock-Based Compensation

Quarter	SBC ($)	% of Revenue
Q1 19	$0	0.0%
Q2 19	$0	0.0%
Q3 19	$0	0.0%
Q4 19	$0	0.0%
Q1 20	$1M	2.8%
Q2 20	-$1M	-1.5%
Q3 20	$6M	7.1%
Q4 20	-$21M	-17.7%
Q4 21	$74M	58.4%
Q1 22	$0	0.0%
Q2 22	$0	0.0%
Q3 22	$0	0.0%
Q4 22	$0	0.0%
Q1 23	$0	0.0%
Q2 23	-$28M	-25.5%
Q3 23	$0	0.0%

OpEx Breakdown

Quarter	R&D	G&A	S&M
Q1 19	—	$36M	$21M
Q2 19	—	$36M	$21M
Q3 19	—	$36M	$21M
Q4 19	—	$36M	$21M
Q1 20	—	$15M	$18M
Q2 20	—	$14M	$16M
Q3 20	—	$14M	$19M
Q4 20	$3M	$15M	$16M
Q4 21	$3M	$18M	$22M
Q1 22	—	$25M	$20M
Q2 22	—	$29M	$26M
Q3 22	—	$24M	$26M
Q4 22	$3M	$28M	$22M
Q1 23	—	$22M	$21M
Q2 23	—	$25M	$21M
Q3 23	—	$26M	$29M

War Chest

Quarter	Cash	Short-term Investments	Total
Q4 19	$510.5K	$0	$510.5K
Q1 20	$0	$4M	$4M
Q2 20	$1M	$0	$1M
Q3 20	$1M	$0	$1M
Q4 20	$4M	$0	$4M
Q1 21	$8M	$0	$8M
Q2 21	$8M	$0	$8M
Q3 21	$100M	$0	$100M
Q4 21	$72M	$0	$72M
Q1 22	$66M	$0	$66M
Q2 22	$38M	$0	$38M
Q3 22	$27M	$0	$27M
Q4 22	$43M	$0	$43M
Q1 23	$23M	$0	$23M
Q2 23	$12M	$8M	$20M
Q3 23	$18M	$0	$18M

Shares Outstanding

Quarter	Shares (Diluted)	QoQ Change	YoY Change
Q1 19	113M	—	—
Q2 19	113M	0.0%	—
Q3 19	113M	0.0%	—
Q4 19	113M	0.0%	—
Q1 20	113M	0.0%	0.0%
Q2 20	113M	0.0%	0.0%
Q3 20	113M	0.0%	0.0%
Q4 20	113M	0.0%	0.0%
Q4 21	98M	-13.0%	-13.0%
Q1 22	101M	+3.0%	-10.4%
Q2 22	99M	-2.2%	-12.4%
Q3 22	103M	+3.8%	-9.0%
Q4 22	101M	-1.5%	+3.0%
Q1 23	95M	-6.5%	-6.5%
Q2 23	100M	+5.5%	+1.0%
Q3 23	102M	+2.6%	-0.2%

Shares Outstanding

Revenue Per Employee

Period	Revenue/Employee	Employees
Q1 19	—	—
Q2 19	—	—
Q3 19	—	—
Q4 19	—	—
Q1 20	—	—
Q2 20	—	—
Q3 20	—	—
Q4 20	—	—
Q4 21	$25.8K	5K
Q1 22	$17.5K	5K
Q2 22	$22.9K	5K
Q3 22	$22.5K	5K
Q4 22	$18.4K	6K
Q1 23	$15.3K	6K
Q2 23	$20.0K	6K
Q3 23	$21.5K	6K

Revenue / Employee