Lantheus Holdings, Inc. Q4 FY2025 earnings call

• Mary Ann Haino noted interim CEO role, successful CEO search progress, product impact on ~7 million patients in 2025. • Actions in 2025: closed two complementary transactions, advanced radiodiagnostic portfolio for prostate cancer, divested legacy spec business. • 2026 focus: maintain PSMA PET leadership, drive Neuroseq momentum, advance approval milestones, optimize cost structure. • Amanda Morgan highlighted Polarify performance, Neuroseq contribution, late-stage pipeline launch preparedness. • Bob Marshall detailed financials, adjusted results, cash flow, and 2026 guidance.

Radiopharmaceutical oncology: Fourth quarter revenue $240.2 million, flat sequentially, down 9.7% for full year; Polarify delivered $989.1 million full year, down 6.5% from prior year. Precision Diagnostics: Fourth quarter revenue $143.2 million, 22% increase; full year $330.2 million, up 3.9%. Neuroseq: $31 million in fourth quarter, $51.4 million since acquisition in late July. Technolite and other SPECT: Fourth quarter $26.9 million, full year $111.4 million. Strategic partnerships and other: Fourth quarter $23.3 million, up 203.3%, full year $59.4 million with MK6240 contributing slightly less than half.

• 2026 worldwide net revenue forecast $1.4 - $1.45 billion. • Polarify net revenue expected to decline 8% - 10% year over year. • Neuroseq expected to grow triple digits inorganically, DFINITY low to mid-single digits growth. • Gross margin models at ~65.5%, R&D expected 10% - 11% of revenue, G&A essentially flat, net interest expense $5 million, effective tax rate ~26%, EPS range $5 - $5.25.

Q: About March 6th PDUFA date for next-gen PSMA patent imaging agent, timing of coding and reimbursement; impact of POS Luma vs Polarify study on Polarify forecast.

A: Anthony Patron's questions answered by Mary Ann Haino and Bob Marshall on coding, reimbursement timing, study design concerns.

Q: Pricing and unit growth for Polarify, impact of POS Luma vs Polarify study.

A: Richard Newiter's questions answered on pricing assumptions, study impact on guide.

Q: Pursuing value-maximizing alternatives for radiotherapeutic assets.

A: Ryan Ruiz's question answered on focusing on diagnostic assets, reviewing therapeutic assets.

Q: Neuroseq growth potential.

A: Matt Taylor's question answered on Neuroseq growth driven by manufacturing footprint expansion and account penetration.

Q: Impact of upcoming Biogen data on TAO program.

A: Paul Troy's question answered on scientific confidence in tau role, MK6240's use in studies.

Q: CEO search timing.

A: Larry Solo's question answered on CEO search progress, narrow candidate pool.

Q: Relative revenue contributions of product portfolio segments.

A: Justin Walsh's question answered on prostate cancer franchise being main revenue driver.

Q: Product specific and commercial infrastructure differentiation for new launches.

A: Andy Tsai's question answered on transitional pass-through status and biomarker business leverage.

Q: Sales and marketing guidance for 2026.

A: Kemp Dolliver's question answered on sales and marketing spend modeling