ANIPHIGH SIGNALFINANCIAL10-K

ANIP delivered exceptional financial performance with revenue quadrupling to $206.5M and a dramatic swing from an $18.5M net loss to $78.3M profit.

This represents a transformational year for ANI Pharmaceuticals, with operating income surging nearly 19,000% from $584K to $111.1M, indicating either a major acquisition integration, successful product launches, or both. The company's share count increased by 3% while cash nearly doubled to $285.6M, suggesting strong operational cash generation and a significantly strengthened balance sheet position.

Comparing 2026-02-27 vs 2025-02-28View on EDGAR →
FINANCIAL ANALYSIS

ANI experienced explosive growth across all key metrics, with revenue increasing 302% to $206.5M, operating cash flow nearly tripling to $185.2M, and a remarkable turnaround from a $18.5M loss to $78.3M profit. The company strengthened its balance sheet substantially with cash nearly doubling to $285.6M and stockholders' equity growing 34% to $540.7M, while interest expense declined 65%. This comprehensive financial transformation signals either successful M&A integration (likely the Alimera acquisition referenced in removed language) or exceptional organic growth, positioning the company on much stronger financial footing.

FINANCIAL STATEMENT CHANGES
Operating Income
P&L
+18922.8%
$584K→$111.1M

Operating leverage kicking in — revenue growth outpacing cost growth, a hallmark of scaling businesses.

Net Income
P&L
+522.9%
-$18.5M→$78.3M

Net income grew 522.9% — bottom-line growth signals improving overall business health.

Revenue
P&L
+302.3%
$51.3M→$206.5M

Strong top-line growth of 302.3% — accelerating demand or successful expansion into new markets.

Operating Cash Flow
Cash Flow
+189.3%
$64.0M→$185.2M

Operating cash flow surged 189.3% — exceptional cash generation, highest quality earnings signal.

Cash & Equivalents
Balance Sheet
+97.1%
$144.9M→$285.6M

Cash position surged 97.1% — strong cash generation or capital raise providing significant financial cushion.

Interest Expense
P&L
-64.8%
$1.3M→$467K

Interest expense declined — debt repayment or refinancing at lower rates improving earnings quality.

Current Liabilities
Balance Sheet
+43.6%
$193.7M→$278.1M

Current liabilities surged 43.6% — significant near-term obligations; verify ability to meet short-term debt.

Current Assets
Balance Sheet
+42.7%
$527.7M→$753.1M

Current assets grew 42.7% — improving short-term liquidity or inventory/receivables build.

Stockholders Equity
Balance Sheet
+33.9%
$403.7M→$540.7M

Equity base grew 33.9% — retained earnings accumulation or equity issuance strengthening the balance sheet.

Dividends Paid
Cash Flow
-28.8%
$1.6M→$1.2M

Dividend reduced 28.8% — monitor management commentary on capital allocation priorities.

LANGUAGE CHANGES
NEW — 2026-02-27
PRIOR — 2025-02-28
ADDED
A s of February 20, 2026, 22,414,104 shares of common stock and 10,864 shares of Class C special stock of the registrant were outstanding.
All statements other than statements of historical fact contained in this Annual Report on Form 10-K are forward-looking statements.
In some cases, you can identify forward-looking statements by terms such as anticipates, may, will, should, could, expects, estimates, plans, potential, future, believes, intends, continue, other words of similar meaning, derivations of such words, and the use of future dates.
Forward-looking statements are inherently subject to known and unknown risks, uncertainties and other factors, some of which cannot be predicted or quantified , that may cause our actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by these forward-looking statements.
Factors that might cause such a difference include, but are not limited to, those discussed under Part I, Item 1A, Risk Factors and elsewhere in this Annual Report on Form 10-K, as well as in our other periodic reports filed with the United States ( U.S.
+7 more — sign up free →
REMOVED
As of February 21, 2025, 21,762,646 shares of common stock and 10,864 shares of Class C Special stock of the registrant were outstanding.
Form 10-K Summary 160 Signatures 161 Ta b l e of Contents In this annual report, references to ANI Pharmaceuticals, ANI, the Company, we, us, and our refer, unless the context requires otherwise, to ANI Pharmaceuticals, Inc., a Delaware corporation, and its consolidated subsidiaries.
Such statements include, but are not limited to, statements about future operations, strategies and growth potential, the revenue potential (licensing, royalty and sales) of products we sell, development timelines, expected timeframe for submission of new drug applications, abbreviated new drug applications, or supplemental new drug applications to the U.S.
Food and Drug Administration (the FDA ), pipeline or potential markets for our products, selling and marketing strategies a nd associated costs to support the sales of Purified Cortrophin Gel (Repository Corticotropin Injection USP) ( Cortrophin Gel ), the closing of the acquisition of Alimera Sciences, Inc.
( Alimera ), impact of accounting principle s, litigation expenses, liquidity and capital resources, the impact of global pandemics on our business, and other statements that are not historical in nature, particularly those that utilize terminology such as anticipates, will, expects, plans, potential, future, believes, intends, continue, other words of similar meaning, derivations of such words, and the use of future dates.
+7 more — sign up free →
MORE FINANCIAL SIGNALS
PNRGHIGHPNRG achieved exceptional profitability improvement with net income surging 2,21...
2026-04-16
BNAIHIGHBNAI underwent a dramatic reverse stock split that reduced share count by 86% wh...
2026-04-16
LAKEHIGHLAKE's financial performance deteriorated significantly with operating losses wo...
2026-04-16
NXXTHIGHNextNRG experienced massive financial deterioration with operating losses explod...
2026-04-16
ANALYZE ANY FILING FREE

See what changed in your portfolio's filings

500+ US-listed companies analyzed. Language delta, financial analysis, instant signal scoring.

Try Tracenotes free →