Market Newsdesk

Company to submit sNDA around the end of 1Q 2025 seeking traditional approval of FILSPARI
®
(sparsentan) for FSGS

Net product sales of FILSPARI totaled $50 million in 4Q 2024; $132 million for full year 2024

Net product sales totaled $74 million in 4Q 2024; $227 million for full year 2024

SAN DIEGO, Feb. 20, 2025 (GLOBE NEWSWIRE) — Travere Therapeutics, Inc. (NASDAQ: TVTX) today reported its fourth quarter and full year 2024 financial results and provided a corporate update.

“Our strong execution in 2024 made it a remarkable year for Travere and the patients we serve. The ongoing commercial launch of FILSPARI outperformed benchmarks and the recent full approval has reinforced physicians’ confidence in choosing FILSPARI as a foundational therapy for IgAN,” said Eric Dube, Ph.D., president and chief executive officer of Travere Therapeutics. “We enter 2025 with strong momentum and a clear focus. With FILSPARI’s differentiated profile as the only medicine that has been shown to provide superior preservation of kidney function in a head-to-head trial and can replace historical foundational therapy, we remain committed to reaching more patients at risk of IgAN progression. Following our recent FDA engagement for FILSPARI in FSGS, we are on track to complete our sNDA submission around the end of the first quarter and are preparing to be ready for a successful launch, if approved. Additionally, we continue to optimize our manufacturing for pegtibatinase and will be preparing to restart enrollment in the pivotal program next year. These strategic priorities will position us to drive a lasting positive impact for our patients and stakeholders.”

Financial Results for Continuing Operations for the Quarter and Year Ended December 31, 2024

The following financial results discussion compares Travere’s continuing operations. All periods unless otherwise specified have been adjusted to exclude discontinued operations related to the divestiture of the bile acid product portfolio completed on August 31, 2023.

Net product sales for the fourth quarter of 2024 were $73.5 million, compared to $39.9 million for the same period in 2023. For the full year 2024, net product sales were $226.7 million, compared to $127.5 million for the same period in 2023. The increase is attributable to growth in sales of FILSPARI, including a full twelve months of sales in 2024, following the February 2023 launch.

Research and development (R&D) expenses for the fourth quarter of 2024 were $62.1 million, compared to $59.7 million for the same period in 2023. For the full year 2024, R&D expenses were $217.5 million, compared to $245.0 million for the same period in 2023. The decrease is largely attributable to previously announced restructuring initiatives and lower costs associated with the development of sparsentan as our Phase 3 programs advance towards completion, offset by an increase in costs associated with the development of pegtibatinase following the December 2023 initiation of the Phase 3 HARMONY Study. On a non-GAAP adjusted basis, R&D expenses were $58.6 million for the fourth quarter and $203.3 million for the full year 2024, compared to $55.3 million and $220.4 million for the same periods in 2023.

Selling, general, and administrative (SG&A) expenses for the fourth quarter of 2024 were $69.5 million, compared to $63.6 million for the same period in 2023. For the full year 2024, SG&A expenses were $264.1 million, compared to $265.5 million for the same period in 2023. On a non-GAAP adjusted basis, SG&A expenses were $51.6 million for the fourth quarter and $197.8 million for the full year 2024, compared to $49.7 million and $199.5 million for the same periods in 2023.

Total other income, net for the fourth quarter of 2024 was $0.4 million, compared to $5.7 million for the same period in 2023. Total other income, net for the full year 2024 was $3.3 million, compared to $12.0 million in the same period in 2023. The difference is largely attributable to a non-cash charge to other expense during the second quarter related to the Renalys Pharma collaboration entered into in 2024, and a decrease in interest income.

As of December 31, 2024, the Company had cash, cash equivalents, and marketable securities of $370.7 million. This includes net proceeds of $134.7 million from a common stock offering completed in November 2024.

Program Updates

FILSPARI
®
(sparsentan) – IgAN

• On September 5, 2024, the U.S. Food and Drug Administration (FDA) granted full approval to FILSPARI to slow kidney function decline in adults with primary IgAN who are at risk of disease progression.
  • In the fourth quarter of 2024, the Company received 693 new patient start forms (PSFs) driven by growth amongst both new and repeat prescribers following full approval.
  • Fourth quarter 2024 net product sales of FILSPARI totaled $49.6 million; full year 2024 net product sales of FILSPARI totaled $132.2 million.
• The FDA assigned a PDUFA target action date of August 28, 2025, to the Company’s supplemental New Drug Application (sNDA) requesting modification of liver monitoring for FILSPARI in IgAN.
• In 2025, the Company anticipates final publication of the updated Kidney Disease Improving Global Outcomes (KDIGO) clinical guidelines for IgAN. The draft guidelines published in August 2024 recommended FILSPARI as a foundational kidney-targeted therapy and lowered the targeted proteinuria level for all IgAN patients to under 0.5 g/day or ideally complete remission (under 0.3 g/day).
• In 2025, the Company expects the ongoing SPARTAN Study to be expanded to include post-kidney transplant patients with recurring IgAN and has plans to initiate a new open label study of FILSPARI in post kidney-transplant patients with recurrent IgAN or FSGS.
• In 2025, the Company anticipates presenting additional data from its ongoing clinical studies to further support FILSPARI as foundational therapy in treating patients with IgAN.
• The Company’s collaborator, CSL Vifor, has launched FILSPARI for the treatment of IgAN in Germany, Austria and Switzerland.
• In 2025, the Company and CSL Vifor anticipate the current conditional marketing authorization (CMA) for FILSPARI for the treatment of IgAN in Europe will be converted to full approval. The Company expects to receive a $17.5 million milestone payment from CSL Vifor upon conversion of the CMA to full approval, and the Company remains eligible to receive additional milestone payments related to market access and sales-based achievements.
• The Company’s partner, Renalys Pharma, Inc., recently completed enrollment in its registrational Phase 3 clinical trial of sparsentan for the treatment of IgAN in Japan and expects topline results in the second half of 2025.

FILSPARI
®
(sparsentan) – FSGS

• Following its Type C meeting with the FDA, the Company is on track to submit an sNDA for an FSGS indication around the end of the first quarter of 2025.
  • The sNDA submission will be based on the results from Phase 3 DUPLEX and Phase 2 DUET studies of FILSPARI in FSGS, two of the largest interventional clinical trials conducted in FSGS to-date.
• If approved, FILSPARI would be the first and only approved medicine indicated for FSGS, a rare kidney disorder and a leading cause of kidney failure.

Pegtibatinase (TVT-058) – Classical HCU

• The Company is continuing to make progress on the necessary process improvements in manufacturing scale-up and is on track to restart enrollment in the Phase 3 HARMONY Study in 2026.

Conference Call Information

Travere Therapeutics will host a conference call and webcast today, February 20, 2025, at 4:30 p.m. ET to discuss company updates as well as fourth quarter and full year 2024 financial results. To participate in the conference call, dial +1 (800) 549-8228 (U.S.) or +1 (646) 564-2877 (International), conference ID 25215 shortly before 4:30 p.m. ET. The webcast can be accessed on the Investor page of Travere’s website at ir.travere.com/events-presentations. Following the live webcast, an archived version of the call will be available for 30 days on the Company’s website.

Use of Non-GAAP Financial Measures

To supplement Travere’s financial results and guidance presented in accordance with U.S. generally accepted accounting principles (GAAP), the Company uses certain non-GAAP adjusted financial measures in this press release and the accompanying tables. The Company believes that these non-GAAP financial measures are helpful in understanding its past financial performance and potential future results. They are not meant to be considered in isolation or as a substitute for comparable GAAP measures and should be read in conjunction with the consolidated financial statements prepared in accordance with GAAP. Travere’s management regularly uses these supplemental non-GAAP financial measures internally to understand, manage and evaluate its business and make operating decisions. In addition, Travere believes that the use of these non-GAAP measures enhances the ability of investors to compare its results from period to period and allows for greater transparency with respect to key financial metrics the Company uses in making operating decisions.

Investors should note that these non-GAAP financial measures are not prepared under any comprehensive set of accounting rules or principles and do not reflect all of the amounts associated with the Company’s results of operations as determined in accordance with GAAP. Investors should also note that these non-GAAP financial measures have no standardized meaning prescribed by GAAP and, therefore, have limits in their usefulness to investors. In addition, from time to time in the future the Company may exclude other items, or cease to exclude items that it has historically excluded, for purposes of its non-GAAP financial measures; because of the non-standardized definitions, the non-GAAP financial measures as used by the Company in this press release and the accompanying tables may be calculated differently from, and therefore may not be directly comparable to, similarly titled measures used by the Company’s competitors and other companies.

As used in this press release, (i) the historical non-GAAP net loss measures exclude from GAAP net loss, as applicable, stock-based compensation expense, amortization and depreciation expense, and income tax; (ii) the historical non-GAAP SG&A expense measures exclude from GAAP SG&A expenses, as applicable, stock-based compensation expense, and amortization and depreciation expense; (iii) the historical non-GAAP R&D expense measures exclude from GAAP R&D expenses, as applicable, stock-based compensation expense, and amortization and depreciation expense.

About Travere Therapeutics

At Travere Therapeutics, we are in rare for life. We are a biopharmaceutical company that comes together every day to help patients, families and caregivers of all backgrounds as they navigate life with a rare disease. On this path, we know the need for treatment options is urgent – that is why our global team works with the rare disease community to identify, develop and deliver life-changing therapies. In pursuit of this mission, we continuously seek to understand the diverse perspectives of rare patients and to courageously forge new paths to make a difference in their lives and provide hope – today and tomorrow. For more information, visit travere.com.

FILSPARI
®
(sparsentan) U.S. Indication

FILSPARI (sparsentan) is indicated to slow kidney function decline in adults with primary immunoglobulin A nephropathy (IgAN) who are at risk for disease progression.

IMPORTANT SAFETY INFORMATION

BOXED WARNING: HEPATOTOXICITY AND EMBRYO-FETAL TOXICITY

Because of the risks of hepatotoxicity and birth defects, FILSPARI is available only through a restricted program called the FILSPARI REMS. Under the FILSPARI REMS, prescribers, patients and pharmacies must enroll in the program.

Hepatotoxicity

Some Endothelin Receptor Antagonists (ERAs) have caused elevations of aminotransferases, hepatotoxicity, and liver failure. In clinical studies, elevations in aminotransferases (ALT or AST) of at least 3-times the Upper Limit of Normal (ULN) have been observed in up to 3.5% of FILSPARI-treated patients, including cases confirmed with rechallenge.

Measure transaminases and bilirubin before initiating treatment and monthly for the first 12 months, and then every 3 months during treatment. Interrupt treatment and closely monitor patients who develop aminotransferase elevations more than 3x ULN.

FILSPARI should generally be avoided in patients with elevated aminotransferases (>3x ULN) at baseline because monitoring for hepatotoxicity may be more difficult and these patients may be at increased risk for serious hepatotoxicity.

Embryo-Fetal Toxicity

FILSPARI can cause major birth defects if used by pregnant patients based on animal data. Therefore, pregnancy testing is required before the initiation of treatment, during treatment and one month after discontinuation of treatment with FILSPARI. Patients who can become pregnant must use effective contraception before the initiation of treatment, during treatment, and for one month after discontinuation of treatment with FILSPARI.

Contraindications

FILSPARI is contraindicated in patients who are pregnant. Do not coadminister FILSPARI with angiotensin receptor blockers (ARBs), ERAs, or aliskiren.

Warnings and Precautions

• Hepatotoxicity: Elevations in ALT or AST of at least 3-fold ULN have been observed in up to 3.5% of FILSPARI-treated patients, including cases confirmed with rechallenge. While no concurrent elevations in bilirubin >2-times ULN or cases of liver failure were observed in FILSPARI-treated patients, some ERAs have caused elevations of aminotransferases, hepatotoxicity, and liver failure. To reduce the risk of potential serious hepatotoxicity, measure serum aminotransferase levels and total bilirubin prior to initiation of treatment and monthly for the first 12 months, then every 3 months during treatment.

Advise patients with symptoms suggesting hepatotoxicity (nausea, vomiting, right upper quadrant pain, fatigue, anorexia, jaundice, dark urine, fever, or itching) to immediately stop treatment with FILSPARI and seek medical attention. If aminotransferase levels are abnormal at any time during treatment, interrupt FILSPARI and monitor as recommended.

Consider re-initiation of FILSPARI only when hepatic enzyme levels and bilirubin return to pretreatment values and only in patients who have not experienced clinical symptoms of hepatotoxicity. Avoid initiation of FILSPARI in patients with elevated aminotransferases (>3x ULN) prior to drug initiation because monitoring hepatotoxicity in these patients may be more difficult and these patients may be at increased risk for serious hepatotoxicity.

• Embryo-Fetal Toxicity: FILSPARI can cause fetal harm when administered to a pregnant patient and is contraindicated during pregnancy. Advise patients who can become pregnant of the potential risk to a fetus. Obtain a pregnancy test prior to initiation of treatment with FILSPARI, monthly during treatment, and one month after discontinuation of treatment. Advise patients who can become pregnant to use effective contraception prior to initiation of treatment, during treatment, and for one month after discontinuation of treatment with FILSPARI.
• FILSPARI REMS: Due to the risk of hepatotoxicity and embryo-fetal toxicity, FILSPARI is available only through a restricted program called the FILSPARI REMS. Prescribers, patients, and pharmacies must be enrolled in the REMS program and comply with all requirements (www.filsparirems.com).
• Hypotension: Hypotension has been observed in patients treated with ARBs and ERAs. There was a greater incidence of hypotension-associated adverse events, some serious, including dizziness, in patients treated with FILSPARI compared to irbesartan. In patients at risk for hypotension, consider eliminating or adjusting other antihypertensive medications and maintaining appropriate volume status. If hypotension develops, despite elimination or reduction of other antihypertensive medications, consider a dose reduction or dose interruption of FILSPARI. A transient hypotensive response is not a contraindication to further dosing of FILSPARI, which can be given once blood pressure has stabilized.
• Acute Kidney Injury: Monitor kidney function periodically. Drugs that inhibit the renin-angiotensin system (RAS) can cause kidney injury. Patients whose kidney function may depend in part on the activity of the RAS (e.g., patients with renal artery stenosis, chronic kidney disease, severe congestive heart failure, or volume depletion) may be at particular risk of developing acute kidney injury on FILSPARI. Consider withholding or discontinuing therapy in patients who develop a clinically significant decrease in kidney function while on FILSPARI.
• Hyperkalemia: Monitor serum potassium periodically and treat appropriately. Patients with advanced kidney disease, taking concomitant potassium-increasing drugs (e.g., potassium supplements, potassium-sparing diuretics), or using potassium-containing salt substitutes are at increased risk for developing hyperkalemia. Dosage reduction or discontinuation of FILSPARI may be required.
• Fluid Retention: Fluid retention may occur with ERAs, and has been observed in clinical studies with FILSPARI. FILSPARI has not been evaluated in patients with heart failure. If clinically significant fluid retention develops, evaluate the patient to determine the cause and the potential need to initiate or modify the dose of diuretic treatment then consider modifying the dose of FILSPARI.

Most common adverse reactions

The most common adverse reactions (≥5%) are hyperkalemia, hypotension (including orthostatic hypotension), peripheral edema, dizziness, anemia, and acute kidney injury.

Drug interactions

• Renin-Angiotensin System (RAS) Inhibitors and ERAs: Do not coadminister FILSPARI with ARBs, ERAs, or aliskiren due to increased risks of hypotension, syncope, hyperkalemia, and changes in renal function (including acute renal failure).
• Strong and Moderate CYP3A Inhibitors: Avoid concomitant use of FILSPARI with strong CYP3A inhibitors. If a strong CYP3A inhibitor cannot be avoided, interrupt FILSPARI treatment. When resuming treatment with FILSPARI, consider dose titration. Monitor blood pressure, serum potassium, edema, and kidney function regularly when used concomitantly with moderate CYP3A inhibitors. Concomitant use with a strong CYP3A inhibitor increases sparsentan exposure which may increase the risk of FILSPARI adverse reactions.
• Strong CYP3A Inducers: Avoid concomitant use with a strong CYP3A inducer. Concomitant use with a strong CYP3A inducer decreases sparsentan exposure which may reduce FILSPARI efficacy.
• Antacids and Acid Reducing Agents: Administer FILSPARI 2 hours before or after administration of antacids. Avoid concomitant use of acid reducing agents (histamine H2 receptor antagonist and PPI proton pump inhibitor) with FILSPARI. Sparsentan exhibits pH-dependent solubility. Antacids or acid reducing agents may decrease sparsentan exposure which may reduce FILSPARI efficacy.
• Non-Steroidal Anti-Inflammatory Agents (NSAIDs), Including Selective Cyclooxygenase-2 (COX-2) Inhibitors: Monitor for signs of worsening renal function with concomitant use with NSAIDs (including selective COX-2 inhibitors). In patients with volume depletion (including those on diuretic therapy) or with impaired kidney function, concomitant use of NSAIDs (including selective COX-2 inhibitors) with drugs that antagonize the angiotensin II receptor may result in deterioration of kidney function, including possible kidney failure.
• CYP2B6, 2C9, and 2C19 Substrates: Monitor for efficacy of concurrently administered CYP2B6, 2C9, and 2C19 substrates and consider dosage adjustment in accordance with the Prescribing Information. Sparsentan decreases exposure of these substrates, which may reduce efficacy related to these substrates.
• P-gp and BCRP Substrates: Avoid concomitant use of sensitive substrates of P-gp and BCRP with FILSPARI. Sparsentan may increase exposure of these transporter substrates, which may increase the risk of adverse reactions related to these substrates.
• Agents Increasing Serum Potassium: Monitor serum potassium frequently in patients treated with FILSPARI and other agents that increase serum potassium. Concomitant use of FILSPARI with potassium-sparing diuretics, potassium supplements, potassium-containing salt substitutes, or other drugs that raise serum potassium levels may result in hyperkalemia.

Please see the full 

Prescribing Information

, including BOXED WARNING, for additional Important Safety Information.

Forward-Looking Statements

This press release contains “forward-looking statements” as that term is defined in the Private Securities Litigation Reform Act of 1995. Without limiting the foregoing, these statements are often identified by the words “on-track,” “positioned,” “look forward to,” “will,” “would,” “may,” “might,” “believes,” “anticipates,” “plans,” “expects,” “intends,” “potential,” or similar expressions. In addition, expressions of strategies, intentions or plans are also forward-looking statements. Such forward-looking statements include, but are not limited to, references to: continued progress with the FILSPARI launch in IgAN; plans and expectations regarding the submission of an sNDA for FILSPARI in FSGS, expectations regarding the timing and outcome thereof, and statements regarding preparations for a successful launch in FSGS, if approved; statements regarding the potential for FILSPARI to be the first and only approved medicine indicated for FSGS; statements regarding FILSPARI’s potential to replace the historical standard of care in IgAN as a new foundational therapy and to reach more patients at risk of IgAN progression; statements regarding manufacturing for pegtibatinase and the Company’s ability to restart enrollment in the Phase 3 HARMONY Study in 2026; statements regarding the Company’s sNDA requesting modification of liver monitoring for FILSPARI in IgAN and expectations regarding the timing and outcome thereof; expectations regarding the conversion of the current conditional marketing authorization (CMA) for FILSPARI for the treatment of IgAN in Europe to full approval; expectations regarding milestone payments and the potential achievement and timing thereof; expectations regarding the SPARTAN Study and the other studies described herein; expectations regarding Renalys Pharma’s registrational Phase 3 clinical trial of sparsentan for the treatment of IgAN in Japan; expectations regarding the KDIGO guidelines; and statements regarding financial metrics and expectations related thereto. Such forward-looking statements are based on current expectations and involve inherent risks and uncertainties, including factors that could delay, divert or change any of them, and could cause actual outcomes and results to differ materially from current expectations. No forward-looking statement can be guaranteed. Among the factors that could cause actual results to differ materially from those indicated in the forward-looking statements are risks and uncertainties related to the Company’s planned submission of an sNDA for FILSPARI in FSGS, including the timing and outcome thereof. There is no guarantee that the FDA will accept the sNDA for filing, grant priority review of the sNDA or grant approval of FILSPARI for FSGS. The Company also faces risks related to its business and finances in general, the success of its commercial products, risks and uncertainties associated with its preclinical and clinical stage pipeline, risks and uncertainties associated with the regulatory review and approval process, risks and uncertainties associated with enrollment of clinical trials for rare diseases, and risks that ongoing or planned clinical trials may not succeed or may be delayed for safety, regulatory or other reasons. Specifically, the Company faces risks associated with the ongoing commercial launch of FILSPARI in IgAN, the timing and potential outcome of its and its partners’ clinical studies, market acceptance of its commercial products including efficacy, safety, price, reimbursement, and benefit over competing therapies, risks related to the challenges of manufacturing scale-up, risks associated with the successful development and execution of commercial strategies for such products, including FILSPARI, and risks and uncertainties related to the new administration and matters related to the funding and staffing of government agencies including the FDA. The Company also faces the risk that it will be unable to raise additional funding that may be required to complete development of any or all of its product candidates, including as a result of macroeconomic conditions; risks relating to the Company’s dependence on contractors for clinical drug supply and commercial manufacturing; uncertainties relating to patent protection and exclusivity periods and intellectual property rights of third parties; risks associated with regulatory interactions; and risks and uncertainties relating to competitive products, including current and potential future generic competition with certain of the Company’s products, and technological changes that may limit demand for the Company’s products. The Company also faces additional risks associated with global and macroeconomic conditions, including health epidemics and pandemics, including risks related to potential disruptions to clinical trials, commercialization activity, supply chain, and manufacturing operations. You are cautioned not to place undue reliance on these forward-looking statements as there are important factors that could cause actual results to differ materially from those in forward-looking statements, many of which are beyond our control. The Company undertakes no obligation to publicly update any forward-looking statement, whether as a result of new information, future events, or otherwise. Investors are referred to the full discussion of risks and uncertainties, including under the heading “Risk Factors”, as included in the Company’s most recent Form 10-K, Form 10-Q and other filings with the Securities and Exchange Commission.

TRAVERE THERAPEUTICS, INC. AND SUBSIDIARIES
CONSOLIDATED BALANCE SHEETS
(in thousands, except share amounts)
		December 31, 2024				December 31, 2023
Assets
Current assets:
Cash and cash equivalents		$	58,535			$	58,176
Marketable debt securities, at fair value			312,166				508,675
Accounts receivable, net			27,116				21,179
Inventory			6,200				9,410
Prepaid expenses and other current assets			12,685				19,335
Total current assets			416,702				616,775
Long-term inventory			35,656				31,494
Property and equipment, net			5,336				7,479
Operating lease right-of-use assets			14,295				18,061
Intangible assets, net			103,974				104,443
Other assets			18,162				10,661
Total assets		$	594,125			$	788,913
Liabilities and Stockholders’ Equity
Current liabilities:
Accounts payable		$	23,534			$	41,675
Accrued expenses			86,028				118,991
Convertible debt, current portion			68,678				—
Deferred revenue, current portion			2,815				7,096
Operating lease liabilities, current portion			5,405				4,909
Other current liabilities			14,291				5,237
Total current liabilities			200,751				177,908
Convertible debt, less current portion			310,310				377,263
Operating lease liabilities, less current portion			17,191				22,612
Other non-current liabilities			6,796				10,320
Total liabilities			535,048				588,103
Stockholders’ Equity:
Preferred stock $0.0001 par value; 20,000,000 shares authorized; no shares issued and outstanding as of December 31, 2024 and 2023			—				—
Common stock $0.0001 par value; 200,000,000 and 200,000,000 shares authorized; 87,452,835 and 75,367,117 issued and outstanding as of December 31, 2024 and 2023, respectively			9				7
Additional paid-in capital			1,506,315				1,327,881
Accumulated deficit			(1,447,167	)			(1,125,622	)
Accumulated other comprehensive loss			(80	)			(1,456	)
Total stockholders’ equity			59,077				200,810
Total liabilities and stockholders’ equity		$	594,125			$	788,913
Note: Certain adjustments / reclassifications have been made to prior periods to conform to current year presentation.

TRAVERE THERAPEUTICS, INC. AND SUBSIDIARIES
CONSOLIDATED STATEMENT OF OPERATIONS
(in thousands, except share and per share data)
		Three Months Ended December 31,								Twelve Months Ended December 31,
			2024				2023				2024				2023
		(unaudited)
Net product sales:
FILSPARI		$	49,644			$	14,699			$	132,222			$	29,208
Tiopronin products			23,902				25,217				94,485				98,329
Total net product sales			73,546				39,916				226,707				127,537
License and collaboration revenue			1,241				5,143				6,468				17,701
Total revenue			74,787				45,059				233,175				145,238
Operating expenses:
Cost of goods sold			2,553				4,564				7,744				11,450
Research and development			62,067				59,746				217,496				244,990
Selling, general and administrative			69,501				63,588				264,119				265,542
In-process research and development			—				—				65,205				—
Restructuring			1,403				11,394				2,438				11,394
Total operating expenses			135,524				139,292				557,002				533,376
Operating loss			(60,737	)			(94,233	)			(323,827	)			(388,138	)
Other income (expense), net:
Interest income			3,795				7,152				17,817				21,768
Interest expense			(2,817	)			(2,821	)			(11,182	)			(11,334	)
Other (expense) income, net			(581	)			1,374				(3,318	)			1,594
Total other income, net			397				5,705				3,317				12,028
Loss from continuing operations before income tax provision			(60,340	)			(88,528	)			(320,510	)			(376,110	)
Income tax benefit (provision) on continuing operations			72				(68	)			(120	)			(223	)
Loss from continuing operations, net of tax			(60,268	)			(88,596	)			(320,630	)			(376,333	)
Income (loss) from discontinued operations, net of tax			4				(1,577	)			(915	)			264,934
Net loss		$	(60,264	)		$	(90,173	)		$	(321,545	)		$	(111,399	)
Per share data
Basic and diluted:
Net loss per common share		$	(0.73	)		$	(1.18	)		$	(4.08	)		$	(1.50	)
Weighted average common shares outstanding			83,105,184				76,474,560				78,888,861				74,267,418
Note: Certain adjustments / reclassifications have been made to prior periods to conform to current year presentation.

TRAVERE THERAPEUTICS, INC. AND SUBSIDIARIES
RECONCILIATION OF GAAP REPORTED TO NON-GAAP ADJUSTED INFORMATION
(in thousands, except share and per share data)
( unaudited )
		Three Months Ended December 31,								Twelve Months Ended December 31,
			2024				2023				2024				2023
GAAP operating loss		$	(60,737	)		$	(94,233	)		$	(323,827	)		$	(388,138	)
R&D operating expense			(62,067	)			(59,746	)			(217,496	)			(244,990	)
Stock compensation			3,426				3,426				14,178				17,284
Amortization & depreciation			—				997				—				7,261
Subtotal non-GAAP items			3,426				4,423				14,178				24,545
Non-GAAP R&D expense			(58,641	)			(55,323	)			(203,318	)			(220,445	)
SG&A operating expense			(69,501	)			(63,588	)			(264,119	)			(265,542	)
Stock compensation			5,789				3,070				22,735				28,389
Amortization & depreciation			12,093				10,855				43,555				37,671
Subtotal non-GAAP items			17,882				13,925				66,290				66,060
Non-GAAP SG&A expense			(51,619	)			(49,663	)			(197,829	)			(199,482	)
Subtotal non-GAAP items			21,308				18,348				80,468				90,605
Non-GAAP operating loss		$	(39,429	)		$	(75,885	)		$	(243,359	)		$	(297,533	)
GAAP net loss		$	(60,264	)		$	(90,173	)		$	(321,545	)		$	(111,399	)
Non-GAAP operating loss adjustments			21,308				18,348				80,468				90,605
Income tax (benefit) provision			(72	)			68				120				223
Non-GAAP net loss (1)		$	(39,028	)		$	(71,757	)		$	(240,957	)		$	(20,571	)
Per share data
Basic and diluted:
Non-GAAP net loss per common share		$	(0.47	)		$	(0.94	)		$	(3.05	)		$	(0.28	)
Weighted average common shares outstanding			83,105,184				76,474,560				78,888,861				74,267,418
(1) Non-GAAP net loss includes income from discontinued operations but excludes non-GAAP adjustments for the effect of discontinued operations.
Note: Certain adjustments / reclassifications have been made to prior periods to conform to current year presentation.

Contact: Investors: 888-969-7879 [email protected]

Media: 888-969-7879 [email protected]

LONDON, Feb. 20, 2025 (GLOBE NEWSWIRE) — Kiniksa Pharmaceuticals International, plc (Nasdaq: KNSA) announced today that it will host a conference call and live webcast on Tuesday, February 25, 2025 at 8:30 a.m. Eastern Time to report its fourth quarter and full year 2024 financial results and recent portfolio execution.

A live webcast will be accessible through the Investors & Media section of the company’s website at www.kiniksa.com. Individuals interested in participating in the call via telephone may register here. Upon registration, all telephone participants will receive a confirmation email detailing how to join the conference call, including the dial-in number along with a unique passcode and registrant ID that can be used to access the call. A replay of the event will also be available on Kiniksa’s website within approximately 48 hours after the event.

About Kiniksa

Kiniksa is a biopharmaceutical company dedicated to improving the lives of patients suffering from debilitating diseases by discovering, acquiring, developing, and commercializing novel therapies for diseases with unmet need, with a focus on cardiovascular indications. Kiniksa’s portfolio assets are based on strong biologic rationale or validated mechanisms and offer the potential for differentiation. For more information, please visit www.kiniksa.com.

Every Second Counts!



^®

Kiniksa Investor Contact

Jonathan Kirshenbaum
(781) 829-3949
[email protected]

Kiniksa Media Contact

Tyler Gagnon
(781) 431-9100
[email protected]

• Travis D. Stice to transition from role as Chief Executive Officer
• Kaes Van’t Hof, current President, will assume Chief Executive Officer role
• Austen Gilfillian, current Vice President, has been promoted to President
• Trevor Stoltz has been promoted to Vice President, Business Development
• John Phillips has been promoted to Vice President, Land

MIDLAND, Texas, Feb. 20, 2025 (GLOBE NEWSWIRE) — Viper Energy, Inc. (NASDAQ: VNOM) (“Viper” or the “Company”) today announced its leadership transition plan, representing the culmination of a thorough succession planning process and ensuring a seamless leadership transition that will position the Company for continued long term outperformance. Travis D. Stice will transition from his role as Chief Executive Officer, effective immediately. Kaes Van’t Hof, current President of the Company, will succeed Mr. Stice as Chief Executive Officer. Austen Gilfillian, current Vice President of Viper, will assume the role of President, also effective immediately.

“On behalf of the Board of Directors, I would like to thank and congratulate Travis for his leadership over the last ten years at Viper. The Viper IPO in 2014 was a watershed moment for the minerals market and is a testament to Travis’ vision,” stated Steven E. West, Chairman of the Board of Directors of Viper.

Mr. West continued “The Board looks forward to Travis’ continued contribution to the success of the Company through his position on the Board and his countless strong relationships in the mineral space in the Permian Basin. In addition, the Board remains extremely excited about Viper’s future as Kaes and Austen have worked to build out a strong, dedicated executive team.”

“It has been an honor to represent Viper as CEO over the last ten plus years,” said Mr. Stice. “Viper is a truly unique business model that established credibility with the market in a differentiated way from the start. The momentum at Viper today is very strong, its future is bright, and I look forward to supporting the Company through my position on the Board.”

Regarding Mr. Van’t Hof’s appointment, Mr. Stice noted, “Kaes has been a critical contributor to Viper’s success as President of the Company. The Viper Board of Directors is fully confident that Kaes, together with the support of Austen and the growing Viper management team, will continue to drive future success at Viper as he assumes the CEO role.”

“It is an honor to move into this position at Viper. Since its IPO in 2014, Viper has been a leader and category killer in its space, a testament to the vision and successful execution of what was then a new and exciting business model. Travis’ leadership helped drive Viper’s growth to where the Company is today. I look forward to continuing to solidify our position as the leader in the public mineral and royalties space while maintaining the visible competitive advantage of the relationship with Diamondback,” stated Mr. Van’t Hof.

Mr. Van’t Hof continued “I am also extremely excited to announce Austen’s promotion to President. Austen has proven leadership skills and has developed and implemented a business strategy that has led to significant growth and outperformance at Viper, a trend we expect to continue. The Viper management team continues to be built out as we prepare for future growth through consolidation of the highly fragmented minerals market.”

About Viper Energy, Inc.

Viper is a publicly traded Delaware corporation that owns and acquires mineral and royalty interests in oil and natural gas properties primarily in the Permian Basin.

Cautionary Note Regarding Forward-Looking Statements

This news release contains “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, which involve risks, uncertainties, and assumptions. All statements, other than statements of historical fact, including statements regarding Viper’s future leadership, performance, prospects, success and strategy are forward-looking statements. When used in this news release or otherwise by Viper, the words “aim,” “anticipate,” “believe,” “continue,” “could,” “estimate,” “expect,” “forecast,” “future,” “guidance,” “intend,” “may,” “model,” “outlook,” “plan,” “positioned,” “potential,” “predict,” “project,” “seek,” “should,” “target,” “will,” “would,” and similar expressions (including the negative of such terms) as they relate to Viper are intended to identify forward-looking statements, although not all forward-looking statements contain such identifying words. Although Viper believes that the expectations and assumptions reflected in its forward-looking statements are reasonable as and when made, they involve risks and uncertainties that are difficult to predict and, in many cases, beyond Viper’s control. Accordingly, forward-looking statements are not guarantees of future performance and Viper’s actual outcomes could differ materially from what Viper has expressed in its forward-looking statements. Information concerning these risks and uncertainties and other factors can be found in Viper’s filings with the U.S. Securities and Exchange Commission (“SEC”), including its reports on Forms 10-K, 10-Q and 8-K, each of which can be obtained free of charge on the SEC’s web site at http://www.sec.gov. Viper undertakes no obligation to update or revise any forward-looking statement unless required by applicable law.

Investor Contact:
Chip Seale
+1 432.247.6218
[email protected]

TORONTO, Feb. 20, 2025 (GLOBE NEWSWIRE) — Sprott Inc. (NYSE:SII) (TSX:SII) (“Sprott”) announced today that it plans to release its 2024 fourth quarter results at 7:00 a.m. on February 26, 2025. Sprott will host an earnings webcast that morning at 10:00 a.m. to discuss the results. Sprott CEO, Whitney George, together with Sprott CFO, Kevin Hibbert and Sprott Asset Management CEO, John Ciampaglia, will host the webcast, which can be accessed as outlined below.

Webcast Details
Date:	February 26, 2025
Time:	10:00am ET
Audio Webcast:	https://edge.media-server.com/mmc/p/syh6xw97

PLEASE NOTE: Research analysts who cover the company should register at:
https://register.vevent.com/register/BIe9622ad4a1434ee3beff3bfb7224f1ef

Pre-registration is now open.

About Sprott

Sprott is a global asset manager focused on precious metals and critical materials investments. We are specialists. We believe our in-depth knowledge, experience and relationships separate us from the generalists. Our investment strategies include Exchange Listed Products, Managed Equities and Private Strategies. Sprott has offices in Toronto, New York, Connecticut and California. The company’s common shares are listed on the New York Stock Exchange and the Toronto Stock Exchange under the symbol (SII). For more information, please visit www.sprott.com.

Investor contact information: (416) 943-4394 or [email protected].

PHOENIX, Feb. 20, 2025 (GLOBE NEWSWIRE) — WillScot Holdings Corporation (“WillScot” or the “Company”) (Nasdaq: WSC), a leader in innovative temporary space solutions, today announced fourth quarter and full year 2024 results including key performance highlights and market updates. The Company also announced its outlook for full year 2025.

Q4 2024

^1,2

• Generated revenue of $603 million, gross profit margin percentage of 55.8%, income from continuing operations of $89 million and diluted earnings per share of $0.48.
• Increased average monthly rates, inclusive of Value-Added Products (“VAPS”), offset much of the year-over-year impact from decreased units on rent.
• Delivered Adjusted EBITDA of $285 million, with Adjusted EBITDA Margin expanding sequentially to 47.3% and up 30 basis points year-over-year.
• Generated net cash provided by operating activities of $179 million at a 29.7% margin. Adjusted Free Cash Flow was $137 million at a 22.7% margin.

Full Year 2024

^1,2

• Generated revenue of $2,396 million as higher average monthly rates, inclusive of VAPS, offset the impact from lower units on rent from the prior year at a gross profit margin percentage of 54.3%.
• Income from continuing operations was $28 million and diluted earnings per share was $0.15. Adjusted Income from Continuing Operations was $310 million and adjusted diluted earnings per share was $1.63.
• Delivered Adjusted EBITDA of $1,063 million at an Adjusted EBITDA Margin of 44.4%.
• Generated net cash provided by operating activities of $562 million at a 23.4% margin, which included $226 million of fees and costs from terminated acquisitions. Adjusted Free Cash Flow was $554 million at a 23.1% margin.
• Generated 16.7% Return on Invested Capital (“ROIC”) over the last 12 months.
• Returned $270 million to shareholders by repurchasing 7.1 million shares of Common Stock, reducing our outstanding share count by 3.4% over the twelve months ended December 31, 2024.

2025 Outlook

^2,3

• FY 2025 Revenue and Adjusted EBITDA ranges of $2,275 million to $2,475 million and $1,000 million to $1,090 million, respectively, excluding the incremental contribution from any acquisitions.
• Reflects expectations for (i) continuing growth in average monthly rates, inclusive of VAPS, and expanded product offerings, and (ii) moderating comparative year-over-year headwinds in units on rent in the second half of the year.
• On January 9, 2025, the Company announced its 2025 Investor Day to be held on March 7, 2025, in Phoenix, Arizona, at 9:00 AM MST. Members of the executive management and operating team will present the Company’s updated operational strategy, long-term financial targets, and ongoing approach to capital allocation. The event will be available both in person and through live webcast at www.investors.willscot.com.
• On February 18, 2025, the Company broadened its capital allocation framework with the Board of Directors (“Board”) initiating a quarterly cash dividend program of $0.07 per share. The Board will regularly assess the cash dividend program with a long-term focus on increasing the dividend payment over time.

Brad Soultz, Chief Executive Officer of WillScot, commented “Our fourth quarter financial results capped another solid year for WillScot, notably Adjusted EBITDA margins of 47.3% in the period and Adjusted Free Cash Flow of $137 million at a margin of 22.7%. We believe we have a robust and sustainable free cash flow profile that reflects the resiliency of our cash flows across the cycle, the strength of our balance sheet, and our confidence in the Company’s long-term growth strategy. The initiation of our quarterly dividend program provides an additional avenue to return surplus capital to shareholders.”

Soultz added, “I would like to extend a heartfelt thank you to our team, customers, and shareholders. In 2024, we focused on aligning our people, systems, and products to drive deeper engagement with our customers. With this foundational work largely complete, we are prioritizing all aspects of sales and operations excellence, which provide new levers to support our growth strategy. We look forward to sharing more details with you at our Investor Day in two weeks.”

Fourth
Quarter and Full Year
2024
Results

²

	Three Months Ended December 31,								Year Ended December 31,
(in thousands, except share data)	2024				2023				2024				2023
Revenue	$	602,515			$	612,376			$	2,395,718			$	2,364,767
Income from continuing operations	$	89,215			$	86,328			$	28,129			$	341,844
Adjusted income from continuing operations2	$	90,469			$	91,497			$	309,512			$	353,618
Adjusted EBITDA from continuing operations2	$	284,712			$	287,802			$	1,063,160			$	1,061,465
Gross profit margin from continuing operations		55.8	%			56.0	%			54.3	%			56.4	%
Adjusted EBITDA Margin from continuing operations (%)2		47.3	%			47.0	%			44.4	%			44.9	%
Net cash provided by operating activities	$	178,919			$	219,322			$	561,644			$	761,240
Adjusted Free Cash Flow2,5	$	136,830			$	166,280			$	553,937			$	576,589
Diluted earnings per share from continuing operations	$	0.48			$	0.44			$	0.15			$	1.69
Adjusted diluted earnings per share from continuing operations2	$	0.49			$	0.47			$	1.63			$	1.75
Weighted average diluted shares outstanding		186,208,059				194,097,351				190,292,256				201,849,836
Adjusted weighted average diluted shares outstanding2		186,208,059				194,097,351				190,292,256				201,849,836
Net cash provided by operating activities margin		29.7	%			35.8	%			23.4	%			32.1	%
Adjusted Free Cash Flow Margin (%)2,5		22.7	%			27.2	%			23.1	%			24.3	%
Return on Invested Capital2		18.3	%			18.5	%			16.7	%			17.7	%

Matt Jacobsen, Chief Financial Officer of WillScot, commented, “We achieved record revenues of $2,396 million and Adjusted EBITDA of $1,063 million in 2024. We believe our ability to sustain solid financial results and expand margins in the fourth quarter, despite consistent end market headwinds, underscores the resilience of our business model.”

Jacobsen continued, “Turning to 2025, we believe our outlook reflects the uncertain macroeconomic backdrop entering the year. At the midpoint or better, it reflects modest top-line growth in the second half of the year as we expect average monthly rates, inclusive of VAPS, and expanded product offerings increasingly offset the volume-related headwinds present heading into the year. Finally, our Adjusted EBITDA and Net CAPEX outlook reflects our demonstrated ability to flex our cost structure as the macro environment changes. At the same time, we continue to see numerous investment opportunities, both organic and inorganic, that we anticipate will drive an increasing leasing revenue run rate into 2026 as we remain focused on growth and shareholder value creation.”

Capitalization and Liquidity Update

^{2, 3, 6}

As of and for the three months ended December 31, 2024, except where noted:

• Net cash provided by operating activities was $178.9 million. Excluding one-time, nonrecurring payments for terminated acquisitions of $13 million, the Company generated $137 million of Adjusted Free Cash Flow.
• Invested $55 million of Net CAPEX in the quarter, primarily supporting growth in new product lines.
• Invested $37 million of capital in one acquisition during the quarter, with $121 million invested in the last 12 months.
• Maintained availability under our asset backed revolving credit facility of approximately $1.6 billion.
• Total debt was $3,708 million and net debt, or total debt net of cash and cash equivalents, was $3,699 million.
• Weighted average pre-tax interest rate, inclusive of $1.25 billion of fixed-to-floating swaps at 3.55%, was approximately 5.8%. Annual cash interest expense based on the current debt structure and benchmark rates is approximately $219 million, or approximately $230 million inclusive of non-cash deferred financing fees. Our debt structure is approximately 87% / 13% fixed-to-floating after giving effect to all interest rate swaps.
• Our 2025 notes mature on June 15, 2025. We believe we have ample liquidity available to redeem or refinance our $527 million 2025 notes, using either our asset backed revolver or other sources of capital, and intend to do so opportunistically prior to maturity in a manner that optimizes our interest costs. Our subsequent debt maturity is in 2027.
• Leverage is at 3.5x based on our last 12 months Adjusted EBITDA from continuing operations of $1,063 million, within the target range of 3.0x to 3.5x.
• Repurchased 3.5 million shares of Common Stock for $130 million in the fourth quarter 2024, contributing to a 3.4% reduction in our outstanding share count over the 12 months ending December 31, 2024.

2025 Outlook

^{2, 3, 4}


This guidance is subject to risks and uncertainties, including those described in “Forward-Looking Statements” below.

$M	2024 Results From Continuing Operations		2025 Outlook
Revenue	$2,396		$2,275 – $2,475
Adjusted EBITDA2,3	$1,063		$1,000 – $1,090
Net CAPEX3,4	$233		$225 – $305

1 – Assumes common shares outstanding as of
December 31, 2024
versus common shares outstanding as of
December 31, 2023
.

2 – Adjusted EBITDA from continuing operations, Adjusted EBITDA Margin from continuing operations, Adjusted income from continuing operations, Adjusted Diluted Earnings Per Share, Adjusted Weighted Average Diluted Shares Outstanding, Adjusted Free Cash Flow, Adjusted Free Cash Flow Margin, Net Debt to Adjusted EBITDA, and
Return on Invested Capital are non-GAAP financial measures. Further information and reconciliations for these non-GAAP measures to the most directly comparable financial measure under generally accepted accounting principles in the US (“GAAP”) are included at the end of this press release.

3 – Information reconciling forward-looking Adjusted EBITDA, Net CAPEX, and Adjusted Free Cash Flow to GAAP financial measures is unavailable to the Company without unreasonable effort and therefore neither the most comparable GAAP measures nor reconciliations to the most comparable GAAP measures are provided.

4 – Net CAPEX is a non-GAAP financial measure. Please see the non-GAAP reconciliation tables included at the end of this press release.

5 – Adjusted Free Cash Flow incorporates results from discontinued operations. For comparability, we add back discontinued operations to reported revenue to calculate Adjusted Free Cash Flow Margin.

6 – Leverage is defined as Net Debt divided by Adjusted EBITDA from continuing operations from the last twelve months. We define Net Debt as total debt from continuing operations net of total cash and cash equivalents from continuing operations.

Non-GAAP Financial Measures
This press release includes non-GAAP financial measures, including Adjusted EBITDA from continuing operations, Adjusted EBITDA Margin from continuing operations, Adjusted income from continuing operations, Adjusted diluted earnings per share, Adjusted Weighted Average Diluted Shares Outstanding, Adjusted Free Cash Flow, Adjusted Free Cash Flow Margin, Return on Invested Capital, Net CAPEX, and Net Debt to Adjusted EBITDA ratio. Adjusted EBITDA from continuing operations is defined as net income plus net interest (income) expense, income tax expense (benefit), depreciation and amortization adjusted to exclude certain non-cash items and the effect of what we consider transactions or events not related to our core business operations, including net currency gains and losses, goodwill and other impairment charges, restructuring costs, costs to integrate acquired companies, costs incurred related to transactions, non-cash charges for stock compensation plans and other discrete expenses. Adjusted EBITDA Margin from continuing operations is defined as Adjusted EBITDA from continuing operations divided by revenue. Adjusted income from continuing operations is defined as income from continuing operations plus certain non-cash items and the effect of what we consider transactions or events not related to our core business operations, including goodwill and other impairment charges, restructuring costs, costs to integrate acquired companies, costs incurred related to transactions, and other discrete expenses. Adjusted diluted earnings per share is defined as adjusted income from continuing operations divided by Adjusted diluted weighted average common shares outstanding. The calculation of Adjusted Weighted Average Diluted Shares Outstanding includes shares related to stock awards that are dilutive for Adjusted diluted earnings per share. Adjusted Free Cash Flow is defined as net cash provided by operating activities; less purchases of rental equipment and property, plant and equipment and plus proceeds from sale of rental equipment and property, plant and equipment, which are all included in cash flows from investing activities; excluding one-time, nonrecurring payments for the McGrath termination fee and transaction costs from terminated acquisitions. Adjusted Free Cash Flow Margin is defined as Adjusted Free Cash Flow divided by revenue. Return on Invested Capital is defined as adjusted earnings before interest and amortization divided by average invested capital. Adjusted earnings before interest and amortization is defined as Adjusted EBITDA (see definition above) reduced by depreciation and estimated statutory taxes. Given we are not a significant US taxpayer due to our current tax attributes, we include estimated taxes at our current statutory tax rate of approximately 25%. Average invested capital is calculated as an average of net assets. Net assets is defined as total assets less goodwill, intangible assets, net and all non-interest bearing liabilities. Net CAPEX is defined as purchases of rental equipment and refurbishments and purchases of property, plant and equipment (collectively, “Total Capital Expenditures”), less proceeds from the sale of rental equipment and proceeds from the sale of property, plant and equipment (collectively, “Total Proceeds”), which are all included in cash flows from investing activities. Net Debt to Adjusted EBITDA ratio is defined as Net Debt divided by Adjusted EBITDA. The Company believes that Adjusted EBITDA and Adjusted EBITDA margin are useful to investors because they (i) allow investors to compare performance over various reporting periods on a consistent basis by removing from operating results the impact of items that do not reflect core operating performance; (ii) are used by our board of directors and management to assess our performance; (iii) may, subject to the limitations described below, enable investors to compare the performance of the Company to its competitors; (iv) provide additional tools for investors to use in evaluating ongoing operating results and trends; and (v) align with definitions in our credit agreement. The Company believes that Adjusted Free Cash Flow and Adjusted Free Cash Flow Margin are useful to investors because they allow investors to compare cash generation performance over various reporting periods and against peers. The Company believes that Return on Invested Capital provides information about the long-term health and profitability of the business relative to the Company’s cost of capital. The Company believes that the presentation of Net CAPEX provides useful information to investors regarding the net capital invested into our rental fleet and plant, property and equipment each year to assist in analyzing the performance of our business. The Company believes that the presentation of Net Debt to Adjusted EBITDA, Adjusted income from continuing operations and Adjusted Diluted Earnings Per Share provide useful information to investors regarding the performance of our business. Adjusted EBITDA is not a measure of financial performance or liquidity under GAAP and, accordingly, should not be considered as an alternative to net income or cash flow from operating activities as an indicator of operating performance or liquidity. These non-GAAP measures should not be considered in isolation from, or as an alternative to, financial measures determined in accordance with GAAP. Other companies may calculate Adjusted EBITDA and other non-GAAP financial measures differently, and therefore the Company’s non-GAAP financial measures may not be directly comparable to similarly-titled measures of other companies. For reconciliations of the non-GAAP measures used in this press release (except as explained below), see “Reconciliation of Non-GAAP Financial Measures” included in this press release.

Information regarding the most comparable GAAP financial measures and reconciling forward-looking Adjusted EBITDA, Net CAPEX, and Adjusted Free Cash Flow to those GAAP financial measures is unavailable to the Company without unreasonable effort. We cannot provide the most comparable GAAP financial measures nor reconciliations of forward-looking Adjusted EBITDA, Net CAPEX, and Adjusted Free Cash Flow to GAAP financial measures because certain items required for such reconciliations are outside of our control and/or cannot be reasonably predicted, such as the provision for income taxes. Preparation of such reconciliations would require a forward-looking balance sheet, statement of income and statement of cash flow, prepared in accordance with GAAP, and such forward-looking financial statements are unavailable to the Company without unreasonable effort. Although we provide ranges of Adjusted EBITDA and Net CAPEX that we believe will be achieved, we cannot accurately predict all the components of the Adjusted EBITDA and Net CAPEX calculations. The Company provides Adjusted EBITDA and Net CAPEX guidance because we believe that Adjusted EBITDA and Net CAPEX, when viewed with our results under GAAP, provides useful information for the reasons noted above.

Conference Call Information
WillScot will host a conference call and webcast to discuss its fourth quarter 2024 results and 2025 outlook at 5:30 p.m. Eastern Time on Thursday, February 20, 2025. To access the live call by phone, use the following link: https://register.vevent.com/register/BI81afef892a684237874777ee0f09923f

You will be provided with dial-in details after registering. To avoid delays, we recommend that participants dial into the conference call 15 minutes ahead of the scheduled start time. A live webcast will also be accessible via the “Events & Presentations” section of the Company’s investor relations website: www.investors.willscot.com. Choose “Events” and select the information pertaining to the WillScot Fourth Quarter 2024 Conference Call. Additionally, there will be slides accompanying the webcast. Please allow at least 15 minutes prior to the call to register, download and install any necessary software. For those unable to listen to the live broadcast, an audio webcast of the call will be available for 12 months on the Company’s investor relations website.

About WillScot
Listed on the Nasdaq stock exchange under the ticker symbol “WSC,” WillScot is the premier provider of highly innovative and turnkey space solutions in North America. The Company’s comprehensive range of products includes modular office complexes, mobile offices, classrooms, temporary restrooms, portable storage containers, protective buildings and climate-controlled units, and clearspan structures, as well as a curated selection of furnishings, appliances, and other supplementary services, ensuring turnkey solutions for its customers. Headquartered in Phoenix, Arizona, and operating from a network of approximately 260 branch locations and additional drop lots across the United States, Canada, and Mexico, WillScot’s business services are essential for diverse customer segments spanning all sectors of the economy.

Forward-Looking Statements
This news release contains forward-looking statements (including the guidance/outlook contained herein) within the meaning of the U.S. Private Securities Litigation Reform Act of 1995 and Section 21E of the Securities Exchange Act of 1934, as amended. The words “estimates,” “expects,” “anticipates,” “believes,” “forecasts,” “plans,” “intends,” “may,” “will,” “should,” “shall,” “outlook,” “guidance,” “see,” “have confidence” and variations of these words and similar expressions identify forward-looking statements, which are generally not historical in nature. Certain of these forward-looking statements include statements relating to: our mergers and acquisitions pipeline, acceleration of our run rate, acceleration toward and the timing of our achievement of our three to five year milestones, growth and acceleration of cash flow, driving higher returns on invested capital, and Adjusted EBITDA margin expansion. Forward-looking statements are subject to a number of risks, uncertainties, assumptions and other important factors, many of which are outside our control, which could cause actual results or outcomes to differ materially from those discussed in the forward-looking statements. Although the Company believes that these forward-looking statements are based on reasonable assumptions, they are predictions and we can give no assurance that any such forward-looking statement will materialize. Important factors that may affect actual results or outcomes include, among others, our ability to acquire and integrate new assets and operations; our ability to judge the demand outlook; our ability to achieve planned synergies related to acquisitions; regulatory approvals; our ability to successfully execute our growth strategy, manage growth and execute our business plan; our estimates of the size of the markets for our products; the rate and degree of market acceptance of our products; the success of other competing modular space and portable storage solutions that exist or may become available; rising costs and inflationary pressures adversely affecting our profitability; potential litigation involving our Company; general economic and market conditions impacting demand for our products and services and our ability to benefit from an inflationary environment; our ability to maintain an effective system of internal controls; and such other risks and uncertainties described in the periodic reports we file with the SEC from time to time (including our Form 10-K for the year ended December 31, 2024), which are available through the SEC’s EDGAR system at www.sec.gov and on our website. Any forward-looking statement speaks only at the date on which it is made, and the Company disclaims any obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law.

Additional Information and Where to Find It
Additional information can be found on the company’s website at www.willscot.com.

Contact Information
Investor Inquiries:		Media Inquiries:
Charlie Wohlhuter		Juliana Welling
[email protected]		[email protected]

WillScot Holdings Corporation
Consolidated Statements of Operations
	Unaudited
	Three Months Ended December 31,							Year Ended December 31,
(in thousands, except share and per share data)	2024			2023				2024			2023
Revenues:
Leasing and services revenue:
Leasing	$	465,104		$	477,895			$	1,839,875		$	1,833,935
Delivery and installation		95,607			102,197				418,881			437,179
Sales revenue:
New units		21,772			18,313				74,499			48,129
Rental units		20,032			13,971				62,463			45,524
Total revenues		602,515			612,376				2,395,718			2,364,767
Costs:
Costs of leasing and services:
Leasing		88,386			98,065				385,078			398,467
Delivery and installation		78,093			78,680				328,880			317,117
Costs of sales:
New units		14,258			10,340				45,554			26,439
Rental units		10,017			6,938				32,224			23,141
Depreciation of rental equipment		75,412			75,177				302,143			265,733
Gross profit		336,349			343,176				1,301,839			1,333,870
Other operating expenses:
Selling, general and administrative		136,795			146,405				630,705			596,090
Other depreciation and amortization		23,666			20,550				82,829			72,921
Termination fee		—			—				180,000			—
Impairment loss on intangible asset		—			—				132,540			—
Restructuring costs		19			—				8,559			—
Currency losses, net		687			(131	)			593			6,754
Other expense (income), net		763			(821	)			2,698			(15,354	)
Operating income		174,419			177,173				263,915			673,459
Interest expense, net		59,352			59,125				227,311			205,040
Income from continuing operations before income tax		115,067			118,048				36,604			468,419
Income tax expense from continuing operations		25,852			31,720				8,475			126,575
Income from continuing operations		89,215			86,328				28,129			341,844
Discontinued operations:
Income from discontinued operations before income tax		—			—				—			4,003
Gain on sale of discontinued operations		—			—				—			176,078
Income tax expense from discontinued operations		—			—				—			45,468
Income from discontinued operations		—			—				—			134,613
Net income	$	89,215		$	86,328			$	28,129		$	476,457
Earnings per share from continuing operations:
Basic	$	0.48		$	0.45			$	0.15		$	1.72
Diluted	$	0.48		$	0.44			$	0.15		$	1.69
Earnings per share from discontinued operations:
Basic	$	—		$	—			$	—		$	0.68
Diluted	$	—		$	—			$	—		$	0.67
Earnings per share:
Basic	$	0.48		$	0.45			$	0.15		$	2.40
Diluted	$	0.48		$	0.44			$	0.15		$	2.36
Weighted average shares:
Basic		184,347,088			191,171,967				188,101,693			198,554,885
Diluted		186,208,059			194,097,351				190,292,256			201,849,836

WillScot Holdings Corporation
Consolidated Balance Sheets
	December 31,
(in thousands, except share data)	2024				2023
Assets
Cash and cash equivalents	$	9,001			$	10,958
Trade receivables, net of allowances for credit losses at December 31, 2024 and December 31, 2023 of $101,693 and $81,656, respectively		430,381				451,130
Inventories		47,473				47,406
Prepaid expenses and other current assets		67,751				57,492
Assets held for sale		2,904				2,110
Total current assets		557,510				569,096
Rental equipment, net		3,377,939				3,381,315
Property, plant and equipment, net		363,073				340,887
Operating lease assets		266,761				245,647
Goodwill		1,201,353				1,176,635
Intangible assets, net		251,164				419,709
Other non-current assets		17,111				4,626
Total long-term assets		5,477,401				5,568,819
Total assets	$	6,034,911			$	6,137,915
Liabilities and equity
Accounts payable	$	96,597			$	86,123
Accrued expenses		121,583				129,621
Accrued employee benefits		25,062				45,564
Deferred revenue and customer deposits		250,790				224,518
Operating lease liabilities – current		66,378				57,408
Current portion of long-term debt		24,598				18,786
Total current liabilities		585,008				562,020
Long-term debt		3,683,502				3,538,516
Deferred tax liabilities		505,913				554,268
Operating lease liabilities – non-current		200,875				187,837
Other non-current liabilities		41,020				34,024
Long-term liabilities		4,431,310				4,314,645
Total liabilities		5,016,318				4,876,665
Preferred Stock: $0.0001 par, 1,000,000 shares authorized and zero shares issued and outstanding at December 31, 2024 and December 31, 2023		—				—
Common Stock: $0.0001 par, 500,000,000 shares authorized and 183,564,899 and 189,967,135 shares issued and outstanding at December 31, 2024 and December 31, 2023, respectively		19				20
Additional paid-in-capital		1,836,165				2,089,091
Accumulated other comprehensive loss		(70,627	)			(52,768	)
Accumulated deficit		(746,964	)			(775,093	)
Total shareholders’ equity		1,018,593				1,261,250
Total liabilities and shareholders’ equity	$	6,034,911			$	6,137,915

Reconciliation of Non-GAAP Financial Measures

In addition to using GAAP financial measurements, we use certain non-GAAP financial information that we believe is important for purposes of comparison to prior periods and development of future projections and earnings growth prospects. This information is also used by management to measure the profitability of our ongoing operations and analyze our business performance and trends.

We evaluate business performance on Adjusted EBITDA, a non-GAAP measure that excludes certain items as described below. We believe that evaluating performance excluding such items is meaningful because it provides insight with respect to intrinsic and ongoing operating results of the Company.

We also regularly evaluate gross profit to assist in the assessment of the operational performance. We consider Adjusted EBITDA to be the more important metric because it more fully captures the business performance, inclusive of indirect costs.

We also evaluate Free Cash Flow, a non-GAAP measure that provides useful information concerning cash flow available to fund our capital allocation alternatives.

Adjusted EBITDA From Continuing Operations

We define EBITDA as net income (loss) plus interest (income) expense, income tax expense (benefit), depreciation and amortization. Our adjusted EBITDA (“Adjusted EBITDA”) reflects the following further adjustments to EBITDA to exclude certain non-cash items and the effect of what we consider transactions or events not related to our core business operations:

• Goodwill and other impairment charges related to non-cash costs associated with impairment charges to goodwill, other intangibles, rental fleet and property, plant and equipment.
• Restructuring costs, lease impairment expense, and other related charges associated with restructuring plans designed to streamline operations and reduce costs including employee termination costs.
• Currency (gains) losses, net on monetary assets and liabilities denominated in foreign currencies other than the subsidiaries’ functional currency.
• Transaction costs including legal and professional fees and other transaction specific related costs.
• Costs to integrate acquired companies, including outside professional fees, non-capitalized costs associated with system integrations, non-lease branch and fleet relocation expenses, employee training costs, and other costs required to realize cost or revenue synergies.
• Non-cash charges for stock compensation plans.
• Other expense, including consulting expenses related to certain one-time projects, financing costs not classified as interest expense, gains and losses on disposals of property, plant, and equipment, and unrealized gains and losses on investments.

Adjusted EBITDA has limitations as an analytical tool, and you should not consider the measure in isolation or as a substitute for net income (loss), cash flow from operations or other methods of analyzing the Company’s results as reported under GAAP. Some of these limitations are:

• Adjusted EBITDA does not reflect changes in, or cash requirements for our working capital needs;
• Adjusted EBITDA does not reflect our interest expense, or the cash requirements necessary to service interest or principal payments, on our indebtedness;
• Adjusted EBITDA does not reflect our tax expense or the cash requirements to pay our taxes;
• Adjusted EBITDA does not reflect historical cash expenditures or future requirements for capital expenditures or contractual commitments;
• Adjusted EBITDA does not reflect the impact on earnings or changes resulting from matters that we consider not to be indicative of our future operations;
• Although depreciation and amortization are non-cash charges, the assets being depreciated and amortized will often have to be replaced in the future and Adjusted EBITDA does not reflect any cash requirements for such replacements; and
• Other companies in our industry may calculate Adjusted EBITDA differently, limiting its usefulness as a comparative measure.

Because of these limitations, Adjusted EBITDA should not be considered as discretionary cash available to reinvest in the growth of our business or as a measure of cash that will be available to meet our obligations.

The following table provides reconciliations of Income from continuing operations to Adjusted EBITDA from continuing operations:

	Three Months Ended December 31,							Year Ended December 31,
(in thousands)	2024			2023				2024			2023
Income from continuing operations	$	89,215		$	86,328			$	28,129		$	341,844
Income tax expense from continuing operations		25,852			31,720				8,475			126,575
Interest expense, net		59,352			59,125				227,311			205,040
Depreciation and amortization		99,078			95,727				384,972			338,654
Currency losses (gains), net		687			(131	)			593			6,754
Restructuring costs, lease impairment expense and other related charges		28			—				9,435			22
Termination fee		—			—				180,000			—
Impairment loss on intangible asset		—			—				132,540			—
Impairment loss on long-lived asset		374			—				374			—
Transaction costs		376			1,472				651			2,259
Integration costs		121			3,466				7,521			10,366
Stock compensation expense		7,719			8,352				35,966			34,486
Other(a)		1,910			1,743				47,193			(4,535	)
Adjusted EBITDA from continuing operations	$	284,712		$	287,802			$	1,063,160		$	1,061,465

(a) Includes $1.1 million and $42.4 million in legal and professional fees related to the terminated McGrath transaction for the three months ended December 31, 2024 and the year ended December 31, 2024, respectively.

Adjusted EBITDA Margin From Continuing Operations

We define Adjusted EBITDA Margin as Adjusted EBITDA divided by revenue. Management believes that the presentation of Adjusted EBITDA Margin provides useful information to investors regarding the performance of our business. The following table provides comparisons of Adjusted EBITDA Margin to Gross Profit Margin:

	Three Months Ended December 31,								Year Ended December 31,
(in thousands)	2024				2023				2024				2023
Adjusted EBITDA from continuing operations (A)	$	284,712			$	287,802			$	1,063,160			$	1,061,465
Revenue (B)	$	602,515			$	612,376			$	2,395,718			$	2,364,767
Adjusted EBITDA Margin from Continuing Operations (A/B)		47.3	%			47.0	%			44.4	%			44.9	%
Gross profit (C)	$	336,349			$	343,176			$	1,301,839			$	1,333,870
Gross Profit Margin (C/B)		55.8	%			56.0	%			54.3	%			56.4	%

Net Debt to Adjusted EBITDA From Continuing Operations Ratio

Net Debt to Adjusted EBITDA ratio is defined as Net Debt divided by Adjusted EBITDA from continuing operations from the last twelve months. We define Net Debt as total debt from continuing operations net of total cash and cash equivalents from continuing operations. Management believes that the presentation of Net Debt to Adjusted EBITDA ratio provides useful information to investors regarding the performance of our business. The following table provides a reconciliation of Net Debt to Adjusted EBITDA ratio:

(in thousands)	December 31, 2024
Long-term debt	$	3,683,502
Current portion of long-term debt		24,598
Total debt		3,708,100
Cash and cash equivalents		9,001
Net debt (A)	$	3,699,099
Adjusted EBITDA from continuing operations (B)	$	1,063,160
Net Debt to Adjusted EBITDA ratio (A/B)		3.5

Adjusted Income from Continuing Operations and Adjusted Diluted Earnings Per Share

We define adjusted income from continuing operations as income from continuing operations, plus certain non-cash items and the effect of what we consider transactions not related to our core business operations including:

• Goodwill and other impairment charges related to non-cash costs associated with impairment charges to goodwill, other intangibles, rental fleet and property, plant and equipment.
• Restructuring costs, lease impairment expense, and other related charges associated with restructuring plans designed to streamline operations and reduce costs including employee and lease termination costs.
• Transaction costs including legal and professional fees and other transaction specific related costs.
• Costs to integrate acquired companies, including outside professional fees, non-capitalized costs associated with system integrations, non-lease branch and fleet relocation expenses, employee training costs, and other costs required to realize cost or revenue synergies.
• Transaction costs, including legal and professional fees and other transaction-specific costs, for terminated acquisitions.

We define adjusted diluted earnings per share from continuing operations as adjusted income from continuing operations divided by adjusted diluted weighted average common shares outstanding. Management believes that the presentation of adjusted income from continuing operations and adjusted diluted earnings per share from continuing operations provide useful information to investors regarding the performance of our business.

The following table provides reconciliations of income from continuing operations to adjusted income from continuing operations and comparisons of diluted earnings per share to adjusted diluted earnings per share:

	Three Months Ended December 31,								Year Ended December 31,
(in thousands, except share data)	2024				2023				2024				2023
Income from continuing operations	$	89,215			$	86,328			$	28,129			$	341,844
Restructuring costs, lease impairment expense and other related charges, net		28				—				9,435				22
Termination fee		—				—				180,000				—
Impairment loss on intangible asset		—				—				132,540				—
Transaction costs		376				1,472				651				2,259
Integration costs		121				3,466				7,521				10,366
Transaction costs from terminated acquisitions		1,147				2,047				45,031				3,264
Estimated tax impact1		(418	)			(1,816	)			(93,795	)			(4,137	)
Adjusted income from continuing operations	$	90,469			$	91,497			$	309,512			$	353,618
Income from continuing operations per adjusted diluted share2	$	0.48			$	0.44			$	0.15			$	1.69
Restructuring costs, lease impairment expense and other related charges, net		—				—				0.05				—
Termination fee		—				—				0.95				—
Impairment loss on intangible asset		—				—				0.70				—
Transaction costs		—				0.01				—				0.01
Integration costs		—				0.02				0.04				0.05
Transaction costs from terminated acquisitions		0.01				0.01				0.24				0.02
Estimated tax impact1		—				(0.01	)			(0.50	)			(0.02	)
Adjusted Diluted Earnings Per Share	$	0.49			$	0.47			$	1.63			$	1.75
Weighted average diluted shares outstanding		186,208,059				194,097,351				190,292,256				201,849,836
Adjusted weighted average dilutive shares outstanding		186,208,059				194,097,351				190,292,256				201,849,836

¹ We include estimated taxes at our current statutory tax rate of approximately 25% for the three and twelve months ended December 31, 2024 and 26% for the three and twelve months ended December 31, 2023.

Adjusted Free Cash Flow and Adjusted Free Cash Flow Margin

We define Adjusted Free Cash Flow as net cash provided by operating activities; less purchases of rental equipment and property, plant and equipment and plus proceeds from sale of rental equipment and property, plant and equipment, which are all included in cash flows from investing activities; excluding one-time, nonrecurring payments for the McGrath termination fee and transaction costs from terminated acquisitions. Adjusted Free Cash Flow Margin is defined as Adjusted Free Cash Flow divided by Total Revenue including discontinued operations. Management believes that the presentation of Adjusted Free Cash Flow and Adjusted Free Cash Flow Margin provides useful additional information concerning cash flow available to fund our capital allocation alternatives. Adjusted Free Cash Flow as presented includes amounts for the former UK Storage Solutions segment through January 31, 2023. The following table provides reconciliations of Adjusted Free Cash Flow and Adjusted Free Cash Flow Margin:

	Three Months Ended December 31,								Year Ended December 31,
(in thousands)	2024				2023				2024				2023
Net cash provided by operating activities	$	178,919			$	219,322			$	561,644			$	761,240
Purchase of rental equipment and refurbishments		(73,868	)			(60,879	)			(280,857	)			(226,976	)
Proceeds from sale of rental equipment		20,091				13,316				63,997				51,290
Purchase of property, plant and equipment		(2,316	)			(5,485	)			(18,435	)			(22,237	)
Proceeds from the sale of property, plant and equipment		734				6				1,867				13,272
Cash paid for termination fee		—				—				180,000				—
Cash paid for transaction costs from terminated acquisitions		13,270				—				45,721				—
Adjusted Free Cash Flow (A)	$	136,830			$	166,280			$	553,937			$	576,589
Revenue from continuing operations (B)	$	602,515			$	612,376			$	2,395,718			$	2,364,767
Revenue from discontinued operations		—				—				—				8,694
Total Revenue including discontinued operations (C)	$	602,515			$	612,376			$	2,395,718			$	2,373,461
Adjusted Free Cash Flow Margin (A/C)		22.7	%			27.2	%			23.1	%			24.3	%
Net cash provided by operating activities (D)	$	178,919			$	219,322			$	561,644			$	761,240
Net cash provided by operating activities margin (D/C)		29.7	%			35.8	%			23.4	%			32.1	%

Net CAPEX

We define Net CAPEX as purchases of rental equipment and refurbishments and purchases of property, plant and equipment (collectively, “Total Capital Expenditures”), less proceeds from the sale of rental equipment and proceeds from the sale of property, plant and equipment (collectively, “Total Proceeds”), which are all included in cash flows from investing activities. Management believes that the presentation of Net CAPEX provides useful information regarding the net capital invested in our rental fleet and property, plant and equipment each year to assist in analyzing the performance of our business. As presented below, Net CAPEX includes amounts for the former UK Storage Solutions segment through January 31, 2023.

The following table provides reconciliations of Net CAPEX:

	Three Months Ended December 31,								Year Ended December 31,
(in thousands)	2024				2023				2024				2023
Purchases of rental equipment and refurbishments	$	(73,868	)		$	(60,879	)		$	(280,857	)		$	(226,976	)
Proceeds from sale of rental equipment		20,091				13,316				63,997				51,290
Net CAPEX for Rental Equipment		(53,777	)			(47,563	)			(216,860	)			(175,686	)
Purchases of property, plant and equipment		(2,316	)			(5,485	)			(18,435	)			(22,237	)
Proceeds from sale of property, plant and equipment		734				6				1,867				13,272
Net CAPEX	$	(55,359	)		$	(53,042	)		$	(233,428	)		$	(184,651	)

Return on Invested Capital

Return on Invested Capital is defined as Adjusted earnings before interest and amortization divided by Average Invested Capital. Management believes that the presentation of Return on Invested Capital provides useful information regarding the long-term health and profitability of the business relative to the Company’s cost of capital. We define Adjusted earnings before interest and amortization as Adjusted EBITDA (see reconciliation above) reduced by depreciation and estimated taxes. Given we are not a significant US taxpayer due to our current tax attributes, we include estimated taxes at our current statutory tax rate.

The Average Invested Capital is calculated as an average of Net Assets, a four quarter average for annual metrics and two quarter average for quarterly metrics. Net assets is defined for purposes of the calculation below as total assets less goodwill, intangible assets, net, and all non-interest bearing liabilities.

The following table provides reconciliations of Return on Invested Capital and includes amounts for the former UK Storage Solutions segment through January 31, 2023.

	Three Months Ended December 31,								Year Ended December 31,
(in thousands)	2024				2023				2024				2023
Total Assets	$	6,034,911			$	6,137,915			$	6,034,911			$	6,137,915
Goodwill		(1,201,353	)			(1,176,635	)			(1,201,353	)			(1,176,635	)
Intangible Assets, net		(251,164	)			(419,709	)			(251,164	)			(419,709	)
Total Liabilities		(5,016,318	)			(4,876,665	)			(5,016,318	)			(4,876,665	)
Long Term Debt		3,683,502				3,538,516				3,683,502				3,538,516
Net Assets, as defined above	$	3,249,578			$	3,203,422			$	3,249,578			$	3,203,422
Average Invested Capital (A)	$	3,237,093			$	3,208,368			$	3,217,513			$	3,124,064
Adjusted EBITDA	$	284,712			$	287,802			$	1,063,160			$	1,061,465
Depreciation		(87,203	)			(87,716	)			(346,467	)			(312,830	)
Adjusted EBITA (B)	$	197,509			$	200,086			$	716,693			$	748,635
Statutory Tax Rate (C)		25	%			26	%			25	%			26	%
Estimated Tax (B*C)	$	49,377			$	52,022			$	179,173			$	194,645
Adjusted earnings before interest and amortization (D)	$	148,132			$	148,064			$	537,520			$	553,990
ROIC (D/A), annualized		18.3	%			18.5	%			16.7	%			17.7	%

VANCOUVER, British Columbia and BOSTON, Feb. 20, 2025 (GLOBE NEWSWIRE) — Xenon Pharmaceuticals Inc. (Nasdaq: XENE), a neuroscience-focused biopharmaceutical company dedicated to discovering, developing, and delivering life-changing therapeutics for patients in need, today announced it will report its fourth quarter 2024 financial results after the close of U.S. financial markets on Thursday, February 27, 2025.

Conference Call/Webcast Information:

Date:	Thursday, February 27, 2025
Time:	4:30 pm Eastern Time (1:30 pm Pacific Time)
Webcast:	Pre-register here
Dial-In:	(800) 715-9871 toll-free or (646) 307-1963 for international callers
Conference ID:	8120798

A live webcast of the company presentation will be available on the “Investors” section of Xenon’s website and posted for replay following the event. The above listed dates and times are subject to change.

About Xenon Pharmaceuticals Inc.

Xenon Pharmaceuticals (Nasdaq:XENE) is a neuroscience-focused biopharmaceutical company dedicated to discovering, developing, and delivering life-changing therapeutics. We are advancing an ion channel product portfolio to address areas of high unmet medical need, including epilepsy and depression. Azetukalner, a novel, highly potent, selective Kv7 potassium channel opener, represents the most advanced, clinically validated potassium channel modulator in late-stage clinical development for multiple indications. For more information, please visit www.xenon-pharma.com.

“Xenon” and the Xenon logo are registered trademarks or trademarks of Xenon Pharmaceuticals Inc. in various jurisdictions. All other trademarks belong to their respective owner.

Contacts:

For Investors:

Chad Fugere
Vice President, Investor Relations
(857) 675-7275
[email protected]

For Media:

Colleen Alabiso
Senior Vice President, Corporate Affairs
(617) 671-9238
[email protected]