Bob. on and put I everyone. with call. you start context. summary slide earnings for thank into report Thank to some Good remarks thoughts the open you, X afternoon, today’s my joining And will
noted the Emergent, XXXX transition the the from of a rebaseline back we envisioned have trajectory demands XXXX. as as work exited that the our years, two COVID-related long-term previously significant prior we is year we towards for business We of
Our first was standalone basis. quarter performance on a solid
BARDA with same We our in and had gross facility, the time, bolus from announcement as impact late services revenue the business. in from manufacturing. results we challenges XXXX. experienced pause short-term year-over-year in to business increases the reflect revenue our Bayview Even At stable contributions year-over-year products notably, from task order stemming February of temporarily reduced the margin. the the Most products
and facility. short-lived in confident improve be are garner expect from the business future, in services challenges services the will the to margin contribution more gross meaningful as We we the Bayview
investments consisting services our line. on of commercial also consisting the medical the assessing During the government in quarter, a segments, products pipeline, countermeasure and progressing we lines; and and a development focusing business business segment, continued segment, services our operating product of by reportable performance began CDMO we two
quarter performance the this and services strength model. durability products and our diversified together, our Taken underscores of business
for results elements to quarter, the Turning through decision of to XXXX it our is our the temporarily important before to suspend slide XX, I walk address forecast.
all are we Johnson COVID-XX & year, As not supply for a vaccine citing that sales and change. basis this aware, announced they developing recently as global hesitancy countries, in surplus for would the Johnson this vaccine project
are modified we While we guidance has requirements. our remains commercial on temporarily agreement not further place, suspending and clarity their CDMO supply in been have until
and As aggregate our adjusted quarter a total are said that billion products important it’s our contracts net midpoint. with suspending the ACAMXXXX, Having and grants, nasal products revenues EBITDA income, and second total range, on adjusted slide the we it reaffirming Therefore, unchanged. anthrax to vaccines, that, are products XX about providing refraining quarters remain respect and revenues, on note we which assumptions to is of previous result, revenue in $X or three other our for also represent at naloxone margin, temporarily guidance listed guidance revenue plus our guidance. segment gross from and
At time, note over services let’s With which would information Winnipeg prior CDMO guidance I we communicate our that, customers. Camden, to the Gaithersburg our was by represented to appropriate of Additionally, to deliver additional will that half and turn and CDMO update continued our forecast. our sites, overall quality the numbers.
guidance, driven of and over total board year the contracts As the high categories but indicated of decrease and revenues highlights offset include sales, by million, revenue and by prior product across XX, period, a the CDMO $XXX revenues. XX in grants our and our increases end slides lower on at
deliveries the strategic the items Other As government’s of than include, adjusted prior $XXX and the also year to expected, EBITDA million. of in contributions stockpile; of deliveries sales the million, to due branded our XXXX. seeking of Canadian the with declined $XX U.S. generic product to the non-U.S. of $XX launched income $X sales of versus from sales customers, key against prior and of profitability sales of adjusted nasal million, year, anthrax December quarter reflecting year notable AVXXXX of higher ACAMXXXX national in vaccine of well higher NARCAN million protect timing as prior interest to measures sales and than naloxone government as Sandoz, public licensed the solid of authorized to comprised customers, $XX which unit to threat product million, smallpox; strong U.S.
modification-related driven private primarily product for with year, reduced in drug of commercial reflects In two in largely pandemic. revenues, also this our U.S. was late Bayview government, year the U.S. work the activities an customers. the our at were we quarter than to response deliveries a our launch significantly saw activities and expected, completion the manufacturing commercial lower sales during the $XX As NARCAN prior sites manufacturing than retail And CDMO to million, other drug public in $XX of BARDA and the and the partnership last decision at result services lower of in support Winnipeg year, CDMO service revenues manufacturing generic quarter. due maintenance to fourth services CDMO Other impact certain million, Offsetting reflects product and which Camden the by higher revenues, as in COVID-XX and significantly year. increase key late in market, the planned substantial of of combined branded to sales site, the initiate was substance decline and the prior the last lease factor lease the factors. decline
of CHIKV costs due development of as and prior candidates associated increase million, professional product a to supporting the higher $XX than corporate the the COVID-XX prior higher was increase offset in X And year in prior reputation. CDMO associated costs to an of $XX the to study. was due Phase decline higher with the primarily expansion the in well expense $XX product than support and both, spend the year, therapeutic quality prior with our support of costs sales defending as by sites, $XX SG&A an of as lower the from greater resulting in activities R&D to of Turning than of period. of services quarter to manufacturing due Camden in the product of sales. due the functions year million, Cost cost expenses, our well operations, than our in marketing higher and operating during million, professional slightly site, at Bayview increased million, costs from business services as the costs year Winnipeg
performance of Turning to additional financial CDMO across information, let’s move to slide XX and business review our key the status metrics. line
customer molecules. existing on our of a business first in from was services. we As of March of for our XX, new we total XX, majority steady business an $XX the continuing new secured count sequential is target demand basis. increase of million this customers quarter as And non-COVID A one on
the Johnson Regarding CDMO backlog, includes this contract. as value is from metric & well understood, Johnson
backlog temporarily on clarity our requirements. we we Given at also until time, guidance, CDMO their suspending of suspension revenue this are CDMO further have
appropriate providing metric will the resume We at time. this
XX. to turn slide please Next,
my assessed have introduced mentioned information for adjusted by services. I reporting we now on I and two opened each performance remarks, based metrics, segment The gross that and margin. segment products is revenue As
Importantly, segment revenue any but customer external excludes intersegment sales, includes revenues.
year of volume The period, product Both impact increases $XXX or or over adjusted of taxes. are other mix. higher intangibles, over prior margin R&D, let’s reporting and and the With product we the including revenues. of reporting the not $XXX quarter product of were any interest -- million sales including reflecting amortization dig million, the Additionally, income increase segment segment revenues the in performance. not our for prior into SG&A, and segment allocations expense, we’re segment that, specifics our gross an first was XX% year
$XX in two, and costs. services for million, decline revenues manufacturing as As with professional period, Bayview adjusted One, in the negative the factors: gross in million, the margin BARDA; services $XX the improvement segment, were modifications; the pause increase and reflecting result and decrease prior year a of completion the revenue arrangement of our three, at activities in a for the facility was three
sheet available I’ll a first $XXX touch to XX, highlights. ended strong on in select $XXX on in with cash cash revolver capacity of slide flow the liquidity Moving quarter and under million. just We position balance million and
position net debt times. net million, remained leverage less $XXX was Our X and than
operating addition, negative and capital cash activities is sustained our both, flow our as while In follows. from the for commitment a perspective, buyback we to investments opportunistic quarter deployment continued
and the shares investment expanded X.X expenditures lines. to And we quarter, capital ongoing $XXX reflecting million have million repurchased November of capabilities last support quarter million diversified Directors X.X $XX First by to our of year. authorization Board in million in repurchase our approximately $XX pursuant products million services first of cost to repurchase and spent capacity of we the million in a Cumulatively, shares. business at approved $XXX
for the some basis. another services of delivered Importantly, on of by the based normalization market activities. to the and please any be slide as solid performance summary and and heightened XXXX, influence we of other product our of the To activity conclude, first segment COVID-XX segment will quarterly rebase in a continue will timing move such continued report In past management, we on and quarter amount our evaluation repurchases to lining turn we conditions comments. of factors, period additional of offset determined XX by
capabilities services continue bullish given business. to remain offering, our the the see potential and opportunity on We long-term CDMO capacity significant for and of our
business. capital XXXX we forward we We R&D can maintain our the of the on call keeping the question-and-answer over prepared long-term informed deployment strong remarks. commitment to I’ll my you growth potential Additionally, our so that strategic prudent session. Operator? plans progress the That demonstrate goals. to diversified that start execute as look turn operator completes we while points further and programs proof to now our our continue pursuit to of deliver these in
