Assertio Holdings, Inc. (NASDAQ:ASRT) Q4 2022 Earnings Conference Call March 8, 2023 4:30 PM ET
Company Participants
Matt Kreps - Darrow Associates, Investor Relations
Dan Peisert - President & Chief Executive Officer
Paul Schwichtenberg - Senior Vice President & Chief Financial Officer
Conference Call Participants
Thomas Flaten - Lake Street
Scott Henry - ROTH Capital
Hamed Khorsand - BWS Financial
Mitra Ramgopal - Sidoti
Operator
Good afternoon and welcome to the Assertio Holdings' Fourth Quarter and Full Year 2022 Financial Results Conference Call. All participants are now in listen-only mode. After today's presentation, there will be an opportunity to ask questions. [Operator Instructions] Please note this event is being recorded.
I would now like to turn the conference over to Matt Kreps from Darrow Associates Investor Relations for Assertio. Please go ahead.
Matt Kreps
Good afternoon and thank you all for joining us today to discuss Assertio's fourth quarter and full year 2020 financials. The news release covering our earnings for this period is now available on the Investor page of our website at investor.soutiotx.com. I would encourage you to review the release and the accompanying presentation as it is important to today's discussion.
With me today are Dan Peisert, President and CEO; and Paul Schwichtenberg, Senior Vice President and CFO. Dan will open the remarks and provide an overview of the business followed by Paul who will review our financials. After that, we will open the call for your questions.
During this call, management will make projections and other forward-looking statements regarding our future performance. Such for forward-looking statements are not guarantees of future performance and involve risks and uncertainties including those noted in this morning's press release as well as the Assertio's filings with the SEC. These and other risks are more fully described in the Risk Factors section and other sections of our annual report on Form 10-K.
Our actual results may differ materially from those projected in the forward-looking statements and Assertio specifically disclaims any intent or obligation to update these forward-looking statements except as required by law.
With that I'll now turn the call over to Dan.
Dan Peisert
Thank you, Matt. Welcome to everyone joining us this afternoon. Last quarter I had remarked that the actions we had taken in the third quarter marked to pivot from restructuring towards growth. Now, that we've reported our fourth quarter, that growth is self-evident.
Net product sales increased 55% versus the prior year. Adjusted EBITDA increased 87%. Our adjusted EBITDA margins were 66% versus 53% last year. Adjusted EPS increased 52% and our cash flow from operations was up nearly 6.5-fold to $26.7 million. In fact we generated more operating cash flow this quarter than the business generated in net product sales in three of the four quarters of 2021.