Alvotech (NASDAQ:ALVO) Q3 2024 Earnings Conference Call November 14, 2024 8:00 AM ET
Company Participants
Benedikt Stefansson - Senior Director, Investor Relations and Global Communications
Robert Wessman - Chairman and Chief Executive Officer
Anil Okay - Chief Commercial Officer
Joel Morales - Chief Financial Officer
Ming Li - Chief Strategy Officer
Conference Call Participants
Balaji Prasad - Barclays
Niall Alexander - Deutsche Bank
Carl Byrnes - Northland Capital Markets
Operator
Good day, and thank you for standing by. Welcome to the Alvotech's Third Quarter 2024 Earnings Conference Call. At this time, all participants are in a listen-only mode. After the speakers' presentation, there will be a question-and-answer session. [Operator Instructions]
I would now like to hand the conference over to your first speaker today. Benedikt Stefansson. Please go ahead.
Benedikt Stefansson
Thank you, and good morning or afternoon to everyone joining us on this call today. Yesterday evening, the company issued a press release that can be found on our website, www.alvotech.com.
The release reports financial results for the first nine months of 2024 and provides a business update. Additionally, presentation slides that cover our call today have been posted on our investor website. You'll find all materials posted for the first nine months 2024 earnings call under News and Events in the Events and Presentations section on investors.alvotec.com.
Our presentation materials and some of our statements that we make today may include forward-looking statements. These statements do not ensure future performance and are subject to risks and uncertainties that are outlined in company filings with the Securities and Exchange Commission. These risks and uncertainties could cause actual results to differ materially from forward-looking statements that are made.
With me on today's call are Robert Wessman, Chairman and Chief Executive Officer of Alvotech; Anil Okay, Chief Commercial Officer; Joel Morales, Chief Financial Officer; and Ming Li, Chief Strategy Officer.
With that, I would like to turn the call over to Robert Wessman. Robert?
Robert Wessman
Thank you, Benedict, and greetings to everyone joining us on the call today.
We are very pleased with the results on the quarter and the first nine months of 2024 and as well as the continued progress we are seeing in the business overall. Total revenues for the first nine months of 2024 increased nearly 9 times when we compared to the same period in 2023. Revenues from the products for the first nine months rose to $128 million, which was driven by an increase in product revenues in the third quarter as compared to the second quarter in 2024.