There are three separate factors which impact the first quarter.
The first is the pulling forward of orders into Q4 because of stocking up prior to the January holidays.
The second is seasonal closure of various CEOs.
The third is commencement of increased rebates from January 1 each year, leading to a small drop in price.
Catherine Owen Adams joined Acadia as CEO at the very end of Q3 2024 and Tom Garner in December. To be fair, I think you need to allow the new CEO the first 3 months to familiarise herself with the company, reset strategy etc.
The new CEO decided by late Q4 to boost the field force for DayBue by 30%. The hiring blitz commenced at the beginning of Q1 2025. The new CEO made it clear that, once recruited, it would take a number of months to embed these new reps, hence growth through this initiative was not expected to be seen until the second half of this year.
So really, the factors that negatively impact DayBue sales in Q1 are not something that can be controlled by the Acadia CEO; nor was the new CEO in a position to increase penetration rates as early as Q4 last year.
NEU Price at posting:
$11.34 Sentiment: Hold Disclosure: Held
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