Apotex Health swung to a second-quarter loss and reported lower revenue following the expiration of a key cancer-drug license in its debut earnings report as a public company.

The Canadian pharmaceutical and health company on Wednesday posted a net loss of 38.3 million Canadian dollars ($27.5 million), or C$0.19 a share, compared with a profit of C$362.7 million, or C$1.88 a share, in the comparable quarter a year ago.

Adjusted earnings before interest, taxes, depreciation and amortization fell to C$259.3 million from C$567 million.

Revenue fell to C$848 million from C$1.14 billion, but came in ahead of analyst expectations of C$840.8 million.

A year earlier, Apotex generated C$308 million in revenue from generic Revlimid, a high-margin cancer drug licensed under a limited, expiring volume deal.

Excluding the U.S. contribution of generic Revlimid, revenue increased 2%, with strong performance in Canada, where revenue grew 11%, said Chief Executive Jeff Watson. He noted that the company also benefited from first-to-market launches of generic GLP-1s in Canada, including Apo-semaglutide, a generic Ozempic approved in May, as well as Sevmia, a generic Wegovy approved in June.

The release marks Apotex's first earnings report as a company following its C$1.3 billion initial public offering on the Toronto Stock Exchange. On Wednesday, Apotex said that it has put about C$800 million toward debt repayment.

For the full year, Apotex expects revenue to grow in the upper mid-single digits, with adjusted Ebitda margin of 30%.