Filing Flows › Agenus (AGEN) › Q2 2025
Agenus (AGEN) Q2 2025 earnings results (second quarter 2025)
10-Q filed Aug 11, 2025
Agenus (AGEN) reported revenue of $25.7M for the second quarter 2025 (Q2 2025), +9% from a year earlier and +7% from the quarter before. Operating margin was -65.0%, net loss $30.0M (116.8% of revenue).
Agenus, Q2 2025: revenue $25.7M (+9% year over year), operating margin -65.0%, net loss $30.0M, operating cash flow −$20.2M. The chart follows the revenue to costs, profit and cash.
| Q2 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $25.7M | +7% | +9% |
| Operating profit | −$16.7M | — | — |
| Net earnings | −$30.0M | — | — |
| Operating cash flow | −$20.2M | — | — |
What changed
Revenue was $25.7M in Q2 2025, up 9% year over year and up 7% from the previous quarter. Non Cash Royalty Revenue Related to the Sale of Future Royalties was the largest line at 97% of revenue. Non Cash Royalty Revenue Related to the Sale of Future Royalties added $2.2M year over year (up 10%), 103% of the total change. Revenue declined 20%.
Operating costs exceeded revenue by $16.7M, an operating margin of -65.0%. Total costs fell 21% while revenue rose 9%. The fastest-growing cost line was Cost of revenue (+111%). The quarter ended with a net loss of $30.0M, wider than the previous quarter's $26.4M loss. Minority interests bore $2.0M of it: to shareholders the quarter was a loss of $28.0M.
Operating cash flow was −$20.2M. Non-cash charges added back $3.2M of depreciation and amortization and $3.6M of share-based compensation. Working capital and other items added $3.0M. Capital expenditures of $1K exceeded it, leaving free cash flow of −$20.2M.
Questions
What was Agenus' revenue in the second quarter 2025?
Agenus (AGEN) reported revenue of $25.7M for the second quarter 2025 (Q2 2025), +9% from a year earlier and +7% from the quarter before.
Was Agenus profitable in the second quarter 2025?
Operating loss was $16.7M (-65.0% of revenue) and net loss $30.0M.
Source: Agenus 10-Q on SEC EDGAR.