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Altimmune (ALT) earnings and revenue breakdown
Latest: Q4 2025 · 10-K filed Mar 6, 2026 · Altimmune (ALT) Q4 2025 earnings results →
Q4 2025 Revenue up 420% year over year to $26K
Altimmune made $26K in Q4 2025 (+420% Y/Y). Operating margin n/m, net loss $27.4M. See where every dollar goes — costs, profit and cash — as a Sankey from the 10-K filed Mar 6, 2026.
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What changed this quarter
Revenue was $26K in Q4 2025, up 420% year over year and up 420% from the previous quarter.
Operating costs exceeded revenue by $28.9M, an operating margin of -111126.9%. Total costs grew 16% against revenue growth of 420%. The fastest-growing cost line was General & admin (+106%). The quarter ended with a net loss of $27.4M, wider than the previous quarter's $19.0M loss.
Operating cash flow was −$19.4M. Non-cash charges added back $26K of depreciation and $4.9M of share-based compensation. Working capital and other items added $2.9M. Capital expenditures of $1K exceeded it, leaving free cash flow of −$19.4M.
Quarterly history
| Quarter | Form | Filed | Revenue | Y/Y | Op. margin | Net earnings | Op. cash flow |
|---|---|---|---|---|---|---|---|
| Q4 2025 | 10-K | Mar 6, 2026 | $26K | +420% | n/m | −$27.4M | −$19.4M |
| Q3 2025 | 10-Q | Nov 6, 2025 | $5K | 0% | n/m | −$19.0M | −$11.9M |
| Q2 2025 | 10-Q | Aug 12, 2025 | $5K | 0% | n/m | −$22.1M | −$19.4M |
| Q1 2025 | 10-Q | May 13, 2025 | $5K | 0% | n/m | −$19.6M | −$16.8M |
| Q4 2024 | 10-K | Feb 27, 2025 | $5K | -86% | n/m | −$23.2M | −$18.3M |
Charts
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About Altimmune
Altimmune, Inc. is a late clinical-stage biopharmaceutical company developing novel therapies for serious liver diseases. Our lead product candidate, pemvidutide (formerly known as ALT-801), is a balanced 1:1 glucagon/GLP-1 dual receptor agonist in development for the treatment of metabolic dysfunction-associated steatohepatitis (“MASH”), alcohol use disorder (“AUD”) and alcohol-associated liver disease (“ALD”). We may also pursue additional indications for pemvidutide that leverage its differentiated clinical profile. Except where the context indicates otherwise, references to “we,” “us,” “our,” “Altimmune”, or the “Company” refer to the company and its subsidiaries.
In its own words, from its 10-K, filed Mar 6, 2026.
Altimmune against its Pharmaceutical Preparations peers
The largest companies of the same SEC industry, each at its latest quarter. Revenue growth: +420% against the peers' median +10%.
| Company | Quarter | Revenue | Y/Y | Op. margin |
|---|---|---|---|---|
| ALT Altimmune | Q4 2025 | $26K | +420% | n/m |
| JNJ Johnson & Johnson | Q3 2026 | $25.4B | +6% | 0.1% |
| LLY ELI Lilly | Q3 2026 | $24.4B | +39% | 34.5% |
| MRK Merck | Q3 2026 | $18.1B | +5% | 30.7% |
| ABBV AbbVie | Q3 2026 | $17.4B | +10% | 36.0% |
| PFE Pfizer | Q3 2026 | $16.6B | -0.4% | 20.4% |
| BMY Bristol Myers Squibb | Q3 2026 | $13.1B | +7% | 19.4% |
| ABT Abbott Laboratories | Q3 2026 | $13.0B | +14% | 10.4% |
| REGN Regeneron Pharmaceuticals | Q3 2026 | $5.1B | +36% | 40.0% |
Source: Altimmune 10-K on SEC EDGAR · CIK 1326190 · Pharmaceutical Preparations
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History
Every quarter: Q4 2025 results · Q3 2025 results · Q2 2025 results · Q1 2025 results · Q4 2024 results