Filing Flows › Amphastar Pharmaceuticals (AMPH) › Q3 2025
Amphastar Pharmaceuticals (AMPH) Q3 2025 earnings results (third quarter 2025)
10-Q filed Nov 6, 2025
Amphastar Pharmaceuticals (AMPH) reported revenue of $192M for the third quarter 2025 (Q3 2025), +0.3% from a year earlier and +10% from the quarter before. Operating margin was 13.2%, net earnings $17.4M (9.0% of revenue).
Amphastar Pharmaceuticals, Q3 2025: revenue $192M (+0.3% year over year), operating margin 13.2%, net earnings $17.4M, operating cash flow $52.6M. The chart follows the revenue to costs, profit and cash.
| Q3 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $192M | +10% | +0.3% |
| Gross profit | $98.6M | +14% | -3% |
| Operating profit | $25.3M | -40% | -56% |
| Net earnings | $17.4M | -44% | -57% |
| Operating cash flow | $52.6M | +48% | -12% |
| Free cash flow | $47.2M | +89% | +2% |
What changed
Revenue was $191.8M in Q3 2025, roughly flat year over year and up 10% from the previous quarter.
Gross margin was 51.4%, down 1.9 points from a year earlier. Operating profit was $25.3M, a 13.2% margin (down 16.6 points year over year). Operating profit fell $31.7M even though revenue rose $626K versus a year earlier, so costs grew faster than sales. Operating expenses grew 63% against flat revenue. The fastest-growing cost line was General & admin (+166%). Net earnings were $17.4M, down 57% year over year. The effective tax rate was 19.4%.
Operating cash flow was $52.6M (down 12% year over year), 303% of net earnings. Non-cash charges added back $14.1M of depreciation and amortization and $6.3M of share-based compensation. Working capital and other items added $14.8M. Capital expenditures of $5.3M left free cash flow of $47.2M.
Questions
What was Amphastar Pharmaceuticals' revenue in the third quarter 2025?
Amphastar Pharmaceuticals (AMPH) reported revenue of $192M for the third quarter 2025 (Q3 2025), +0.3% from a year earlier and +10% from the quarter before.
Was Amphastar Pharmaceuticals profitable in the third quarter 2025?
Operating profit was $25.3M (13.2% of revenue) and net earnings $17.4M.