Filing Flows › ANI Pharmaceuticals (ANIP) › Q2 2025
ANI Pharmaceuticals (ANIP) Q2 2025 earnings results (second quarter 2025)
10-Q filed Aug 8, 2025
ANI Pharmaceuticals (ANIP) reported revenue of $211M for the second quarter 2025 (Q2 2025), +53% from a year earlier and +7% from the quarter before. Operating margin was 6.6%, net earnings $8.5M (4.0% of revenue).
ANI Pharmaceuticals, Q2 2025: revenue $211M (+53% year over year), operating margin 6.6%, net earnings $8.5M, operating cash flow $75.8M. The chart follows the revenue to costs, profit and cash.
| Q2 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $211M | +7% | +53% |
| Operating profit | $13.9M | -47% | +169% |
| Net earnings | $8.5M | -45% | — |
| Operating cash flow | $75.8M | +117% | +335% |
| Free cash flow | $71.8M | +121% | +454% |
What changed
Revenue was $211.4M in Q2 2025, up 53% year over year and up 7% from the previous quarter. Generic pharmaceutical products was the largest line at 43% of revenue. Cortrophin Gel added $32.5M year over year (up 66%), 44% of the total change. Royalties and other pharmaceutical services declined 19%.
Operating profit was $13.9M, a 6.6% margin (up 2.8 points year over year). Of the extra revenue versus a year earlier, 12% reached operating profit, above the 4% margin then. Total costs grew 49% against revenue growth of 53%. The fastest-growing cost line was Research & development (+127%). Net earnings were $8.5M. The effective tax rate was 18.8%.
Operating cash flow was $75.8M (up 335% year over year), 887% of net earnings. Non-cash charges added back $23.3M of depreciation and amortization and $9.6M of share-based compensation. Working capital and other items added $34.4M. Capital expenditures of $4.0M left free cash flow of $71.8M.
Questions
What was ANI Pharmaceuticals' revenue in the second quarter 2025?
ANI Pharmaceuticals (ANIP) reported revenue of $211M for the second quarter 2025 (Q2 2025), +53% from a year earlier and +7% from the quarter before.
Was ANI Pharmaceuticals profitable in the second quarter 2025?
Operating profit was $13.9M (6.6% of revenue) and net earnings $8.5M.