Filing Flows › ANI Pharmaceuticals (ANIP) › Q4 2025
ANI Pharmaceuticals (ANIP) Q4 2025 earnings results (fourth quarter 2025)
10-K filed Feb 27, 2026
ANI Pharmaceuticals (ANIP) reported revenue of $247M for the fourth quarter 2025 (Q4 2025), +30% from a year earlier and +8% from the quarter before. Operating margin was 14.1%, net earnings $27.5M (11.1% of revenue).
ANI Pharmaceuticals, Q4 2025: revenue $247M (+30% year over year), operating margin 14.1%, net earnings $27.5M, operating cash flow $30.4M. The chart follows the revenue to costs, profit and cash.
| Q4 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $247M | +8% | +30% |
| Operating profit | $34.8M | -4% | — |
| Net earnings | $27.5M | +3% | — |
| Operating cash flow | $30.4M | -31% | +91% |
| Free cash flow | $29.1M | -23% | +116% |
What changed
Revenue was $247.1M in Q4 2025, up 30% year over year and up 8% from the previous quarter. Cortrophin Gel was the largest line at 45% of revenue.
Operating profit was $34.8M, a 14.1% margin (up 16.4 points year over year). Total costs grew 9% against revenue growth of 30%. The fastest-growing cost line was Cost of revenue (+25%). Net earnings were $27.5M. The effective tax rate was 12.7%.
Operating cash flow was $30.4M (up 91% year over year), 110% of net earnings. Non-cash charges added back $22.6M of depreciation and amortization and $9.8M of share-based compensation. Working capital and other items used $29.5M. Capital expenditures of $1.2M left free cash flow of $29.1M.
Questions
What was ANI Pharmaceuticals' revenue in the fourth quarter 2025?
ANI Pharmaceuticals (ANIP) reported revenue of $247M for the fourth quarter 2025 (Q4 2025), +30% from a year earlier and +8% from the quarter before.
Was ANI Pharmaceuticals profitable in the fourth quarter 2025?
Operating profit was $34.8M (14.1% of revenue) and net earnings $27.5M.