Filing Flows › Axsome Therapeutics (AXSM) › Q2 2025
Axsome Therapeutics (AXSM) Q2 2025 earnings results (second quarter 2025)
10-Q filed Aug 4, 2025
Axsome Therapeutics (AXSM) reported revenue of $150M for the second quarter 2025 (Q2 2025), +72% from a year earlier and +24% from the quarter before. Operating margin was -24.5%, net loss $48.0M (32.0% of revenue).
Axsome Therapeutics, Q2 2025: revenue $150M (+72% year over year), operating margin -24.5%, net loss $48.0M, operating cash flow −$32.4M. The chart follows the revenue to costs, profit and cash.
| Q2 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $150M | +24% | +72% |
| Operating profit | −$36.7M | — | — |
| Net earnings | −$48.0M | — | — |
| Operating cash flow | −$32.4M | — | — |
What changed
Revenue was $150.0M in Q2 2025, up 72% year over year and up 24% from the previous quarter. Product was the largest line at 99% of revenue. Product added $62.4M year over year (up 72%), 99% of the total change.
Operating costs exceeded revenue by $36.7M, an operating margin of -24.5%. Total costs grew 13% against revenue growth of 72%. The quarter ended with a net loss of $48.0M, narrower than the previous quarter's $59.4M loss.
Operating cash flow was −$32.4M. Non-cash charges added back $1.7M of depreciation and amortization and $24.6M of share-based compensation. Working capital and other items used $10.8M. Capital expenditures of $13K exceeded it, leaving free cash flow of −$32.4M.
Questions
What was Axsome Therapeutics' revenue in the second quarter 2025?
Axsome Therapeutics (AXSM) reported revenue of $150M for the second quarter 2025 (Q2 2025), +72% from a year earlier and +24% from the quarter before.
Was Axsome Therapeutics profitable in the second quarter 2025?
Operating loss was $36.7M (-24.5% of revenue) and net loss $48.0M.