Filing Flows › Biogen (BIIB) › Q1 2025
Biogen (BIIB) Q1 2025 earnings results (first quarter 2025)
10-Q filed May 1, 2025
Biogen (BIIB) reported revenue of $2.4B for the first quarter 2025 (Q1 2025), +6% from a year earlier and -1% from the quarter before. Operating margin was 12.8%, net earnings $240M (9.9% of revenue).
Biogen, Q1 2025: revenue $2.4B (+6% year over year), operating margin 12.8%, net earnings $240M, operating cash flow $259M. The chart follows the revenue to costs, profit and cash.
| Q1 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $2.4B | -1% | +6% |
| Operating profit | $311M | +7% | -33% |
| Net earnings | $240M | -10% | -39% |
| Operating cash flow | $259M | -66% | -53% |
| Free cash flow | $222M | — | -56% |
What changed
Revenue was $2.4B in Q1 2025, up 6% year over year and down 1% from the previous quarter. SPINRAZA was the largest line at 17% of revenue. Contract manufacturing revenue added $0.13B year over year (up 85%), 93% of the total change. TYSABRI declined 12%.
Operating profit was $0.31B, a 12.8% margin (down 7.5 points year over year). Operating profit fell $0.15B even though revenue rose $0.14B versus a year earlier, so costs grew faster than sales. Total costs grew 16% against revenue growth of 6%. The fastest-growing cost line was Other operating costs (+89%). Net earnings were $0.24B, down 39% year over year. The effective tax rate was 22.7%.
Operating cash flow was $0.26B (down 53% year over year), 108% of net earnings. Non-cash charges added back $0.18B of depreciation and amortization and $0.08B of share-based compensation. Working capital and other items used $0.25B. After purchases of property, plant and equipment ($0.04B), free cash flow as the company reports it was $0.22B.
Questions
What was Biogen's revenue in the first quarter 2025?
Biogen (BIIB) reported revenue of $2.4B for the first quarter 2025 (Q1 2025), +6% from a year earlier and -1% from the quarter before.
Was Biogen profitable in the first quarter 2025?
Operating profit was $311M (12.8% of revenue) and net earnings $240M.
Source: Biogen 10-Q on SEC EDGAR.