Filing Flows › BioMarin Pharmaceutical (BMRN) › Q3 2025
BioMarin Pharmaceutical (BMRN) Q3 2025 earnings results (third quarter 2025)
10-Q filed Oct 28, 2025
BioMarin Pharmaceutical (BMRN) reported revenue of $776M for the third quarter 2025 (Q3 2025), +4% from a year earlier and -6% from the quarter before. Operating margin was -6.0%, net loss $30.7M (4.0% of revenue).
BioMarin Pharmaceutical, Q3 2025: revenue $776M (+4% year over year), operating margin -6.0%, net loss $30.7M, operating cash flow $369M. The chart follows the revenue to costs, profit and cash.
| Q3 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $776M | -6% | +4% |
| Operating profit | −$46.7M | -117% | — |
| Net earnings | −$30.7M | -113% | — |
| Operating cash flow | $369M | +99% | +66% |
| Free cash flow | $340M | +102% | +68% |
What changed
Revenue was $776.1M in Q3 2025, up 4% year over year and down 6% from the previous quarter. VOXZOGO was the largest line at 28% of revenue. VOXZOGO added $28.6M year over year (up 15%), 94% of the total change. ROCTAVIAN declined 56%.
Operating costs exceeded revenue by $46.7M, an operating margin of -6.0%. Total costs grew 30% against revenue growth of 4%. The fastest-growing cost line was Research & development (+121%). The quarter ended with a net loss of $30.7M, after a profit of $240.5M the previous quarter. Non-operating items added $20.4M, -77% of pre-tax earnings, so the bottom line overstates operating performance.
Operating cash flow was $368.7M (up 66% year over year). Non-cash charges added back $18.5M of depreciation and amortization and $49.3M of share-based compensation. Working capital and other items added $331.7M. Capital expenditures of $28.4M left free cash flow of $340.2M.
Questions
What was BioMarin Pharmaceutical's revenue in the third quarter 2025?
BioMarin Pharmaceutical (BMRN) reported revenue of $776M for the third quarter 2025 (Q3 2025), +4% from a year earlier and -6% from the quarter before.
Was BioMarin Pharmaceutical profitable in the third quarter 2025?
Operating loss was $46.7M (-6.0% of revenue) and net loss $30.7M.