Filing Flows › BioMarin Pharmaceutical (BMRN) › Q4 2025
BioMarin Pharmaceutical (BMRN) Q4 2025 earnings results (fourth quarter 2025)
10-K filed Feb 26, 2026
BioMarin Pharmaceutical (BMRN) reported revenue of $875M for the fourth quarter 2025 (Q4 2025), +17% from a year earlier and +13% from the quarter before. Operating margin was -5.1%, net loss $46.6M (5.3% of revenue).
BioMarin Pharmaceutical, Q4 2025: revenue $875M (+17% year over year), operating margin -5.1%, net loss $46.6M, operating cash flow $99.6M. The chart follows the revenue to costs, profit and cash.
| Q4 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $875M | +13% | +17% |
| Operating profit | −$44.6M | — | — |
| Net earnings | −$46.6M | — | — |
| Operating cash flow | $99.6M | -73% | -46% |
| Free cash flow | $58.9M | -83% | -65% |
What changed
Revenue was $874.6M in Q4 2025, up 17% year over year and up 13% from the previous quarter. VOXZOGO was the largest line at 31% of revenue.
Operating costs exceeded revenue by $44.6M, an operating margin of -5.1%. Total costs grew 57% against revenue growth of 17%. The fastest-growing cost line was Cost of revenue (+103%). The quarter ended with a net loss of $46.6M, wider than the previous quarter's $30.7M loss. Non-operating items added $17.5M, -64% of pre-tax earnings, so the bottom line overstates operating performance.
Operating cash flow was $99.6M (down 46% year over year). Non-cash charges added back $20.4M of depreciation and amortization and $46.9M of share-based compensation. Working capital and other items added $78.9M. Capital expenditures of $40.7M left free cash flow of $58.9M.
Questions
What was BioMarin Pharmaceutical's revenue in the fourth quarter 2025?
BioMarin Pharmaceutical (BMRN) reported revenue of $875M for the fourth quarter 2025 (Q4 2025), +17% from a year earlier and +13% from the quarter before.
Was BioMarin Pharmaceutical profitable in the fourth quarter 2025?
Operating loss was $44.6M (-5.1% of revenue) and net loss $46.6M.