Filing Flows › Corcept Therapeutics (CORT) › Q1 2025
Corcept Therapeutics (CORT) Q1 2025 earnings results (first quarter 2025)
10-Q filed May 5, 2025
Corcept Therapeutics (CORT) reported revenue of $157M for the first quarter 2025 (Q1 2025), +7% from a year earlier and -14% from the quarter before. Operating margin was 2.2%, net earnings $20.5M (13.1% of revenue).
Corcept Therapeutics, Q1 2025: revenue $157M (+7% year over year), operating margin 2.2%, net earnings $20.5M, operating cash flow $5.1M. The chart follows the revenue to costs, profit and cash.
| Q1 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $157M | -14% | +7% |
| Operating profit | $3.4M | -86% | -88% |
| Net earnings | $20.5M | -33% | -26% |
| Operating cash flow | $5.1M | -91% | -78% |
| Free cash flow | $5.0M | -92% | -79% |
What changed
Revenue was $157.2M in Q1 2025, up 7% year over year and down 14% from the previous quarter.
Operating profit was $3.4M, a 2.2% margin (down 17.9 points year over year). Operating profit fell $26.1M even though revenue rose $10.4M versus a year earlier, so costs grew faster than sales. Total costs grew 31% against revenue growth of 7%. The fastest-growing cost line was SG&A (+61%). Net earnings were $20.5M, down 26% year over year. The tax line was a benefit of $10.9M on pre-tax earnings of $9.6M. Non-operating items added $6.2M, 64% of pre-tax earnings, so the bottom line overstates operating performance.
Operating cash flow was $5.1M (down 78% year over year), 25% of net earnings. Non-cash charges added back $285K of depreciation and amortization and $21.8M of share-based compensation. Working capital and other items used $37.5M. Capital expenditures of $104K left free cash flow of $5.0M.
Questions
What was Corcept Therapeutics' revenue in the first quarter 2025?
Corcept Therapeutics (CORT) reported revenue of $157M for the first quarter 2025 (Q1 2025), +7% from a year earlier and -14% from the quarter before.
Was Corcept Therapeutics profitable in the first quarter 2025?
Operating profit was $3.4M (2.2% of revenue) and net earnings $20.5M.