Filing Flows › Corcept Therapeutics (CORT) › Q3 2025
Corcept Therapeutics (CORT) Q3 2025 earnings results (third quarter 2025)
10-Q filed Nov 4, 2025
Corcept Therapeutics (CORT) reported revenue of $208M for the third quarter 2025 (Q3 2025), +14% from a year earlier and +7% from the quarter before. Operating margin was 4.9%, net earnings $19.7M (9.5% of revenue).
Corcept Therapeutics, Q3 2025: revenue $208M (+14% year over year), operating margin 4.9%, net earnings $19.7M, operating cash flow $54.5M. The chart follows the revenue to costs, profit and cash.
| Q3 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $208M | +7% | +14% |
| Operating profit | $10.2M | -62% | -78% |
| Net earnings | $19.7M | -44% | -58% |
| Operating cash flow | $54.5M | +24% | -26% |
What changed
Revenue was $207.6M in Q3 2025, up 14% year over year and up 7% from the previous quarter.
Operating profit was $10.2M, a 4.9% margin (down 20.6 points year over year). Operating profit fell $36.4M even though revenue rose $25.1M versus a year earlier, so costs grew faster than sales. Total costs grew 45% against revenue growth of 14%. The fastest-growing cost line was SG&A (+68%). Net earnings were $19.7M, down 58% year over year. The effective tax rate was -29.0%. Non-operating items added $5.0M, 33% of pre-tax earnings, so the bottom line overstates operating performance.
Operating cash flow was $54.5M (down 26% year over year), 277% of net earnings. Non-cash charges added back $289K of depreciation and amortization and $22.9M of share-based compensation. Working capital and other items added $11.6M.
Questions
What was Corcept Therapeutics' revenue in the third quarter 2025?
Corcept Therapeutics (CORT) reported revenue of $208M for the third quarter 2025 (Q3 2025), +14% from a year earlier and +7% from the quarter before.
Was Corcept Therapeutics profitable in the third quarter 2025?
Operating profit was $10.2M (4.9% of revenue) and net earnings $19.7M.