Filing Flows › Elanco Animal Health (ELAN) › Q4 2025
Elanco Animal Health (ELAN) Q4 2025 earnings results (fourth quarter 2025)
10-K filed Feb 24, 2026
Elanco Animal Health (ELAN) reported revenue of $1.1B for the fourth quarter 2025 (Q4 2025), +12% from a year earlier and +0.6% from the quarter before. Operating margin was -22.6%, net loss $276M (24.1% of revenue).
Elanco Animal Health, Q4 2025: revenue $1.1B (+12% year over year), operating margin -22.6%, net loss $276M, operating cash flow $108M. The chart follows the revenue to costs, profit and cash.
| Q4 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $1.1B | +0.6% | +12% |
| Operating profit | −$259M | — | — |
| Net earnings | −$276M | — | — |
| Operating cash flow | $108M | -51% | -39% |
| Free cash flow | $46.0M | -64% | -65% |
What changed
Revenue was $1.1B in Q4 2025, up 12% year over year and up 1% from the previous quarter. Pet Health was the largest line at 43% of revenue.
Gross margin was 51.5%, up 0.6 points from a year earlier. Operating costs exceeded revenue by $0.26B, an operating margin of -22.6%. Operating expenses grew 49% against revenue growth of 12%. The fastest-growing cost line was Other operating costs (+121%). The quarter ended with a net loss of $0.28B, wider than the previous quarter's $0.03B loss.
Operating cash flow was $0.11B (down 39% year over year). Non-cash charges added back $0.17B of depreciation and amortization and $0.02B of share-based compensation. Working capital and other items added $0.19B. Capital expenditures of $0.06B left free cash flow of $0.05B.
Questions
What was Elanco Animal Health's revenue in the fourth quarter 2025?
Elanco Animal Health (ELAN) reported revenue of $1.1B for the fourth quarter 2025 (Q4 2025), +12% from a year earlier and +0.6% from the quarter before.
Was Elanco Animal Health profitable in the fourth quarter 2025?
Operating loss was $259M (-22.6% of revenue) and net loss $276M.