Filing Flows › Emmaus Life Sciences (EMMA) › Q3 2025
Emmaus Life Sciences (EMMA) Q3 2025 earnings results (third quarter 2025)
10-Q filed Nov 14, 2025
Emmaus Life Sciences (EMMA) reported revenue of $3.4M for the third quarter 2025 (Q3 2025), -38% from a year earlier and +20% from the quarter before. Operating margin was 20.6%, net loss $2.1M (61.5% of revenue).
Emmaus Life Sciences, Q3 2025: revenue $3.4M (-38% year over year), operating margin 20.6%, net loss $2.1M, operating cash flow $409K. The chart follows the revenue to costs, profit and cash.
| Q3 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $3.4M | +20% | -38% |
| Operating profit | $695K | — | — |
| Net earnings | −$2.1M | — | — |
| Operating cash flow | $409K | — | +176% |
What changed
Revenue was $3.4M in Q3 2025, down 38% year over year and up 20% from the previous quarter. Endari was the largest line at 63% of revenue. Endari International lost $1.3M year over year (down 50%), 60% of the total change.
Gross margin was 92.7%, down 0.1 points from a year earlier. Operating profit was $695K, a 20.6% margin (up 5.6 points year over year). Operating expenses fell 43% while revenue fell 38%. The quarter ended with a net loss of $2.1M, wider than the previous quarter's $1.1M loss. Net interest and other expense of $2.2M was the main reason.
Operating cash flow was $409K (up 176% year over year). Non-cash charges added back $15K of depreciation and $9K of share-based compensation. Working capital and other items added $2.5M.
Questions
What was Emmaus Life Sciences' revenue in the third quarter 2025?
Emmaus Life Sciences (EMMA) reported revenue of $3.4M for the third quarter 2025 (Q3 2025), -38% from a year earlier and +20% from the quarter before.
Was Emmaus Life Sciences profitable in the third quarter 2025?
Operating profit was $695K (20.6% of revenue) and net loss $2.1M.