Filing Flows › Eton Pharmaceuticals (ETON) › Q1 2025
Eton Pharmaceuticals (ETON) Q1 2025 earnings results (first quarter 2025)
10-Q filed May 13, 2025
Eton Pharmaceuticals (ETON) reported revenue of $17.3M for the first quarter 2025 (Q1 2025), +117% from a year earlier and +48% from the quarter before. Operating margin was -2.7%, net loss $1.6M (9.1% of revenue).
Eton Pharmaceuticals, Q1 2025: revenue $17.3M (+117% year over year), operating margin -2.7%, net loss $1.6M, operating cash flow $2.1M. The chart follows the revenue to costs, profit and cash.
| Q1 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $17.3M | +48% | +117% |
| Operating profit | −$470K | — | — |
| Net earnings | −$1.6M | — | — |
| Operating cash flow | $2.1M | — | — |
What changed
Revenue was $17.3M in Q1 2025, up 117% year over year and up 48% from the previous quarter. Product Sales and Royalties was the largest line at 81% of revenue. Product Sales and Royalties added $6.0M year over year (up 76%), 65% of the total change.
Gross margin was 57.1%, down 5.8 points from a year earlier. Operating costs exceeded revenue by $470K, an operating margin of -2.7%. Operating expenses grew 78% against revenue growth of 117%. The fastest-growing cost line was Research & development (+78%). The quarter ended with a net loss of $1.6M, wider than the previous quarter's $598K loss. Net interest and other expense of $1.0M was the main reason.
Operating cash flow was $2.1M. Non-cash charges added back $1.0M of depreciation and amortization and $1.2M of share-based compensation. Working capital and other items added $1.4M.
Questions
What was Eton Pharmaceuticals' revenue in the first quarter 2025?
Eton Pharmaceuticals (ETON) reported revenue of $17.3M for the first quarter 2025 (Q1 2025), +117% from a year earlier and +48% from the quarter before.
Was Eton Pharmaceuticals profitable in the first quarter 2025?
Operating loss was $470K (-2.7% of revenue) and net loss $1.6M.