Filing Flows › Eton Pharmaceuticals (ETON) › Q2 2025
Eton Pharmaceuticals (ETON) Q2 2025 earnings results (second quarter 2025)
10-Q filed Aug 7, 2025
Eton Pharmaceuticals (ETON) reported revenue of $18.9M for the second quarter 2025 (Q2 2025), +109% from a year earlier and +10% from the quarter before. Operating margin was -7.8%, net loss $2.6M (13.7% of revenue).
Eton Pharmaceuticals, Q2 2025: revenue $18.9M (+109% year over year), operating margin -7.8%, net loss $2.6M, operating cash flow $8.0M. The chart follows the revenue to costs, profit and cash.
| Q2 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $18.9M | +10% | +109% |
| Operating profit | −$1.5M | — | — |
| Net earnings | −$2.6M | — | — |
| Operating cash flow | $8.0M | +281% | +534% |
What changed
Revenue was $18.9M in Q2 2025, up 109% year over year and up 10% from the previous quarter.
Gross margin was 63.0%, up 1.0 points from a year earlier. Operating costs exceeded revenue by $1.5M, an operating margin of -7.8%. Operating expenses grew 57% against revenue growth of 109%. The fastest-growing cost line was General & admin (+73%). The quarter ended with a net loss of $2.6M, wider than the previous quarter's $1.6M loss.
Operating cash flow was $8.0M (up 534% year over year). Non-cash charges added back $1.0M of depreciation and amortization and $2.1M of share-based compensation. Working capital and other items added $7.4M.
Questions
What was Eton Pharmaceuticals' revenue in the second quarter 2025?
Eton Pharmaceuticals (ETON) reported revenue of $18.9M for the second quarter 2025 (Q2 2025), +109% from a year earlier and +10% from the quarter before.
Was Eton Pharmaceuticals profitable in the second quarter 2025?
Operating loss was $1.5M (-7.8% of revenue) and net loss $2.6M.