Filing Flows › Fortress Biotech (FBIO) › Q2 2025
Fortress Biotech (FBIO) Q2 2025 earnings results (second quarter 2025)
10-Q filed Aug 14, 2025
Fortress Biotech (FBIO) reported revenue of $16.4M for the second quarter 2025 (Q2 2025), +10% from a year earlier and +25% from the quarter before. Operating margin was -222.2%, net loss $11.7M (71.0% of revenue).
Fortress Biotech, Q2 2025: revenue $16.4M (+10% year over year), operating margin -222.2%, net loss $11.7M, operating cash flow −$27.6M. The chart follows the revenue to costs, profit and cash.
| Q2 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $16.4M | +25% | +10% |
| Operating profit | −$36.5M | — | — |
| Net earnings | −$11.7M | — | — |
| Operating cash flow | −$27.6M | — | — |
What changed
Revenue was $16.4M in Q2 2025, up 10% year over year and up 25% from the previous quarter. Journey was the largest line at 91% of revenue. Journey added $154K year over year (up 1%), 10% of the total change.
Operating costs exceeded revenue by $36.5M, an operating margin of -222.2%. Total costs grew 24% against revenue growth of 10%. The fastest-growing cost line was SG&A (+86%). The quarter ended with a net loss of $11.7M, narrower than the previous quarter's $24.7M loss. Minority interests bore $27.1M of it: to shareholders the quarter was a profit of $15.5M. Non-operating items added $24.8M, -213% of pre-tax earnings, so the bottom line overstates operating performance.
Operating cash flow was −$27.6M. Non-cash charges added back $1.2M of depreciation and amortization and $16.8M of share-based compensation. Working capital and other items used $33.9M.
Questions
What was Fortress Biotech's revenue in the second quarter 2025?
Fortress Biotech (FBIO) reported revenue of $16.4M for the second quarter 2025 (Q2 2025), +10% from a year earlier and +25% from the quarter before.
Was Fortress Biotech profitable in the second quarter 2025?
Operating loss was $36.5M (-222.2% of revenue) and net loss $11.7M.
Source: Fortress Biotech 10-Q on SEC EDGAR.