Filing Flows › Fortress Biotech (FBIO) › Q4 2025
Fortress Biotech (FBIO) Q4 2025 earnings results (fourth quarter 2025)
10-K filed Mar 31, 2026
Fortress Biotech (FBIO) reported revenue of $16.1M for the fourth quarter 2025 (Q4 2025), +6% from a year earlier and -9% from the quarter before. Operating margin was -29.8%, net loss $5.4M (33.6% of revenue).
Fortress Biotech, Q4 2025: revenue $16.1M (+6% year over year), operating margin -29.8%, net loss $5.4M, operating cash flow −$12.5M. The chart follows the revenue to costs, profit and cash.
| Q4 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $16.1M | -9% | +6% |
| Operating profit | −$4.8M | — | — |
| Net earnings | −$5.4M | -161% | — |
| Operating cash flow | −$12.5M | — | — |
What changed
Revenue was $16.1M in Q4 2025, up 6% year over year and down 9% from the previous quarter.
Operating costs exceeded revenue by $4.8M, an operating margin of -29.8%. Total costs fell 46% while revenue rose 6%. The quarter ended with a net loss of $5.4M, after a profit of $8.8M the previous quarter. Minority interests bore $1.5M of it: to shareholders the quarter was a loss of $3.9M.
Operating cash flow was −$12.5M. Non-cash charges added back $1.2M of depreciation and amortization and $2.5M of share-based compensation. Working capital and other items used $10.8M.
Questions
What was Fortress Biotech's revenue in the fourth quarter 2025?
Fortress Biotech (FBIO) reported revenue of $16.1M for the fourth quarter 2025 (Q4 2025), +6% from a year earlier and -9% from the quarter before.
Was Fortress Biotech profitable in the fourth quarter 2025?
Operating loss was $4.8M (-29.8% of revenue) and net loss $5.4M.
Source: Fortress Biotech 10-K on SEC EDGAR.