Filing Flows › Fennec Pharmaceuticals (FENC) › Q4 2025
Fennec Pharmaceuticals (FENC) Q4 2025 earnings results (fourth quarter 2025)
10-K filed Mar 27, 2026
Fennec Pharmaceuticals (FENC) reported revenue of $13.8M for the fourth quarter 2025 (Q4 2025), +74% from a year earlier and +11% from the quarter before. Operating margin was -18.5%, net loss $4.8M (34.7% of revenue).
Fennec Pharmaceuticals, Q4 2025: revenue $13.8M (+74% year over year), operating margin -18.5%, net loss $4.8M, operating cash flow −$6.0M. The chart follows the revenue to costs, profit and cash.
| Q4 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $13.8M | +11% | +74% |
| Operating profit | −$2.6M | — | — |
| Net earnings | −$4.8M | — | — |
| Operating cash flow | −$6.0M | -499% | — |
What changed
Revenue was $13.8M in Q4 2025, up 74% year over year and up 11% from the previous quarter.
Operating costs exceeded revenue by $2.6M, an operating margin of -18.5%. Total costs grew 84% against revenue growth of 74%. The fastest-growing cost line was Other operating costs (+164%). The quarter ended with a net loss of $4.8M, wider than the previous quarter's $637K loss.
Operating cash flow was −$6.0M. Non-cash charges added back $2.5M of share-based compensation. Working capital and other items used $3.7M.
Questions
What was Fennec Pharmaceuticals' revenue in the fourth quarter 2025?
Fennec Pharmaceuticals (FENC) reported revenue of $13.8M for the fourth quarter 2025 (Q4 2025), +74% from a year earlier and +11% from the quarter before.
Was Fennec Pharmaceuticals profitable in the fourth quarter 2025?
Operating loss was $2.6M (-18.5% of revenue) and net loss $4.8M.