Filing Flows › Keros Therapeutics (KROS) › Q2 2025
Keros Therapeutics (KROS) Q2 2025 earnings results (second quarter 2025)
10-Q filed Aug 6, 2025
Keros Therapeutics (KROS) reported revenue of $18.2M for the second quarter 2025 (Q2 2025), up 491-fold from a year earlier and -91% from the quarter before. Operating margin was -219.2%, net loss $30.7M (169.0% of revenue).
Keros Therapeutics, Q2 2025: revenue $18.2M (491× year over year), operating margin -219.2%, net loss $30.7M, operating cash flow −$29.6M. The chart follows the revenue to costs, profit and cash.
| Q2 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $18.2M | -91% | 491× |
| Operating profit | −$39.8M | -126% | — |
| Net earnings | −$30.7M | -121% | — |
| Operating cash flow | −$29.6M | -118% | — |
What changed
Revenue was $18.2M in Q2 2025, up 49003% year over year and down 91% from the previous quarter.
Operating costs exceeded revenue by $39.8M, an operating margin of -219.2%. Total costs grew 15% against revenue growth of 49003%. The fastest-growing cost line was General & admin (+45%). The quarter ended with a net loss of $30.7M, after a profit of $148.5M the previous quarter. Non-operating items added $6.9M, -21% of pre-tax earnings, so the bottom line overstates operating performance.
Operating cash flow was −$29.6M. Non-cash charges added back $370K of depreciation and $8.5M of share-based compensation. Working capital and other items used $7.8M. Capital expenditures of $720K exceeded it, leaving free cash flow of −$30.3M.
Questions
What was Keros Therapeutics' revenue in the second quarter 2025?
Keros Therapeutics (KROS) reported revenue of $18.2M for the second quarter 2025 (Q2 2025), up 491-fold from a year earlier and -91% from the quarter before.
Was Keros Therapeutics profitable in the second quarter 2025?
Operating loss was $39.8M (-219.2% of revenue) and net loss $30.7M.
Source: Keros Therapeutics 10-Q on SEC EDGAR.