Filing Flows › Madrigal Pharmaceuticals (MDGL) › Q2 2025
Madrigal Pharmaceuticals (MDGL) Q2 2025 earnings results (second quarter 2025)
10-Q filed Aug 5, 2025
Madrigal Pharmaceuticals (MDGL) reported revenue of $213M for the second quarter 2025 (Q2 2025), up 15-fold from a year earlier and +55% from the quarter before. Operating margin was -22.2%, net loss $42.3M (19.9% of revenue).
Madrigal Pharmaceuticals, Q2 2025: revenue $213M (15× year over year), operating margin -22.2%, net loss $42.3M, operating cash flow −$47.1M. The chart follows the revenue to costs, profit and cash.
| Q2 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $213M | +55% | 15× |
| Operating profit | −$47.2M | — | — |
| Net earnings | −$42.3M | — | — |
| Operating cash flow | −$47.1M | — | — |
What changed
Revenue was $212.8M in Q2 2025, up 1354% year over year and up 55% from the previous quarter.
Operating costs exceeded revenue by $47.2M, an operating margin of -22.2%. Total costs grew 47% against revenue growth of 1354%. The fastest-growing cost line was Other operating costs (+1325%). The quarter ended with a net loss of $42.3M, narrower than the previous quarter's $73.2M loss.
Operating cash flow was −$47.1M. Non-cash charges added back $377K of depreciation and amortization and $25.2M of share-based compensation. Working capital and other items used $30.3M.
Questions
What was Madrigal Pharmaceuticals' revenue in the second quarter 2025?
Madrigal Pharmaceuticals (MDGL) reported revenue of $213M for the second quarter 2025 (Q2 2025), up 15-fold from a year earlier and +55% from the quarter before.
Was Madrigal Pharmaceuticals profitable in the second quarter 2025?
Operating loss was $47.2M (-22.2% of revenue) and net loss $42.3M.