Filing Flows › Mirum Pharmaceuticals (MIRM) › Q4 2025
Mirum Pharmaceuticals (MIRM) Q4 2025 earnings results (fourth quarter 2025)
10-K filed Feb 25, 2026
Mirum Pharmaceuticals (MIRM) reported revenue of $149M for the fourth quarter 2025 (Q4 2025), +50% from a year earlier and +12% from the quarter before. Operating margin was -3.1%, net loss $5.7M (3.8% of revenue).
Mirum Pharmaceuticals, Q4 2025: revenue $149M (+50% year over year), operating margin -3.1%, net loss $5.7M, operating cash flow $6.1M. The chart follows the revenue to costs, profit and cash.
| Q4 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $149M | +12% | +50% |
| Operating profit | −$4.6M | -275% | — |
| Net earnings | −$5.7M | -297% | — |
| Operating cash flow | $6.1M | -85% | — |
| Free cash flow | $5.5M | -86% | — |
What changed
Revenue was $148.9M in Q4 2025, up 50% year over year and up 12% from the previous quarter. Livmarli was the largest line at 71% of revenue.
Operating costs exceeded revenue by $4.6M, an operating margin of -3.1%. Total costs grew 24% against revenue growth of 50%. The fastest-growing cost line was SG&A (+30%). The quarter ended with a net loss of $5.7M, after a profit of $2.9M the previous quarter.
Operating cash flow was $6.1M. Non-cash charges added back $6.1M of depreciation and amortization and $19.0M of share-based compensation. Working capital and other items used $13.3M. Capital expenditures of $600K left free cash flow of $5.5M.
Questions
What was Mirum Pharmaceuticals' revenue in the fourth quarter 2025?
Mirum Pharmaceuticals (MIRM) reported revenue of $149M for the fourth quarter 2025 (Q4 2025), +50% from a year earlier and +12% from the quarter before.
Was Mirum Pharmaceuticals profitable in the fourth quarter 2025?
Operating loss was $4.6M (-3.1% of revenue) and net loss $5.7M.