Filing Flows › Mannkind (MNKD) › Q2 2025
Mannkind (MNKD) Q2 2025 earnings results (second quarter 2025)
10-Q filed Aug 6, 2025
Mannkind (MNKD) reported revenue of $76.5M for the second quarter 2025 (Q2 2025), +6% from a year earlier and -2% from the quarter before. Operating margin was 6.9%, net earnings $668K (0.9% of revenue).
Mannkind, Q2 2025: revenue $76.5M (+6% year over year), operating margin 6.9%, net earnings $668K, operating cash flow $8.9M. The chart follows the revenue to costs, profit and cash.
| Q2 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $76.5M | -2% | +6% |
| Operating profit | $5.3M | -76% | -68% |
| Net earnings | $668K | -95% | — |
| Operating cash flow | $8.9M | — | +133% |
| Free cash flow | $7.8M | — | +810% |
What changed
Revenue was $76.5M in Q2 2025, up 6% year over year and down 2% from the previous quarter. Royalty was the largest line at 41% of revenue. Royalty added $5.6M year over year (up 22%), 136% of the total change. License and Service declined 12%.
Operating profit was $5.3M, a 6.9% margin (down 16.0 points year over year). Operating profit fell $11.3M even though revenue rose $4.1M versus a year earlier, so costs grew faster than sales. Total costs grew 28% against revenue growth of 6%. The fastest-growing cost line was Other operating costs (+50%). Net earnings were $668K. The effective tax rate was 28.9%.
Operating cash flow was $8.9M (up 133% year over year), 1340% of net earnings. Non-cash charges added back $2.1M of depreciation and amortization and $7.5M of share-based compensation. Working capital and other items used $1.3M. Capital expenditures of $1.1M left free cash flow of $7.8M.
Questions
What was Mannkind's revenue in the second quarter 2025?
Mannkind (MNKD) reported revenue of $76.5M for the second quarter 2025 (Q2 2025), +6% from a year earlier and -2% from the quarter before.
Was Mannkind profitable in the second quarter 2025?
Operating profit was $5.3M (6.9% of revenue) and net earnings $668K.
Source: Mannkind 10-Q on SEC EDGAR.