Filing Flows › Neurocrine Biosciences (NBIX) › Q1 2025
Neurocrine Biosciences (NBIX) Q1 2025 earnings results (first quarter 2025)
10-Q filed May 5, 2025
Neurocrine Biosciences (NBIX) reported revenue of $573M for the first quarter 2025 (Q1 2025), +11% from a year earlier and -9% from the quarter before. Operating margin was 4.1%, net earnings $7.9M (1.4% of revenue).
Neurocrine Biosciences, Q1 2025: revenue $573M (+11% year over year), operating margin 4.1%, net earnings $7.9M, operating cash flow $64.8M. The chart follows the revenue to costs, profit and cash.
| Q1 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $573M | -9% | +11% |
| Operating profit | $23.6M | -83% | -76% |
| Net earnings | $7.9M | -92% | -82% |
| Operating cash flow | $64.8M | -73% | -50% |
| Free cash flow | $54.1M | -77% | -55% |
What changed
Revenue was $572.6M in Q1 2025, up 11% year over year and down 9% from the previous quarter. Net product sales was the largest line at 98% of revenue. Net product sales added $54.7M year over year (up 11%), 95% of the total change.
Operating profit was $23.6M, a 4.1% margin (down 15.1 points year over year). Operating profit fell $75.7M even though revenue rose $57.3M versus a year earlier, so costs grew faster than sales. Total costs grew 32% against revenue growth of 11%. The fastest-growing cost line was Research & development (+65%). Net earnings were $7.9M, down 82% year over year. The effective tax rate was 46.3%.
Operating cash flow was $64.8M (down 50% year over year), 820% of net earnings. Non-cash charges added back $7.6M of depreciation and amortization and $52.8M of share-based compensation. Working capital and other items used $3.5M. Capital expenditures of $10.7M left free cash flow of $54.1M.
Questions
What was Neurocrine Biosciences' revenue in the first quarter 2025?
Neurocrine Biosciences (NBIX) reported revenue of $573M for the first quarter 2025 (Q1 2025), +11% from a year earlier and -9% from the quarter before.
Was Neurocrine Biosciences profitable in the first quarter 2025?
Operating profit was $23.6M (4.1% of revenue) and net earnings $7.9M.