Filing Flows › Nektar Therapeutics (NKTR) › Q2 2025
Nektar Therapeutics (NKTR) Q2 2025 earnings results (second quarter 2025)
10-Q filed Aug 8, 2025
Nektar Therapeutics (NKTR) reported revenue of $11.2M for the second quarter 2025 (Q2 2025), -52% from a year earlier and +7% from the quarter before. Operating margin was -324.2%, net loss $41.6M (372.2% of revenue).
Nektar Therapeutics, Q2 2025: revenue $11.2M (-52% year over year), operating margin -324.2%, net loss $41.6M, operating cash flow −$45.7M. The chart follows the revenue to costs, profit and cash.
| Q2 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $11.2M | +7% | -52% |
| Operating profit | −$36.2M | — | — |
| Net earnings | −$41.6M | — | — |
| Operating cash flow | −$45.7M | — | — |
What changed
Revenue was $11.2M in Q2 2025, down 52% year over year and up 7% from the previous quarter.
Operating costs exceeded revenue by $36.2M, an operating margin of -324.2%. Total costs fell 35% while revenue fell 52%. The quarter ended with a net loss of $41.6M, narrower than the previous quarter's $50.9M loss.
Operating cash flow was −$45.7M. Non-cash charges added back $214K of depreciation and amortization and $3.5M of share-based compensation. Working capital and other items used $7.8M. Capital expenditures of $37K exceeded it, leaving free cash flow of −$45.8M.
Questions
What was Nektar Therapeutics' revenue in the second quarter 2025?
Nektar Therapeutics (NKTR) reported revenue of $11.2M for the second quarter 2025 (Q2 2025), -52% from a year earlier and +7% from the quarter before.
Was Nektar Therapeutics profitable in the second quarter 2025?
Operating loss was $36.2M (-324.2% of revenue) and net loss $41.6M.