Filing Flows › BeOne Medicines (ONC) › Q2 2025
BeOne Medicines (ONC) Q2 2025 earnings results (second quarter 2025)
10-Q filed Aug 6, 2025
BeOne Medicines (ONC) reported revenue of $1.3B for the second quarter 2025 (Q2 2025), +42% from a year earlier and +18% from the quarter before. Operating margin was 6.7%, net earnings $94.3M (7.2% of revenue).
BeOne Medicines, Q2 2025: revenue $1.3B (+42% year over year), operating margin 6.7%, net earnings $94.3M, operating cash flow $264M. The chart follows the revenue to costs, profit and cash.
| Q2 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $1.3B | +18% | +42% |
| Gross profit | $1.2B | +21% | +45% |
| Operating profit | $87.9M | +692% | — |
| Net earnings | $94.3M | 74× | — |
| Operating cash flow | $264M | +498% | — |
| Free cash flow | $220M | — | — |
What changed
Revenue was $1.3B in Q2 2025, up 42% year over year and up 18% from the previous quarter. Product revenue, net was the largest line at 99% of revenue. Product revenue, net added $0.38B year over year (up 41%), 99% of the total change.
Gross margin was 87.5%, up 2.4 points from a year earlier. Operating profit was $0.09B, a 6.7% margin (up 18.2 points year over year). Operating expenses grew 18% against revenue growth of 42%. The fastest-growing cost line was SG&A (+21%). Net earnings were $0.09B. The effective tax rate was 5.3%.
Operating cash flow was $0.26B, 279% of net earnings. Non-cash charges added back $0.04B of depreciation and amortization and $0.15B of share-based compensation. Working capital and other items used $0.02B. Capital expenditures of $0.04B left free cash flow of $0.22B.
Questions
What was BeOne Medicines' revenue in the second quarter 2025?
BeOne Medicines (ONC) reported revenue of $1.3B for the second quarter 2025 (Q2 2025), +42% from a year earlier and +18% from the quarter before.
Was BeOne Medicines profitable in the second quarter 2025?
Operating profit was $87.9M (6.7% of revenue) and net earnings $94.3M.
Source: BeOne Medicines 10-Q on SEC EDGAR.