Filing Flows › BeOne Medicines (ONC) › Q3 2025
BeOne Medicines (ONC) Q3 2025 earnings results (third quarter 2025)
10-Q filed Nov 6, 2025
BeOne Medicines (ONC) reported revenue of $1.4B for the third quarter 2025 (Q3 2025), +41% from a year earlier and +7% from the quarter before. Operating margin was 11.5%, net earnings $125M (8.8% of revenue).
BeOne Medicines, Q3 2025: revenue $1.4B (+41% year over year), operating margin 11.5%, net earnings $125M, operating cash flow $403M. The chart follows the revenue to costs, profit and cash.
| Q3 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $1.4B | +7% | +41% |
| Gross profit | $1.2B | +6% | +46% |
| Operating profit | $163M | +86% | — |
| Net earnings | $125M | +32% | — |
| Operating cash flow | $403M | +53% | +114% |
| Free cash flow | $354M | +61% | +548% |
What changed
Revenue was $1.4B in Q3 2025, up 41% year over year and up 7% from the previous quarter. Product revenue, net was the largest line at 99% of revenue. Product revenue, net added $0.40B year over year (up 40%), 98% of the total change.
Gross margin was 86.1%, up 3.1 points from a year earlier. Operating profit was $0.16B, a 11.5% margin (up 23.6 points year over year). Operating expenses grew 11% against revenue growth of 41%. The fastest-growing cost line was SG&A (+16%). Net earnings were $0.12B. The effective tax rate was 15.2%.
Operating cash flow was $0.40B (up 114% year over year), 322% of net earnings. Non-cash charges added back $0.04B of depreciation and amortization and $0.14B of share-based compensation. Working capital and other items added $0.10B. Capital expenditures of $0.05B left free cash flow of $0.35B.
Questions
What was BeOne Medicines' revenue in the third quarter 2025?
BeOne Medicines (ONC) reported revenue of $1.4B for the third quarter 2025 (Q3 2025), +41% from a year earlier and +7% from the quarter before.
Was BeOne Medicines profitable in the third quarter 2025?
Operating profit was $163M (11.5% of revenue) and net earnings $125M.
Source: BeOne Medicines 10-Q on SEC EDGAR.