Filing Flows › Puma Biotechnology (PBYI) › Q3 2025
Puma Biotechnology (PBYI) Q3 2025 earnings results (third quarter 2025)
10-Q filed Nov 6, 2025
Puma Biotechnology (PBYI) reported revenue of $54.5M for the third quarter 2025 (Q3 2025), -32% from a year earlier and +4% from the quarter before. Operating margin was 17.6%, net earnings $8.8M (16.2% of revenue).
Puma Biotechnology, Q3 2025: revenue $54.5M (-32% year over year), operating margin 17.6%, net earnings $8.8M, operating cash flow $9.7M. The chart follows the revenue to costs, profit and cash.
| Q3 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $54.5M | +4% | -32% |
| Operating profit | $9.6M | +44% | -57% |
| Net earnings | $8.8M | +51% | -56% |
| Operating cash flow | $9.7M | -31% | -12% |
| Free cash flow | $9.7M | -31% | -12% |
What changed
Revenue was $54.5M in Q3 2025, down 32% year over year and up 4% from the previous quarter. Product was the largest line at 95% of revenue. Royalty lost $21.8M year over year (down 89%), 84% of the total change.
Operating profit was $9.6M, a 17.6% margin (down 9.8 points year over year). Total costs fell 23% while revenue fell 32%. The fastest-growing cost line was Research & development (+27%). Net earnings were $8.8M, down 56% year over year. The effective tax rate was 4.3%.
Operating cash flow was $9.7M (down 12% year over year), 110% of net earnings. Non-cash charges added back $2.7M of depreciation and amortization and $1.7M of share-based compensation. Working capital and other items used $3.5M. Capital expenditures of $26K left free cash flow of $9.7M.
Questions
What was Puma Biotechnology's revenue in the third quarter 2025?
Puma Biotechnology (PBYI) reported revenue of $54.5M for the third quarter 2025 (Q3 2025), -32% from a year earlier and +4% from the quarter before.
Was Puma Biotechnology profitable in the third quarter 2025?
Operating profit was $9.6M (17.6% of revenue) and net earnings $8.8M.
Source: Puma Biotechnology 10-Q on SEC EDGAR.