Filing Flows › Regeneron Pharmaceuticals (REGN) › Q1 2025
Regeneron Pharmaceuticals (REGN) Q1 2025 earnings results (first quarter 2025)
10-Q filed Apr 29, 2025
Regeneron Pharmaceuticals (REGN) reported revenue of $3.0B for the first quarter 2025 (Q1 2025), -4% from a year earlier and -20% from the quarter before. Operating margin was 19.5%, net earnings $809M (26.7% of revenue).
Regeneron Pharmaceuticals, Q1 2025: revenue $3.0B (-4% year over year), operating margin 19.5%, net earnings $809M, operating cash flow $1.0B. The chart follows the revenue to costs, profit and cash.
| Q1 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $3.0B | -20% | -4% |
| Operating profit | $592M | -40% | -21% |
| Net earnings | $809M | -12% | +12% |
| Operating cash flow | $1.0B | -17% | -31% |
| Free cash flow | $816M | — | -41% |
What changed
Revenue was $3.0B in Q1 2025, down 4% year over year and down 20% from the previous quarter. Collaboration revenue was the largest line at 51% of revenue. Net product sales lost $0.35B year over year (down 20%), 297% of the total change.
Operating profit was $0.59B, a 19.5% margin (down 4.4 points year over year). Total costs grew 2% against a revenue fall of 4%. Net earnings were $0.81B, up 12% year over year. The effective tax rate was 10.6%. Non-operating items added $0.31B, 35% of pre-tax earnings, so the bottom line overstates operating performance.
Operating cash flow was $1.0B (down 31% year over year), 129% of net earnings. Non-cash charges added back $0.13B of depreciation and amortization and $0.26B of share-based compensation. Working capital and other items used $0.15B. After capital expenditures ($0.23B), free cash flow as the company reports it was $0.82B.
Questions
What was Regeneron Pharmaceuticals' revenue in the first quarter 2025?
Regeneron Pharmaceuticals (REGN) reported revenue of $3.0B for the first quarter 2025 (Q1 2025), -4% from a year earlier and -20% from the quarter before.
Was Regeneron Pharmaceuticals profitable in the first quarter 2025?
Operating profit was $592M (19.5% of revenue) and net earnings $809M.