Filing Flows › Rigel Pharmaceuticals (RIGL) › Q3 2025
Rigel Pharmaceuticals (RIGL) Q3 2025 earnings results (third quarter 2025)
10-Q filed Nov 4, 2025
Rigel Pharmaceuticals (RIGL) reported revenue of $69.5M for the third quarter 2025 (Q3 2025), +26% from a year earlier and -32% from the quarter before. Operating margin was 40.9%, net earnings $27.9M (40.2% of revenue).
Rigel Pharmaceuticals, Q3 2025: revenue $69.5M (+26% year over year), operating margin 40.9%, net earnings $27.9M, operating cash flow $24.0M. The chart follows the revenue to costs, profit and cash.
| Q3 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $69.5M | -32% | +26% |
| Operating profit | $28.4M | -53% | +102% |
| Net earnings | $27.9M | -53% | +125% |
| Operating cash flow | $24.0M | -21% | +11% |
What changed
Revenue was $69.5M in Q3 2025, up 26% year over year and down 32% from the previous quarter. Product sales, net was the largest line at 92% of revenue. Product sales, net added $25.1M year over year (up 65%), 178% of the total change. Contract revenues from collaborations and other declined 67%.
Operating profit was $28.4M, a 40.9% margin (up 15.5 points year over year). Of the extra revenue versus a year earlier, 101% reached operating profit, above the 25% margin then. Total costs fell 1% while revenue rose 26%. The fastest-growing cost line was Research & development (+19%). Net earnings were $27.9M, up 125% year over year. The effective tax rate was -1.0%.
Operating cash flow was $24.0M (up 11% year over year), 86% of net earnings. Non-cash charges added back $603K of depreciation and amortization and $3.4M of share-based compensation. Working capital and other items used $7.8M.
Questions
What was Rigel Pharmaceuticals' revenue in the third quarter 2025?
Rigel Pharmaceuticals (RIGL) reported revenue of $69.5M for the third quarter 2025 (Q3 2025), +26% from a year earlier and -32% from the quarter before.
Was Rigel Pharmaceuticals profitable in the third quarter 2025?
Operating profit was $28.4M (40.9% of revenue) and net earnings $27.9M.