Filing Flows › Royalty Pharma (RPRX) › Q2 2025
Royalty Pharma (RPRX) Q2 2025 earnings results (second quarter 2025)
10-Q filed Aug 6, 2025
Royalty Pharma (RPRX) reported revenue of $579M for the second quarter 2025 (Q2 2025), +8% from a year earlier and +2% from the quarter before. Operating margin was 36.3%, net earnings $30.2M (5.2% of revenue).
Royalty Pharma, Q2 2025: revenue $579M (+8% year over year), operating margin 36.3%, net earnings $30.2M, operating cash flow $364M. The chart follows the revenue to costs, profit and cash.
| Q2 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $579M | +2% | +8% |
| Operating profit | $210M | -61% | -22% |
| Net earnings | $30.2M | -87% | -70% |
| Operating cash flow | $364M | -39% | -45% |
What changed
Revenue was $578.7M in Q2 2025, up 8% year over year and up 2% from the previous quarter. Income from financial royalty assets was the largest line at 95% of revenue. Income from financial royalty assets added $37.6M year over year (up 7%), 91% of the total change.
Operating profit was $209.8M, a 36.3% margin (down 13.9 points year over year). Operating profit fell $59.8M even though revenue rose $41.4M versus a year earlier, so costs grew faster than sales. Total costs grew 38% against revenue growth of 8%. Net earnings were $30.2M, down 70% year over year. The effective tax rate was 0.0%.
Operating cash flow was $364.0M (down 45% year over year), 393% of net income including minority interests. Non-cash charges added back $1.4M of depreciation and $90.8M of share-based compensation. Working capital and other items added $179.2M.
Questions
What was Royalty Pharma's revenue in the second quarter 2025?
Royalty Pharma (RPRX) reported revenue of $579M for the second quarter 2025 (Q2 2025), +8% from a year earlier and +2% from the quarter before.
Was Royalty Pharma profitable in the second quarter 2025?
Operating profit was $210M (36.3% of revenue) and net earnings $30.2M.
Source: Royalty Pharma 10-Q on SEC EDGAR.