Filing Flows › Supernus Pharmaceuticals (SUPN) › Q3 2025
Supernus Pharmaceuticals (SUPN) Q3 2025 earnings results (third quarter 2025)
10-Q filed Nov 6, 2025
Supernus Pharmaceuticals (SUPN) reported revenue of $192M for the third quarter 2025 (Q3 2025), +9% from a year earlier and +16% from the quarter before. Operating margin was -31.4%, net loss $45.1M (23.5% of revenue).
Supernus Pharmaceuticals, Q3 2025: revenue $192M (+9% year over year), operating margin -31.4%, net loss $45.1M, operating cash flow −$61.7M. The chart follows the revenue to costs, profit and cash.
| Q3 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $192M | +16% | +9% |
| Operating profit | −$60.2M | -596% | — |
| Net earnings | −$45.1M | -301% | — |
| Operating cash flow | −$61.7M | -205% | — |
What changed
Revenue was $192.1M in Q3 2025, up 9% year over year and up 16% from the previous quarter. Qelbree was the largest line at 42% of revenue. Qelbree added $19.1M year over year (up 31%), 116% of the total change. Oxtellar XR declined 60%.
Operating costs exceeded revenue by $60.2M, an operating margin of -31.4%. Total costs grew 87% against revenue growth of 9%. The fastest-growing cost line was SG&A (+158%). The quarter ended with a net loss of $45.1M, after a profit of $22.5M the previous quarter.
Operating cash flow was −$61.7M. Non-cash charges added back $24.8M of depreciation and amortization and $7.8M of share-based compensation. Working capital and other items used $49.2M. Capital expenditures of $129K exceeded it, leaving free cash flow of −$61.8M.
Questions
What was Supernus Pharmaceuticals' revenue in the third quarter 2025?
Supernus Pharmaceuticals (SUPN) reported revenue of $192M for the third quarter 2025 (Q3 2025), +9% from a year earlier and +16% from the quarter before.
Was Supernus Pharmaceuticals profitable in the third quarter 2025?
Operating loss was $60.2M (-31.4% of revenue) and net loss $45.1M.