Filing Flows › Travere Therapeutics (TVTX) › Q4 2025
Travere Therapeutics (TVTX) Q4 2025 earnings results (fourth quarter 2025)
10-K filed Feb 19, 2026
Travere Therapeutics (TVTX) reported revenue of $130M for the fourth quarter 2025 (Q4 2025), +73% from a year earlier and -21% from the quarter before. Operating margin was -25.0%, net earnings $2.7M (2.1% of revenue).
Travere Therapeutics, Q4 2025: revenue $130M (+73% year over year), operating margin -25.0%, net earnings $2.7M, operating cash flow $60.7M. The chart follows the revenue to costs, profit and cash.
| Q4 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $130M | -21% | +73% |
| Operating profit | −$32.4M | -230% | — |
| Net earnings | $2.7M | -89% | — |
| Operating cash flow | $60.7M | +324% | — |
What changed
Revenue was $129.7M in Q4 2025, up 73% year over year and down 21% from the previous quarter. FILSPARI was the largest line at 80% of revenue.
Operating costs exceeded revenue by $32.4M, an operating margin of -25.0%. Total costs grew 20% against revenue growth of 73%. The fastest-growing cost line was SG&A (+46%). Net earnings were $2.7M. The effective tax rate was 25.2%. Non-operating items added $36.1M, 988% of pre-tax earnings, so the bottom line overstates operating performance.
Operating cash flow was $60.7M, 2223% of net earnings. Non-cash charges added back $18.1M of depreciation and amortization and $11.5M of share-based compensation. Working capital and other items added $28.3M.
Questions
What was Travere Therapeutics' revenue in the fourth quarter 2025?
Travere Therapeutics (TVTX) reported revenue of $130M for the fourth quarter 2025 (Q4 2025), +73% from a year earlier and -21% from the quarter before.
Was Travere Therapeutics profitable in the fourth quarter 2025?
Operating loss was $32.4M (-25.0% of revenue) and net earnings $2.7M.