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Sep 30, 2025
ANI Pharmaceuticals Q3 2025 Earnings Report
ANI Pharmaceuticals reported record third quarter 2025 results, led by strong growth in Rare Disease and Generic segments.
Key Takeaways
ANI Pharmaceuticals delivered record Q3 2025 revenue of $227.8 million and adjusted non-GAAP EPS of $2.04. Performance was driven by exceptional Cortrophin Gel sales and continued momentum in Generics. Net income reached $26.3 million, and the company raised full-year guidance on both revenue and earnings.
Record quarterly revenue of $227.8 million, up 53.6% year-over-year
Cortrophin Gel revenue surged 93.8% to $101.9 million
Adjusted non-GAAP EBITDA grew 69.8% to $59.6 million
Raised full-year 2025 revenue and EPS guidance on strong Q3 performance
Revenue by Segment
Forward Guidance
ANI raised its full-year 2025 guidance for revenue, EBITDA, and EPS based on strong third quarter performance and continued Rare Disease growth.
Positive Outlook
- Raised full-year 2025 revenue guidance to $854M–$873M
- Raised Cortrophin Gel revenue forecast to $347M–$352M
- Increased adjusted non-GAAP EPS guidance to $7.37–$7.64
- Rare Disease expected to represent ~50% of total company revenue
- Strong momentum in Cortrophin driven by expanded prescribing and demand
Challenges Ahead
- ILUVIEN revenues impacted by reduced Medicare access
- Lower gross margin on new partnered generics
- Ongoing investment needed to support Rare Disease growth
- SG&A costs rose due to sales force expansion and legal expenses
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
Analyze how earnings announcements historically affect stock price performance
Avg. Return Before/After Earnings
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