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Dec 31, 2025
Axsome Q4 2025 Earnings Report
Axsome reported strong revenue growth in Q4 2025 while significantly narrowing its net loss year over year.
Key Takeaways
Axsome delivered 65% year-over-year revenue growth in Q4 2025 driven by strong AUVELITY and SUNOSI sales, while substantially reducing its net loss compared to the prior year period.
Total revenue increased 65% year over year to $195999000.
AUVELITY sales grew 68% year over year to $155100000.
Net loss narrowed to $28559000 from $74912000 in Q4 2024.
SG&A expenses rose significantly to support commercialization efforts.
Revenue by Segment
Forward Guidance
The company expects its current cash to fund operations into cash flow positivity and outlined multiple regulatory and clinical milestones in 2026.
Positive Outlook
- Cash expected to fund operations into cash flow positivity.
- AXS-05 Alzheimer’s agitation PDUFA date set for April 30, 2026.
- AXS-12 NDA submission planned in Q1 2026.
- Multiple Phase 3 trial initiations in 2026.
- Continued commercial momentum across marketed products.
Challenges Ahead
- Continued net losses in Q4 2025.
- High SG&A expenses due to commercialization expansion.
- Increased R&D spending required for pipeline advancement.
- Short-term borrowings of $70000000 outstanding.
- Regulatory approvals remain subject to FDA review risk.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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