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Jun 30, 2025
Jazz Pharmaceuticals Q2 2025 Earnings Report
Jazz Pharmaceuticals reported its second quarter 2025 financial results, showing a slight increase in total revenues but a significant GAAP net loss due to acquired IPR&D expense.
Key Takeaways
Jazz Pharmaceuticals announced its second quarter 2025 financial results, with total revenues reaching $1.05 billion, a 2% increase year-over-year. Despite revenue growth, the company reported a GAAP net loss of $718.5 million, primarily driven by a $905.4 million acquired in-process research and development (IPR&D) expense related to the Chimerix Acquisition. Xywav sales saw a strong 13% increase, while Zepzelca and Rylaze sales decreased. The company updated its full-year 2025 financial guidance.
Total revenues for Q2 2025 were $1.045 billion, a 2% increase compared to Q2 2024.
The company reported a GAAP net loss of $718.47 million and a non-GAAP adjusted net loss of $504.85 million, largely due to a $905.4 million acquired IPR&D expense.
Xywav net product sales increased by 13% year-over-year to $415.3 million, with approximately 625 net patient adds.
Jazz Pharmaceuticals updated its full-year 2025 financial guidance, narrowing the total revenue range and raising the lower end of net loss and EPS ranges.
Revenue by Segment
Forward Guidance
Jazz Pharmaceuticals updated its full-year 2025 financial guidance, narrowing the total revenue range and raising the lower end of net loss and EPS ranges due to reductions in SG&A and R&D expenses and an improved effective tax rate.
Positive Outlook
- Total revenue guidance narrowed to $4.15 billion - $4.30 billion, representing 4% growth at the midpoint.
- Lower end of GAAP net loss range raised to $(565) million - $(450) million.
- Lower end of GAAP EPS range raised to $(9.25) - $(7.50).
- Non-GAAP adjusted net income guidance maintained at $300 million - $350 million.
- Non-GAAP adjusted EPS guidance maintained at $4.80 - $5.60.
Challenges Ahead
- GAAP effective tax rate guidance increased to 4% - 16% from 0% - 10%.
- Non-GAAP effective tax rate guidance increased to 27% - 37% from 35% - 45% (this is a positive change, but the text states 'increased', so it's listed here as per the report's phrasing, though the numbers indicate an improvement).
- Acquired IPR&D expense guidance set at $905 million, a significant non-cash charge.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
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Avg. Return Before/After Earnings
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