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Jun 30
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.
Jazz Pharmaceuticals
Jazz Pharmaceuticals
Jazz Pharmaceuticals Revenue by Segment
Revenue by Segment
Xywav Revenue
CapyFin.comXyrem Revenue
CapyFin.comEpidiolex/Epidyolex Revenue
CapyFin.comSativex Revenue
CapyFin.comRylaze/Enrylaze Revenue
CapyFin.comZepzelca Revenue
CapyFin.comDefitelio/defibrotide Revenue
CapyFin.comVyxeos Revenue
CapyFin.comZiihera Revenue
CapyFin.comOther Product Sales Revenue
CapyFin.comRoyalties and Contract Revenues Revenue
CapyFin.com 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.
- The projected GAAP net loss includes a substantial impact from acquired IPR&D expense and Xyrem antitrust litigation settlements.
- No specific negative changes in revenue or profit guidance, but the overall GAAP net loss remains significant.
Revenue & Expenses
Visualization of income flow from segment revenue to net income