Legend Biotech reported a strong fourth quarter for 2025, driven by a 64% year-over-year increase in total revenue primarily from CARVYKTI collaboration sales. While the company reported a GAAP net loss due to unrealized foreign exchange impacts, it achieved a positive non-GAAP adjusted net income and reached a milestone of 10,000 patients treated with its lead therapy.

Legend Biotech delivered robust revenue growth driven by CARVYKTI® sales, significantly reducing its net loss compared to the prior year, and is on track toward profitability.

Legend Biotech delivered strong top-line growth on CARVYKTI® sales, with collaboration revenue more than doubling year over year. Despite this, operating loss and net loss widened due to other expenses and continued investment in commercialization and pipeline.

Legend Biotech saw revenue more than double year-over-year in Q1 2025 due to strong CARVYKTI-related collaboration revenue. However, operating expenses and foreign exchange losses led to a larger net loss. The company remains confident in achieving profitability by 2026.

Legend Biotech reported Q4 2024 revenue of $186.5 million, significantly increasing from $79.5 million in Q4 2023. The company posted a net income of $26.3 million, reversing a prior-year net loss of $144.8 million. EPS was $0.07, while adjusted EPS was -$0.16. The results reflect strong CARVYKTI sales and licensing revenue growth.