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Dec 31, 2025
OPKO Health Q4 2025 Earnings Report
OPKO Health reported lower revenue and a net loss in the fourth quarter of 2025, reflecting the impact of asset divestitures and higher operating costs.
Key Takeaways
OPKO reported Q4 2025 total revenue of 148500000 and a net loss of -31300000, driven by a consolidated operating loss of -38300000. Services revenue declined due to BioReference asset sales and lower volumes, while product revenue increased and IP/other revenue included a Regeneron upfront payment and Eli Lilly royalty revenue.
Total revenue was 148500000 versus 183600000 in the prior-year quarter.
Operating loss widened to -38300000 from -33100000 in the prior-year quarter.
Net loss was -31300000, or -0.04 per diluted share, versus net income of 14000000 in the prior-year quarter.
Q4 included 13500000 of common stock repurchases and ended with 369100000 in cash, cash equivalents and restricted cash.
Revenue by Segment
Forward Guidance
OPKO introduced 2026 guidance, projecting Q1 2026 total revenue of 125000000 to 140000000 and full-year 2026 total revenue of 530000000 to 560000000, with costs and expenses expected to exceed revenues in both periods.
Positive Outlook
- Introduced Q1 2026 revenue outlook of 125000000 to 140000000.
- Introduced FY 2026 revenue outlook of 530000000 to 560000000.
- Guided to Pfizer profit share contribution within revenue for 2026.
- Guided to BARDA contract contribution within revenue for 2026.
- R&D investment planned within total costs and expenses for 2026.
Challenges Ahead
- Guided Q1 2026 total costs and expenses of 170000000 to 180000000, above revenue guidance.
- Guided FY 2026 total costs and expenses of 725000000 to 750000000, above revenue guidance.
- Q4 2025 operating loss widened year-over-year.
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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