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Mar 31, 2025
Regeneron Q1 2025 Earnings Report
Regeneron reported a revenue decline but maintained profitability in Q1 2025.
Key Takeaways
Regeneron faced a slight revenue decrease but achieved strong profitability driven by robust Dupixent sales and strategic pipeline advancements.
Total revenue was $3,028,700,000, a 4% decline YoY.
GAAP Net Income grew 12% to $808,700,000.
Adjusted EPS reached $8.22 despite lower non-GAAP net income.
Dupixent global net sales increased 19% to $3,665,600,000.
Revenue by Segment
Revenue by Geographic Location
Forward Guidance
Regeneron maintained its 2025 guidance for R&D and SG&A spending while slightly lowering gross margin expectations.
Positive Outlook
- Maintained R&D and SG&A spending guidance.
- Capital expenditure guidance slightly lowered.
- Non-GAAP effective tax rate guidance unchanged at 11%-13%.
- Continued internal investment in clinical and commercial capabilities.
- Ongoing share repurchases and dividend program boost shareholder value.
Challenges Ahead
- Lowered GAAP gross margin outlook from 84%-85% to 83%-84%.
- Non-GAAP gross margin outlook reduced from 87%-88% to 86%-87%.
- EYLEA HD faced a Complete Response Letter (CRL) for pre-filled syringe.
- Competition continues to pressure EYLEA sales volume and pricing.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
Analyze how earnings announcements historically affect stock price performance
Avg. Return Before/After Earnings
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