Loading...
•
Dec 31, 2025
Supernus Q4 2025 Earnings Report
Supernus Pharmaceuticals reported record fourth quarter 2025 financial results with significant revenue growth driven by its core growth products.
Key Takeaways
Supernus achieved record total revenues of $211.6 million in Q4 2025, a 21% increase year-over-year. Despite the revenue growth, the company reported a GAAP operating loss and net loss for the quarter, primarily due to acquisition-related costs from the Sage Therapeutics transaction. However, non-GAAP adjusted operating earnings remained stable at $48.5 million.
Record Q4 total revenues of $211.6 million, up 21% compared to Q4 2024.
Combined revenues from four growth products (Qelbree, GOCOVRI, ZURZUVAE, and ONAPGO) grew 45% to $161.3 million.
Successful acquisition of Sage Therapeutics, Inc. and the U.S. launch of ONAPGO for Parkinson's disease.
Resumption of new patient initiation for ONAPGO in Q1 2026 following supply chain improvements.
Revenue by Segment
Forward Guidance
For the full year 2026, Supernus expects total revenues between $840 million and $870 million, with adjusted operating earnings significantly higher than GAAP operating earnings.
Positive Outlook
- Projected total revenue growth to a range of $840M - $870M.
- ONAPGO net sales expected to reach $45M - $70M.
- Resumption of new patient initiation for ONAPGO in Q1 2026.
- Expected addition of a second ONAPGO supplier in 2027.
- Adjusted operating earnings guidance of $140M - $170M.
Challenges Ahead
- GAAP operating earnings projected as low as $0M to $30M.
- Combined R&D and SG&A expenses expected to be high at $620M - $650M.
- Trokendi XR and Oxtellar XR sales expected to decline to $40M - $50M combined.
- Ongoing impact of generic competition on legacy products.
Historical Earnings Impact
Analyze how earnings announcements historically affect stock price performance
Avg. Return Before/After Earnings
Loading earnings performance data...
Loading earnings reaction data...