Loading...
•
Sep 30
Theravance Q3 2025 Earnings Report
Theravance reported Q3 2025 results with a return to profitability driven by strong YUPELRI performance and disciplined cost control.
Key Takeaways
Theravance posted $3.6 million in net income for Q3 2025, reversing a prior-year loss, as YUPELRI net sales hit a record and the company reached non-GAAP breakeven. Cash position remained strong at $333 million.
YUPELRI U.S. net sales reached an all-time high of $71.4 million, with Theravance's implied 35% share at $25 million.
Net income of $3.6 million in Q3 2025, compared to a net loss of $12.7 million in Q3 2024.
Non-GAAP net income from operations was $2.3 million, marking a return to breakeven.
Cash, cash equivalents and marketable securities totaled $332.7 million as of September 30, 2025.
Theravance
Theravance
Theravance Revenue by Segment
Theravance Revenue by Geographic Location
Revenue by Segment
YUPELRI Revenue
CapyFin.comRevenue by Geographic Location
United States Revenue
CapyFin.com Forward Guidance
Theravance expects continued breakeven non-GAAP margins in Q4 2025, with consistent R&D and SG&A spending and milestone targets tied to TRELEGY and YUPELRI sales.
Positive Outlook
- Maintains breakeven non-GAAP net income guidance for Q4 2025.
- Full-year 2025 R&D expenses expected to remain between $32M and $38M.
- SG&A expenses guided between $50M and $60M for 2025.
- Cash position of $333M enables strategic flexibility.
- TRELEGY on pace to exceed $3.4B in FY 2025 sales, triggering $50M milestone.
Challenges Ahead
- Non-GAAP profitability excludes one-time items and share-based compensation.
- YUPELRI milestone depends on achieving ~$54M in Q4 sales.
- No guidance provided on licensing revenue for Q4.
- Ongoing R&D spend may pressure operating margins.
- Macroeconomic factors or competitive landscape could impact future sales momentum.