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Mar 31
United Therapeutics Q1 2025 Earnings Report
United Therapeutics reported strong first-quarter results with record revenue and solid profitability.
Key Takeaways
The company delivered a strong Q1 2025, achieving record revenues of $794.4 million, driven by growth in Tyvaso DPI and expanded market presence in pulmonary hypertension treatments.
Revenue reached a record $794.4M, led by Tyvaso product growth.
Net income rose to $322.2M despite higher R&D and SG&A expenses.
Tyvaso DPI sales surged 33% YoY, driven by strong patient uptake.
Cash and investments totaled over $5B, supporting future innovation.
United Therapeutics
United Therapeutics
United Therapeutics Revenue by Segment
United Therapeutics Revenue by Geographic Location
Revenue by Segment
Tyvaso Revenue
CapyFin.comRemodulin Revenue
CapyFin.comOrenitram Revenue
CapyFin.comUnituxin Revenue
CapyFin.comAdcirca Revenue
CapyFin.comOther Revenue
CapyFin.comRevenue by Geographic Location
United States Revenue
CapyFin.comRest of World Revenue
CapyFin.com Forward Guidance
United Therapeutics expects continued momentum in pulmonary hypertension products and key clinical milestones ahead.
Positive Outlook
- Continued commercial growth in Tyvaso and Orenitram
- Expected readout of TETON 2 trial in IPF
- First-in-human UKidney study planned
- IND filings for UHeart and UThymoKidney products anticipated
- Strong cash position to support R&D investments
Challenges Ahead
- Increased R&D and SG&A costs impacting margins
- Rising gross-to-net deductions
- Fluctuations in international Tyvaso demand
- Net unrealized losses on equity securities
- Higher income tax rate compared to prior year
Revenue & Expenses
Visualization of income flow from segment revenue to net income