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Mar 31, 2025
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.
Revenue by Segment
Revenue by Geographic Location
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
Historical Earnings Impact
Analyze how earnings announcements historically affect stock price performance
Avg. Return Before/After Earnings
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