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Sep 30
Teva Q3 2025 Earnings Report
Teva's innovative portfolio drove its 11th consecutive quarter of growth in Q3 2025, leading to an increased 2025 outlook for Austedo® and Non-GAAP EPS.
Key Takeaways
Teva reported strong third-quarter 2025 results, with revenues reaching $4.5 billion, a 3% increase year-over-year. The growth was primarily fueled by its innovative portfolio, particularly AUSTEDO®, which saw a 38% increase in U.S. revenue. The company also raised its 2025 revenue outlook for AUSTEDO® and its non-GAAP EPS guidance, reflecting confidence in its 'Pivot to Growth' strategy and pipeline advancements.
Teva's revenues for Q3 2025 reached $4.5 billion, marking an increase of 3% year-over-year.
The innovative portfolio, including AUSTEDO®, AJOVY®, and UZEDY®, collectively grew by approximately 33% in local currency year-over-year.
AUSTEDO® global revenues were $618 million, a 38% increase in local currency, leading to an upward revision of its 2025 revenue outlook.
Non-GAAP operating income margin improved to 28.9%, demonstrating progress towards the 30% target by 2027.
Teva
Teva
Teva Revenue by Segment
Teva Revenue by Geographic Location
Revenue by Segment
United States Revenue
CapyFin.comEurope Revenue
CapyFin.comInternational Markets Revenue
CapyFin.comOther Activities Revenue
CapyFin.comRevenue by Geographic Location
United States Revenue
CapyFin.comEurope Revenue
CapyFin.comInternational Markets Revenue
CapyFin.com Forward Guidance
Teva has updated its full-year 2025 outlook, tightening the revenue range and increasing the low-end of non-GAAP operating income, adjusted EBITDA, and non-GAAP diluted EPS, while maintaining free cash flow guidance.
Positive Outlook
- Increased 2025 revenue outlook for AUSTEDO® to $2,050 million - $2,150 million.
- Raised the low-end of non-GAAP operating income guidance to $4.4 billion - $4.6 billion.
- Increased the low-end of adjusted EBITDA guidance to $4.8 billion - $5.0 billion.
- Non-GAAP diluted EPS outlook raised to $2.55 - $2.65.
- Reaffirmed 2025 revenue outlooks for AJOVY® ($630 million - $640 million) and UZEDY® ($190 million - $200 million).
Challenges Ahead
- Tightened the high-end of the overall revenue outlook by $200 million to $16.8 billion - $17.0 billion.
- Exclusive discussions for the TAPI sale have terminated, requiring a renewed sales process.
- Foreign exchange remains a volatile factor that can negatively impact revenue and income.
- The outlook includes no contribution from Japan BV after Q1 2025.
- The outlook excludes expected income from development milestone payments from Sanofi for duvakitug Phase 3 study initiation.
Revenue & Expenses
Visualization of income flow from segment revenue to net income