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Ligand Pharmaceuticals LGND Q2 2025 earnings

Reported August 7, 2025 · Before market open

Revenue$47.6MMiss by $5.2M
EPS$1.60Beat by $0.06
Revenue estimate$52.8M
EPS estimate$1.54

Next report

Nov 5, 2026 (in 2 months)
Revenue estimate$78.1M
EPS estimate$2.30

Financials

Q2 2025

Income statement

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Revenue$47.6M+14.7%
Operating income$8.4M+144%
Net income$4.8M+109%
EPS (diluted)$0.24+108%

Balance sheet

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Cash & equivalents$67.7M+273%
Total debt$5.7M-24.3%
Total equity$827.3M+6.7%
Total assets$948.6M+9.5%

Cash flow

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Operating cash flow$15.8M+18.7%
CapEx$214.0K-47.5%
Free cash flow$15.6M+20.8%

Valuation & ratios

Valuation

as of 06/30/25
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Market cap$2.28B+50.7%
Enterprise value$2.22B+47.6%
P/S12.2×+0.8×

Profitability

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Operating margin-18.3%—
Net margin-40.4%-72.0pp
FCF margin28.6%-6.1pp

Returns & leverage

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Return on equity-9.5%-15.3pp
Debt / equity0×0.0×
Current ratio5.5×-11.4×

Segments

By product

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Filspari$6.6M+171%
Qarziba$5.9M—
Vaxneuvance$2.6M+138%

By segment

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Development and Licensing of Biopharmaceutical Assets$47.6M+14.7%

FAQ

When did Ligand Pharmaceuticals report Q2 2025 earnings?
Ligand Pharmaceuticals (LGND) reported Q2 2025 earnings on August 7, 2025 before market open.
What were Ligand Pharmaceuticals's Q2 2025 revenue and EPS?
Ligand Pharmaceuticals reported revenue of $47.6M and eps of $1.60 for Q2 2025.
Did Ligand Pharmaceuticals beat estimates in Q2 2025?
Revenue missed the consensus estimate of $52.8M by $5.2M. EPS beat the consensus estimate of $1.54 by $0.06.
How did Ligand Pharmaceuticals's Q2 2025 results compare year-over-year?
Compared to the same quarter a year prior, revenue grew 14.7% from $41.5M a year earlier and eps grew 14.3% from $1.40.
Where can I find Ligand Pharmaceuticals's Q2 2025 SEC filings?
You can read the 8-K earnings release (0000886163-25-000047) and the 10-Q periodic report (0000886163-25-000051) directly on SEC EDGAR. The filing index links above go to sec.gov.