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Ligand Pharmaceuticals LGND Q3 2025 earnings

Reported November 6, 2025 · Before market open

Revenue$115.5MBeat by $59.9M
EPS$3.09Beat by $1.12
Revenue estimate$55.6M
EPS estimate$1.97

Next report

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

Financials

Q3 2025

Income statement

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Revenue$115.5M+123%
Operating income$54.9M+1,648%
Net income$117.3M+1,735%
EPS (diluted)$5.68+1,556%

Balance sheet

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Cash & equivalents$139.4M+119%
Total debt$5.5M-25.2%
Total equity$950.2M+13.0%
Total assets$1.5B+54.7%

Cash flow

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Operating cash flow$13.1M-64.2%
CapEx$15.0K-97.5%
Free cash flow$13.1M-63.6%

Valuation & ratios

Valuation

as of 09/30/25
See full
Market cap$3.45B+88.9%
Enterprise value$3.32B+87.3%
P/E71.1×+30.7×
P/S13.7×+1.7×

Profitability

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Operating margin7%—
Net margin19.3%-10.3pp
FCF margin12.2%-37.0pp

Returns & leverage

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Return on equity5.4%-0.6pp
Debt / equity0×0.0×
Current ratio24.7×+12.2×

Segments

By product

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Filspari$9.1M+183%
Qarziba$6.0M—
Capvaxive$3.2M—
Ohtuvayre$2.7M—
Vaxneuvance$2.0M+39.1%

By segment

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Development and Licensing of Biopharmaceutical Assets$115.5M+123%

FAQ

When did Ligand Pharmaceuticals report Q3 2025 earnings?
Ligand Pharmaceuticals (LGND) reported Q3 2025 earnings on November 6, 2025 before market open.
What were Ligand Pharmaceuticals's Q3 2025 revenue and EPS?
Ligand Pharmaceuticals reported revenue of $115.5M and eps of $3.09 for Q3 2025.
Did Ligand Pharmaceuticals beat estimates in Q3 2025?
Revenue beat the consensus estimate of $55.6M by $59.9M. EPS beat the consensus estimate of $1.97 by $1.12.
How did Ligand Pharmaceuticals's Q3 2025 results compare year-over-year?
Compared to the same quarter a year prior, revenue grew 122.8% from $51.8M a year earlier.
Where can I find Ligand Pharmaceuticals's Q3 2025 SEC filings?
You can read the 8-K earnings release (0000886163-25-000058) and the 10-Q periodic report (0000886163-25-000063) directly on SEC EDGAR. The filing index links above go to sec.gov.