EarningsQ4 2025 Earnings Report
MX:OGN Q4 2025 EPS Results
Actual EPS$11.44
Consensus EPS$13.20
Beat/MissMissed by -$1.76
One Year Ago EPS$16.34
MX:OGN Q4 2025 Revenue Results
Actual Revenue$27.37B
Expected Revenue$27.87B
Beat/MissMissed by -$504.54M
YoY Revenue Growth-5.34%
Earnings Announcement Details
QuarterQ4 2025
Date02/12/2026
TimeBefore Open
Conference CallThursday, February 12, 2026
MX:OGN Upcoming Earnings
Organon's next earnings date is estimated for October 29, 2026, based on past reporting schedules.
Q4 2025 Earnings Call Audio
MX:OGN Q4 2025 Earnings Call
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Q4 2025 Earnings Slide Deck
Q4 2025 Earnings Call Summary
Earnings Call Sentiment|Neutral
The call presents a mixed picture: several strong, tangible positives (stable full-year guidance, robust biosimilars growth—Hadlima +61% ex-FX—Vtama/Emgality momentum, >$200M cost savings, $960M free cash flow, $390M Jada divestiture and active deleveraging). Offsetting these are meaningful near-term commercial and margin headwinds (revenue down ~3% FY, Q4 -8% CC; Nexplanon channel and policy impacts with Q4 Nexplanon -20% ex-FX; respiratory pricing pressure; gross margin deterioration and a Q4 goodwill impairment), plus some governance/uncertainty from unresolved audit matters. Management expects flat 2026 results and continued focus on cost discipline and balance sheet repair, but several execution and market risks remain.Company Guidance
Annual Revenue and Adjusted EBITDA (2025) and 2026 Guidance
Organon delivered $6.2 billion of revenue and $1.9 billion of adjusted EBITDA in 2025 (revenue down ~3% year-over-year reported and ex-FX). Management guides to roughly flat results for 2026 (about $6.2B revenue and ~$1.9B adjusted EBITDA), signaling stability at current run-rate.
Strong Biosimilars Performance (Hadlima & New Launches)
Hadlima grew ~61% ex-FX globally in 2025. Biosimilars benefited from new denosumab launches and the Tofidence acquisition; management expects biosimilars to deliver flat to modest growth in 2026 as new assets offset declines in Ontruzan and Renflexis.
Vtama, Emgality and Fertility Growth Offsetting Other Headwinds
Vtama delivered $128 million of global revenue in 2025. Emgality and the fertility business showed strong growth (fertility +8% ex-FX full year), and together these products helped offset LOE and respiratory pressure.
Nexplanon Regulatory Milestone — 3 to 5 Year Approval
FDA approved sNDA extending Nexplanon duration from 3 to 5 years, expanding addressable market (including higher-BMI populations) and adding a new REMS program — a meaningful product-level strategic win for long-term growth.
Material Cost Savings and Margin Management
Organon achieved over $200 million in cost savings in 2025 (reference to a ~$275M gross cost takeout target). Adjusted EBITDA margin for the full year remained ~30.7%, essentially flat with 2024 despite ~150 bps gross margin degradation, reflecting successful cost control.
Free Cash Flow, Divestiture and Deleveraging Progress
Generated $960 million of free cash flow in 2025 (consistent with prior year). Divested the Jada system for ~ $390 million net proceeds (completed Jan 2026) and retired ~ $530 million of debt in 2025. Net leverage was ~4.3x year-end with management targeting below 4.0x by end-2026.
Operational Actions to Prioritize Balance Sheet
Company lowered dividend payout ratio to accelerate debt reduction, discontinued early-stage clinical programs and limited certain R&D investments to preserve capital and focus on marketed products.
MX:OGN Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed