EarningsQ4 2025 Earnings Report
MX:PHM1N Q4 2025 EPS Results
Actual EPS$67.15
Consensus EPS$61.81
Beat/MissBeat by +$5.34
One Year Ago EPS$21.04
MX:PHM1N Q4 2025 Revenue Results
Actual Revenue$1.82B
Expected Revenue$1.77B
Beat/MissBeat by +$53.30M
YoY Revenue Growth+87.08%
Earnings Announcement Details
QuarterQ4 2025
Date02/27/2026
TimeTBA
Conference CallFriday, February 27, 2026
MX:PHM1N Upcoming Earnings
Pharma Mar SA's next earnings date is estimated for November 4, 2026, based on past reporting schedules.
Q4 2025 Earnings Call Audio
MX:PHM1N Q4 2025 Earnings Call
0:00 / 0:00
Q4 2025 Earnings Slide Deck
No slide deck is available for this earnings event.
Q4 2025 Earnings Call Summary
Earnings Call Sentiment|Positive
The call communicated a strong set of financial results and clear strategic progress—notably robust revenue growth (+27% y/y), a material improvement in profitability (EBITDA ~5x; net income +187%), healthy cash generation (EUR 53m) and multiple regulatory/commercial advances for Zepzelca and other assets. Pipeline momentum (LAGOON, SaLuDo, PM54, PM534) and licensing deals (e.g., Merck for Japan) provide additional upside. Offsetting factors include a 12% decline in U.S. Zepzelca royalties driven by FX and competition, outstanding pricing/reimbursement negotiations in Europe, exposure to partner-controlled disclosures, generics risk for Yondelis, and planned increases in commercial spending. Overall, positive operational and financial trends materially outweigh the identified risks, though execution on European launches and partner dynamics will be key to sustaining momentum.Company Guidance
Strong Top-Line Growth
Total revenues grew 27% year-on-year in 2025, driven by increased sales, royalties and licensing income (sales +20%, royalties +4%, licensing revenues +66%).
Major Profitability Improvement
EBITDA reached approximately EUR 68 million (~5x the 2024 level) and net income increased 187% year-on-year to EUR 75 million.
Cash Generation and Balance Sheet Strength
Operating cash flow of EUR 53 million; year-end cash and financial investments of EUR 168 million while net debt remained at levels similar to 2024, supporting ongoing projects and optional capital allocation (EUR 34 million spent on share buybacks in 2025).
Regulatory and Commercial Milestones for Zepzelca
U.S. approval in October 2025 for first-line maintenance use; approval also obtained in Switzerland; European regulatory dossier submitted with EMA opinion expected in Q1 2026 and potential commercial launches in some EU countries in H2 2026.
Commercial Momentum for Key Products
Zepzelca growth observed in Switzerland and France (+31% cited for France/early use model); Yondelis raw material sales to partners up 20% and Yondelis royalties in the U.S. more than doubled versus 2024; Yondelis unit sales in Europe grew ~4% despite generic entrants.
Clinical Pipeline Progress and Upcoming Catalysts
Pivotal trials LAGOON and SaLuDo progressing on schedule (LAGOON top-line expected H2 2026; SaLuDo enrollment completion H1 2026, results H1 2027). PM54 reached recommended dose; IND cleared for PM54 combination trial with immunotherapy and trial start expected in H1 2026. PM534 in dose escalation with planned expansion in H2 2026.
MX:PHM1N 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