LIGAND PHARMACEUTICALS INCLGNDEarnings & Financial Report
Ligand Pharmaceuticals is an American biopharmaceutical company that focuses on acquiring and developing royalty-generating assets. As of 2024, the company's portfolio included royalty rights to approximately 90 pharmaceutical products across a range of therapeutic areas. Notable products from which Ligand receives royalties include the multiple myeloma (cancer) treatments Kyprolis and Evomela, the kidney disease therapy Filspari, and the pneumococcal vaccine Vaxneuvance. The company also own...
Revenue
$41.5M
Gross Profit
N/A
Operating Profit
$-19.1M
Net Profit
$-51.9M
Gross Margin
N/A
Operating Margin
-46.0%
Net Margin
-125.0%
YoY Growth
57.5%
EPS
$-2.88
LIGAND PHARMACEUTICALS INC Q2 FY2024 Financial Summary
LIGAND PHARMACEUTICALS INC reported revenue of $41.5M (up 57.5% YoY) for Q2 FY2024, with a net profit of $-51.9M (down 2366.9% YoY) (-125.0% margin).
Key Financial Metrics
| Total Revenue | $41.5M |
|---|---|
| Net Profit | $-51.9M |
| Gross Margin | N/A |
| Operating Margin | -46.0% |
| Report Period | Q2 FY2024 |
Revenue Breakdown
LIGAND PHARMACEUTICALS INC Q2 FY2024 revenue of $41.5M breaks down across 4 segments, led by Intangible Royalty Assets at $22.6M (54.4% of total).
| Segment | Revenue | % of Total |
|---|---|---|
| Intangible Royalty Assets | $22.6M | 54.4% |
| Kyprolis | $9.0M | 21.7% |
| Material Sales Captisol | $7.5M | 18.1% |
| Evomela | $2.7M | 6.6% |
LIGAND PHARMACEUTICALS INC Revenue by Segment — Quarterly Trend
LIGAND PHARMACEUTICALS INC revenue by segment across the last 4 reported quarters, showing how each business line (such as Intangible Royalty Assets and Kyprolis) has evolved quarter over quarter.
| Segment | Q4 FY2025 | Q3 FY2025 | Q2 FY2025 | Q1 FY2025 |
|---|---|---|---|---|
| Intangible Royalty Assets | $40.7M | — | $30.1M | $21.6M |
| Kyprolis | — | $11.6M | — | — |
| Material Sales Captisol | $7.8M | $10.7M | — | $13.5M |
| Evomela | — | — | — | $2.0M |
LIGAND PHARMACEUTICALS INC Annual Revenue by Year
LIGAND PHARMACEUTICALS INC annual revenue history includes year-by-year totals (for example, 2025 revenue was $268.1M).
| Year | Annual Revenue |
|---|---|
| 2025 | $268.1M |
| 2024 | $167.1M |
| 2023 | $131.3M |
| 2022 | $196.2M |
LIGAND PHARMACEUTICALS INC Quarterly Revenue & Net Profit History
LIGAND PHARMACEUTICALS INC results over the last 8 reported quarters, including revenue, net profit and year-over-year growth.
| Quarter | Revenue | Revenue YoY | Net Profit | Net Margin |
|---|---|---|---|---|
| Q4 FY2025 | $59.7M | +39.4% | $44.8M | 75.1% |
| Q3 FY2025 | $115.5M | +122.8% | $117.3M | 101.6% |
| Q2 FY2025 | $47.6M | +14.7% | $4.8M | 10.2% |
| Q1 FY2025 | $45.3M | +46.3% | $-42.5M | -93.6% |
| Q4 FY2024 | $42.8M | +52.4% | $-31.1M | -72.6% |
| Q3 FY2024 | $51.8M | +57.6% | $-7.2M | -13.8% |
| Q2 FY2024 | $41.5M | +57.5% | $-51.9M | -125.0% |
| Q1 FY2024 | $31.0M | -29.6% | $86.1M | 278.1% |
Income Statement
| Q1 2024 | Q2 2024 | Q3 2024 | Q4 2024 | Q1 2025 | Q2 2025 | Q3 2025 | Q4 2025 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | $31.0M | $41.5M | $51.8M | $42.8M | $45.3M | $47.6M | $115.5M | $59.7M |
| YoY Growth | -29.6% | 57.5% | 57.6% | 52.4% | 46.3% | 14.7% | 122.8% | 39.4% |
Balance Sheet
| Q1 2024 | Q2 2024 | Q3 2024 | Q4 2024 | Q1 2025 | Q2 2025 | Q3 2025 | Q4 2025 | |
|---|---|---|---|---|---|---|---|---|
| Assets | $913.9M | $866.4M | $954.9M | $941.8M | $905.4M | $948.6M | $1.48B | $1.56B |
| Liabilities | $107.3M | $91.2M | $113.7M | $111.3M | $109.9M | $120.1M | $526.6M | $543.4M |
| Equity | $806.5M | $775.2M | $841.2M | $830.4M | $795.5M | $828.5M | $950.2M | $1.02B |
Cash Flow
| Q1 2024 | Q2 2024 | Q3 2024 | Q4 2024 | Q1 2025 | Q2 2025 | Q3 2025 | Q4 2025 | |
|---|---|---|---|---|---|---|---|---|
| Operating CF | $18.7M | $13.3M | $36.5M | $28.5M | $-25.4M | $15.8M | $13.1M | $45.9M |