CORT

MKT CAP:$5B

Corcept Therapeutics Incorporated

Market Cap

$5B

Healthcare·Biotechnology·🇺🇸 United States·NASDAQ

Healthcare·Biotechnology·🇺🇸·NASDAQ

Stock Price

$46.19+$7.98 (+20.90%)

Apr 22, 2026

Company Details

Corcept Therapeutics Incorporated discovers, develops, and commercializes drugs for the treatment of severe metabolic, oncologic, and neuropsychiatric disorders in the United States. The company offers Korlym (mifepristone) tablets as a onc...

CEO

Joseph K. Belanoff

IPO Date

Apr 14, 2004

Website

www.corcept.com

Key Metrics TTM

Revenue

$767M

+46.4% YoY

Net Income

$132M

EPS (Diluted)

$1.12

Free Cash Flow

$230M

Revenue / Share

$6.42

Gross Margin

98.2%

Operating Margin

14.2%

Net Margin

17.2%

FCF Margin

30.0%

P/S

6.4x

P/E

37.4x

Earnings Reports

Q4 2025

May 4, 2026

PENDING

Q3 2025

Nov 4, 2025

$208M+13.7%EPS $0.16

Q2 2025

Jul 31, 2025

$194MEPS $0.29

Q4 2024

Feb 26, 2025

$182M+34.3%EPS $0.26

Q3 2024

Oct 30, 2024

$183M+47.7%EPS $0.41

Revenue & Profitability

Quarter	Revenue	Gross Profit	Operating Income
Q2 21	$92M	$90M	$32M
Q3 21	$96M	$95M	$36M
Q4 21	$99M	$97M	$37M
Q1 22	$94M	$92M	$27M
Q2 22	$103M	$102M	$31M
Q3 22	$102M	$100M	$32M
Q4 22	$103M	$102M	$22M
Q1 23	$106M	$104M	$15M
Q2 23	$118M	$116M	$30M
Q3 23	$124M	$122M	$31M
Q4 23	$135M	$134M	$32M
Q1 24	$147M	$144M	$30M
Q3 24	$183M	$180M	$47M
Q4 24	$182M	$179M	$25M
Q2 25	$194M	$191M	$27M
Q3 25	$208M	$203M	$10M

Valuation

Quarter	P/S	P/E
Q2 21	7.8x	27.3x
Q3 21	6.8x	22.5x
Q4 21	6.3x	20.6x
Q1 22	7.2x	24.4x
Q2 22	7.3x	25.4x
Q3 22	7.1x	24.0x
Q4 22	5.5x	21.8x
Q1 23	5.5x	24.3x
Q2 23	5.3x	23.8x
Q3 23	6.0x	29.5x
Q4 23	5.9x	26.6x
Q1 24	5.1x	22.4x
Q3 24	8.1x	34.8x
Q4 24	8.1x	38.6x
Q2 25	10.8x	54.6x
Q3 25	11.4x	66.4x

Operating Cash Flow

Quarter	Operating CF	Free CF
Q2 21	$44M	$44M
Q3 21	$49M	$49M
Q4 21	$49M	$49M
Q1 22	$35M	$35M
Q2 22	$18M	$18M
Q3 22	$34M	$33M
Q4 22	$33M	$33M
Q1 23	$26M	$26M
Q2 23	$42M	$42M
Q3 23	$53M	$53M
Q4 23	$6M	$6M
Q1 24	$24M	$24M
Q3 24	$74M	$72M
Q4 24	$59M	$59M
Q2 25	$44M	$44M
Q3 25	$54M	$54M

Capital Expenditures

Quarter	CapEx
Q2 21	$119.0K
Q3 21	$159.0K
Q4 21	$65.0K
Q1 22	$12.0K
Q2 22	$19.0K
Q3 22	$351.0K
Q4 22	$31.0K
Q1 23	$0
Q2 23	$102.0K
Q3 23	$37.0K
Q4 23	$0
Q1 24	$0
Q3 24	$2M
Q4 24	$121.0K
Q2 25	$57.0K
Q3 25	$0

CapEx

OpEx vs Revenue Growth (YoY)

Quarter	Revenue Growth	OpEx Growth
Q2 21	+3.4%	+11.9%
Q3 21	+11.4%	-2.8%
Q4 21	+15.3%	+12.6%
Q1 22	+17.9%	+11.9%
Q2 22	+12.9%	+20.6%
Q3 22	+5.8%	+16.5%
Q4 22	+4.3%	+29.6%
Q1 23	+12.8%	+35.7%
Q2 23	+13.9%	+22.5%
Q3 23	+21.5%	+32.4%
Q4 23	+31.4%	+28.8%
Q1 24	+39.0%	+29.2%
Q3 24	+55.1%	+54.3%
Q4 24	+47.2%	+69.5%
Q2 25	+43.6%	+61.7%
Q3 25	+41.4%	+68.3%

Stock-Based Compensation

Quarter	SBC ($)	% of Revenue
Q2 21	$11M	12.1%
Q3 21	$11M	11.4%
Q4 21	$11M	10.9%
Q1 22	$11M	11.5%
Q2 22	$11M	10.3%
Q3 22	$11M	10.4%
Q4 22	$11M	10.2%
Q1 23	$11M	10.5%
Q2 23	$12M	10.1%
Q3 23	$13M	10.4%
Q4 23	$13M	9.6%
Q1 24	$13M	9.0%
Q3 24	$0	0.0%
Q4 24	$17M	9.2%
Q2 25	$19M	9.8%
Q3 25	$0	0.0%

OpEx Breakdown

Quarter	R&D	SG&A
Q2 21	$28M	$30M
Q3 21	$28M	$31M
Q4 21	$29M	$32M
Q1 22	$28M	$38M
Q2 22	$33M	$38M
Q3 22	$33M	$35M
Q4 22	$37M	$42M
Q1 23	$41M	$49M
Q2 23	$43M	$43M
Q3 23	$46M	$45M
Q4 23	$55M	$47M
Q1 24	$59M	$56M
Q3 24	$59M	$74M
Q4 24	$70M	$83M
Q2 25	$60M	$104M
Q3 25	$69M	$124M

War Chest

Quarter	Cash	Short-term Investments	Total
Q1 22	$62M	$284M	$346M
Q2 22	$35M	$335M	$370M
Q3 22	$50M	$346M	$396M
Q4 22	$66M	$365M	$432M
Q1 23	$300M	$165M	$465M
Q2 23	$172M	$191M	$363M
Q3 23	$112M	$243M	$355M
Q4 23	$136M	$233M	$368M
Q1 24	$150M	$261M	$411M
Q2 24	$129M	$345M	$473M
Q3 24	$137M	$243M	$380M
Q4 24	$128M	$256M	$383M
Q1 25	$90M	$233M	$323M
Q2 25	$103M	$239M	$342M
Q3 25	$125M	$297M	$422M
Q4 25	$120M	$252M	$372M

Shares Outstanding

Quarter	Shares (Diluted)	QoQ Change	YoY Change
Q2 21	127M	-2.3%	+2.8%
Q3 21	125M	-1.2%	+0.5%
Q4 21	122M	-2.2%	-3.9%
Q1 22	115M	-6.0%	-11.3%
Q2 22	115M	+0.3%	-8.9%
Q3 22	117M	+1.1%	-6.8%
Q4 22	116M	-0.3%	-5.0%
Q1 23	115M	-0.8%	+0.3%
Q2 23	110M	-5.1%	-5.0%
Q3 23	111M	+1.4%	-4.7%
Q4 23	111M	-0.2%	-4.7%
Q1 24	110M	-0.9%	-4.8%
Q3 24	114M	+3.5%	+3.8%
Q4 24	118M	+4.2%	+6.6%
Q2 25	120M	+1.7%	+8.7%
Q3 25	119M	-0.9%	+8.7%

Shares Outstanding

Revenue Per Employee

Period	Revenue/Employee	Employees
Q2 21	$388.1K	236
Q3 21	$407.3K	236
Q4 21	$415.2K	238
Q1 22	$393.6K	238
Q2 22	$434.4K	238
Q3 22	$427.4K	238
Q4 22	$344.7K	299
Q1 23	$353.4K	299
Q2 23	$393.7K	299
Q3 23	$413.4K	299
Q4 23	$384.7K	352
Q1 24	$417.1K	352
Q3 24	$518.6K	352
Q4 24	$363.8K	500
Q2 25	$388.9K	500
Q3 25	$415.3K	500

Revenue / Employee