LGND Q4 2025 Earnings — Ligand Pharmaceuticals Incorporated Revenue & Financial Results | Market Cap Arena

LGNDLigand Pharmaceuticals Incorporated

$4B

Q4 2025 Earnings

Healthcare Biotechnology

Income Statement

Revenue

$60M+39.4% YoY

Gross Profit

$86M143.6% margin

Operating Income

$20M33.6% margin

Net Income

$45M75.1% margin

EPS (Diluted)

$2.12

QoQ Revenue Growth

-48.3%

Cash Flow

Operating Cash Flow

$46M

Free Cash Flow

$46M

Stock-Based Comp.

$14M

Balance Sheet

Total Assets

$1.6B

Total Liabilities

$543M

Stockholders' Equity

$1.0B

Cash & Equivalents

$175M

Year-over-Year Comparison

Metric	Current	Year Ago	Change
Revenue	$60M	$43M	+39.4%
Gross Profit	$86M	$40M	+114.3%
Operating Income	$20M	-$10M	+307.9%
Net Income	$45M	-$31M	+244.1%

Revenue Segments

Contract Revenue

$67M40%

Royalty

$51M30%

Intangible Royalty Assets

$41M24%

Financial Royalty Assets

$10M6%