NBIX FY 2025 Earnings Report — Neurocrine Biosciences, Inc. Revenue & Financial Results | Market Cap Arena

Neurocrine Biosciences, Inc.NBIX

FY 2025 Earnings

Reported February 11, 2026

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	FY 2025	Prior Q	FY 2024	QoQ Change	YoY Change
Revenue	$2.9B	—	$2.4B	—	21.4%
Op. Income	$619M	—	$571M	—	8.5%
Gross Margin	98.2%	—	98.6%	—	-0.4pp
Net Margin	16.7%	—	14.5%	—	2.2pp
EPS (Diluted)	$4.67	—	$3.29	—	41.9%
Free Cash Flow	$749M	—	$557M	—	34.4%

Revenue Flow

Item	Amount
REVENUE	$2.9B
Cost of Revenue	$52M
GROSS PROFIT	$2.8B
R&D Expenses	$1.0B
Selling & Marketing	$0
General & Administrative	$0
SG&A Expenses	$1.2B
Other Expenses	$17M
Operating Expenses	$2.2B
Cost & Expenses	$2.2B
OPERATING INCOME	$619M
Interest Income	$90M
Interest Expense	$0
Other Income/Expenses	$86M
INCOME BEFORE TAX	$705M
Income Tax Expense	$227M
Net Income from Continuing Ops	$479M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$479M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$479M
D&A	$30M
EBIT	$637M
EBITDA	$667M
EPS	$5
EPS Diluted	$5

Income Statement

Item	Amount
REVENUE	$2.9B
Cost of Revenue	$52M
GROSS PROFIT	$2.8B
R&D Expenses	$1.0B
Selling & Marketing	$0
General & Administrative	$0
SG&A Expenses	$1.2B
Other Expenses	$17M
Operating Expenses	$2.2B
Cost & Expenses	$2.2B
OPERATING INCOME	$619M
Interest Income	$90M
Interest Expense	$0
Other Income/Expenses	$86M
INCOME BEFORE TAX	$705M
Income Tax Expense	$227M
Net Income from Continuing Ops	$479M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$479M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$479M
D&A	$30M
EBIT	$637M
EBITDA	$667M
EPS	$5
EPS Diluted	$5

Cash Flow Statement

Item	Amount
Net Income	$479M
Depreciation & Amortization	$30M
Stock-Based Compensation	$218M
Deferred Income Tax	$165M
Other Non-Cash Items	$20M
Change in Working Capital	-$129M
OPERATING CASH FLOW	$783M
Capital Expenditure	-$34M
Acquisitions (Net)	$0
Purchases of Investments	-$1.3B
Sales/Maturities of Investments	$1.1B
Other Investing Activities	$0
NET CASH FROM INVESTING	-$264M
Net Debt Issuance	$0
Common Stock Repurchased	-$168M
Common Dividends Paid	$0
Other Financing Activities	$0
NET CASH FROM FINANCING	-$38M
FREE CASH FLOW	$749M
Net Change in Cash	$480M

Balance Sheet

Item	Amount
Cash & Equivalents	$713M
Short-Term Investments	$767M
Net Receivables	$687M
Inventory	$69M
Other Current Assets	$287M
TOTAL CURRENT ASSETS	$2.5B
PP&E (Net)	$545M
Goodwill	$0
Intangible Assets	$0
Long-Term Investments	$1.2B
Tax Assets	$320M
Other Non-Current Assets	$60M
TOTAL NON-CURRENT ASSETS	$2.1B
TOTAL ASSETS	$4.6B
Account Payables	$105M
Short-Term Debt	$0
Deferred Revenue	$0
Other Current Liabilities	$424M
TOTAL CURRENT LIABILITIES	$743M
Long-Term Debt	$0
Deferred Revenue NC	$0
Deferred Tax Liabilities	$0
Other Non-Current Liabilities	$220M
TOTAL NON-CURRENT LIABILITIES	$635M
TOTAL LIABILITIES	$1.4B
Common Stock	$100.0K
Additional Paid-In Capital	$2.8B
Retained Earnings	$448M
Treasury Stock	$0
Accum. Other Comp. Income	$13M
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$3.3B
Minority Interest	$0
TOTAL EQUITY	$3.3B
TOTAL LIABILITIES & EQUITY	$4.6B
Total Debt	$415M
Net Debt	-$298M