ZVRA

MKT CAP:$596M

Zevra Therapeutics, Inc.

Market Cap

$596M

Healthcare·Biotechnology·🇺🇸 United States·NASDAQ

Healthcare·Biotechnology·🇺🇸·NASDAQ

Stock Price

$10.76+$2.42 (+29.02%)

Apr 21, 2026

Company Details

Zevra Therapeutics, Inc., a rare disease company melding science, discovers and develops various proprietary prodrugs to treat serious medical conditions in the United States. The company utilizes its Ligand Activated Therapy technology to ...

CEO

Neil F. McFarlane

IPO Date

Apr 16, 2015

Website

zevra.com

Key Metrics TTM

Revenue

$106M

+350.9% YoY

Net Income

$83M

EPS (Diluted)

$1.50

Free Cash Flow

-$2M

Revenue / Share

$1.86

Gross Margin

80.7%

Operating Margin

-59.1%

Net Margin

78.2%

FCF Margin

-2.3%

P/S

5.6x

P/E

7.2x

Earnings Reports

Q1 2026

May 12, 2026

PENDING

FY 2025

Mar 9, 2026

$106M+350.9%EPS $1.35

Q4 2025

Mar 9, 2026

$34M+183.4%EPS $0.20

Q3 2025

Nov 5, 2025

$26M+605.4%EPS -$0.01

Q2 2025

Aug 12, 2025

$26M+481.7%EPS $1.36

Revenue & Profitability

Quarter	Revenue	Gross Profit	Operating Income
Q3 21	$2M	$2M	-$2M
Q4 21	$3M	$3M	-$3M
Q1 22	$4M	$4M	-$2M
Q2 22	$1M	$1M	-$25M
Q3 22	$3M	$3M	-$7M
Q1 23	$3M	$3M	-$13M
Q2 23	$8M	$8M	-$6M
Q4 23	$13M	$10M	-$15M
Q1 24	$3M	$160.0K	-$20M
Q2 24	$4M	$876.0K	-$24M
Q3 24	$4M	$1M	-$27M
Q4 24	$12M	$11M	-$15M
Q1 25	$20M	$19M	-$5M
Q2 25	$26M	$14M	-$71M
Q3 25	$26M	$25M	$4M
Q4 25	$34M	$29M	$9M

Valuation

Quarter	P/S	P/E
Q3 21	11.8x	—
Q4 21	11.2x	—
Q1 22	8.6x	—
Q2 22	16.4x	—
Q3 22	20.1x	—
Q1 23	16.6x	—
Q2 23	11.2x	—
Q4 23	9.6x	—
Q1 24	7.6x	—
Q2 24	7.3x	—
Q3 24	13.0x	—
Q4 24	16.1x	—
Q1 25	8.5x	—
Q2 25	7.7x	180.3x
Q3 25	6.2x	14.8x
Q4 25	4.5x	5.8x

Operating Cash Flow

Quarter	Operating CF	Free CF
Q3 21	-$3M	-$3M
Q4 21	-$848.0K	-$865.0K
Q1 22	-$3M	-$4M
Q2 22	-$4M	-$4M
Q3 22	-$7M	-$7M
Q1 23	-$4M	-$4M
Q2 23	-$9M	-$9M
Q4 23	-$16M	-$16M
Q1 24	-$16M	-$16M
Q2 24	-$19M	-$19M
Q3 24	-$18M	-$18M
Q4 24	-$16M	-$16M
Q1 25	-$8M	-$8M
Q2 25	-$4M	-$4M
Q3 25	$5M	$4M
Q4 25	$6M	$6M

Capital Expenditures

Quarter	CapEx
Q3 21	$4.0K
Q4 21	$17.0K
Q1 22	$16.0K
Q2 22	$15.0K
Q3 22	$28.0K
Q1 23	$29.0K
Q2 23	$23.0K
Q4 23	$72.0K
Q1 24	$0
Q2 24	$0
Q3 24	$0
Q4 24	$0
Q1 25	$99.0K
Q2 25	$213.0K
Q3 25	$554.0K
Q4 25	$31.0K

CapEx

OpEx vs Revenue Growth (YoY)

Quarter	Revenue Growth	OpEx Growth
Q3 21	+2.1%	+33.4%
Q4 21	+9.1%	-2.8%
Q1 22	-67.3%	+12.9%
Q2 22	-89.2%	+323.6%
Q3 22	+46.3%	+126.9%
Q1 23	+23.0%	+195.1%
Q2 23	+113.6%	+152.8%
Q4 23	+916.7%	+7.0%
Q1 24	+19.2%	+151.7%
Q2 24	+40.1%	+76.4%
Q3 24	-56.4%	+110.6%
Q4 24	-8.9%	-1.5%
Q1 25	+495.6%	+7.7%
Q2 25	+481.7%	+243.2%
Q3 25	+605.4%	-29.3%
Q4 25	+183.4%	-9.6%

Stock-Based Compensation

Quarter	SBC ($)	% of Revenue
Q3 21	$620.0K	31.6%
Q4 21	$823.0K	31.9%
Q1 22	$918.0K	23.2%
Q2 22	$2M	116.2%
Q3 22	$911.0K	31.7%
Q1 23	$945.0K	29.8%
Q2 23	$2M	25.4%
Q4 23	$3M	22.4%
Q1 24	$2M	61.9%
Q2 24	$3M	59.2%
Q3 24	$6M	166.1%
Q4 24	$4M	33.4%
Q1 25	$3M	15.3%
Q2 25	$2M	9.5%
Q3 25	$3M	10.6%
Q4 25	$4M	12.6%

OpEx Breakdown

Quarter	R&D	G&A	S&M	SG&A
Q3 21	$2M	$2M	—	—
Q4 21	$3M	$3M	—	—
Q1 22	$3M	$3M	—	—
Q2 22	$22M	$4M	—	—
Q3 22	$5M	$4M	—	—
Q1 23	$9M	—	—	$7M
Q2 23	$7M	—	—	$7M
Q4 23	$10M	—	—	$15M
Q1 24	$11M	—	—	$10M
Q2 24	$11M	$2M	$11M	—
Q3 24	$11M	—	—	$16M
Q4 24	$10M	$2M	$15M	—
Q1 25	$3M	—	—	$20M
Q2 25	$3M	—	—	$21M
Q3 25	$3M	—	—	$17M
Q4 25	$3M	—	—	$20M

War Chest

Quarter	Cash	Short-term Investments	Total
Q1 22	$100M	$1M	$102M
Q2 22	$77M	$4M	$81M
Q3 22	$70M	$6M	$76M
Q4 22	$65M	$17M	$83M
Q1 23	$40M	$55M	$95M
Q2 23	$66M	$21M	$87M
Q3 23	$43M	$40M	$83M
Q4 23	$43M	$25M	$68M
Q1 24	$43M	$10M	$53M
Q2 24	$39M	$10M	$49M
Q3 24	$54M	$35M	$89M
Q4 24	$34M	$36M	$69M
Q1 25	$37M	$25M	$63M
Q2 25	$48M	$155M	$203M
Q3 25	$54M	$145M	$200M
Q4 25	$62M	$129M	$191M

Shares Outstanding

Quarter	Shares (Diluted)	QoQ Change	YoY Change
Q3 21	35M	+20.7%	+695.8%
Q4 21	35M	+0.4%	+678.8%
Q1 22	35M	-2.4%	+80.2%
Q2 22	34M	-0.2%	+18.1%
Q3 22	34M	+0.1%	-2.1%
Q1 23	34M	-0.1%	-2.5%
Q2 23	34M	-1.6%	-1.8%
Q4 23	38M	+11.8%	+10.0%
Q1 24	42M	+10.2%	+21.1%
Q2 24	42M	+0.3%	+21.6%
Q3 24	48M	+14.1%	+41.0%
Q4 24	54M	+12.3%	+41.6%
Q1 25	54M	+0.8%	+29.5%
Q2 25	56M	+4.1%	+34.4%
Q3 25	56M	-0.7%	+17.0%
Q4 25	57M	+2.3%	+6.7%

Shares Outstanding

Revenue Per Employee

Period	Revenue/Employee	Employees
Q3 21	—	—
Q4 21	—	—
Q1 22	—	—
Q2 22	—	—
Q3 22	—	—
Q1 23	—	—
Q2 23	—	—
Q4 23	$191.6K	69
Q1 24	$49.6K	69
Q2 24	$64.5K	69
Q3 24	$53.6K	69
Q4 24	$204.1K	59
Q1 25	$345.8K	59
Q2 25	$438.7K	59
Q3 25	$441.7K	59
Q4 25	$17.1K	2K

Revenue / Employee