Ligand Pharmaceuticals Income Statement

Financials in millions USD. Fiscal year is January - December.

Millions USD. Fiscal year is Jan - Dec.

Fiscal Year	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Dec '25 Dec 31, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021
Revenue	268.09	167.13	131.31	196.25	241.54
Revenue Growth (YoY)	60.40%	27.28%	-33.09%	-18.75%	47.68%
Cost of Revenue	14.55	11.07	10.51	52.83	62.18
Gross Profit	253.54	156.06	120.8	143.42	179.37
Selling, General & Admin	92.45	78.65	52.79	70.06	46.79
Depreciation & Amortization Expenses	32.71	32.96	33.65	34.24	34.22
Research & Development	81.18	21.43	24.54	36.08	32.11
Other Operating Expenses	6.2	45.63	-	-	-37.6
Operating Income	41	-22.61	9.82	3.04	103.85
Interest Income	13.66	8.06	7.71	2.05	0.89
Interest Expense	-4.72	-3.04	-0.66	-1.8	-19.62
Other Non-Operating Income (Expense)	117.96	25.12	51.72	32.97	-31.65
Total Non-Operating Income (Expense)	126.9	30.14	58.77	33.22	-50.38
Pretax Income	167.9	7.54	68.59	36.26	53.47
Provision for Income Taxes	-34.51	-6.55	-9.84	-41.23	4.15
Net Income	124.45	-4.03	52.15	-33.36	57.14
Earnings From Discontinued Operations	-	-	-1.67	-28.14	-19.22
Net Income to Common	124.45	-4.03	52.15	-33.36	57.14
Shares Outstanding (Basic)	19	18	17	17	17
Shares Outstanding (Diluted)	20	18	18	17	17
Shares Change (YoY)	10.96%	3.00%	5.27%	-2.19%	2.50%
EPS (Basic)	6.44	-0.22	3.02	-0.31	3.44
EPS (Diluted)	6.13	-0.22	2.94	-0.31	3.31
EPS Growth	-	-	-	-	748.72%
Free Cash Flow	48.91	95.23	46.06	119.93	70.04
Free Cash Flow Growth	-48.64%	106.76%	-61.60%	71.23%	39.72%
Free Cash Flow Per Share	2.41	5.21	2.59	7.11	4.06
Gross Margin	94.57%	93.37%	91.99%	73.08%	74.26%
Operating Margin	15.29%	-13.53%	7.48%	1.55%	42.99%
Profit Margin	46.42%	-2.41%	40.98%	-2.66%	31.61%
FCF Margin	18.24%	56.98%	35.07%	61.11%	29.00%
EBITDA	74.78	12.63	46.34	54.57	154.92
EBITDA Margin	27.89%	7.56%	35.29%	27.81%	64.14%
EBIT	41	-22.61	9.82	3.04	103.85
EBIT Margin	15.29%	-13.53%	7.48%	1.55%	42.99%
Effective Tax Rate	-20.55%	-86.92%	-14.35%	-113.71%	7.76%

Updated Dec 31, 2025. Data Source: Fiscal.ai. Standard template. Financial Sources.