LIGAND PHARMACEUTICALS INCORPORATED
Income Statement
| Line Item | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 |
|---|---|---|---|---|---|---|---|---|
| Revenue | $268.1M | $167.1M | $131.3M | $196.2M | $241.5M | $163.6M | $120.3M | $251.5M |
| Cost of Revenue | — | — | — | — | — | — | — | $6.3M |
| Gross Profit | — | — | — | — | — | — | — | $245.1M |
| Gross Margin | — | — | — | — | — | — | — | 97.5% |
| Operating Expenses | ||||||||
| Research & Development | $81.2M | $21.4M | $24.5M | $36.1M | $32.1M | $40.5M | $55.9M | $27.9M |
| SG&A Expense | $92.4M | $78.7M | $52.8M | $70.1M | $46.8M | $60.0M | $41.9M | $37.7M |
| Operating Income | $41.0M | $-22.6M | $11.9M | $3.0M | $103.9M | $37.5M | $807.1M | $163.7M |
| Operating Margin | 15.3% | -13.5% | 9.1% | 1.5% | 43.0% | 22.9% | 671.0% | 65.1% |
| Interest Expense | — | — | $656.0K | $1.8M | $19.6M | $27.4M | $35.7M | $48.3M |
| Pretax Income | $159.0M | $2.5M | $63.7M | $36.0M | $72.2M | $1.3M | $796.6M | $173.3M |
| Income Tax Expense | $34.5M | $6.6M | $9.8M | $41.2M | $-4.1M | $-5.3M | $167.3M | $30.0M |
| Net Income | $124.5M | $-4.0M | $52.2M | $-33.4M | $57.1M | $-3.0M | $629.3M | $143.3M |
| Net Margin | 46.4% | -2.4% | 39.7% | -17.0% | 23.7% | -1.8% | 523.2% | 57.0% |
| EPS (Basic) | $6.44 | $-0.22 | $3.02 | $-1.98 | $3.44 | $-0.18 | $33.13 | $6.77 |
| EPS (Diluted) | $6.13 | $-0.22 | $2.94 | $-1.98 | $3.31 | $-0.18 | $31.85 | $5.96 |
| Shares Outstanding (Basic) | 19.3M | 18.3M | 17.3M | 16.9M | 16.6M | 16.2M | 19.0M | 21.2M |
| Shares Outstanding (Diluted) | 20.3M | 18.3M | 17.8M | 16.9M | 17.2M | 16.8M | 19.8M | 24.1M |
| Dividends Per Share | — | — | — | — | — | — | — | — |