Axsome Therapeutics, Inc. (AXSM) Income Statement
AXSM 2025 at a glance
Fiscal year ended December 31, 2025 · U.S. dollarsAXSM revenue and net income
Where AXSM's revenue goes
2025Each bar shows an amount and its share of revenue. AXSM kept −28.7% of revenue as net income.
AXSM profit margins
AXSM growth rates
to 2025| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Revenue | +65.5% | +133.7% | — | — |
| Gross profit | +67.7% | +136.2% | — | — |
| Operating income | — | — | — | — |
| Net income | — | — | — | — |
| EPS (diluted) | — | — | — | — |
1-year change and average annual growth (CAGR) over 3, 5 and 10 fiscal years. "—" when a starting value was zero or negative.
AXSM quarterly EPS vs estimates
Axsome Therapeutics beat the analyst EPS estimate in 5 of the last 8 quarters. Next report: November 2, 2026 (estimate $-0.65).
AXSM income statement
| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $638.5M | $385.7M | $270.6M | $50.0M | $8.8M | $0 | $0 | $0 | $0 | $0 |
| Cost of revenue | $47.5M | $33.3M | $26.1M | $5.2M | $1.2M | $77,718 | $37,330 | $48,935 | $42,557 | $20,484 |
| Gross profit | $591.0M | $352.4M | $244.5M | $44.8M | −$1.2M | −$77,718 | −$37,330 | −$48,935 | −$42,557 | −$20,484 |
| Research & development | $183.3M | $187.1M | $97.9M | $57.9M | $58.1M | $70.2M | $53.6M | $23.5M | $20.0M | $21.2M |
| Sales, general & admin | $570.6M | $411.4M | $323.1M | $159.3M | $66.6M | $28.9M | $13.6M | $9.4M | $7.2M | $6.3M |
| Total operating expenses | $760.3M | $633.0M | $476.4M | $224.6M | $124.7M | $99.1M | $67.1M | $32.8M | $27.2M | $27.5M |
| Operating income | −$169.2M | −$280.6M | −$231.8M | −$179.8M | −$124.7M | −$99.1M | −$67.2M | −$32.8M | −$27.2M | −$27.5M |
| Interest income | — | — | — | — | — | — | $1.2M | $1.7M | $2.0M | $132,420 |
| Interest expense | $6.6M | $6.6M | $6.5M | $7.3M | $5.7M | $2.6M | $1.2M | $1.1M | $1.3M | $132,424 |
| Income before taxes | −$183.7M | −$287.1M | −$238.3M | −$187.1M | −$130.4M | −$102.9M | −$68.3M | −$31.0M | −$28.9M | −$27.2M |
| Income taxes | −$530,000 | $85,000 | $960,000 | $10.6M | $4.5M | $2.5M | $1.3M | $3.0M | $1.3M | $586,219 |
| Net income | −$183.2M | −$287.2M | −$239.2M | −$187.1M | −$134.9M | −$102.9M | −$68.3M | −$31.0M | −$28.9M | −$27.2M |
| EBITDA | −$168.1M | −$272.6M | −$225.0M | −$175.4M | −$123.6M | −$100.3M | −$67.2M | −$32.6M | −$27.8M | −$27.5M |
| EPS (diluted) | −$3.69 | −$5.99 | −$5.20 | −$4.57 | −$3.47 | −$2.73 | −$2.00 | −$1.24 | −$1.29 | −$1.43 |
| Gross margin | 92.6% | 91.4% | 90.4% | 89.6% | −13.1% | — | — | — | — | — |
| Operating margin | −26.5% | −72.7% | −85.7% | −359.3% | −1,413.9% | — | — | — | — | — |
| Net margin | −28.7% | −74.5% | −88.4% | −374.0% | −1,530.0% | — | — | — | — | — |
| Jun '26 | Mar '26 | Dec '25 | Sep '25 | Jun '25 | Mar '25 | Dec '24 | Sep '24 | Jun '24 | Mar '24 | Dec '23 | Sep '23 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $218.4M | $191.2M | $196.0M | $171.0M | $150.0M | $121.5M | $118.8M | $104.8M | $87.2M | $75.0M | $71.5M | $57.8M |
| Cost of revenue | $13.6M | $14.7M | $12.3M | $11.9M | $13.4M | $9.8M | $10.5M | $8.4M | $8.1M | $6.3M | $7.4M | $6.5M |
| Gross profit | $204.8M | $176.5M | $183.7M | $159.1M | $136.6M | $111.7M | $108.3M | $96.3M | $79.1M | $68.7M | $64.2M | $51.3M |
| Research & development | $46.2M | $52.7M | $48.8M | $40.2M | $49.5M | $44.8M | $55.0M | $45.4M | $49.9M | $36.8M | $30.8M | $28.8M |
| Sales, general & admin | $208.1M | $185.0M | $169.3M | $150.2M | $94.3M | $120.8M | $87.1M | $95.6M | $103.6M | $99.0M | $86.8M | $83.2M |
| Total operating expenses | $254.5M | $239.8M | $213.1M | $205.2M | $173.3M | $168.7M | $180.9M | $158.9M | $157.2M | $136.0M | $162.4M | $113.4M |
| Operating income | −$49.6M | −$63.4M | −$29.4M | −$46.1M | −$36.7M | −$57.0M | −$72.6M | −$62.6M | −$78.0M | −$67.3M | −$98.3M | −$62.1M |
| Interest expense | $1.5M | $1.2M | $1.2M | $1.1M | $1.8M | $2.4M | $2.2M | $2.0M | $1.3M | $1.1M | $702,000 | $757,000 |
| Income before taxes | −$51.2M | −$64.5M | −$28.1M | −$47.2M | −$48.9M | −$59.4M | −$74.8M | −$64.6M | −$79.3M | −$68.4M | −$99.0M | −$62.9M |
| Income taxes | $128,000 | — | $430,000 | — | −$960,000 | — | $85,000 | — | — | $1 | −$325,000 | −$678,000 |
| Net income | −$51.3M | −$64.5M | −$28.6M | −$47.2M | −$48.0M | −$59.4M | −$74.9M | −$64.6M | −$79.3M | −$68.4M | −$98.7M | −$62.2M |
| EBITDA | −$46.8M | −$61.0M | −$24.7M | −$43.7M | −$42.6M | −$54.8M | −$70.5M | −$60.6M | −$76.1M | −$65.4M | −$96.5M | −$60.4M |
| EPS (diluted) | −$0.99 | −$1.26 | −$0.56 | −$0.94 | −$0.97 | −$1.22 | −$1.54 | −$1.34 | −$1.67 | −$1.44 | −$2.08 | −$1.32 |
| Gross margin | 93.8% | 92.3% | 93.7% | 93.0% | 91.0% | 91.9% | 91.1% | 91.9% | 90.8% | 91.6% | 89.7% | 88.7% |
| Operating margin | −22.7% | −33.1% | −15.0% | −27.0% | −24.5% | −46.9% | −61.1% | −59.8% | −89.5% | −89.7% | −137.4% | −107.5% |
| Net margin | −23.5% | −33.8% | −14.6% | −27.6% | −32.0% | −48.9% | −63.1% | −61.7% | −91.0% | −91.1% | −137.9% | −107.6% |
Quarterly columns are labeled by the month the quarter ended. Figures in U.S. dollars as reported in AXSM's financial statements (latest annual report filed February 23, 2026); data from EODHD. Sales, general & administrative expenses include sales and marketing.
AXSM financial results
In fiscal year 2025 (ended December 31, 2025), Axsome Therapeutics reported revenue of $638.5 million, up 65.5% from the year before. It had a net loss of $183.2 million, a net profit margin of −28.7%. Diluted earnings per share came to −$3.69.
See the AXSM stock overview for the latest quote and news, or the AXSM chart for price history and technical indicators.
AXSM income statement FAQ
What is Axsome Therapeutics's annual revenue?
Axsome Therapeutics reported total revenue of $638.5 million for fiscal year 2025, which ended on December 31, 2025. That was up 65.5% from $385.7 million the previous year.
Is Axsome Therapeutics profitable?
No. Axsome Therapeutics reported a net loss of $183.2 million in fiscal 2025, a net profit margin of −28.7%; its operating margin was −26.5%.
What is Axsome Therapeutics's gross margin?
Axsome Therapeutics's gross margin was 92.6% in fiscal 2025: for every $100 of revenue, Axsome Therapeutics kept $93 after the direct cost of its products and services.
How much does Axsome Therapeutics spend on research and development?
Axsome Therapeutics spent $183.3 million on research and development in fiscal 2025, 28.7% of revenue.
What are Axsome Therapeutics's earnings per share?
Axsome Therapeutics earned $-3.69 per diluted share in fiscal 2025, compared with $-5.99 a year earlier.
When will Axsome Therapeutics report its next earnings?
Axsome Therapeutics is expected to report results for the quarter ending September 30, 2026 on November 2, 2026 before the market opens.
When does Axsome Therapeutics's fiscal year end?
Axsome Therapeutics's fiscal year ends in December. The latest annual report covers the year ended December 31, 2025 and was filed on February 23, 2026.