Fortress Biotech, Inc. (FBIO) Income Statement
FBIO 2025 at a glance
Fiscal year ended December 31, 2025 · U.S. dollarsFBIO revenue and net income
Where FBIO's revenue goes
2025Each bar shows an amount and its share of revenue. FBIO kept 10.8% of revenue as net income.
FBIO profit margins
FBIO growth rates
to 2025| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Revenue | +9.7% | −5.8% | +6.8% | +53.6% |
| Gross profit | +15.1% | −2.0% | +6.4% | +47.6% |
| 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.
FBIO quarterly EPS vs estimates
Fortress Biotech beat the analyst EPS estimate in 4 of the last 8 quarters. Next report: November 13, 2026.
FBIO income statement
| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $63.3M | $57.7M | $84.5M | $75.7M | $68.8M | $45.6M | $36.6M | $26.9M | $187.6M | $16.5M |
| Cost of revenue | $20.9M | $20.9M | $22.9M | $30.8M | $32.1M | $14.6M | $10.5M | $6.1M | $161.2M | $11.3M |
| Gross profit | $42.3M | $36.8M | $61.6M | $45.0M | $36.7M | $31.0M | $26.1M | $20.8M | $26.4M | $5.1M |
| Research & development | $11.9M | $56.9M | $106.1M | $134.9M | $128.9M | $64.1M | $81.3M | $87.4M | $52.5M | $35.1M |
| Sales, general & admin | $96.4M | $87.7M | $99.7M | $113.7M | $86.8M | $61.2M | $55.6M | $53.4M | $73.0M | $32.9M |
| Total operating expenses | $112.6M | $147.2M | $204.0M | $248.5M | $225.2M | $125.3M | $136.9M | $140.8M | $127.6M | $70.8M |
| Operating income | −$70.2M | −$110.4M | −$142.3M | −$203.6M | −$188.5M | −$94.3M | −$110.8M | −$120.0M | −$89.8M | −$65.7M |
| Interest income | $2.5M | $2.7M | $3.0M | $1.4M | $649,000 | $1.5M | $2.6M | $1.1M | $819,000 | $298,000 |
| Interest expense | $8.7M | $9.9M | $12.5M | $13.6M | $15.3M | $15.3M | $11.8M | $10.3M | $7.7M | $3.7M |
| Income before taxes | −$33.5M | −$120.5M | −$153.6M | −$213.5M | −$164.4M | −$102.8M | −$101.7M | −$130.8M | −$98.3M | −$71.3M |
| Income taxes | −$620,000 | $312,000 | $521,000 | $449,000 | $473,000 | $136,000 | −$49.9M | −$463,000 | $1.5M | −$12.5M |
| Net income | $6.8M | −$46.0M | −$60.6M | −$86.6M | −$64.7M | −$46.5M | −$40.0M | −$84.1M | −$66.9M | −$55.1M |
| EBITDA | −$20.2M | −$104.5M | −$135.7M | −$193.7M | −$146.2M | −$87.8M | −$88.5M | −$118.4M | −$88.6M | −$66.5M |
| EPS (diluted) | −$1.09 | −$2.82 | −$4.17 | −$4.05 | $3.82 | −$8.82 | −$6.87 | −$20.98 | −$21.22 | −$10.20 |
| Gross margin | 66.9% | 63.8% | 72.9% | 59.4% | 53.4% | 68.0% | 71.2% | 77.2% | 14.1% | 31.1% |
| Operating margin | −111.0% | −191.4% | −168.4% | −268.8% | −274.1% | −206.7% | −302.5% | −446.4% | −47.9% | −398.7% |
| Net margin | 10.8% | −79.8% | −71.7% | −114.3% | −94.1% | −102.0% | −109.1% | −313.0% | −35.7% | −334.3% |
| 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 | $18.7M | $16.0M | $16.1M | $17.6M | $16.4M | $13.1M | $15.1M | $14.6M | $14.9M | $13.0M | $19.9M | $34.8M |
| Cost of revenue | $7.1M | $7.3M | $5.4M | $5.8M | $4.9M | $4.8M | $5.8M | $5.3M | $6.5M | $6.0M | $6.0M | $6.4M |
| Gross profit | $11.6M | $8.7M | $10.6M | $11.9M | $11.5M | $8.3M | $9.3M | $9.3M | $8.4M | $7.0M | $13.9M | $28.3M |
| Research & development | $805,000 | $540,000 | $367,000 | $208,000 | $8.1M | $3.9M | $9.9M | $9.4M | $12.7M | $24.8M | $14.1M | $20.3M |
| Sales, general & admin | $20.8M | $15.9M | $14.7M | $17.4M | $38.8M | $25.7M | $26.9M | $22.0M | $20.8M | $17.9M | $22.6M | $21.7M |
| Total operating expenses | $21.6M | $16.4M | $15.4M | $18.7M | $47.9M | $30.7M | $36.7M | $31.4M | $36.1M | $43.6M | $33.5M | $42.1M |
| Operating income | −$10.0M | −$7.7M | −$4.8M | −$6.8M | −$36.5M | −$22.3M | −$27.3M | −$22.1M | −$27.8M | −$36.6M | −$19.6M | −$13.8M |
| Interest income | $1.6M | $570,000 | $637,000 | $736,000 | $622,000 | $490,000 | $526,000 | $589,000 | $734,000 | $833,000 | $707,000 | $547,000 |
| Interest expense | $1.5M | $3.4M | $1.7M | $2.4M | $2.1M | $2.5M | $2.6M | $6.2M | $2.1M | $2.6M | $2.1M | $2.5M |
| Income before taxes | $900,000 | $142.3M | −$6.2M | $8.9M | −$11.7M | −$24.7M | −$26.0M | −$26.6M | −$28.8M | −$39.0M | −$28.6M | −$10.6M |
| Income taxes | $298,000 | $5.1M | −$816,000 | $26,000 | — | — | $336,000 | $69,000 | −$2.6M | −$1.7M | $379,000 | $141,000 |
| Net income | −$468,000 | $110.4M | −$3.9M | $5.8M | $15.5M | −$10.6M | −$6.8M | −$12.9M | −$10.9M | −$15.4M | −$9.3M | −$5.0M |
| EBITDA | $3.4M | $147.4M | −$3.3M | $12.4M | −$8.4M | −$20.5M | −$21.8M | −$21.1M | −$26.1M | −$35.8M | −$25.4M | −$6.0M |
| EPS (diluted) | −$0.08 | $2.82 | −$0.21 | $0.11 | −$0.51 | −$0.48 | −$0.30 | −$0.76 | −$0.73 | −$1.03 | −$1.28 | −$0.94 |
| Gross margin | 62.0% | 54.2% | 66.2% | 67.4% | 69.9% | 63.5% | 61.6% | 63.9% | 56.1% | 53.9% | 69.8% | 81.5% |
| Operating margin | −53.5% | −48.3% | −29.8% | −38.6% | −222.2% | −169.9% | −180.9% | −151.0% | −186.5% | −280.6% | −98.3% | −39.6% |
| Net margin | −2.5% | 688.2% | −24.5% | 33.2% | 94.4% | −80.6% | −44.7% | −88.0% | −73.5% | −118.3% | −46.5% | −14.5% |
Quarterly columns are labeled by the month the quarter ended. Figures in U.S. dollars as reported in FBIO's financial statements (latest annual report filed March 31, 2026); data from EODHD. Sales, general & administrative expenses include sales and marketing.
FBIO financial results
In fiscal year 2025 (ended December 31, 2025), Fortress Biotech reported revenue of $63.3 million, up 9.7% from the year before. It had net income of $6.8 million, a net profit margin of 10.8%. Diluted earnings per share came to −$1.09. Over five years revenue grew at an average rate of 6.8% a year.
See the FBIO stock overview for the latest quote and news, or the FBIO chart for price history and technical indicators.
FBIO income statement FAQ
What is Fortress Biotech's annual revenue?
Fortress Biotech reported total revenue of $63.3 million for fiscal year 2025, which ended on December 31, 2025. That was up 9.7% from $57.7 million the previous year.
Is Fortress Biotech profitable?
Yes. Fortress Biotech reported net income of $6.8 million in fiscal 2025, a net profit margin of 10.8%; its operating margin was −111.0%.
What is Fortress Biotech's gross margin?
Fortress Biotech's gross margin was 66.9% in fiscal 2025: for every $100 of revenue, Fortress Biotech kept $67 after the direct cost of its products and services.
How much does Fortress Biotech spend on research and development?
Fortress Biotech spent $11.9 million on research and development in fiscal 2025, 18.8% of revenue.
How fast is Fortress Biotech growing?
Revenue grew 6.8% a year on average over the last five fiscal years, from $45.6 million to $63.3 million.
What are Fortress Biotech's earnings per share?
Fortress Biotech earned $-1.09 per diluted share in fiscal 2025, compared with $-2.82 a year earlier.
When will Fortress Biotech report its next earnings?
Fortress Biotech is expected to report results for the quarter ending September 30, 2026 on November 13, 2026.
When does Fortress Biotech's fiscal year end?
Fortress Biotech's fiscal year ends in December. The latest annual report covers the year ended December 31, 2025 and was filed on March 31, 2026.