Fennec Pharmaceuticals Inc. (FENC) Income Statement
FENC 2025 at a glance
Fiscal year ended December 31, 2025 · U.S. dollarsFENC revenue and net income
Where FENC's revenue goes
2025Each bar shows an amount and its share of revenue. FENC kept −21.8% of revenue as net income.
FENC profit margins
FENC growth rates
to 2025| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Revenue | −6.1% | +207.5% | +204.7% | — |
| Gross profit | −7.8% | +204.4% | +199.4% | — |
| Operating income | −356.0% | — | — | — |
| 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.
FENC quarterly EPS vs estimates
Fennec Pharmaceuticals beat the analyst EPS estimate in 4 of the last 8 quarters. Next report: November 12, 2026 (estimate $0.09).
FENC income statement
| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $44.6M | $47.5M | $21.3M | $1.5M | $170,000 | $170,000 | $0 | $0 | $0 | $0 |
| Cost of revenue | $3.8M | $3.2M | $1.3M | $86,000 | $0 | $0 | — | $0 | $0 | $0 |
| Gross profit | $40.9M | $44.4M | $20.0M | $1.4M | $0 | $170,000 | — | $0 | $0 | $0 |
| Research & development | $250,000 | $307,000 | $56,000 | $3.5M | $5.0M | $5.1M | $5.6M | $5.0M | $1.9M | $472,000 |
| Sales, general & admin | $46.9M | $41.5M | $32.7M | $20.5M | $12.2M | $12.9M | $7.4M | $5.4M | $5.0M | $2.4M |
| Total operating expenses | $47.2M | $41.9M | $33.1M | $24.2M | $17.2M | $18.1M | $13.0M | $10.4M | $7.0M | $2.9M |
| Operating income | −$6.3M | $2.5M | −$13.1M | −$22.7M | −$17.2M | −$17.9M | −$13.0M | −$10.4M | −$7.0M | −$2.9M |
| Interest income | $787,000 | $1.7M | $479,000 | $195,000 | $54,000 | $87,000 | $251,000 | $515,000 | $87,000 | $56,000 |
| Interest expense | $2.1M | $4.1M | $3.4M | $978,000 | $126,000 | $9,000 | $0 | $0 | $0 | $0 |
| Income before taxes | −$9.6M | −$71,000 | −$16.0M | −$23.7M | −$17.3M | −$18.1M | −$12.8M | −$9.9M | −$7.0M | −$2.8M |
| Income taxes | $106,000 | $365,000 | $1 | $1.1M | $110,000 | −$187,000 | −$315,000 | −$348,000 | −$47,000 | −$8,000 |
| Net income | −$9.7M | −$436,000 | −$16.0M | −$23.7M | −$17.3M | −$18.1M | −$12.5M | −$9.9M | −$7.0M | −$2.8M |
| EBITDA | −$7.5M | $4.8M | −$12.4M | −$22.6M | −$17.2M | −$17.7M | −$12.9M | $1.0M | −$348,393 | $115,544 |
| EPS (diluted) | −$0.27 | −$0.06 | −$0.61 | −$0.90 | −$0.68 | −$0.77 | −$0.64 | −$0.52 | −$0.61 | −$0.22 |
| Gross margin | 91.6% | 93.3% | 94.1% | 94.4% | 0.0% | 100.0% | — | — | — | — |
| Operating margin | −14.2% | 5.2% | −61.4% | −1,481.3% | −10,131.2% | −10,520.6% | — | — | — | — |
| Net margin | −21.8% | −0.9% | −75.5% | −1,544.9% | −10,203.5% | −10,652.4% | — | — | — | — |
| 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 | $17.9M | $15.1M | $13.8M | $12.5M | $9.7M | $8.8M | $7.9M | $7.0M | $7.3M | $25.4M | $9.7M | $6.5M |
| Cost of revenue | $721,000 | $570,000 | $1.8M | $660,000 | $967,000 | $373,000 | $669,000 | $1.4M | $608,000 | $550,000 | $685,000 | $331,000 |
| Gross profit | $17.2M | $14.5M | $12.0M | $11.8M | $8.7M | $8.4M | $7.3M | $5.6M | $6.7M | $24.8M | $9.1M | $6.2M |
| Research & development | $118,000 | $49,000 | $20,000 | $29,000 | $107,000 | $94,000 | $50,000 | $97,000 | $157,000 | $3,000 | $32,000 | $12,000 |
| Sales, general & admin | $15.3M | $14.6M | $14.5M | $12.0M | $11.3M | $9.1M | $8.1M | $10.7M | $11.5M | $11.1M | $10.8M | $7.2M |
| Total operating expenses | $15.4M | $14.7M | $14.6M | $12.0M | $11.4M | $9.2M | $8.2M | $10.8M | $11.7M | $11.1M | $10.9M | $7.2M |
| Operating income | $1.7M | −$119,000 | −$2.6M | −$201,000 | −$2.7M | −$821,000 | −$959,000 | −$5.2M | −$5.0M | $13.7M | −$1.8M | −$1.0M |
| Interest income | $287,000 | $339,000 | $228,000 | $152,000 | $171,000 | $236,000 | $399,000 | $516,000 | $570,000 | $197,000 | $115,000 | $102,000 |
| Interest expense | $3,000 | $7,000 | $308,000 | $586,000 | $617,000 | $603,171 | $966,000 | $1.0M | $1.1M | $1.0M | $915,000 | $856,000 |
| Income before taxes | $2.0M | $201,000 | −$4.7M | −$638,000 | −$3.2M | −$1.2M | −$1.6M | −$5.7M | −$5.6M | $12.8M | −$2.7M | −$1.9M |
| Income taxes | $42,000 | — | $106,000 | — | — | — | $365,000 | — | $1,043 | −$723,000 | $1 | $856,000 |
| Net income | $2.0M | $201,000 | −$4.8M | −$638,000 | −$3.2M | −$1.2M | −$2.0M | −$5.7M | −$5.6M | $12.8M | −$2.7M | −$1.9M |
| EBITDA | $1.8M | $234,000 | −$4.3M | −$26,000 | −$2.5M | −$547,000 | −$628,000 | −$4.7M | −$4.5M | $14.6M | −$1.7M | −$939,000 |
| EPS (diluted) | $0.05 | $0.01 | −$0.10 | −$0.02 | −$0.11 | −$0.04 | −$0.06 | −$0.21 | −$0.20 | $0.41 | −$0.10 | −$0.07 |
| Gross margin | 96.0% | 96.2% | 87.2% | 94.7% | 90.0% | 95.7% | 91.6% | 80.5% | 91.6% | 97.8% | 93.0% | 94.9% |
| Operating margin | 9.7% | −0.8% | −18.7% | −1.6% | −28.3% | −9.4% | −12.1% | −74.9% | −69.4% | 54.2% | −18.7% | −15.6% |
| Net margin | 11.0% | 1.3% | −34.7% | −5.1% | −32.7% | −13.3% | −25.0% | −82.2% | −76.5% | 50.6% | −27.6% | −28.7% |
Quarterly columns are labeled by the month the quarter ended. Figures in U.S. dollars as reported in FENC's financial statements (latest annual report filed March 27, 2026); data from EODHD. Sales, general & administrative expenses include sales and marketing.
FENC financial results
In fiscal year 2025 (ended December 31, 2025), Fennec Pharmaceuticals reported revenue of $44.6 million, down 6.1% from the year before. It had a net loss of $9.7 million, a net profit margin of −21.8%. Diluted earnings per share came to −$0.27. Over five years revenue grew at an average rate of 204.7% a year.
See the FENC stock overview for the latest quote and news, or the FENC chart for price history and technical indicators.
FENC income statement FAQ
What is Fennec Pharmaceuticals's annual revenue?
Fennec Pharmaceuticals reported total revenue of $44.6 million for fiscal year 2025, which ended on December 31, 2025. That was down 6.1% from $47.5 million the previous year.
Is Fennec Pharmaceuticals profitable?
No. Fennec Pharmaceuticals reported a net loss of $9.7 million in fiscal 2025, a net profit margin of −21.8%; its operating margin was −14.2%.
What is Fennec Pharmaceuticals's gross margin?
Fennec Pharmaceuticals's gross margin was 91.6% in fiscal 2025: for every $100 of revenue, Fennec Pharmaceuticals kept $92 after the direct cost of its products and services.
How much does Fennec Pharmaceuticals spend on research and development?
Fennec Pharmaceuticals spent $0.2 million on research and development in fiscal 2025, 0.6% of revenue.
How fast is Fennec Pharmaceuticals growing?
Revenue grew 204.7% a year on average over the last five fiscal years, from $0.2 million to $44.6 million.
What are Fennec Pharmaceuticals's earnings per share?
Fennec Pharmaceuticals earned $-0.27 per diluted share in fiscal 2025, compared with $-0.06 a year earlier.
When will Fennec Pharmaceuticals report its next earnings?
Fennec Pharmaceuticals is expected to report results for the quarter ending September 30, 2026 on November 12, 2026 before the market opens.
When does Fennec Pharmaceuticals's fiscal year end?
Fennec Pharmaceuticals's fiscal year ends in December. The latest annual report covers the year ended December 31, 2025 and was filed on March 27, 2026.