Nektar Therapeutics (NKTR) Income Statement
NKTR 2025 at a glance
Fiscal year ended December 31, 2025 · U.S. dollarsNKTR revenue and net income
Where NKTR's revenue goes
2025Each bar shows an amount and its share of revenue. NKTR kept −297.1% of revenue as net income.
NKTR profit margins
NKTR growth rates
to 2025| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Revenue | −43.9% | −15.7% | −18.4% | −13.3% |
| Gross profit | −18.5% | −7.8% | −16.2% | −11.9% |
| 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.
NKTR quarterly EPS vs estimates
Nektar Therapeutics beat the analyst EPS estimate in 5 of the last 8 quarters. Next report: November 5, 2026 (estimate $-2.16).
NKTR income statement
| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $55.2M | $98.4M | $90.1M | $92.1M | $101.9M | $152.9M | $114.6M | $1.19B | $307.7M | $165.4M |
| Cost of revenue | $0 | $30.7M | $36.6M | $21.6M | $24.9M | $19.5M | $21.4M | $24.4M | $30.5M | $30.2M |
| Gross profit | $55.2M | $67.7M | $53.5M | $70.4M | $77.0M | $133.4M | $93.2M | $1.17B | $277.2M | $135.2M |
| Research & development | $117.3M | $120.9M | $114.2M | $218.3M | $400.3M | $408.7M | $434.6M | $399.5M | $268.5M | $203.8M |
| Sales, general & admin | $68.7M | $76.8M | $79.6M | $92.3M | $122.8M | $104.7M | $98.7M | $81.4M | $52.4M | $44.3M |
| Total operating expenses | $186.0M | $172.9M | $190.9M | $310.7M | $523.1M | $513.4M | $533.3M | $481.0M | $320.8M | $248.1M |
| Operating income | −$130.8M | −$105.2M | −$137.4M | −$240.2M | −$446.1M | −$379.9M | −$440.0M | $687.9M | −$59.6M | −$112.9M |
| Interest income | $10.4M | $14.5M | $17.6M | $6.7M | $2.6M | $18.3M | $46.3M | $37.6M | $4.5M | $2.4M |
| Interest expense | $26.2M | $28.1M | $25.3M | $28.9M | $47.3M | $37.1M | $46.4M | $42.8M | $41.0M | $42.2M |
| Income before taxes | −$164.2M | −$119.2M | −$276.3M | −$365.0M | −$523.3M | −$443.9M | −$440.1M | $682.7M | −$96.1M | −$152.6M |
| Income taxes | −$138,000 | −$239,000 | −$200,000 | $3.2M | $557,000 | $493,000 | $613,000 | $1.4M | $616,000 | $876,000 |
| Net income | −$164.1M | −$119.0M | −$276.1M | −$368.2M | −$523.8M | −$444.4M | −$440.7M | $681.3M | −$96.7M | −$153.5M |
| EBITDA | −$137.0M | −$86.7M | −$243.1M | −$323.0M | −$461.8M | −$392.6M | −$380.5M | $736.4M | −$40.4M | −$95.1M |
| EPS (diluted) | −$10.21 | −$8.37 | −$10.87 | −$25.07 | −$31.84 | −$17.08 | −$37.65 | $61.98 | −$0.83 | −$16.50 |
| Gross margin | 100.0% | 68.8% | 59.3% | 76.5% | 75.6% | 87.3% | 81.4% | 98.0% | 90.1% | 81.7% |
| Operating margin | −236.8% | −106.9% | −152.5% | −261.0% | −437.8% | −248.5% | −383.9% | 57.6% | −19.4% | −68.2% |
| Net margin | −297.1% | −120.9% | −306.3% | −400.0% | −514.0% | −290.6% | −384.5% | 57.1% | −31.4% | −92.8% |
| 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 | $10.1M | $10.9M | $21.8M | $11.8M | $11.2M | $10.5M | $29.2M | $24.1M | $23.5M | $21.6M | $23.9M | $24.1M |
| Cost of revenue | $0 | $151,000 | $0 | $196,000 | $214,000 | $426,000 | $8.0M | $4.4M | $9.7M | $8.5M | $7.3M | $12.4M |
| Gross profit | $10.1M | $10.7M | $21.8M | $11.6M | $11.2M | $10.5M | $21.2M | $19.7M | $13.7M | $13.1M | $16.6M | $11.7M |
| Research & development | $39.1M | $35.7M | $29.7M | $27.3M | $29.9M | $30.5M | $28.7M | $35.0M | $29.7M | $27.4M | $29.9M | $24.1M |
| Sales, general & admin | $12.8M | $13.6M | $11.4M | $15.9M | $17.1M | $24.3M | $17.1M | $19.0M | $20.5M | $20.1M | $17.3M | $21.1M |
| Total operating expenses | $52.5M | $49.0M | $40.9M | $43.1M | $47.4M | $55.0M | $6.8M | $54.0M | $63.5M | $48.5M | $50.1M | $56.6M |
| Operating income | −$42.3M | −$38.3M | −$19.1M | −$31.5M | −$36.2M | −$44.5M | $14.3M | −$34.3M | −$49.8M | −$35.4M | −$33.5M | −$44.9M |
| Interest income | $9.3M | $4.2M | $2.8M | $2.8M | $2.0M | $2.9M | $2.9M | $3.4M | $3.9M | $4.2M | $4.5M | $4.9M |
| Interest expense | $7.2M | $7.9M | $9.8M | $6.0M | $5.4M | $5.0M | $10.2M | $6.0M | $6.4M | $5.5M | $6.9M | $5.9M |
| Income before taxes | −$40.3M | −$44.8M | −$36.0M | −$35.6M | −$41.8M | −$50.8M | $7.0M | −$37.0M | −$52.3M | −$36.8M | −$42.1M | −$45.9M |
| Income taxes | $2,000 | $64,000 | $31,000 | −$33,000 | −$188,000 | $52,000 | −$259,000 | $9,000 | $46,000 | −$35,000 | −$29,000 | −$61,000 |
| Net income | −$40.6M | −$44.9M | −$36.1M | −$35.5M | −$41.6M | −$50.9M | $7.3M | −$37.1M | −$52.4M | −$36.8M | −$42.1M | −$45.8M |
| EBITDA | −$42.1M | −$36.7M | −$26.1M | −$29.3M | −$33.8M | −$41.0M | $17.5M | −$30.0M | −$44.5M | −$29.7M | −$33.6M | −$38.3M |
| EPS (diluted) | −$1.23 | −$1.78 | −$1.78 | −$1.87 | −$2.95 | −$3.61 | −$0.15 | −$2.65 | −$2.81 | −$2.76 | −$0.22 | −$2.85 |
| Gross margin | 100.0% | 98.6% | 100.0% | 98.3% | 100.0% | 100.0% | 72.7% | 81.6% | 58.5% | 60.6% | 69.5% | 48.5% |
| Operating margin | −417.9% | −352.3% | −87.5% | −267.4% | −324.2% | −425.8% | 49.2% | −142.4% | −211.9% | −163.7% | −140.3% | −185.8% |
| Net margin | −401.0% | −413.4% | −165.4% | −301.3% | −372.2% | −486.4% | 24.9% | −153.6% | −222.9% | −170.1% | −176.2% | −189.8% |
Quarterly columns are labeled by the month the quarter ended. Figures in U.S. dollars as reported in NKTR's financial statements (latest annual report filed March 13, 2026); data from EODHD. Sales, general & administrative expenses include sales and marketing.
NKTR financial results
In fiscal year 2025 (ended December 31, 2025), Nektar Therapeutics reported revenue of $55.2 million, down 43.9% from the year before. It had a net loss of $164.1 million, a net profit margin of −297.1%. Diluted earnings per share came to −$10.21. Over five years revenue grew at an average rate of −18.4% a year.
See the NKTR stock overview for the latest quote and news, or the NKTR chart for price history and technical indicators.
NKTR income statement FAQ
What is Nektar Therapeutics's annual revenue?
Nektar Therapeutics reported total revenue of $55.2 million for fiscal year 2025, which ended on December 31, 2025. That was down 43.9% from $98.4 million the previous year.
Is Nektar Therapeutics profitable?
No. Nektar Therapeutics reported a net loss of $164.1 million in fiscal 2025, a net profit margin of −297.1%; its operating margin was −236.8%.
What is Nektar Therapeutics's gross margin?
Nektar Therapeutics's gross margin was 100.0% in fiscal 2025: for every $100 of revenue, Nektar Therapeutics kept $100 after the direct cost of its products and services.
How much does Nektar Therapeutics spend on research and development?
Nektar Therapeutics spent $117.3 million on research and development in fiscal 2025, 212.4% of revenue.
How fast is Nektar Therapeutics growing?
Revenue grew −18.4% a year on average over the last five fiscal years, from $152.9 million to $55.2 million.
What are Nektar Therapeutics's earnings per share?
Nektar Therapeutics earned $-10.21 per diluted share in fiscal 2025, compared with $-8.37 a year earlier.
When will Nektar Therapeutics report its next earnings?
Nektar Therapeutics is expected to report results for the quarter ending September 30, 2026 on November 5, 2026.
When does Nektar Therapeutics's fiscal year end?
Nektar Therapeutics's fiscal year ends in December. The latest annual report covers the year ended December 31, 2025 and was filed on March 13, 2026.