Sarepta Therapeutics, Inc. (SRPT) Income Statement
SRPT 2025 at a glance
Fiscal year ended December 31, 2025 · U.S. dollarsSRPT revenue and net income
Where SRPT's revenue goes
2025Each bar shows an amount and its share of revenue. SRPT kept −32.5% of revenue as net income.
SRPT profit margins
SRPT growth rates
to 2025| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Revenue | +15.6% | +33.1% | +32.4% | +111.1% |
| Gross profit | −16.8% | +18.4% | +22.5% | +100.5% |
| Operating income | −401.6% | — | — | — |
| Net income | −403.3% | — | — | — |
| EPS (diluted) | −238.5% | — | — | — |
1-year change and average annual growth (CAGR) over 3, 5 and 10 fiscal years. "—" when a starting value was zero or negative.
SRPT quarterly EPS vs estimates
Sarepta Therapeutics beat the analyst EPS estimate in 5 of the last 8 quarters. Next report: November 2, 2026 (estimate $0.17).
SRPT income statement
| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $2.20B | $1.90B | $1.24B | $933.0M | $701.9M | $540.1M | $380.8M | $301.0M | $154.6M | $5.4M |
| Cost of revenue | $881.5M | $319.1M | $150.3M | $140.0M | $97.0M | $63.4M | $56.6M | $34.2M | $7.4M | $130,000 |
| Gross profit | $1.32B | $1.58B | $1.09B | $793.0M | $604.8M | $476.7M | $324.2M | $266.8M | $147.2M | $5.3M |
| Research & development | $1.52B | $804.5M | $877.4M | $877.1M | $771.2M | $722.3M | $560.9M | $401.8M | $166.7M | $188.3M |
| Sales, general & admin | $478.9M | $557.9M | $510.5M | $466.0M | $290.4M | $317.9M | $284.8M | $212.2M | $122.7M | $83.7M |
| Total operating expenses | $1.97B | $1.36B | $1.36B | $1.33B | $1.06B | $1.04B | $1.03B | $610.5M | $290.4M | $272.0M |
| Operating income | −$657.8M | $218.1M | −$267.8M | −$536.2M | −$459.7M | −$564.2M | −$705.6M | −$343.6M | −$171.6M | −$266.7M |
| Interest income | $36.7M | $71.8M | $67.7M | $16.5M | $354,000 | $3.0M | $7.2M | $6.8M | $1.8M | $535,000 |
| Interest expense | $9.7M | $18.4M | $22.0M | $53.2M | $63.5M | $59.9M | $30.7M | $33.7M | $5.8M | $535,000 |
| Income before taxes | −$702.2M | $260.8M | −$520.1M | −$690.0M | −$418.9M | −$553.1M | −$713.9M | −$362.6M | −$48.6M | −$267.3M |
| Income taxes | $11.2M | $25.5M | $15.9M | $13.5M | −$168,000 | $1.1M | $1.2M | −$692,000 | $2.1M | −$7.6M |
| Net income | −$713.4M | $235.2M | −$536.0M | −$703.5M | −$418.8M | −$554.1M | −$715.1M | −$361.9M | −$50.7M | −$267.3M |
| EBITDA | −$648.0M | $316.9M | −$453.7M | −$594.9M | −$317.4M | −$453.4M | −$658.7M | −$316.7M | −$34.8M | −$261.1M |
| EPS (diluted) | −$5.11 | $3.69 | −$0.98 | −$3.78 | −$4.67 | −$5.56 | −$4.29 | −$3.32 | −$1.95 | −$4.16 |
| Gross margin | 59.9% | 83.2% | 87.9% | 85.0% | 86.2% | 88.3% | 85.1% | 88.6% | 95.2% | 97.6% |
| Operating margin | −29.9% | 11.5% | −21.5% | −57.5% | −65.5% | −104.5% | −185.3% | −114.1% | −111.0% | −4,920.3% |
| Net margin | −32.5% | 12.4% | −43.1% | −75.4% | −59.7% | −102.6% | −187.8% | −120.2% | −32.8% | −4,930.2% |
| 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 | $401.3M | $730.8M | $442.9M | $399.4M | $611.1M | $744.9M | $658.4M | $467.2M | $362.9M | $413.5M | $396.8M | $331.8M |
| Cost of revenue | $149.4M | $119.4M | $398.7M | $150.8M | $152.6M | $137.6M | $132.3M | $91.7M | $44.5M | $50.6M | $44.2M | $37.0M |
| Gross profit | $251.9M | $611.4M | $44.2M | $248.6M | $458.5M | $607.3M | $526.1M | $375.5M | $318.4M | $362.9M | $352.6M | $294.8M |
| Research & development | $91.3M | $154.0M | $325.3M | $218.9M | $204.4M | $773.4M | $200.0M | $224.5M | $179.7M | $200.4M | $195.5M | $194.3M |
| Sales, general & admin | $107.6M | $109.0M | $128.3M | $91.9M | $137.9M | $133.6M | $163.9M | $128.2M | $140.9M | $127.0M | $131.7M | $120.9M |
| Total operating expenses | $238.6M | $253.0M | $455.8M | $352.0M | $343.0M | $907.7M | $364.4M | $353.3M | $319.1M | $328.0M | $328.0M | $315.6M |
| Operating income | $13.3M | $358.4M | −$411.6M | −$103.4M | $115.6M | −$300.4M | $161.7M | $22.2M | −$701,000 | $34.9M | $24.6M | −$20.8M |
| Interest income | $7.2M | $7.0M | $8.7M | $8.4M | $7.1M | $12.4M | $14.7M | $18.3M | $18.8M | $19.9M | $22.6M | $22.8M |
| Interest expense | $21.5M | $21.7M | $7.6M | $7.6M | $5.2M | $4.5M | $4.5M | $4.9M | $4.8M | $4.2M | $5.2M | $5.2M |
| Income before taxes | −$1.7M | $343.2M | −$278.3M | −$194.0M | $153.6M | −$383.5M | $171.7M | $34.0M | $13.6M | $41.4M | $40.4M | −$33.2M |
| Income taxes | $3.1M | $12.2M | $4.6M | −$14.1M | −$43.3M | $64.0M | $12.7M | $395,000 | $7.1M | $5.3M | −$5.3M | $7.8M |
| Net income | −$4.9M | $331.0M | −$282.8M | −$179.9M | $196.9M | −$447.5M | $159.0M | $33.6M | $6.5M | $36.1M | $45.7M | −$40.9M |
| EBITDA | $30.2M | $375.5M | −$252.2M | −$168.0M | $169.7M | −$369.0M | $186.7M | $48.7M | $27.1M | $54.4M | $57.0M | −$17.0M |
| EPS (diluted) | $0.42 | $3.16 | −$3.58 | −$0.13 | $2.02 | −$3.42 | $1.90 | $0.62 | $0.44 | $0.73 | $0.47 | $0.37 |
| Gross margin | 62.8% | 83.7% | 10.0% | 62.2% | 75.0% | 81.5% | 79.9% | 80.4% | 87.7% | 87.8% | 88.9% | 88.8% |
| Operating margin | 3.3% | 49.0% | −92.9% | −25.9% | 18.9% | −40.3% | 24.6% | 4.8% | −0.2% | 8.4% | 6.2% | −6.3% |
| Net margin | −1.2% | 45.3% | −63.9% | −45.1% | 32.2% | −60.1% | 24.2% | 7.2% | 1.8% | 8.7% | 11.5% | −12.3% |
Quarterly columns are labeled by the month the quarter ended. Figures in U.S. dollars as reported in SRPT's financial statements (latest annual report filed March 2, 2026); data from EODHD. Sales, general & administrative expenses include sales and marketing.
SRPT financial results
In fiscal year 2025 (ended December 31, 2025), Sarepta Therapeutics reported revenue of $2.2 billion, up 15.6% from the year before. It had a net loss of $713.4 million, a net profit margin of −32.5%. Diluted earnings per share came to −$5.11. Over five years revenue grew at an average rate of 32.4% a year.
See the SRPT stock overview for the latest quote and news, or the SRPT chart for price history and technical indicators.
SRPT income statement FAQ
What is Sarepta Therapeutics's annual revenue?
Sarepta Therapeutics reported total revenue of $2.2 billion for fiscal year 2025, which ended on December 31, 2025. That was up 15.6% from $1.9 billion the previous year.
Is Sarepta Therapeutics profitable?
No. Sarepta Therapeutics reported a net loss of $713.4 million in fiscal 2025, a net profit margin of −32.5%; its operating margin was −29.9%.
What is Sarepta Therapeutics's gross margin?
Sarepta Therapeutics's gross margin was 59.9% in fiscal 2025: for every $100 of revenue, Sarepta Therapeutics kept $60 after the direct cost of its products and services.
How much does Sarepta Therapeutics spend on research and development?
Sarepta Therapeutics spent $1.5 billion on research and development in fiscal 2025, 69.2% of revenue.
How fast is Sarepta Therapeutics growing?
Revenue grew 32.4% a year on average over the last five fiscal years, from $540.1 million to $2.2 billion.
What are Sarepta Therapeutics's earnings per share?
Sarepta Therapeutics earned $-5.11 per diluted share in fiscal 2025, compared with $3.69 a year earlier.
When will Sarepta Therapeutics report its next earnings?
Sarepta Therapeutics is expected to report results for the quarter ending September 30, 2026 on November 2, 2026.
When does Sarepta Therapeutics's fiscal year end?
Sarepta Therapeutics's fiscal year ends in December. The latest annual report covers the year ended December 31, 2025 and was filed on March 2, 2026.