0001628280-26-007460
SEC filingVanda Pharmaceuticals Inc. (VNDA) reported FY 2025 total revenues of $216.1 million from net product sales, with a significant operating loss of $151.2 million driven by high selling, general and administrative expenses of $238.0 million and research and development costs of $109.3 million. Total operating expenses reached $367.3 million, resulting in a net loss of $220.5 million or $4 per basic and diluted share. Despite the loss, other income of $12.5 million partially offset the pre-tax loss of $138.6 million, though a $81.8 million tax provision widened the net loss. Balance sheet remains solid with $84.9 million in cash and equivalents, $179.0 million in marketable securities, and total current assets of $347.3 million against $145.2 million current liabilities, yielding total assets of $488.9 million and stockholders' equity of $327.2 million. Operating cash flow was negative at -$109.4 million, offset by $94.9 million from investing activities, leading to a $17.5 million net decrease in cash, ending at $135.5 million. No prior year figures disclosed limits YoY analysis, but strong liquidity supports ongoing operations amid elevated SG&A spend.
Vanda Pharmaceuticals Inc. reported FY 2025 revenues of $216.1 million entirely from net product sales. Operating expenses totaled $367.3 million, including cost of goods sold excluding amortization at $13.0 million, research and development at $109.3 million, selling, general and administrative at $238.0 million, and intangible asset amortization of $7.0 million. This resulted in a loss from operations of -$151.2 million. Other income net of $12.5 million led to income before taxes of -$138.6 million. A provision for income taxes of $81.8 million produced a net loss of -$220.5 million, or -$4 per basic and diluted share based on 58.9 million weighted average shares. No prior year comparative figures are provided in the XBRL data for YoY analysis. Total assets stood at $488.9 million with stockholders' equity of $327.2 million.
Revenues totaled $216.1 million from net product sales. No segment breakdown, geographic mix, or growth drivers are disclosed in the provided XBRL data or document content. Product revenue allowances of $76.9 million appear on the balance sheet, indicating reserves against sales. Accounts receivable net was $54.6 million. No further details on specific products or revenue composition available.
Gross profit cannot be calculated as cost of goods sold excluding amortization is $13.0 million, but total revenues are $216.1 million. Operating margin reflects loss from operations of -$151.2 million on $216.1 million revenue, approximately -70%. Elevated SG&A at $238.0 million exceeded revenues, comprising over 100% of sales. R&D at $109.3 million reflects ongoing investment. Intangible amortization of $7.0 million noted. No prior period margins for comparison. Tax provision of $81.8 million despite losses suggests valuation allowance release or other tax items, with deferred taxes at $81.4 million in cash flow.
Net cash used in operating activities was -$109.4 million, starting from net loss of -$220.5 million, adjusted by non-cash items including $81.4 million deferred taxes, $9.5 million stock compensation, $7.0 million intangible amortization, and working capital changes like +$15.5 million product revenue allowances and +$7.5 million accounts receivable. Investing activities provided $94.9 million from $208.2 million sales/maturities of marketable securities net of $112.4 million purchases and $998K property. Financing used -$2.9 million for lease payments and tax on RSUs. Net change in cash and restricted cash was -$17.5 million, ending at $135.5 million. Balance sheet shows $347.3 million current assets including $84.9 million cash, $179.0 million marketable securities, against $145.2 million current liabilities. Total liabilities $161.8 million, no debt noted. Intangibles net $117.1 million.
No management guidance, strategic priorities, or specific risk factors beyond standard commitments in Notes 11 and 18 are disclosed in the provided filing excerpt. Liquidity position with $264 million in cash and marketable securities supports operations.