Eton Pharmaceuticals reported fourth quarter 2025 net revenues of $21.3 million, up 83% from $11.6 million in Q4 2024, and full year 2025 total revenue of $80 million. The company launched DESMODA on March 9, 2026, acquired U.S. rights to HEMANGEOL for May 1 relaunch, and guided full year 2026 revenue to exceed $110 million with Adjusted EBITDA margin of at least 30%.
Key takeaways
Q4 2025 net revenues $21.3 million, 83% growth from $11.6 million in Q4 2024
FY 2025 total revenue $80 million, more than double 2024 revenue
Q4 2025 Adjusted EBITDA $6.2 million, 195% growth from $2.1 million
Launched DESMODA on March 9, 2026 with potential peak sales $30-50 million annually
Acquired U.S. rights to HEMANGEOL, relaunch May 1, 2026, expected accretive to 2026 earnings
2026 guidance: revenue exceed $110 million, Adjusted EBITDA margin at least 30%