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SEC filingRevenue grew 55.6% to $127.2M, driving gross profit up 62.5% and narrowing operating and net losses versus prior year, as FILSPARI sales momentum offset heavy R&D and commercial investments amid pegtibatinase study restart.
Operating income loss narrowed to -$36.9 million, a 13.5% improvement from -$42.7 million, as robust top-line expansion outpaced opex growth. Net income followed suit at -$37.1 million, 10.0% better than -$41.2 million last year, with diluted EPS at -$0.40 versus -$0.47. These improvements highlight sales strength countering investments in rare kidney disease pipeline and commercialization.
Net cash used in operating activities improved to -$40.4 million from -$42.2 million, driven by higher product sales offsetting normal operations payment timing. Financing continues via equity sales, borrowings, product revenues, licenses, and prior bile acid divestiture. Past results do not predict future periods, with ongoing government scrutiny of pharma practices noted as a risk.
This quarter demonstrates FILSPARI's contribution to loss narrowing through sales growth and margin discipline, positioning Travere amid pipeline advancement like pegtibatinase while managing cash burn.