Cash and cash equivalents were $901.2 million, up $28.1 million sequentially and $139.7 million year-over-year.
Clear aligner average per case shipment price was $1,250, up $10 sequentially but down $45 year-over-year due to discounts and product mix shift.
Clear aligners revenues were slightly down year-over-year, with volume growth in APAC and EMEA offset by declines in the Americas, especially North America.
Completed $225 million stock repurchase in Q2, finishing the $1 billion program approved in January 2023.
Net income per diluted share was $1.72, up $0.45 sequentially and $0.43 year-over-year, with foreign exchange contributing positively.
Operating expenses were $545.1 million, down 0.7% sequentially and 5.3% year-over-year, primarily due to lower legal settlements.
Operating income was $163 million with a 16.1% operating margin, up 2.7 points sequentially and 1.7 points year-over-year.
Overall gross margin was 69.9%, up 0.5 points sequentially and down 0.3 points year-over-year, with foreign exchange positively impacting margins.
Systems and Services segment revenues were $207.8 million, up 13.9% sequentially and 5.6% year-over-year, driven by iTero Lumina wand upgrades and increased services.
Total Q2 revenues were $1,012.4 million, up 3.4% sequentially and down 1.6% year-over-year.
Cash, cash equivalents, and marketable securities totaled approximately $319.5 million as of June 30, 2025.
FILSPARI net product sales reached approximately $72 million in the U.S., representing significant year-over-year growth of about 82%.
License and collaboration revenue included a one-time $17.5 million milestone payment from CSL Vifor due to full approval of FILSPARI in Europe.
Net loss narrowed significantly to $12.8 million or $0.14 per share from $70.4 million or $0.91 per share in the prior year period.
On a non-GAAP basis, net income was $11.9 million or $0.13 per share compared to a net loss of $50.1 million previously.
Research and development expenses decreased to $49.4 million from $54.3 million year-over-year, reflecting reduced clinical activity in the Phase III HARMONY study.
Selling, general, and administrative expenses increased to $76.2 million from $64.8 million, driven by amortization of FILSPARI royalties and investments in launch and preparation for FSGS.
THIOLA and THIOLA EC contributed $23 million in net product sales, though generic competition is anticipated in coming quarters.
Travere Therapeutics reported strong Q2 2025 financial results with total revenue of $114.4 million, including $94.8 million in U.S. net product sales.
Day One Biopharmaceuticals reported Q2 2025 net product revenue of $33.6 million for OJEMDA, a 10% increase over Q1.
Net cash used in operating activities decreased by approximately 50% quarter-over-quarter.
The company ended Q2 with $453 million in cash and no debt.
Total costs and operating expenses were $68.9 million in Q2, including $10.9 million in noncash stock-based compensation, representing a 5% decrease quarter-over-quarter.