Adjusted EBITDA increased to $6.1 million or 24% of revenue, up from $3.9 million or 20% last year, reflecting improved gross margin and operational leverage.
BioLife Solutions reported Q2 2025 revenue of $25.4 million, a 29% year-over-year increase driven primarily by a 28% increase in cell processing revenue.
Cash and marketable securities totaled $100.2 million at quarter end, down from $107.6 million at the end of Q1, with cash usage driven by PanTHERA acquisition, debt repayments, and capital expenditures.
GAAP gross margin decreased slightly to 62% from 64% in Q2 2024, while adjusted gross margin was 65% compared to 67% last year, impacted by fleet repair costs and product mix.
GAAP net loss was $15.8 million or $0.33 per share, impacted by the IPR&D expense; excluding this, net loss per share would have been $0.01.
GAAP operating expenses rose to $42.1 million from $21 million, mainly due to a $15.5 million noncash IPR&D expense related to the PanTHERA acquisition and increased stock-based compensation.
GAAP operating loss was $16.6 million versus $1.3 million in the prior year, with adjusted operating loss improving slightly to $0.5 million from $0.8 million.
Cash position remained strong at approximately $340 million with near cash-neutral operations and expected $27 million in taxes related to the TRELEGY sale accrued in Q2.
Collaboration revenue grew 31% year-over-year, driven by YUPELRI sales growth and improved profit margins.
Non-GAAP losses improved to $4.2 million compared to $6.3 million in the prior year, excluding onetime items.
The company recognized a $7.5 million milestone payment following YUPELRI's regulatory approval in China.
Theravance Biopharma reported strong Q2 2025 financial results with YUPELRI net sales reaching approximately $66 million, a 22% year-over-year increase, marking the highest Q2 sales since launch.
Theravance completed the $225 million sale of its remaining TRELEGY royalty interest to GSK, recognizing $75 million of other income and strengthening the balance sheet.
Dafinchi