Adjusted EBITDA was positive $12.5 million, improving by nearly $13 million compared to the prior year.
Gross margin was 82% for the quarter, slightly below Q1 due to nonroutine expenses related to Gvoke capacity expansion.
Gvoke revenue increased 17% to $23.5 million, supported by a 5% growth in total prescriptions and favorable gross-to-net adjustments.
Keveyis revenue rose modestly to $11.5 million, with a slight increase in patient numbers and new patient starts.
R&D expenses increased by $2.2 million to $8.1 million, reflecting investments in pipeline products including XP-8121.
Recorlev revenue surged 136% year-over-year to $31.4 million, with a 122% increase in the average number of patients on therapy.
SG&A expenses rose 11% year-over-year to $44.4 million, mainly due to Recorlev commercial expansion and personnel costs.
Xeris Biopharma reported a 49% year-over-year increase in total revenue to $71.5 million in Q2 2025, driven by a 46% increase in net product revenue to $67.7 million.
As of June 30, 2025, Aurinia had cash, cash equivalents, restricted cash and investments of $315.1 million, compared to $358.5 million at December 31, 2024.
Cash flow generated from operations was $45.5 million for the 6 months ended June 30, 2025, compared to a negative $2.8 million in the same period of 2024.
Cost of revenue decreased to $7.1 million and $15.7 million for the 3 and 6 months ended June 30, 2025, compared to $8.9 million and $16.7 million in the same periods of 2024.
Excluding $11.5 million in cash payments related to the November 2024 restructuring, cash flow from operations was $57 million for the 6 months ended June 30, 2025.
For the 3 and 6 months ended June 30, 2025, total revenue was $70 million and $132.5 million, up 22% and 23%, respectively, from $57.2 million and $107.5 million in the same periods of 2024.
Gross margin improved to 90% and 88% for the 3 and 6 months ended June 30, 2025, compared to 84% and 85% in the same periods of 2024.
Net income was $21.5 million or $0.16 per share for the 3 months ended June 30, 2025, compared to $722,000 or $0.01 per share in the same period of 2024.
Net income was $44.9 million or $0.33 per share for the 6 months ended June 30, 2025, compared to a net loss of $10 million or $0.07 loss per share in the same period of 2024.
Net product sales of LUPKYNIS were $66.6 million and $126.5 million for the 3 and 6 months ended June 30, 2025, up 21% and 23%, respectively, from $55 million and $103.1 million in the same periods of 2024.
The company repurchased $11.2 million of its common shares for $90.8 million during the 6 months ended June 30, 2025.
Total operating expenses decreased to $49.9 million and $90.5 million for the 3 and 6 months ended June 30, 2025, compared to $58.7 million and $122.3 million in the same periods of 2024.
BioSpin Group revenue was roughly flat at $403 million; CALID Group grew in the low teens percentage; Bruker Nano grew in the low single digits; BEST segment declined in the low teens percentage.
Bruker's Q2 2025 reported revenues decreased 0.4% year-over-year to $797.4 million, with a 7.0% organic decline and a 2.9% FX tailwind.
Diluted non-GAAP EPS was $0.32, down 39% from $0.52 in Q2 2024, impacted by organic revenue decline, tariffs, and foreign exchange headwinds.
First half 2025 revenues increased 5.0% to $1.60 billion, with a 2.3% organic revenue decline.
Non-GAAP gross margin decreased 270 basis points to 48.6% in Q2 2025.
Non-GAAP operating margin for Q2 2025 was 9.0%, down 480 basis points year-over-year due to lower revenue absorption, tariffs, and currency headwinds.
Operating cash flow decreased by $85 million in H1 2025 due to timing of tax payments and other items, resulting in a free cash outflow of $110 million.
Organic revenue decline was 7.2% in the BSI segment and 4.8% in the BEST segment, with acquisitions contributing 3.7% growth.
Weighted average diluted shares increased to 151.7 million due to a follow-on equity offering.
Adjusted earnings per share (EPS) increased 3% year-over-year to $2.07 despite dilution from Paragon 28 and commercial investments.
Adjusted gross margin improved to 72.3% driven by favorable mix and lower excess and obsolescence costs, offsetting higher manufacturing costs.
Adjusted operating margin was 27.8%, down year-over-year due to increased commercial investments and Paragon 28 integration but in line with expectations.
Days of inventory on hand were reduced by nearly 20 days compared to Q2 2024.
GAAP diluted EPS was $0.77 compared to $1.18 in the prior year, impacted by acquisition-related charges and interest expense.
Operating cash flow was $378 million and free cash flow was $248 million, consistent with 2024 levels despite Paragon 28 acquisition.
Zimmer Biomet reported net sales of $2.77 billion in Q2 2025, a 7% increase on a reported basis and 2.8% organic constant currency growth excluding foreign currency and Paragon 28 acquisition.
Dafinchi