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Ascendis Pharma
Ascendis Pharma (ASND) investor relations material
Ascendis Pharma Q4 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Q4 2025 earnings summary11 Feb, 2026
Executive summary
Achieved strong execution in 2025, advancing toward Vision 2030 with a focus on global biopharma leadership and a robust TransCon product pipeline.
Q4 2025 product revenue reached €240 million, with full-year product revenue at €684 million, driven primarily by YORVIPATH and SKYTROFA.
Operating profit for Q4 2025 was €10 million, with cash flow from operating activities at €73 million.
Net loss for Q4 2025 was €34 million, improving from €38 million loss in Q4 2024; full-year net loss narrowed to €228 million from €378 million in 2024.
Cash and cash equivalents increased to €616 million as of December 31, 2025.
Financial highlights
Q4 2025 revenue reached EUR 248 million; full-year 2025 revenue was EUR 720 million, up from EUR 364 million in 2024.
YORVIPATH Q4 revenue was EUR 187 million; full-year revenue EUR 477 million. SKYTROFA Q4 revenue was EUR 53 million; full-year revenue EUR 206 million.
Gross profit for 2025 was €625 million, up from €319 million in 2024.
R&D expenses for 2025 were €304 million, slightly down from €307 million in 2024; SG&A expenses increased to €458 million from €291 million.
Ended 2025 with EUR 616 million in cash and cash equivalents, up from EUR 560 million at end of 2024.
Outlook and guidance
Expects continued strong YORVIPATH revenue growth in 2026, with some seasonality.
Projected operating cash flow of approximately €500 million in 2026.
Aspires to achieve at least €5 billion in global annual product revenue by 2030.
Anticipates full commercial launches of YORVIPATH in 10 additional countries by end of 2026.
2026 outlook excludes potential U.S. approval of TransCon CNP, which is anticipated soon.
Path to €5B revenue by 2030
Commercial plan for TransCon CNP
ROI on global commercial expansion
YORVIPATH U.S. approval rate: path to higher %?
CNP ex-U.S. launch: leverage YORVIPATH infra impact?
2030 EUR 5B revenue: relative product contributions?
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Next Ascendis Pharma earnings date
Q1 202630 Apr, 2026
Ascendis Pharma
Next Ascendis Pharma earnings date
Q1 202630 Apr, 2026
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Frequently asked questions
Ascendis Pharma A/S is a biopharmaceutical company leveraging its TransCon technology platform to develop treatments for patients with unmet medical needs in endocrinology and oncology. The company's proprietary TransCon technology is designed to enhance the efficacy, safety, and administration of existing molecules, resulting in new therapies that could potentially offer best-in-class benefits. Ascendis Pharma's approach combines the benefits of prodrug and sustained-release technologies, enabling the controlled release of active pharmaceutical ingredients. The company is headquartered in Copenhagen, Denmark, and its shares are listed on the NASDAQ under the ticker symbol ASND.
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