Neuren Pharmaceuticals (NEU) H2 2025 earnings summary

Executive summary

• Achieved net profit after tax of $30.4 million for 2025, down from $142.0 million in 2024, reflecting lower milestone and one-time revenues year-over-year.

• Total revenue from contracts with customers was $64.6 million, compared to $213.2 million in 2024, as prior year included significant milestone and voucher payments.

• Maintained strong cash position with $4.2 million in cash and $291.9 million in short-term investments at year-end.

• Continued investment in R&D, with $36.4 million in research and development costs for 2025.

Financial highlights

• Revenue from contracts with customers: $64.6 million (2025) vs $213.2 million (2024).

• Net profit after tax: $30.4 million (2025) vs $142.0 million (2024).

• Basic EPS: 23.73 cents (2025) vs 111.17 cents (2024).

• Operating cash flow: $125.4 million (2025) vs negative $11.3 million (2024).

• Total assets: $342.9 million at 31 Dec 2025, down from $409.7 million at 31 Dec 2024.

Outlook and guidance

• Directors consider the group to have adequate resources to meet obligations for at least 12 months from signing.

• Eligible for future milestone payments up to US$300 million based on sales thresholds.

• Announced intention to commence a new on-market share buy-back program post year-end, up to 5% of shares over 12 months.