Revenue: As of FY2025, the actual value is USD 106.47 M, beating the estimate of USD 100.38 M.EPS: As of FY2025, the actual value is USD 1.35, beating the estimate of USD 1.26.EBIT: As of FY2025, the actual value is USD -62.54 M.Zevra Therapeutics, Inc. manages its business as a single operating and reporting segment, focusing on rare diseases .<h4>Revenue</h4><ul><li>Net Revenue: For the year ended December 31, 2025, Zevra Therapeutics, Inc. reported net revenue of $106.5 million, a significant increase from $23.6 million in the prior year, representing an $82.9 million increase . This was primarily driven by a $77.3 million rise in MIPLYFFA product sales and a $3.9 million increase in global Expanded Access Program (EAP) reimbursements .</li><li>MIPLYFFA Sales: Net sales of MIPLYFFA were $87.4 million for the year ended December 31, 2025, compared to $10.1 million for the year ended December 31, 2024 .</li><li>OLPRUVA Sales: Sales of OLPRUVA were $0.8 million for the year ended December 31, 2025, up from $0.1 million in 2024 .</li><li>Global EAP Revenue: Revenue from the global EAP was $13.0 million in 2025, compared to $9.1 million in 2024 .</li><li>AZSTARYS License Agreement Revenue: Zevra Therapeutics, Inc. recognized $5.0 million in revenue under the AZSTARYS License Agreement in 2025, compared to $4.3 million in 2024 .</li></ul><h4>Operational Metrics</h4><ul><li>Net Income (Loss): Zevra Therapeutics, Inc. reported a net income of $83.2 million for the year ended December 31, 2025, a substantial improvement from a net loss of - $105.5 million for the year ended December 31, 2024, an increase of $188.7 million . This was mainly due to a $148.3 million gain on the sale of a Priority Review Voucher (PRV), the $82.9 million increase in revenue, and an - $11.9 million decrease in income tax expense, partially offset by a $58.7 million impairment of intangible assets .</li><li>Cost of Product Revenue: Total cost of product revenue was $16.5 million in 2025, an increase of $9.1 million from $7.4 million in 2024 . This included $11.7 million in inventory obsolescence in 2025, compared to $5.7 million in 2024 .</li><li>Intangible Asset Amortization: Intangible asset amortization decreased to $3.9 million in 2025 from $6.2 million in 2024, a reduction of - $2.4 million .</li><li>Impairment of Intangible Assets: An impairment charge of $58.7 million related to definite-lived intangible assets was recorded in 2025 .</li><li>Research and Development (R&amp;D) Expenses: R&amp;D expenses decreased by - $29.4 million, from $42.1 million in 2024 to $12.7 million in 2025 .</li><li>Selling, General and Administrative (SG&amp;A) Expenses: SG&amp;A expenses increased by $22.7 million, from $54.9 million in 2024 to $77.6 million in 2025 .</li><li>Loss from Operations: Loss from operations improved to - $62.9 million in 2025 from - $87.0 million in 2024 .</li><li>Other Income (Expense): Other income increased significantly from - $3.1 million in expense in 2024 to $149.6 million in income in 2025, largely due to the $148.3 million gain on the sale of the PRV .</li><li>Income Tax Expense: Income tax expense decreased by - $11.9 million, from $15.4 million in 2024 to $3.4 million in 2025 .</li></ul><h4>Cash Flow</h4><ul><li>Net Cash Used in Operating Activities: Net cash used in operating activities was - $1.6 million for the year ended December 31, 2025, a substantial improvement from - $69.7 million in 2024 .</li><li>Net Cash Provided by (Used in) Investing Activities: Net cash provided by investing activities was $18.1 million in 2025, compared to net cash used of - $22.1 million in 2024 . This was primarily due to $150.0 million in proceeds from the PRV sale and $178.5 million from maturities of investments, partially offset by $310.0 million in investment purchases .</li><li>Net Cash Provided by Financing Activities: Net cash provided by financing activities was $12.1 million in 2025, compared to $82.1 million in 2024 . The 2025 figure was mainly from $8.6 million from common stock warrants exercised and $3.2 million from options exercised .</li><li>Cash, Cash Equivalents and Investments: As of December 31, 2025, Zevra Therapeutics, Inc. had cash, cash equivalents and investments totaling $238.9 million .</li></ul><h4>Unique Metrics</h4><ul><li>Priority Review Voucher (PRV) Sale: Zevra Therapeutics, Inc. consummated the sale of a transferable rare pediatric disease PRV on April 1, 2025, resulting in net proceeds of $148.3 million .</li><li>Inventory Obsolescence: Zevra Therapeutics, Inc. recognized $11.7 million in inventory obsolescence expense related to OLPRUVA inventory in 2025 .</li></ul><h4>Outlook / Guidance</h4>Zevra Therapeutics, Inc. expects to continue incurring significant expenses and anticipates minimal positive or negative net cash flows from operations in the near future, with fluctuations expected quarter-to-quarter and year-to-year . The company’s future expenses are tied to building commercial capabilities for approved products, advancing product candidates through preclinical and clinical trials, seeking regulatory approvals, and expanding its intellectual property portfolio . Zevra Therapeutics, Inc. believes its current cash and cash equivalents, along with its ability to generate operating cash flow and access borrowings, are sufficient to fund capital requirements for at least the next twelve months and the foreseeable future .

Zevra Therapeutics | 10-K: FY2025 Revenue Beats Estimate at USD 106.47 M