"Performance" BeOne Medicines achieved a GAAP net profit of USD 287 million for the year, turning a loss into a profit

Beijing Beion Pharmaceuticals (06160.HK)(ONC.US) announced its fiscal year 2025 results, reporting total revenue of USD 5.343 billion, a year-on-year increase of 40%. It recorded a GAAP net profit of USD 287 million, compared to a net loss of USD 645 million in the previous year, turning a profit mainly due to revenue growth and improved operating leverage. Earnings per share were 20 cents.

Product revenue for 2025 was USD 5.282 billion, an increase of 40%, accounting for 99% of total revenue; among them, the global sales of Baiyueze reached USD 3.9 billion, a growth of 49%. The gross margin for global product sales increased from 85.5% in the previous year to 87.8%. Free cash flow was USD 942 million, an increase of USD 1.6 billion compared to the previous year.

For fiscal year 2026 guidance, total revenue is expected to be between USD 6.2 billion and USD 6.4 billion; GAAP gross margin is expected to be at the high end of the 80% range; GAAP operating profit is projected to be between USD 700 million and USD 800 million; non-GAAP operating profit is expected to be between USD 1.4 billion and USD 1.5 billion