Fortress Biotech, Inc. income statement
In fiscal 2025, Fortress Biotech, Inc. reported revenue of $63.3m, up 9.7% on the year before, operating income of −$70.2m (a -111.0% margin) and net income of $6.8m, or −$0.07 per diluted share. Every line below comes from the company's 10-K and 10-Q filings; column headings link to the filing.
Income statement
| Fiscal year | 2013Dec 2013 | 2014Dec 2014 | 2015Dec 2015 | 2016Dec 2016 | 2017Dec 2017 | 2018Dec 2018 | 2019Dec 2019 | 2020Dec 2020 | 2021Dec 2021 | 2022Dec 2022 | 2023Dec 2023 | 2024Dec 2024 | 2025Dec 2025 | LTMJun 2026 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | 0 | 0 | 1 | 16 | 188 | 27 | 37 | 46 | 69 | 76 | 85 | 58 | 63 | 68 |
| Cost of revenue | — | — | — | — | 4 | 6 | 11 | 15 | 32 | 31 | 23 | 21 | 21 | 24 |
| Gross profit | — | — | — | — | 184 | 21 | 26 | 31 | 37 | 45 | 62 | 37 | 42 | 45 |
| Research and development | 26 | 10 | 30 | 35 | 48 | 87 | 81 | 64 | 129 | 135 | 106 | 57 | 12 | 1 |
| Selling, general and administrative | — | — | — | — | — | 53 | 56 | 61 | 87 | 114 | 91 | 88 | 96 | 69 |
| Selling and marketing | — | — | 3 | 6 | 10 | — | — | — | — | — | — | — | — | — |
| General and administrative | 10 | 10 | 19 | 28 | 51 | — | — | — | — | — | — | — | — | — |
| Operating income | −36 | −21 | −51 | −66 | −90 | −120 | −111 | −94 | −189 | −204 | −142 | −110 | −70 | −29 |
| Interest expense | 2 | 1 | 1 | 4 | 6 | — | 12 | 15 | 15 | 12 | 15 | 14 | 10 | 10 |
| Net interest income | — | — | — | — | 0 | 0 | 0 | — | — | — | — | — | — | — |
| Income before tax | — | — | −54 | −71 | −98 | −131 | −102 | −103 | −164 | −213 | −154 | −121 | −34 | 146 |
| Income tax | — | — | 0 | 0 | 2 | 0 | 0 | 1 | 0 | 0 | 1 | 0 | −1 | 5 |
| Net income | −37 | −20 | −48 | −55 | −67 | −84 | −40 | −47 | −65 | −87 | −61 | −46 | 7 | 112 |
| Diluted EPS | −$1.22 | −$0.56 | −$1.24 | −$1.38 | −$1.61 | −$1.94 | −$0.73 | −$0.65 | −$0.79 | −$15.97 | −$8.47 | −$2.69 | −$0.07 | $3.56 |
| Diluted shares (average) | 2m | 2m | 3m | 3m | 3m | 3m | 4m | 5m | 5m | 6m | 8m | 21m | 28m | 31m |
| EBITDA | −36 | −21 | −51 | −65 | −89 | −119 | −109 | −92 | −186 | −200 | −140 | −109 | −70 | −29 |
| Quarter | 2024 Q3Sept 2024 | 2024 Q4Dec 2024 | 2025 Q1Mar 2025 | 2025 Q2Jun 2025 | 2025 Q3Sept 2025 | 2025 Q4Dec 2025 | 2026 Q1Mar 2026 | 2026 Q2Jun 2026 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 15 | 15 | 13 | 16 | 18 | 16 | 16 | 19 |
| Cost of revenue | 4 | 5 | 5 | 5 | 6 | 5 | 6 | 6 |
| Gross profit | 10 | 10 | 8 | 11 | 12 | 11 | 10 | 13 |
| Research and development | 9 | 10 | 4 | 8 | 0 | −0 | 1 | 1 |
| Selling, general and administrative | 22 | 27 | 26 | 39 | 17 | 15 | 16 | 21 |
| Operating income | −22 | −24 | −22 | −36 | −7 | −5 | −8 | −10 |
| Interest expense | 6 | 3 | 3 | 3 | 3 | 2 | 3 | 1 |
| Income before tax | −27 | −26 | −25 | −12 | 9 | −6 | 142 | 1 |
| Income tax | 0 | 0 | 0 | 0 | 0 | −1 | 5 | 0 |
| Net income | −13 | −7 | −11 | 15 | 6 | −4 | 110 | −0 |
| Diluted EPS | −$0.76 | −$0.26 | −$0.48 | $0.45 | $0.11 | −$0.21 | $2.82 | −$0.08 |
| EBITDA | −22 | −24 | −22 | −36 | −7 | −5 | −8 | −10 |
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