Nektar Therapeutics income statement
In fiscal 2025, Nektar Therapeutics reported revenue of $55.2m, down 43.9% on the year before, operating income of −$140m (a -253.7% margin) and net income of −$164m, or −$9.73 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 | 2009Dec 2009 | 2010Dec 2010 | 2011Dec 2011 | 2012Dec 2012 | 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 | 72 | 159 | 71 | 81 | 149 | 201 | 231 | 165 | 308 | 1,193 | 115 | 153 | 102 | 92 | 90 | 98 | 55 | 55 |
| Cost of revenue | — | — | — | — | — | — | — | 30 | 31 | 24 | 21 | 19 | 25 | 22 | 34 | 31 | 0 | — |
| Gross profit | — | — | — | — | — | — | — | 135 | 277 | 1,169 | 93 | 133 | 77 | 70 | 56 | 68 | 55 | — |
| Research and development | 95 | 108 | 127 | 149 | 190 | 148 | 183 | 204 | 268 | 400 | 435 | 409 | 400 | 218 | 114 | 121 | 117 | 132 |
| General and administrative | 41 | 41 | 47 | 42 | 41 | 41 | 43 | 44 | 52 | 81 | 99 | 105 | 123 | 92 | 77 | 77 | 69 | 53 |
| Operating income | −95 | −28 | −124 | −141 | −120 | −16 | −29 | −113 | −60 | 688 | −440 | −425 | −446 | −376 | −264 | −105 | −140 | −141 |
| Interest expense | 12 | 11 | 10 | 15 | 18 | 18 | 18 | 22 | 22 | 22 | 21 | 7 | 0 | 0 | — | — | — | — |
| Income before tax | −103 | −37 | −133 | −171 | −160 | −54 | −81 | −153 | −96 | 683 | −440 | −444 | −523 | −365 | −276 | −119 | −164 | −162 |
| Income tax | −0 | 1 | 1 | 0 | 2 | −1 | 1 | 1 | 1 | 1 | 1 | 0 | 1 | 3 | −0 | −0 | −0 | 0 |
| Net income | −103 | −38 | −134 | −172 | −162 | −54 | −81 | −154 | −97 | 681 | −441 | −444 | −524 | −368 | −276 | −119 | −164 | −157 |
| Diluted EPS | −$1.11 | −$0.40 | −$17.85 | −$22.50 | −$1.40 | −$0.42 | −$0.61 | −$1.10 | −$0.62 | $3.78 | −$2.52 | −$2.49 | −$2.86 | −$1.97 | −$1.45 | −$8.68 | −$9.73 | −$6.47 |
| Diluted shares (average) | — | — | 8m | 8m | 8m | 8m | 9m | 9m | 10m | 12m | 12m | 12m | 12m | 12m | 13m | 14m | 17m | 24m |
| EBITDA | −80 | −12 | −109 | −127 | −106 | −4 | −18 | −100 | −47 | 697 | −429 | −413 | −433 | −364 | −257 | −101 | −139 | −140 |
| 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 | 24 | 29 | 10 | 11 | 12 | 22 | 11 | 10 |
| Cost of revenue | 4 | 8 | 0 | 0 | 0 | 0 | — | — |
| Gross profit | 20 | 21 | 10 | 11 | 12 | 22 | — | — |
| Research and development | 35 | 29 | 30 | 30 | 27 | 30 | 36 | 39 |
| General and administrative | 19 | 17 | 24 | 17 | 16 | 11 | 13 | 13 |
| Operating income | −34 | 14 | −45 | −36 | −32 | −28 | −39 | −42 |
| Income before tax | −37 | 7 | −46 | −39 | −35 | −43 | −43 | −40 |
| Income tax | 0 | −0 | 0 | −0 | −0 | 0 | 0 | 0 |
| Net income | −37 | 7 | −51 | −42 | −36 | −36 | −45 | −41 |
| Diluted EPS | −$2.66 | $0.59 | −$3.62 | −$2.95 | −$1.87 | −$1.59 | −$1.82 | −$1.23 |
| EBITDA | −33 | 14 | −44 | −36 | −31 | −27 | −39 | −42 |
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