Apellis EPS $0.47 Beats by 219%, Q4 Revenue $199.9M Exceeds Estimates
Apellis Pharmaceuticals posted Q4 adjusted EPS of $0.47, delivering a 219% surprise versus the expected $0.40 loss and improving from a year-ago loss of $0.29. Revenue of $199.91 million beat estimates by 2.85% but declined 5.9% year-over-year from $212.53 million.
1. Q4 Earnings Beat
Apellis delivered adjusted EPS of $0.47 for the quarter ended December 2025, reversing a loss of $0.29 a year ago and surpassing the consensus loss of $0.40 by 219.14%. This marks the third earnings‐surprise beat in four quarters, underscoring accelerating profitability.
2. Revenue Performance
Total revenue reached $199.91 million, topping the $194.37 million consensus by 2.85% but representing a 5.9% decline from $212.53 million in Q4 2024. Product revenue accounted for $190.34 million, marginally below last year’s figure.
3. Product Revenue Breakdown
EMPAVELI sales rose 50.3% year-over-year to $35.1 million, outpacing the $28.51 million analyst forecast, while SYFOVRE revenue dipped 7.5% to $155.2 million versus a $154.18 million estimate. Licensing and other revenue of $9.57 million beat the $7.31 million consensus but fell 55.2% annually.
4. Investor Outlook
Shares have lagged, down 10.6% year-to-date versus the S&P 500’s 0.1% decline. Sustainability of the stock’s move hinges on management’s commentary during the earnings call and any revisions to near-term earnings expectations.