OPKO Health Beats Q4 Estimates with $148.5M Revenue, Guides $125M–$140M Q1
OPKO Health posted Q4 EPS of -$0.04, beating estimates by 42.9%, with revenues of $148.5M (down 19.1% YoY) topping consensus by 7.6%. Diagnostics services fell 30.5% to $71.7M after the BioReference sale, while pharmaceutical product sales rose 16.8% to $43.7M; OPKO forecasted Q1 revenue of $125M–$140M.
1. Q4 Financial Results
In Q4 2025, OPKO Health reported a loss per share of $0.04, outperforming the $0.07 loss consensus by 42.9%. Revenue totaled $148.5 million, down 19.1% year over year but exceeding consensus estimates by 7.6%, and operating loss reached $38.3 million.
2. Segment Performance
Diagnostics segment revenue from services declined 30.5% to $71.7 million following the BioReference asset sale, while pharmaceutical product revenues climbed 16.8% to $43.7 million driven by international sales. Rayaldee sales dipped 3.3% to $8.8 million and IP and other revenues fell 21.8% to $33.7 million.
3. Profitability and Cash Position
Gross profit decreased 24.2% to $64.1 million, with gross margin contracting by 290 basis points to 43.2%. SG&A expenses declined 24.6% to $50.5 million, R&D spending rose 7.9% to $32.8 million, and cash on hand was $369.1 million versus $428.9 million at the end of Q3.
4. Guidance and Outlook
For Q1 2026, OPKO forecasts total revenues of $125 million to $140 million, with product sales of $38 million to $45 million, services of $71 million to $75 million, and IP revenue of $15 million to $20 million. Full-year 2026 revenue is projected at $530 million to $560 million.