Horizon Therapeutics (HRZN) posted fourth-quarter 2025 revenue of $648 million, a 6% increase from the same period last year, driven by continued demand for its rare disease therapies. The company reported a non-GAAP net income of $192 million, or $1.12 per share, slightly above analyst expectations.
- HRZN reported Q4 2025 revenue of $648 million, up 6% YoY
- Non-GAAP EPS of $1.12 exceeded consensus by 3.7%
- Full-year 2025 revenue reached $2.48 billion, a 5% increase
- 2026 revenue guidance: $2.55B–$2.65B; EBITDA: $1.1B–$1.15B
- Cimzia and Rimegepant drove double-digit sales growth in Q4
- Pipeline update: positive Phase 2 data for lupus therapy announced
Horizon Therapeutics (HRZN) released its financial results for the fourth quarter and full year 2025, reporting total revenue of $648 million, up 6% year-over-year, reflecting sustained uptake of its flagship products for rare autoimmune and inflammatory conditions. The company’s non-GAAP net income reached $192 million, or $1.12 per share, surpassing the consensus estimate of $1.08 by 3.7%. Full-year 2025 revenue totaled $2.48 billion, marking a 5% growth compared to 2024. The performance was supported by strong sales of Cimzia (certolizumab pegol) and Rimegepant, both of which saw double-digit revenue growth in Q4. Horizon also highlighted progress in its pipeline, including positive Phase 2 data for a novel therapy targeting systemic lupus erythematosus, which could advance into late-stage trials in 2026. The company maintained its full-year 2026 revenue guidance range of $2.55 billion to $2.65 billion, with adjusted EBITDA expected to remain in the $1.1 billion to $1.15 billion range. Despite the positive results, HRZN’s stock showed a modest 1.2% decline following the release, as investors digested the guidance and a slight reduction in projected gross margin due to manufacturing cost increases. The broader healthcare sector, tracked by the XLV ETF, was flat, while the healthcare equipment and services segment, represented by IHI, rose 0.8% on stronger-than-expected hospital capital spending data.