EURONEXT-BRU$ARGX

Argenx Se · Q1 2025 earnings

Q1 2025 earnings · · Investor relations

Briefing

argenx Q2 VYVGART sales hit $949M as company turns profitable with EPS of $4.02

argenx SE reported second-quarter 2025 global product net sales of $949 million, up 97% operationally year over year and 19% sequentially, driven by VYVGART growth across myasthenia gravis and CIDP indications. Total operating income was $967 million and operating profit was $201 million versus an operating loss of $45 million in Q2 2024. Net income was $245 million with basic EPS of $4.02 (diluted $3.74). For the first half, product net sales reached $1.74 billion and net income was $415 million. The VYVGART SC prefilled syringe is approved in the U.S. and EU, with more than 2,500 CIDP patients on treatment globally. R&D spending remained elevated at $328 million in Q2 as the company advances registrational and proof-of-concept programs across efgartigimod, empasiprubart, and ARGX-119 toward Vision 2030 targets.

  • Q2 product net sales $949M (+97% operational YoY; +19% vs Q1)
  • Q2 operating profit $201M vs $(45)M loss; net income $245M
  • Basic EPS $4.02 (diluted $3.74) in Q2; H1 product sales $1.74B
  • VYVGART SC prefilled syringe launched; 2,500+ CIDP patients on treatment globally
  • ARGX-119 advancing to registrational CMS study; multiple H2 2025 pipeline readouts expected

Headline financials

Total Revenue

$949M

Previous: $398M+138.2%
EPS (adj)

$4.02

Previous: -$1.04+486.5%
Product Net Sales

$949M

No prior period
Operational Sales Growth (YoY)

97.0%

No prior period
CIDP Patients on Treatment Globally

2.5K

No prior period
R&D Expense

$328M

No prior period
Net Income

$245M

No prior period
Operating Income

$201M

No prior period

Revenue & EPS history

Argenx · Revenue · Quarterly

$949M

Q1 2025+138.2%vs Q1 2024
Beat estimate in 10 of 15 quarters(67%)
ActualEstimate

Forward guidance

argenx targets Vision 2030 with 50,000 patients treated globally, 10 labeled indications, and five Phase 3 pipeline candidates by 2030, with six registrational and six proof-of-concept readouts expected by end of 2026.

Tailwinds

  • VYVGART remains fastest-growing biologic in MG with early-stage CIDP launch momentum
  • Multiple near-term readouts including seronegative gMG, DGF, and ARGX-109 Phase 1

Headwinds

  • SG&A expenses rose to $325M in Q2 on global commercial expansion
  • Heavy R&D investment continues with $637M spent in H1

Historical earnings impact

How earnings announcements have historically affected this stock's price.

Avg. return before/after earnings

Based on 20 quarterly earnings reports · overlaid with Q1 2025

Historical avgQ1 2025

+0.3%

Avg return

Earnings day

-0.1%

Avg return

5 days after

+3.8%

Avg return

30 days after

56%

18 / 32 earnings

Positive

+11.2%

Q4 2017

Best reaction

-9.1%

Q1 2025

Worst reaction

Earnings price reactions
QuarterReport dateReaction (Day 0)+5 days+30 days
Q4 2026+1.7%-8.1%-19.0%
Q1 2025-9.1%-12.9%-5.9%
Q4 2024+0.3%-0.3%-5.4%
Q3 2024+8.0%+9.2%+11.8%
Q2 2024+6.5%+9.7%+11.3%
Q1 2024-3.0%-7.8%-2.7%
Q3 2023+6.6%+7.7%-2.9%
Q2 2023-1.1%-3.3%-2.7%
Q1 2023+3.0%+2.4%+0.9%
Q4 2022-5.9%-8.1%+1.0%
Q3 2022+1.4%-1.1%-2.6%
Q2 2022+1.8%-0.0%+7.3%
Q1 2022+8.0%+2.2%+8.0%
Q4 2021-8.7%-9.5%+11.7%
Q3 2021+8.0%+14.8%-1.2%
Q2 2021-1.0%+1.3%+9.5%
Q1 2021+6.3%+0.8%+20.4%
Q4 2020-8.4%-0.3%-10.7%
Q3 2020-2.5%+0.8%+4.9%
Q2 2020-7.8%-7.2%-8.2%
Q1 2020+5.7%+10.0%+45.0%
Q4 2019-6.1%-2.1%-13.2%
Q3 2019+0.4%+4.9%+24.8%
Q2 2019+1.5%-4.4%-6.4%
Q1 2019-3.2%-6.2%-3.0%
Q4 2018+0.4%-2.3%-6.9%
Q3 2018-5.0%-3.9%+17.2%
Q2 2018-1.2%-0.9%+1.8%
Q1 2018+2.6%+3.5%+13.2%
Q4 2017+11.2%+7.7%+5.0%
Q3 2017+1.1%+0.7%+13.4%
Q2 2017-0.6%-0.6%+4.2%
Q1 2017
Q4 2016
Q3 2016
Q2 2016
Q1 2016
Q4 2015
Q3 2015
Q2 2015
Q1 2015
Q4 2014
Q3 2014
Q2 2014
Q1 2014
Q4 2013
Q3 2013
Q2 2013
Q1 2013

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