NASDAQ$APLS
Apellis Pharmaceuticals Inc. · Q4 2025 earnings
Q4 2025 earnings · · Before market open · Investor relations
Briefing
Apellis reported preliminary Q4 2025 U.S. net product revenue of about $190M.
Preliminary Q4 U.S. net product revenue ~$155M SYFOVRE + ~$35M EMPAVELI (~$190M total). Full-year preliminary U.S. product revenue $689M. Cash ~$466M at year-end; path to profitability supported by product revenue.
- Preliminary Q4 U.S. product rev. ~$190M.
- SYFOVRE ~$155M Q4; EMPAVELI ~$35M.
- FY preliminary U.S. revenue $689M.
- Cash ~$466M.
Headline financials
Revenue & EPS history
Apellis · Revenue · Quarterly
$190M
Revenue by segment
Apellis · $110M total across 3 segments · Q3 2023
- SYFOVRE U.S. Net Product Revenue$75.3M—68.2%
- EMPAVELI U.S. Net Product Revenue$23.9M+35.2%21.6%
- Licensing and Other Revenue$11.2M+156.1%10.2%
Forward guidance
Prefilled syringe regulatory submission for SYFOVRE planned 1H 2026; EMPAVELI nephrology indications expanding.
Tailwinds
- SYFOVRE demand +17% injection growth.
- EMPAVELI share gains in C3G/IC-MPGN.
- Pipeline trials in FSGS/DGF initiated.
Headwinds
- Preliminary figures unaudited.
- Competitive retinal market.
- R&D spend remains high.
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 19 quarterly earnings reports · overlaid with Q4 2025
-0.7%
Avg return
Earnings day
+0.3%
Avg return
5 days after
+6.0%
Avg return
30 days after
43%
15 / 35 earnings
Positive
+18.6%
Q4 2022
Best reaction
-24.4%
Q2 2023
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q1 2026 | -0.3% | -0.1% | — | |
| Q4 2025 | -3.8% | -6.7% | -21.5% | |
| Q3 2025 | -1.0% | -6.9% | +7.2% | |
| Q2 2025 | +17.5% | +27.4% | +45.1% | |
| Q1 2025 | -5.8% | -8.4% | +0.8% | |
| Q4 2024 | -3.3% | +0.0% | -6.7% | |
| Q3 2024 | +0.9% | +5.0% | +17.1% | |
| Q2 2024 | -7.7% | -11.3% | -1.8% | |
| Q1 2024 | -13.3% | -14.0% | -15.9% | |
| Q4 2023 | -10.7% | -10.9% | -18.1% | |
| Q3 2023 | +1.4% | -6.6% | +26.6% | |
| Q2 2023 | -24.4% | -23.4% | +26.8% | |
| Q1 2023 | +9.6% | +5.2% | +3.5% | |
| Q4 2022 | +18.6% | +20.2% | +13.9% | |
| Q3 2022 | -6.6% | -10.5% | -5.8% | |
| Q2 2022 | +1.5% | +7.3% | +1.5% | |
| Q1 2022 | -0.1% | -17.6% | +2.1% | |
| Q4 2021 | +5.2% | +2.3% | +16.3% | |
| Q3 2021 | +9.3% | +27.4% | +25.9% | |
| Q2 2021 | -5.6% | -9.3% | -12.3% | |
| Q1 2021 | +6.1% | +10.5% | +23.8% | |
| Q4 2020 | +4.3% | -1.3% | -10.2% | |
| Q3 2020 | +4.9% | +12.9% | +42.4% | |
| Q2 2020 | -0.7% | -2.5% | -3.8% | |
| Q1 2020 | -6.1% | -6.6% | -7.7% | |
| Q4 2019 | +0.5% | +5.0% | -23.8% | |
| Q3 2019 | +0.1% | -2.5% | -15.6% | |
| Q2 2019 | -2.8% | -12.5% | +0.8% | |
| Q1 2019 | +1.0% | -3.2% | +12.9% | |
| Q4 2018 | -4.8% | +22.4% | +27.5% | |
| Q3 2018 | -7.3% | +2.4% | +26.9% | |
| Q2 2018 | -3.9% | -4.3% | +8.1% | |
| Q1 2018 | -8.6% | -1.8% | -16.7% | |
| Q4 2017 | -5.6% | -5.8% | +1.3% | |
| Q3 2017 | +15.3% | +28.3% | +31.4% | |
| Q2 2017 | — | — | — | |
| 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 | — | — | — |
Discussion
Share your read of this quarter. Sign-in carries your eToro identity.
Join the conversation
Sign in with eToro to post your read of this quarter and vote on others'.
Sign in with eToro