Jazz Pharmaceuticals (JAZZ) Q4 2025 Earnings
How Did JAZZ Stock React to Q4 2025 Earnings?
S&P 500 over the same 30 days: −8.52%.
Did JAZZ Beat Earnings? Q4 2025 Results
Yes. Jazz Pharmaceuticals reported Q4 2025 earnings of $6.64 a share on Feb 24, 2026, beating the $6.51 consensus estimate by 2.1%. Revenue was $1.2B against a $1.2B estimate.
Jazz Pharmaceuticals closed out fiscal 2025 on a strong note, posting fourth-quarter adjusted earnings of $6.64 per diluted share, ahead of the $6.51 consensus estimate by 2.05%, while revenue of $1.20 billion beat expectations by 2.81% and rose 10.1% year over year. The neuroscience franchise did much of the heavy lifting, with Xywav generating $465.45 million in Q4 net product sales, up 16% from a year earlier, and Epidiolex contributing $287.12 million as the epilepsy therapy crossed $1.00 billion in annual sales. Oncology also contributed meaningfully, with newly launched Modeyso delivering $36.54 million in its first full quarter on market following its August 2025 FDA approval. GAAP results were weighed down by $947.86 million in acquired in-process R&D charges, primarily tied to the Chimerix acquisition, driving a full-year net loss of $356.15 million despite the solid top-line momentum. Analysts tracking the stock have noted the company's debt load as a watch item. Looking ahead, Jazz guided 2026 revenues of $4.25 billion to $4.50 billion, with a potential zanidatamab launch in gastroesophageal adenocarcinoma anticipated in the second half of next year.
- Xywav net product sales grew 16% YoY in Q4 to $465 million driven by strong new patient growth with approximately 500 net patient adds in Q4
- Epidiolex/Epidyolex surpassed $1 billion in annual sales with 9% YoY growth
- Successful Modeyso launch generating $37 million in first full quarter on market
- Zepzelca net product sales increased 15% YoY in Q4 to $90 million
- Approximately 16,175 active Xywav patients exiting Q4, comprising ~10,950 narcolepsy and ~5,225 IH patients
“2025 was an exceptional year for Jazz, representing our 21st consecutive year of top-line growth and underscoring our commitment to operational excellence as we deliver meaningful innovation for patients.”
Jazz Pharmaceuticals CEO, on the earnings call
What Was Jazz Pharmaceuticals's Outlook in Q4 2025?
For 2026, Jazz Pharmaceuticals expects total revenues of $4.25 to $4.50 billion, with double-digit growth across the combined epilepsy and oncology franchises, and Xywav revenue flat to up mid-single digits. GAAP gross margin is guided at 89%-90% (non-GAAP 90%-91%). GAAP SG&A expenses are expected between $1,424 million and $1,497 million (non-GAAP $1,260-$1,320 million). GAAP R&D expenses are expected between $811 million and $867 million (non-GAAP $725-$775 million). GAAP effective tax rate is guided at 0%-10% (non-GAAP 11.5%-13.5%). Weighted-average ordinary shares outstanding are expected to be 65-66 million. Key anticipated catalysts include the completion of the sBLA submission for zanidatamab in 1L HER2+ GEA in Q1 2026 with potential launch in 2H26.
JAZZ YoY Financials
| Metric | Q4 2025 | Q4 2024 | Year over year |
|---|---|---|---|
| Revenue | $1.2B | $1.1B | +10.1% |
| Gross Profit | $1.0B | $959.5M | +8.9% |
| Operating Income | $254.5M | $190.8M | +33.4% |
| Net Income | $203.5M | $191.1M | +6.5% |
JAZZ Revenue by Segment
Figures from SEC filings and company reports. Not investment advice.