Pharming Group N.V. (PHAR) Q4 2025 Earnings Call

Investor webinar replay

Replay transcript excerpt

Good day and thank you for standing by. Welcome to the Farming Group NV fourth quarter and full year 2025 Financial Reserve Conference call and webcast. At this time, all participants are in a listen-only mode. After the speaker's presentation, there will be a question and answer session. To ask a question during the session, please press star 1 1 on your telephone. You will then hear an automated message advising your hand is raised. To withdraw your question, please press star 1 1 again. Please note that today's conference is being recorded. I would now like to hand the conference over to your first speaker, Mr. Fabrice Chiraki, CEO. Please go ahead, Sal. Thank you, operator. Good morning and good afternoon, everyone, and welcome to our Q4 and full year 2025 earning call. I'll be joined on this call today by Liven March, our new chief commercial officer, Anurag Rallon, our chief medical officer, and Kenneth Leonard, our Chief Financial Officer. On this call, we will be making forward-looking statements that are based upon our current insights and plans. As you know, these may differ from future results. As you saw in our press release, farming ended 2025 on a strong note, operationally and financially. Total revenues grew by 15% in the fourth quarter of 2025 and by 27% for the full year. Thanks to disciplined cost management, we delivered $26 million of operating profits in 2025 compared to a loss in 2024. We also significantly increased our cash position. Operating cash flow came in at $55 million in 2025, putting our cash position at year-end above that of the end of 2024 level, before the acquisition of Abreva. 2025 was marked by significant growth of our two commercial assets, Ruconest and Joenja. Ruconest grew 26% year-on-year and by 9% in the fourth quarter, ...