Apellis 2025 Q2 Earnings Misses Targets as Net Loss Widens 11.9%

Apellis (APLS) reported its fiscal 2025 Q2 earnings on July 31st, 2025, revealing a decrease in total revenue by 10.6% to $178.49 million compared to $199.69 million in the previous year's Q2. The company's net loss widened to $42.15 million, representing an 11.9% increase from 2024 Q2's $37.66 million loss. Apellis maintained its revenue guidance for Q2 2025 at approximately $178.5 million with an EPS target of -$0.33, aligning with these results. This performance highlights ongoing financial challenges despite recent strategic developments.

Revenue

Apellis experienced a decline in total revenue, decreasing by 10.6% to $178.49 million from $199.69 million in 2024 Q2. Product revenue, net, contributed $171.39 million, while licensing and other revenue accounted for $7.11 million, culminating in the total revenue figure.

Earnings/Net Income

Apellis's losses deepened to $0.33 per share in 2025 Q2 from a loss of $0.30 per share in 2024 Q2, marking a 10.0% wider loss. Meanwhile, the net loss widened to $-42.15 million in 2025 Q2, an 11.9% increase from the $-37.66 million loss recorded in 2024 Q2. The company continues to face challenges with sustained losses over the past four years. The EPS results indicate financial difficulties for the company.

Price Action

The stock price of Apellis has jumped 8.18% during the latest trading day, has jumped 11.20% during the most recent full trading week, and has surged 29.06% month-to-date.

Post-Earnings Price Action Review

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CEO Commentary

“We are incredibly proud of the recent FDA approval of EMPAVELI in C3G and primary IC-MPGN and are now focused on bringing this transformational therapy to patients. With two C3-targeting medicines approved across four serious diseases, we have further cemented our position as a leader in complement,” said Cedric Francois, M.D., Ph.D., Chief Executive Officer at Apellis. “On top of our regulatory success, we were encouraged to see SYFOVRE’s continued market leadership in GA.” The CEO highlighted the need for ongoing investment in the company’s innovative pipeline and emphasized the commitment to addressing unmet medical needs, maintaining an optimistic outlook on future growth and market positioning.

Guidance

Apellis anticipates generating revenue of approximately $178.5 million for Q2 2025, with an EPS target of -$0.33. The company expects that existing cash, combined with product sales and the $275 million payment from the recent capped royalty purchase agreement, will be sufficient to fund operations towards sustainable profitability. As part of its strategic roadmap, Apellis will continue focusing on advancing pivotal studies in FSGS and DGF, aiming to strengthen its portfolio and market presence.

Additional News

Recently, Apellis announced organizational changes with the appointment of Leslie Meltzer, Ph.D., as Chief Research and Development Officer. Meltzer brings extensive experience in advancing programs from discovery through global approvals and commercialization, having previously served as Chief Medical Officer at Orchard Therapeutics. Additionally, Kelley Boucher joined as Chief People Officer, with over 20 years of human resources experience in biotechnology and medical device industries. Furthermore, Apellis and Sobi entered into a capped royalty purchase agreement, granting Apellis up to $300 million for 90% of future ex-U.S. royalties for Aspaveli. These strategic moves aim to bolster the company’s operational capabilities and financial stability.