Arbutus Biopharma Q2 Revenue Jumps 529%, Driven by One-Time Recognition of Deferred Revenue

Arbutus Biopharma (ABUS) reported Q2 2025 revenue of $10.7 million, a 529% increase from $1.59 million in Q2 2024, driven by a one-time revenue event from the Qilu partnership termination. Operating expenses dropped 60.3% compared to Q2 2024, resulting in a GAAP net income of $2.5 million. GAAP EPS beat expectations at $0.01, compared to a loss of $0.11 in Q2 2024.

Arbutus Biopharma Corporation (Nasdaq: ABUS) reported its second-quarter 2025 financial results, showcasing a significant improvement in revenue and a substantial reduction in operating expenses. The company's revenue for the quarter ended June 30, 2025, totaled $10.7 million, marking a 529% increase from the $1.7 million reported in the same period in 2024 [1].

The surge in revenue was primarily driven by a one-time revenue event stemming from the conclusion of the strategic partnership with Qilu Pharmaceutical. This event resulted in the recognition of previously-deferred revenue [1]. Additionally, the company's operating expenses dropped by 60.3% compared to Q2 2024, contributing to a GAAP net income of $2.5 million for the quarter [1].

The company's General and Administrative expenses also saw a significant reduction, decreasing by 56.2% from $7.5 million in Q2 2024 to $3.3 million in Q2 2025. This decrease was attributed to cost-cutting efforts and reductions in litigation-related legal fees and employee compensation-related expenses [1].

Arbutus also reported a GAAP EPS of $0.01 for the quarter, which exceeded market expectations. This improvement was a stark contrast to the loss of $0.11 per share reported in the same period in 2024 [1].

The company's cash, cash equivalents, and marketable securities stood at $98.1 million as of June 30, 2025, compared to $122.6 million at the end of 2024. This decline was due to the use of $29.1 million in operating activities during the first half of 2025, partially offset by $3.1 million from the exercise of employee stock options [1].

Arbutus also announced key personnel changes during the quarter. Dr. Harry Janssen joined the Arbutus Scientific Advisory Board, while Dr. Roger Sawhney was appointed to the Board of Directors following the resignation of Anuj Hasija [1].

References:
[1] https://www.biospace.com/press-releases/arbutus-reports-second-quarter-2025-financial-results-and-provides-corporate-update