Amicus Therapeutics 2025 Q2 Earnings Misses Targets as Net Income Drops 55.6%

Amicus Therapeutics (FOLD) reported its fiscal 2025 Q2 earnings on Jul 31st, 2025. Amicus Therapeutics reported a wider loss than anticipated in Q2 2025, with earnings per share (EPS) missing expectations. Despite the revenue growth, the company maintained its guidance for 2025, projecting total revenue growth between 15% and 22%. The continued demand for products like Galafold and Pombiliti+Opfolda is expected to drive future growth, aligning with the existing projections.

Revenue

Amicus Therapeutics saw a notable 22.1% increase in total revenue for Q2 2025, reaching $154.69 million compared to $126.67 million in Q2 2024. Galafold generated $128.9 million, marking an impressive 12% growth year-over-year. Meanwhile, Pombiliti + Opfolda contributed $25.8 million, showcasing a robust 58% growth, driven by high commercial demand and new launches in several countries.

Earnings/Net Income

Amicus Therapeutics experienced a deeper loss of $0.08 per share in Q2 2025, compared to a loss of $0.05 per share in Q2 2024, marking a 60% increase in losses. The company's net loss widened to $-24.42 million, representing a 55.6% increase from the previous year. This continued loss indicates ongoing financial challenges for the company.

Post-Earnings Price Action Review

The strategy of buying Amicus Therapeutics (FOLD) shares following a quarter-over-quarter revenue increase revealed significant underperformance. Holding these shares for 30 days post-earnings resulted in a return of -57.83%, starkly lower than the benchmark return of 85.57%. The excess return was -143.40%, highlighting a notable discrepancy. With a compound annual growth rate (CAGR) of -15.96% over a three-year period, this approach led to considerable losses, emphasizing the challenges faced by investors taking this specific strategic path. The data underscores the volatility and risk associated with this method, contrasting sharply with broader market trends and demonstrating the difficulties of timing the market based on earnings results.

CEO Commentary

Bradley L. Campbell, CEO, expressed strong confidence in Amicus Therapeutics' performance, highlighting "another quarter of strong double-digit revenue growth" driven by core products in Pompe and Fabry diseases. He noted a "highly confident" growth trajectory with Galafold achieving 13% year-over-year patient growth and Pombiliti and Opfolda marking their "strongest quarter for commercial demand." Campbell reiterated the expectation for these products to collectively reach $1 billion in sales by 2028, emphasizing the strategic partnership with Dimerix for DMX-200 as a meaningful addition to their pipeline. He conveyed an optimistic outlook, stating, "Amicus is in a very strong position to generate meaningful value for our shareholders."

Guidance

Amicus Therapeutics reiterated its full-year 2025 guidance, projecting total revenue growth of 15% to 22% and Galafold revenue growth of 10% to 15%. For Pombiliti and Opfolda, the company expects revenue growth of 50% to 65%. The gross margin is anticipated to be in the mid-80s, with non-GAAP operating expenses estimated between $380 million and $400 million. Amicus also expects to achieve positive GAAP net income in the second half of 2025.

Additional News

Amicus Therapeutics has expanded its strategic initiatives through the in-licensing of DMX-200 from Dimerix, a promising Phase 3 asset aimed at treating FSGS, a rare kidney disease. The company secured regulatory approvals for Pombiliti + Opfolda in Canada and Australia, enhancing its global market presence. Furthermore, Amicus established a five-year agreement in the Netherlands, positioning Pombiliti + Opfolda as the preferred treatment for late-onset Pompe disease. These developments underscore Amicus's commitment to broadening its product offerings and fortifying its position in the rare disease market.