Biogen Q1 revenue up 6% to $2.4 billion; 2025 EPS guidance cut on $165 million payment
Biogen reported first-quarter 2025 total revenue of $2.4 billion, up 6% from a year earlier, but non-GAAP diluted EPS fell 18% to $3.02 and GAAP diluted EPS fell 39% to $1.64. The company lowered its 2025 non-GAAP EPS guidance to $14.50 to $15.50 from $15.25 to $16.25, mainly due to a $165 million upfront payment to Stoke Therapeutics.
Key points
- Q1 2025 total revenue was $2,431 million, up 6% year over year; product revenue was $1.7 billion, up 1% at actual currency.
- Q1 2025 non-GAAP diluted EPS was $3.02 versus $3.67 a year earlier; GAAP diluted EPS was $1.64 versus $2.70.
- Full-year 2025 non-GAAP diluted EPS guidance is $14.50 to $15.50, down from $15.25 to $16.25 in February 2025, reflecting a roughly $0.95 hit from the Stoke payment partly offset by a $0.20 foreign exchange benefit.
- Biogen expects 2025 total revenue to decline by a mid-single digit percentage at constant currency versus 2024.
The filing
Written by AI on Nov 8, 2026, 1:30 AM ET, from this filing only. Written later: this filing was briefed after the fact, when past filings were added to the site, so the brief may be read with hindsight; the filing itself is the record of what was known on May 01, 2025.
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