Regeneron Q1 revenue falls 4% to $3.0 billion; GAAP EPS rises to $7.27
Regeneron reported first quarter 2025 total revenues of $3.03 billion, down 4% from a year earlier, driven by a 20% drop in net product sales, mainly EYLEA. GAAP diluted EPS rose 16% to $7.27, while non-GAAP diluted EPS fell 14% to $8.22, and the company lowered its full-year 2025 gross margin guidance.
Key points
- Total revenues $3.03 billion vs. $3.15 billion in Q1 2024; Sanofi collaboration revenue rose 30% to $1.18 billion.
- Non-GAAP diluted EPS $8.22 vs. $9.55 a year earlier (down 14%); GAAP diluted EPS $7.27 vs. $6.27 (up 16%).
- 2025 guidance: GAAP gross margin on net product sales cut to 83%–84% from 84%–85%; non-GAAP to 86%–87% from 87%–88%; capital expenditures narrowed to $850–$950 million.
- Repurchased $1.052 billion of stock in Q1 2025; $3.874 billion remained under repurchase programs as of March 31, 2025; quarterly dividend of $0.88 per share payable June 6, 2025.
The filing
Written by AI on Nov 8, 2026, 1:21 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 April 29, 2025.
Briefs are written by AI from the filing text and can contain mistakes — open the filing before acting on anything. Impact (1-5) and tone are the AI's reading of the filing for shareholders, not a price forecast. Not investment advice.