Esperion Therapeutics (ESPR) Q1 2025 earnings summary

Executive summary

• Achieved 63% year-over-year total revenue growth to $65.0M (excluding a one-time 2024 milestone), with U.S. net product revenue up 41% to $34.9M, driven by expanded label, commercial initiatives, and higher prescription volumes for NEXLETOL and NEXLIZET.

• Global expansion continued with approvals in 40 countries, new launches in key international markets, and new partnerships and regulatory filings in Japan, Canada, Australia, New Zealand, and Israel.

• Expanded field reimbursement support, tripling the team and achieving significant payer access wins, including removal of prior authorizations and new formulary additions for key products.

• Bempedoic acid products received top-tier recommendations in new 2025 ACC/AHA guidelines, enhancing marketing and adoption opportunities.

• Advanced pipeline with a new program targeting primary sclerosing cholangitis (PSC), a rare liver disease with a $1B+ market opportunity.

Financial highlights

• Q1 2025 total revenue was $65.0M, down 53% year-over-year due to a one-time settlement in Q1 2024; excluding this, revenue grew 63%.

• U.S. net product revenue rose 41% year-over-year to $34.9M.

• Collaboration revenue was $30.1M, down 73% year-over-year due to the prior milestone, but up 97% excluding it.

• Net loss of $40.5M for Q1 2025, compared to net income of $61.0M in Q1 2024, primarily due to the absence of prior year one-time collaboration revenue.

• Cash and cash equivalents stood at $114.6M as of March 31, 2025.

Outlook and guidance

• Full-year 2025 operating expense guidance reiterated at $215–$235M, including $15M in non-cash stock compensation.

• Triple combination product targeted for commercialization in 2027, with regulatory pathway requiring only bioequivalence and stability data.

• Early Q2 2025 prescription trends are tracking 8% higher than Q1 2025, reflecting positive momentum after seasonal headwinds.

• Anticipates approval and launch in additional international territories in 2025.

• Management expects continued operating losses in the near term as commercialization and R&D activities persist.