Medicure (MPH) Q2 2025 earnings summary

Executive summary

• Net revenue for Q2 2025 was $6.7 million, up from $5.2 million in Q2 2024, driven by growth in ZYPITAMAG, MARVEY/Marley Drug, and new pharmacy acquisitions.

• Net loss narrowed to $786,000 ($0.08 per share) from $1.1 million ($0.12 per share) year-over-year.

• Adjusted EBITDA improved to -$28,000 from -$514,000 in Q2 2024.

• Revenue growth was driven by Marley Drug, Gateway Pharmacy, and West Olympia Pharmacy acquisitions.

• R&D investment of $741,000 focused on advancing MC-1 for PNPO deficiency.

Financial highlights

• ZYPITAMAG sales rose 21% to $1.7 million, with strong growth through MARVEY/Marley Drug and insured channels.

• MARVEY/Marley Drug revenue increased 15% to $3.1 million, driven by ZYPITAMAG and BRENZAVVY tablets.

• AGGRASTAT revenue was $1.7 million, slightly down from $1.8 million year-over-year due to increased competition.

• Gateway Medical Pharmacy and West Olympia Pharmacy acquisitions contributed $1.1 million in Q2 revenue.

• Gross profit for the quarter was $3.4 million, up from $3.0 million year-over-year.

Outlook and guidance

• Focus remains on growing ZYPITAMAG, expanding MARVEY/Marley Drug and pharmacy business, and developing new products.

• Plans to offer ZYPITAMAG and other products through newly acquired pharmacies in future quarters.

• Short-term goal is MC1 approval for a priority review voucher; long-term focus on new intellectual property for large market opportunities.