United Therapeutics(US:UTHR)2025-07-30 10:36Financial Performance - Total revenue for Q2 2025 reached a record $798.6 million, reflecting a 12% growth compared to $714.9 million in Q2 2024[1] - Net income for Q2 2025 was $309.5 million, an 11% increase from $278.1 million in Q2 2024[4] - Total revenues for the three months ended June 30, 2025, increased to $798.6 million, up from $714.9 million in the same period in 2024, representing an 11.5% growth[28] - Operating income for the three months ended June 30, 2025, was $364.5 million, compared to $319.9 million in 2024, reflecting a 13.9% increase[28] - Net income for the three months ended June 30, 2025, was $309.5 million, up from $278.1 million in 2024, marking an 11.3% increase[28] - Total operating expenses for the three months ended June 30, 2025, were $434.1 million, compared to $395.0 million in 2024, an increase of 9.9%[28] Revenue Sources - Tyvaso DPI generated record revenue of $315.2 million, marking a 22% increase from Q2 2024[5] - Total Tyvaso revenues grew by 18% to $469.6 million in Q2 2025, compared to $398.2 million in Q2 2024[6] - The growth in Tyvaso DPI revenues was primarily driven by an increase in quantities sold of $54.6 million[7] - The company anticipates continued double-digit revenue growth for Tyvaso and total revenues through strong commercial execution and potential late-stage pipeline developments[24] Expenses - Research and development expenses totaled $134.0 million in Q2 2025, a decrease of 4% compared to $139.6 million in Q2 2024[13] - Selling, general, and administrative expenses increased by 20% to $212.5 million in Q2 2025, up from $177.6 million in Q2 2024[15] - Share-based compensation expense decreased to $37.8 million for the three months ended June 30, 2025, down 24% from $49.7 million in 2024, mainly due to a decrease in STAP expense[19] Tax and Assets - The effective income tax rate for the three months ended June 30, 2025, was 24%, up from 22% in 2024, primarily due to a decrease in excess tax benefits from share-based compensation[20] - Cash, cash equivalents, and marketable investments as of June 30, 2025, totaled $4,966.4 million[30] - Total assets as of June 30, 2025, were $7,908.0 million, while total liabilities were $734.4 million[30] Corporate Actions - The Board of Directors authorized a share repurchase program of up to $1 billion, expiring on March 31, 2026[3] - Enrollment for the phase 3 ADVANCE OUTCOMES study of ralinepag in pulmonary arterial hypertension is complete, with data expected in the first half of 2026[1] - The phase 3 TETON 2 study of Nebulized Tyvaso in idiopathic pulmonary fibrosis is complete, with data expected in September 2025[1] - The company plans to host a webcast on July 30, 2025, to discuss its second quarter 2025 financial results[21]