Vir Biotechnology (VIR) FY2025 results: revenue $69 million, down 7.6% on the year
Vir Biotechnology, Inc. (VIR) reported revenue of $69 million for fiscal 2025, the year ended 31 December 2025, down 7.6% on the year before. Net income was -$438 million, and diluted earnings per share $-3.16. The figures are the company's own, from the 10-K it filed with the SEC on 23 February 2026.
Revenue
$69 million
-7.6% on the year
FY2018FY2025
Operating margin
-699.2%
-791.3% a year earlier
FY2018FY2025
Net income
-$438 million
FY2018FY2025
Diluted EPS
-$3.16
FY2018FY2025
this yearthe year beforeHover a bar for its figure.
The year in brief
What management said about the year
Guidance figures: 4 new.
Upfront paid in cash and equity: The upfront and near-term amount includes cash, an equity investment priced at a premium to the 30-day volume weighted average share price, and a near-term milestone.
Astellas leads U.S., holds ex-U.S.: Astellas leads U.S. commercialization, with Vir Biotechnology holding an option to co-promote. Astellas holds exclusive ex-U.S. commercialization rights.
Later-line data in planned update: The planned update covers VIR-5500 monotherapy in later-line mCRPC patients, including RECIST and PSA responses, durability and dose-response.
Monotherapy and combination studies: VIR-5500 is being evaluated as monotherapy and in combination with androgen receptor pathway inhibitors for first-line mCRPC.
Phase 3 ECLIPSE trial designs: ECLIPSE 2 evaluates switching patients who have not achieved viral suppression on bulevirtide to tobevibart and elebsiran.
$ million except per share. Read moreFree cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.
Cash flow
$ million
FY2025
FY2024
FY2023
On the year
Last 8 years
Operating cash flow
-392
-446
-779
Capital expenditure
4.8
7.3
21.6
-33.8%
Free cash flow
-397
-454
-800
Free cash flow margin
-578.5%
-611.4%
-928.7%
Cash from investing
310
499
165
-37.8%
Cash from financing
3.8
4.4
7.5
-13.7%
Depreciation and amortisation
11.7
14.6
19.5
-19.8%
Share-based compensation
49.1
78.5
111
-37.5%
Diluted shares, weighted
139m
136m
134m
+1.7%
Shares outstanding at period end
139m
137m
135m
+1.8%
Balance sheet
$ million
FY2025
FY2024
FY2023
On the year
Last 8 years
Shareholders' equity
765
1,150
1,590
-33.5%
Debt
0.0
0.0
0.0
Operating lease liabilities
89.1
90.1
112
-1.2%
Other liabilities
148
158
217
-6.2%
Total liabilities and equity
1,003
1,399
1,919
-28.3%
Fixed assets
55.6
63.2
96.0
-12.0%
Goodwill
16.9
16.9
16.9
0.0%
Intangible assets
7.8
8.1
22.6
-3.3%
Investments
543
868
1,376
-37.4%
Cash and equivalents
232
223
242
+4.1%
Other assets
147
220
166
-33.1%
Total assets
1,003
1,399
1,919
-28.3%
10-K for the year ended 31 December 2025, filed 23 February 2026: the filing.