Lilly Q4 2025 Financial Results and 2026 Outlook
- Q4 2025 revenue increased 43% to $19.3 billion, driven by Mounjaro and Zepbound.
- EPS rose 51% to $7.39, with non-GAAP EPS at $7.54, including $0.52 IPR&D charges.
- FDA approved Kwikpen for tirzepatide and expanded Jaypirca's indication.
- 2026 revenue guidance set at $80 billion to $83 billion, with non-GAAP EPS of $33.50 to $35.00.
Financial Performance
In the fourth quarter of 2025, Lilly reported a 43% increase in revenue, reaching $19.3 billion. This growth was primarily driven by volume increases from products Mounjaro and Zepbound. The company's earnings per share (EPS) rose by 51% to $7.39 on a reported basis and by 42% to $7.54 on a non-GAAP basis, both figures including $0.52 of acquired in-process research and development (IPR&D) charges.
Regulatory and Pipeline Progress
Lilly achieved significant regulatory milestones, including FDA approval for the Kwikpen device for tirzepatide and an expanded indication for Jaypirca. Additionally, the company submitted orforglipron for obesity treatment to regulatory authorities in the U.S. and Japan, and for both obesity and type 2 diabetes in the EU. The pipeline also saw positive Phase 3 results for Taltz and Zepbound in treating adults with active psoriatic arthritis and obesity, as well as for orforglipron and retatrutide in other indications.
2026 Guidance
For 2026, Lilly has issued guidance with expected revenue ranging from $80 billion to $83 billion. The non-GAAP EPS is projected to be between $33.50 and $35.00. These projections reflect the company's ongoing efforts to expand its product offerings and market reach.
Source: Lilly