Sarepta reports $1.86 billion in 2025 product revenue

Sarepta Therapeutics Inc. (NASDAQ: SRPT) reported preliminary total net product revenue of $1.86 billion for 2025, with fourth quarter revenue reaching $369.6 million, according to a company statement.

The company's gene therapy ELEVIDYS generated $898.7 million in net product revenue for the full year, with $110.4 million recorded in the fourth quarter. Revenue for ELEVIDYS in the fourth quarter was affected by flu season and the rescheduling of six patient infusions from December into 2026.

Sarepta's phosphorodiamidate morpholino oligomers (PMO) products produced $965.6 million in net revenue for 2025, with $259.2 million in the fourth quarter.

The company ended 2025 with approximately $953.8 million in cash, cash equivalents, restricted cash and investments.

"We achieved $1.86 billion in total net product revenue, and ELEVIDYS achieved $898.7 million," said Doug Ingram, chief executive officer. "We generated another quarter of positive cash flow and ended the year with $953.8 million in cash, cash equivalents, restricted cash and investments."

The company reaffirmed its previously established annual sales floor of $500 million for ELEVIDYS but declined to provide more detailed guidance for 2026.

The preliminary financial results are unaudited and subject to adjustment. Sarepta will report final fourth quarter and full-year 2025 results in late February 2026. The figures exclude collaboration, contract manufacturing and royalty revenue.

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