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Vanda Pharmaceuticals (VNDA)
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Vanda Pharmaceuticals Income Statement 2025-2008 | VNDA
Brief overview of revenue and earnings at Vanda Pharmaceuticals
The overview follows changes across a five-year period. Revenue at Vanda Pharmaceuticals moved from $248 million in 2020 to $216 million in 2025. The cumulative result was −12.9%, corresponding to roughly −2.7% per year. The negative rate indicates weakening core operations.
The five-year change in gross profit reached −9.7%: from $225 million to $203 million. The cost base moved more slowly than the top line, which supported margins. Comparing the endpoints gives gross margins of 90.6% and 94%. A wider margin shows that the economics of the core business improved.
EBITDA changed from 28.6 million dollars to −150 million dollars (−624.2%). Operating performance weakened relative to revenue. The EBITDA share of revenue changed from 11.5% to −69.4%. The business retained less EBITDA from each unit of revenue.
Across the five years, the net result shifted from $23.3 million to −$220 million. The emergence of a loss requires close attention to costs and the operating model.
Market capitalization changed from 715 million dollars to 358 million dollars (−50%). Market expectations deteriorated over the period.
Conclusion
Signs of deterioration dominate the five-year picture. Key strengths include better sales economics. Caution is warranted because of limited operating profitability, a softer top-line trend and lower investor confidence. The next reporting periods will show whether revenue, margins, and final profitability can strengthen.
Annual Income Statement Vanda Pharmaceuticals
| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | 2012 | 2011 | 2010 | 2009 | 2008 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Market Cap |
358 M | 261 M | 233 M | 413 M | 872 M | 715 M | 691 M | 1.43 B | 725 M | 578 M | 360 M | 387 M | 396 M | 123 M | 139 M | 204 M | 381 M | - |
Shares |
58.9 M | 58.1 M | 57.4 M | 56.5 M | 55.5 M | 54.4 M | 53.1 M | 50.9 M | 44.7 M | 43.4 M | 42.3 M | 34.8 M | 30.4 M | 28.2 M | 28.1 M | 27.9 M | 27 M | - |
Historical Prices |
6.07 | 4.48 | 4.06 | 7.31 | 15.7 | 13.1 | 16.4 | 26.1 | 15.2 | 15.9 | 9.31 | 14.3 | 12.4 | 3.7 | 4.76 | 7.3 | 14.1 | 4.72 |
Net Income |
-220 M | -18.9 M | 2.5 M | 6.3 M | 33.2 M | 23.3 M | 116 M | 25.2 M | -15.6 M | -18 M | -39.9 M | 20.2 M | -20.3 M | -27.7 M | -9.8 M | 7.19 M | -35.9 M | - |
Revenue |
216 M | 199 M | 193 M | 254 M | 269 M | 248 M | 227 M | 193 M | 165 M | 146 M | 110 M | 50.2 M | 33.9 M | 32.7 M | 31.3 M | - | - | - |
Cost of Revenue |
13 M | 11.3 M | 14.8 M | 24.3 M | 25.6 M | 23.4 M | 24.5 M | 20.5 M | - | - | - | - | - | - | - | - | - | - |
Gross Profit |
203 M | 187 M | 178 M | 230 M | 243 M | 60.9 M | 203 M | 173 M | 147 M | 121 M | 86.5 M | 48.6 M | 33.9 M | 32.6 M | 31.3 M | - | - | - |
Operating Income |
-151 M | -40.7 M | -14 M | 6.33 M | 42.2 M | 27.2 M | 22.8 M | 21.7 M | -16.9 M | -18.6 M | -40.2 M | 20.1 M | -21.2 M | -29.2 M | -10.7 M | 8.84 M | -35.9 M | - |
EBITDA |
-150 M | -39.8 M | -13 M | 7.55 M | 43.5 M | 28.6 M | 24.3 M | 23.3 M | -15.2 M | -7.64 M | -27.2 M | -55.3 M | -18.9 M | -26.7 M | -9.21 M | 9.17 M | -35.5 M | - |
Operating Expenses |
354 M | 228 M | 192 M | 224 M | 201 M | 33.6 M | 180 M | 151 M | 164 M | 140 M | 127 M | 106 M | 54.3 M | 60.8 M | 42 M | -8.84 M | - | - |
General and Administrative Expenses |
238 M | 146 M | 113 M | 136 M | 124 M | 141 M | 130 M | 106 M | 124 M | 99.8 M | 84.5 M | 84.6 M | 24.6 M | 13.9 M | 11.5 M | 10.1 M | 23.7 M | - |
Annual performance
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All numbers in USD currency
Quarterly Income Statement Vanda Pharmaceuticals
| 2026-Q3 | 2026-Q2 | 2026-Q1 | 2025-Q4 | 2025-Q3 | 2025-Q2 | 2025-Q1 | 2024-Q4 | 2024-Q3 | 2024-Q2 | 2024-Q1 | 2023-Q4 | 2023-Q3 | 2023-Q2 | 2023-Q1 | 2022-Q4 | 2022-Q3 | 2022-Q2 | 2022-Q1 | 2021-Q4 | 2021-Q3 | 2021-Q2 | 2021-Q1 | 2020-Q4 | 2020-Q3 | 2020-Q2 | 2020-Q1 | 2019-Q4 | 2019-Q3 | 2019-Q2 | 2019-Q1 | 2018-Q4 | 2018-Q3 | 2018-Q2 | 2018-Q1 | 2017-Q4 | 2017-Q3 | 2017-Q2 | 2017-Q1 | 2016-Q4 | 2016-Q3 | 2016-Q2 | 2016-Q1 | 2015-Q4 | 2015-Q3 | 2015-Q2 | 2015-Q1 | 2014-Q4 | 2014-Q3 | 2014-Q2 | 2014-Q1 | 2013-Q4 | 2013-Q3 | 2013-Q2 | 2013-Q1 | 2012-Q4 | 2012-Q3 | 2012-Q2 | 2012-Q1 | 2011-Q4 | 2011-Q3 | 2011-Q2 | 2011-Q1 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Shares |
60.5 M | 60.2 M | 59.5 M | 56.9 M | 59.1 M | 59 M | 58.5 M | 53.5 M | 58.3 M | 58.2 M | 57.8 M | 51 M | 57.5 M | 57.5 M | 57 M | 64.1 M | 56.6 M | 56.5 M | 56.1 M | 80.6 K | 55.7 M | 55.6 M | 55.1 M | 102 K | 54.7 M | 54.5 M | 53.8 M | 85 K | 53.3 M | 53.1 M | 52.8 M | 538 K | 52.4 M | 52.2 M | 46.3 M | 65.9 M | 44.9 M | 44.7 M | 44.4 M | 174 K | 43.5 M | 43.2 M | 43.1 M | 190 K | 42.4 M | 42 M | 41.7 M | -66.7 M | 33.9 M | 33.9 M | 33.7 M | -57.7 M | 31.3 M | 28.4 M | 28.3 M | 1.67 K | 28.2 M | 28.2 M | 28.2 M | 2.08 K | 28.1 M | 28.1 M | 28.1 M |
Net Income |
-22.6 M | -62.5 M | -48.6 M | -141 M | -22.6 M | -27.2 M | -29.5 M | -4.91 M | -5.32 M | -4.52 M | -4.15 M | -2.4 M | 137 K | 1.52 M | 3.25 M | 6.86 M | 3.27 M | 2.57 M | -6.43 M | 7.08 M | 7.77 M | 9.65 M | 8.65 M | 8.19 M | 5.95 M | 8.71 M | 486 K | 4.22 M | 100 M | 11.5 M | -612 K | 10.4 M | 7.17 M | 4.61 M | 3.07 M | -1.84 M | -4.55 M | -1.53 M | -7.64 M | -604 K | -430 K | -4.62 M | -12.4 M | -14.8 M | -9.46 M | -5.39 M | -10.2 M | 69.7 M | -1.43 M | -21.6 M | -26.5 M | -7.75 M | -5.41 M | -3.38 M | -4.52 M | -6.37 M | -5.33 M | -8.01 M | -7.96 M | -5.52 M | -3.07 M | -1.34 M | 136 K |
Revenue |
69.8 M | 50.5 M | 51.7 M | 57.2 M | 56.3 M | 52.6 M | 50 M | 53.2 M | 47.7 M | 50.5 M | 47.5 M | 45.3 M | 38.8 M | 46.1 M | 62.5 M | 64.5 M | 65.3 M | 64.4 M | 60.2 M | 68 M | 70.1 M | 67.9 M | 62.7 M | 67.7 M | 60.3 M | 62.2 M | 58 M | 60.9 M | 59.5 M | 59.1 M | 47.7 M | 53 M | 49.1 M | 47.4 M | 43.6 M | 44.3 M | 41.3 M | 42.1 M | 37.4 M | 38.2 M | 38.5 M | 36 M | 33.3 M | 31.8 M | 28.3 M | 27.6 M | 22.2 M | 15.4 M | 14.8 M | 10.9 M | 9.14 M | 8.78 M | 8.71 M | 8.32 M | 8.07 M | 7.92 M | 8.29 M | 8.38 M | 8.14 M | 8.37 M | 7.97 M | 7.43 M | 7.5 M |
Cost of Revenue |
4.15 M | 3.56 M | 3.16 M | 3.83 M | 2.95 M | 2.74 M | 3.52 M | 2.59 M | 2.55 M | 2.73 M | 3.44 M | 3.46 M | 3.06 M | 3.5 M | 4.77 M | 6.24 M | 6.32 M | 6.06 M | 5.66 M | 6.24 M | 6.8 M | 6.57 M | 6.03 M | 6.41 M | 5.9 M | 5.85 M | 5.21 M | 6.22 M | 6.78 M | 6.37 M | 5.11 M | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
Gross Profit |
65.7 M | 47 M | 48.6 M | 53.4 M | 53.3 M | 49.9 M | 46.5 M | 50.6 M | 45.1 M | 47.7 M | 44 M | 41.8 M | 35.8 M | 42.6 M | 57.7 M | 58.2 M | 59 M | 58.3 M | 54.5 M | 61.8 M | 63.3 M | 61.3 M | 56.6 M | 60.9 M | 54 M | 56 M | 52.4 M | 54.3 M | 52.3 M | 52.3 M | 42.2 M | 47 M | 43.7 M | 41.7 M | 38.7 M | 39.1 M | 36.4 M | 37.1 M | 33 M | 30.9 M | 28.5 M | 26.6 M | 24.4 M | 22.7 M | 18.9 M | 18.9 M | 13 M | 14.7 M | 14.1 M | 10.7 M | 9.14 M | - | - | - | - | - | - | - | - | - | - | - | - |
Operating Income |
-23.5 M | -63.8 M | -50.2 M | -40.4 M | -31.3 M | -38.5 M | -41 M | -10.3 M | -11 M | -10.1 M | -9.24 M | -7.09 M | -6 M | -2.87 M | 2 M | 6.63 M | 3.91 M | 3.46 M | -7.67 M | 8.64 M | 10.8 M | 12.4 M | 10.3 M | 10.5 M | 7.74 M | 9.17 M | -125 K | 4.24 M | 10.8 M | 9.9 M | -2.09 M | 9.15 M | 6.23 M | 3.91 M | 2.44 M | -2.15 M | -4.92 M | -1.92 M | -7.91 M | -654 K | -653 K | -4.79 M | -12.5 M | -14.9 M | -9.54 M | -5.46 M | -10.3 M | 69.7 M | -1.45 M | -21.6 M | -26.6 M | -7.79 M | -5.43 M | -3.41 M | -4.56 M | -6.43 M | -5.4 M | -8.08 M | -8.32 M | -5.91 M | -3.29 M | -1.51 M | 7 K |
EBITDA |
-21.5 M | -61.8 M | -48.2 M | -38.6 M | -29.5 M | -36.8 M | -39.3 M | -8.53 M | -9.25 M | -8.39 M | -7.22 M | -6.14 M | -5.62 M | -2.49 M | 2.38 M | 7.01 M | 4.29 M | 3.84 M | -7.29 M | 9 M | 11.2 M | 12.7 M | 10.7 M | 10.8 M | 8.11 M | 9.54 M | 245 K | 4.61 M | 11.1 M | 10.3 M | -1.71 M | 9.53 M | 6.63 M | 4.31 M | 2.79 M | -1.72 M | -4.49 M | -1.49 M | -7.45 M | 1.45 M | 2.29 M | -1.85 M | -9.53 M | -12 M | -6.6 M | -2.52 M | -6.15 M | 70.2 M | -912 K | -21 M | -26 M | -7.41 M | -5.05 M | -3.04 M | -4.2 M | -6.05 M | -5.02 M | -7.71 M | -7.95 M | -5.53 M | -2.92 M | -1.14 M | 84 K |
Operating Expenses |
89.2 M | 111 M | 98.8 M | 93.7 M | 84.6 M | 88.4 M | 87.5 M | 60.9 M | 56.1 M | 57.9 M | 53.3 M | 48.9 M | 41.7 M | 45.4 M | 55.7 M | 51.6 M | 55.1 M | 54.9 M | 62.2 M | 53.1 M | 52.5 M | 49 M | 46.3 M | 50.4 M | 46.3 M | 46.8 M | 52.5 M | 50.1 M | 41.6 M | 42.4 M | 44.3 M | 37.8 M | 37.4 M | 37.8 M | 36.2 M | 41.2 M | 41.3 M | 39 M | 40.9 M | 31.5 M | 29.2 M | 31.4 M | 36.8 M | 37.6 M | 28.4 M | 24.3 M | 23.3 M | -55 M | 15.5 M | 32.3 M | 35.7 M | 7.79 M | 5.43 M | 3.41 M | 4.56 M | 6.43 M | 5.4 M | 8.08 M | 8.32 M | 5.91 M | 3.29 M | 1.51 M | - |
General and Administrative Expenses |
59.6 M | 71.8 M | 68.4 M | 63 M | 60.3 M | 64.6 M | 50.1 M | 39.3 M | 37.6 M | 39.5 M | 30.1 M | 23.6 M | 24.8 M | 28.4 M | 36.1 M | 32.8 M | 29.9 M | 33 M | 40.8 M | 33.4 M | 32.5 M | 28.3 M | 29.8 M | 35.6 M | 34 M | 33.9 M | 37 M | 37 M | 30.2 M | 31.5 M | 31 M | 24.9 M | 26 M | 28 M | 26.8 M | 31 M | 31.1 M | 31.4 M | 30.3 M | 23.9 M | 21.9 M | 24.7 M | 29.3 M | 28.9 M | 18.5 M | 18.4 M | 18.8 M | 17.3 M | 11.3 M | 28.1 M | 27.9 M | 9.93 M | 5.74 M | 5.26 M | 4.15 M | 3.86 M | 3.15 M | 3.6 M | 3.91 M | 3.34 M | 2.71 M | 2.57 M | 2.86 M |
Quarterly performance
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All numbers in USD currency
The income statement is one of the three key financial reports of a company Vanda Pharmaceuticals (alongside the balance sheet and the cash flow statement). It shows how the company makes money and what its expenses are:
- How much revenue the company earned
- How much it spent on production, personnel, marketing, taxes, etc.
- What profit remained in the end
Analyzing the income statement helps an investor understand whether the business generates stable and growing profits, how effectively the company controls its expenses, and whether it is capable of generating income in the future. Additionally, this analysis shows how the company copes with crises and economic cycles, and allows assessing the potential for stock price growth and dividend payments.
Features- The income statement may include both recurring and one-time items (for example, profit from the sale of assets). It is necessary to separate core metrics from one-off events for accurate analysis.
- Companies often publish interim reports (e.g., quarterly), which allows for more timely tracking of trends.
- A combined analysis of the income statement with the balance sheet and cash flow statement provides a comprehensive view of the company’s financial health.