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Amicus Therapeutics (Nasdaq: FOLD) grows 2025 revenue, advances BioMarin acquisition

Filing Impact
(High)
Filing Sentiment
(Neutral)
Form Type
8-K

Rhea-AI Filing Summary

Amicus Therapeutics reported strong full-year 2025 growth and highlighted its pending acquisition by BioMarin. Net product revenue reached $634.2 million, up 20% year-over-year (17% at constant exchange rates), driven by Galafold at $521.7 million and Pombiliti + Opfolda at $112.5 million.

GAAP results improved to a net loss of $27.1 million, compared with larger losses in prior years, while non-GAAP net income was $96.8 million, or $0.31 per basic and diluted share. Cash and investments totaled $294 million, an increase of $44 million in 2025, and total assets were $949.9 million with stockholders’ equity of $274.2 million at year-end.

The company reiterated that the proposed acquisition by BioMarin is expected to close in Q2 2026, subject to closing conditions and approvals. Given the pending transaction, Amicus is not providing 2026 financial guidance and will not host its regular quarterly earnings conference call, directing investors instead to materials on its investor relations website.

Positive

  • Strong revenue growth and non-GAAP profitability: 2025 net product revenue rose 20% year-over-year to $634.2M (17% at constant exchange rates), and the company generated non-GAAP net income of $96.8M with a $44M increase in cash and investments to $294M.

Negative

  • None.

Insights

Amicus posts strong 2025 growth, turns solidly non-GAAP profitable, and moves toward a BioMarin acquisition.

Amicus Therapeutics delivered 2025 net product revenue of $634.2M, up 20% year over year (17% at constant exchange rates). Growth was broad-based, with Galafold at $521.7M and Pombiliti + Opfolda at $112.5M, both posting double‑digit percentage increases.

On profitability, GAAP results improved to a relatively small net loss of $27.1M, while non-GAAP net income reached $96.8M, or $0.31 per share. Cash and investments ended the year at $294M, a $44M increase, alongside total assets of $949.9M and equity of $274.2M, suggesting a more resilient balance sheet.

The proposed acquisition by BioMarin, expected to close in Q2 2026 subject to closing conditions, is a potentially transformative event that could change how investors evaluate the standalone outlook. The decision to suspend 2026 guidance and conference calls reflects that the transaction, rather than independent long‑term planning, now frames expectations.

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UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C. 20549

 

FORM 8-K

 

CURRENT REPORT PURSUANT TO

SECTION 13 OR 15(d) OF THE

SECURITIES EXCHANGE ACT OF 1934

 

Date of Report (Date of earliest event reported): February 20, 2026

 

AMICUS THERAPEUTICS, INC.

(Exact Name of Registrant as Specified in Its Charter)

 

Delaware   001-33497   71-0869350
(State or Other Jurisdiction
of Incorporation)
  (Commission
File Number)
  (I.R.S. Employer
Identification No.)

 

47 Hulfish Street, Princeton, NJ 08542

(Address of Principal Executive Offices, and Zip Code)

 

609-662-2000

Registrant’s Telephone Number, Including Area Code

 

(Former Name or Former Address, if Changed Since Last Report.)

 

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

 

¨ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
¨ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
¨ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
¨ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

 

Securities registered pursuant to Section 12(b) of the Act:

 

Title of each class   Trading Symbol(s)   Name of each exchange on which registered
Common Stock Par Value $0.01   FOLD   NASDAQ

 

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (17 CFR §230.405) or Rule 12b-2 of the Securities Exchange Act of 1934 (17 CFR §240.12b-2). Emerging growth company  ¨

 

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ¨

 

 

 

 
 

 

Item 2.02 – Results of Operations and Financial Condition

 

On February 20, 2026, Amicus Therapeutics, Inc. issued a press release announcing its financial results for the fiscal year ended December 31, 2025. A copy of this press release is attached hereto as Exhibit 99.1 and incorporated herein by reference.

 

In accordance with General Instruction B.2. of Form 8-K, the information in this Current Report on Form 8-K and the Exhibits shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), or otherwise subject to the liability of that section, nor shall it be deemed incorporated by reference in any filing under the Securities Act of 1933, as amended, or the Exchange Act, except as expressly set forth by specific reference in such filing.

 

Item 9.01 Financial Statements and Exhibits

 

(d) Exhibits:

 

Exhibit No.   Description
99.1   Press Release, dated February 20, 2026
104   Cover Page Interactive Data File (embedded within the Inline XBRL document)

 

 

 

 

Signature Page

 

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

 

  AMICUS THERAPEUTICS, INC.
   
Date: February 20, 2026 By: /s/ Ellen S. Rosenberg
  Name: Ellen S. Rosenberg
  Title: Chief Legal Officer and Corporate Secretary

 

 

 

 

 

Exhibit 99.1 

 

 

Amicus Therapeutics Announces Full-Year 2025
Financial Results and Corporate Updates

 

2025 Total Revenue of $634M, up 17% Year-over-Year at CER

 

Cash Position of $294M, a $44M Increase in 2025

 

Proposed Acquisition by BioMarin Expected to Close in Q2 2026, Subject to Closing Conditions

 

PRINCETON, NJ, Feb. 20, 2026Amicus Therapeutics (Nasdaq: FOLD), a leading, global biotechnology company with a clear and compelling mission to develop and deliver transformative medicines for people living with rare diseases, today announced financial results for the full year ended December 31, 2025.

 

Full-Year 2025 Financial Highlights:

 

·Total revenues for the full year 2025 were $634.2 million, reflecting strong operational growth measured at constant exchange rates (CER)1 of 17% and a currency tailwind of ~$14 million. Fourth quarter total revenues were $185.2 million up 24%, or 20% at CER.

 

(in thousands)   Three Months Ended
December 31,
    Year over Year %
Growth
    Twelve Months Ended
December 31,
    Year over Year %
Growth
 
    2025     2024     Reported     at CER1     2025     2024     Reported     at CER1  
Galafold®   $ 150,239     $ 127,497       18 %     14 %   $ 521,702     $ 458,054       14 %     12 %
Pombiliti® + Opfolda®   $ 34,974     $ 22,209       57 %     51 %   $ 112,508     $ 70,241       60 %     56 %
Net Product Revenues   $ 185,213     $ 149,706       24 %     20 %   $ 634,210     $ 528,295       20 %     17 %

 

·Galafold (migalastat) net product sales for the full year 2025 were $521.7 million, representing a year-over-year increase of 14%, or 12% at CER1. Fourth quarter net product sales were $150.2 million. Growth was driven by continued commercial execution in all markets, net new patient starts, and strong compliance.

 

·Pombiliti (cipaglucosidase alfa-atga) + Opfolda (miglustat) net product sales for the full year 2025 were $112.5 million, representing a year-over-year increase of 60%, or 56% at CER1. Fourth quarter net product sales were $35.0 million. Growth was driven by high commercial demand from established and newly launched countries.

 

·Total GAAP operating expenses of $528.5 million for the full year 2025 increased by 17% as compared to $450.5 million for the full year 2024. Total non-GAAP operating expenses2 were up 24% to $431.9 million for the full year 2025 as compared to $347.8 million for the full year 2024.

 

·GAAP net loss of $27.1 million, or $0.09 per share basic and diluted, was achieved in the full year 2025, compared to a GAAP net loss of $56.1 million, or $0.18 per share basic and diluted, for the full year 2024. GAAP net income was $1.7 million, or $0.01 per share basic and diluted, for the fourth quarter 2025, compared to a net income of $14.7 million, or $0.05 per share basic and diluted, for the fourth quarter 2024.

 

·Non-GAAP net income2,3 was $96.8 million, or $0.31 per share basic and diluted, for the full year 2025, compared to non-GAAP net income of $73.9 million, or $0.24 per share basic and diluted, for the full year 2024. Non-GAAP net income was $31.6 million, or $0.10 per share basic and diluted, for the fourth quarter 2025, compared to a net income of $29.2 million, or $0.10 per share basic and $0.09 per share diluted, for the fourth quarter 2024.

 

·Cash, cash equivalents, and marketable securities increased to $293.5 million at December 31, 2025, as compared to $249.9 million at December 31, 2024.

 

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Corporate Updates:

 

·Proposed acquisition of Amicus by BioMarin. In December 2025, Amicus entered into a definitive agreement to be acquired by BioMarin Therapeutics for $14.50 per share in an all-cash transaction for a total equity value of approximately $4.8 billion. The agreement has been unanimously approved by the Boards of Directors of both companies and the Amicus Board of Directors unanimously recommended that Amicus’ stockholders vote to adopt the agreement. The transaction is expected to close in the second quarter of 2026, subject to regulatory clearances, approval by the stockholders of Amicus and other customary closing conditions.

 

·On January 21, 2026, Amicus and BioMarin each filed a Premerger Notification and Report Form under the HSR Act with the Antitrust Division of the U.S. Department of Justice and the U.S Federal Trade Commission (the "FTC") in connection with the Merger. On February 11, 2026, the FTC granted early termination of the waiting period under the HSR Act.

 

·Two oral presentations and 19 posters highlighting Amicus’ development programs in Fabry disease and Pompe disease presented at the 22nd Annual WORLDSymposium. New data from clinical and real world evidence studies support the growing body of evidence for Galafold and Pombiliti + Opfolda.

 

1 In order to illustrate underlying performance, Amicus discusses its results in terms of constant exchange rate (CER) growth. This represents growth calculated as if the exchange rates had remained unchanged from those used in the comparative period. 

2 Full reconciliation of GAAP results to the Company’s non-GAAP adjusted measures for all reporting periods appear in the tables to this press release. 

3 Amicus defines non-GAAP Net (Loss) Income as GAAP Net (Loss) Income excluding the impact of share-based compensation expense, changes in fair value of contingent consideration, loss on impairment of assets, depreciation and amortization, acquisition related income (expense), loss on extinguishment of debt, restructuring charges and income taxes.

 

Conference Call and Webcast

 

Given the pending acquisition of Amicus by BioMarin, Amicus is not providing financial guidance for 2026 and will not be hosting its quarterly conference call to discuss its financial results. Earnings materials are available publicly on the Investor Relations page of its website at ir.amicusrx.com.

 

About Galafold

 

Galafold® (migalastat) 123 mg capsules is an oral pharmacological chaperone of alpha-Galactosidase A (alpha-Gal A) for the treatment of Fabry disease in adults who have amenable galactosidase alpha gene (GLA) variants. In these patients, Galafold works by stabilizing the body’s own dysfunctional enzyme so that it can clear the accumulation of disease substrate. Globally, Amicus Therapeutics estimates that approximately 35 to 50 percent of people living with Fabry disease may have amenable GLA variants, though amenability rates within this range vary by geography. Galafold is approved in more than 40 countries around the world, including the U.S., EU, U.K., and Japan.

 

U.S. INDICATIONS AND USAGE

 

Galafold is indicated for the treatment of adults with a confirmed diagnosis of Fabry disease and an amenable galactosidase alpha gene (GLA) variant based on in vitro assay data.

 

This indication is approved under accelerated approval based on reduction in kidney interstitial capillary cell globotriaosylceramide (KIC GL-3) substrate. Continued approval for this indication may be contingent upon verification and description of clinical benefit in confirmatory trials.

 

U.S. IMPORTANT SAFETY INFORMATION

 

ADVERSE REACTIONS: The most common adverse reactions reported with Galafold (≥10%) were headache, nasopharyngitis, urinary tract infection, nausea and pyrexia. USE IN SPECIFIC POPULATIONS: There is insufficient clinical data on Galafold use in pregnant women to inform a drug-associated risk for major birth defects and miscarriage. Advise women of the potential risk to a fetus. It is not known if Galafold is present in human milk. Therefore, the developmental and health benefits of breastfeeding should be considered along with the mother’s clinical need for Galafold and any potential adverse effects on the breastfed child from Galafold or from the underlying maternal condition. Galafold is not recommended for use in patients with severe renal impairment or end-stage renal disease requiring dialysis. The safety and effectiveness of Galafold have not been established in pediatric patients. To report Suspected Adverse Reactions, contact Amicus Therapeutics at 1-877-4AMICUS or FDA at 1-800-FDA-1088 or www.fda.gov/medwatch. For additional information about Galafold, including the full U.S. Prescribing Information, please visit https://www.amicusrx.com/pi/Galafold.pdf.

 

About Pombiliti + Opfolda

 

Pombiliti + Opfolda, is a two-component therapy that consists of cipaglucosidase alfa-atga, a bis-M6P-enriched rhGAA that facilitates high-affinity uptake through the M6P receptor while retaining its capacity for processing into the most active form of the enzyme, and the oral enzyme stabilizer, miglustat, that’s designed to reduce loss of enzyme activity in the blood.

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U.S. INDICATIONS AND USAGE

 

POMBILITI in combination with OPFOLDA is indicated for the treatment of adult patients with late-onset Pompe disease (lysosomal acid alpha-glucosidase [GAA] deficiency) weighing ≥40 kg and who are not improving on their current enzyme replacement therapy (ERT).

 

SAFETY INFORMATION

 

HYPERSENSITIVITY REACTIONS INCLUDING ANAPHYLAXIS: Appropriate medical support measures, including cardiopulmonary resuscitation equipment, should be readily available. If a severe hypersensitivity reaction occurs, POMBILITI should be discontinued immediately and appropriate medical treatment should be initiated. INFUSION-ASSOCIATED REACTIONS (IARs): If severe IARs occur, immediately discontinue POMBILITI and initiate appropriate medical treatment. RISK OF ACUTE CARDIORESPIRATORY FAILURE IN SUSCEPTIBLE PATIENTS: Patients susceptible to fluid volume overload, or those with acute underlying respiratory illness or compromised cardiac or respiratory function, may be at risk of serious exacerbation of their cardiac or respiratory status during POMBILITI infusion. See PI for complete Boxed Warning. CONTRAINDICATION: POMBILITI in combination with Opfolda is contraindicated in pregnancy. EMBRYO-FETAL TOXICITY: May cause embryo-fetal harm. Advise females of reproductive potential of the potential risk to a fetus and to use effective contraception during treatment and for at least 60 days after the last dose. Adverse Reactions: Most common adverse reactions ≥ 5% are headache, diarrhea, fatigue, nausea, abdominal pain, and pyrexia. Please see full PRESCRIBING INFORMATION, including BOXED WARNING, for POMBILITI (cipaglucosidase alfa-atga) LINK and full PRESCRIBING INFORMATION for OPFOLDA (miglustat) LINK.

 

About Amicus Therapeutics

 

Amicus Therapeutics (Nasdaq: FOLD) is a leading, global biotechnology company with a clear and compelling mission: to develop and deliver transformative medicines for people living with rare diseases. With extraordinary patient focus, Amicus strives to redefine expectations in rare disease. For more information please visit the company’s website at www.amicusrx.com, and follow on LinkedIn.

 

Non-GAAP Financial Measures

 

In addition to financial information prepared in accordance with U.S. GAAP, this press release also contains adjusted financial measures that we believe provide investors and management with supplemental information relating to operating performance and trends that facilitate comparisons between periods and with respect to projected information. These adjusted financial measures are non-GAAP measures and should be considered in addition to, but not as a substitute for, the information prepared in accordance with U.S. GAAP. We use these non-GAAP measures as key performance measures for the purpose of evaluating operational performance and cash requirements internally. We typically exclude certain GAAP items that management does not believe affect our basic operations and that do not meet the GAAP definition of unusual or non-recurring items. Other companies may define these measures in different ways. When we provide our expectation for non-GAAP operating expenses and profitability on a forward-looking basis, a reconciliation of the differences between the non-GAAP expectation and the corresponding GAAP measure generally is not available without unreasonable effort due to potentially high variability, complexity and low visibility as to the items that would be excluded from the GAAP measure in the relevant future period, such as unusual gains or losses. The variability of the excluded items may have a significant, and potentially unpredictable, impact on our future GAAP results.

 

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Forward Looking Statement

 

This press release contains "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995 relating to the proposed acquisition of Amicus by BioMarin (the “Transaction”), prospects and timing of the potential regulatory and pricing approval of our products, and commercialization plans. The inclusion of forward-looking statements should not be regarded as a representation by us that any of our plans will be achieved or that the conditions to the consummation of the Transaction will be satisfied. Any or all of the forward-looking statements in this press release may turn out to be wrong and can be affected by inaccurate assumptions we might make or by known or unknown risks and uncertainties. For example, statements regarding the goals, progress, timing, and outcomes of discussions with regulatory authorities and pricing and reimbursement authorities, are based on current information. Actual results may differ materially from those set forth in this release due to the risks and uncertainties inherent in our business, including, without limitation: uncertainties as to the ability to obtain stockholder approval for the Transaction; the possibility that competing offers will be made; the possibility that various closing conditions for the Transaction may not be satisfied or waived, including that a governmental entity may prohibit, delay or refuse to grant approval for the consummation of the Transaction; the effects of the Transaction on relationships with employees, other business partners or governmental entities; the potential that regulatory authorities may not grant or may delay approval for our product candidates; the potential that required regulatory inspections may be delayed or not be successful and delay or prevent product approval; the potential that we may not be successful in negotiations with pricing and reimbursement authorities; the potential that we may not be successful in commercializing Galafold and/or Pombiliti and Opfolda in Europe, the UK, the US and other geographies; the potential that the Dimerix license agreement for DMX-200 may not be successful, including without limitation expectations of the timing of the Phase 3 clinical trial evaluating DMX-200; the likelihood of success of such clinical trial; the prospects for FDA approval of DMX-200 for FSGS or other indications; the estimated prevalence of FSGS; the achievement of any milestone and timing of any payments associated with milestones and the success of any efforts to commercialize DMX-200, including any projections of future financial performance or payments; the potential that we may not be able to manufacture or supply sufficient commercial products; and the potential that we will need additional funding to complete the manufacturing and commercialization of our products. With respect to statements regarding corporate financial guidance and financial goals and the expected attainment of such goals and projections of the Company's revenue, GAAP and non-GAAP profitability and cash position, actual results may differ based on market factors and the Company's ability to execute its operational and budget plans. In addition, all forward-looking statements are subject to other risks detailed in our Annual Report on Form 10-K for the year ended December 31, 2025 to be filed today. These risks, as well as other risks associated with the Transaction, are further discussed in the Proxy Statement filed with the U.S. Securities and Exchange Commission on February 2, 2026 in connection with the Transaction. You are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof. All forward-looking statements are qualified in their entirety by this cautionary statement, and we undertake no obligation to revise or update this news release to reflect events or circumstances after the date hereof.

 

CONTACT:

 

Investors: 

 

Amicus Therapeutics 

Andrew Faughnan 

Vice President, Investor Relations 

afaughnan@amicusrx.com 

(609) 662-3809

 

Media: 

 

Amicus Therapeutics 

Brendan McEvoy 

Executive Director, External Communications 

bmcevoy@amicusrx.com 

(609) 662-5005

 

FOLD-G

 

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TABLE 1

 

Amicus Therapeutics, Inc. 

Consolidated Statements of Operations 

(in thousands, except share and per share amounts)

 

   Years ended December 31, 
   2025   2024   2023 
Net product sales  $634,210   $528,295   $399,356 
Cost of goods sold   72,929    52,943    37,326 
Gross profit   561,281    475,352    362,030 
Operating expenses:               
Research and development   135,843    109,362    152,381 
Selling, general, and administrative   383,487    323,379    275,270 
Changes in fair value of contingent consideration payable           2,583 
Loss on impairment of assets   1,702        1,134 
Restructuring charges       9,188     
Depreciation and amortization   7,460    8,547    7,873 
Total operating expenses   528,492    450,476    439,241 
Income (loss) from operations   32,789    24,876    (77,211)
Other (expense) income:               
Interest income   3,317    5,407    7,078 
Interest expense   (46,159)   (49,598)   (50,149)
Loss on extinguishment of debt           (13,933)
Other (expense) income   10,244    (9,441)   (15,886)
Income (loss) before income tax   191    (28,756)   (150,101)
Income tax expense   (27,301)   (27,350)   (1,483)
Net loss attributable to common stockholders  $(27,110)  $(56,106)  $(151,584)
Net loss attributable to common stockholders per common share — basic and diluted  $(0.09)  $(0.18)  $(0.51)
Weighted-average common shares outstanding — basic and diluted   308,363,768    304,380,502    295,164,515 

 

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TABLE 2

 

Amicus Therapeutics, Inc. 

Consolidated Balance Sheets 

(in thousands, except share and per share amounts)

 

   December 31, 
   2025   2024 
Assets        
Current assets:          
Cash and cash equivalents  $214,010   $213,752 
Investments in marketable securities   79,526    36,194 
Accounts receivable, net   115,307    101,099 
Inventories, net   228,819    118,782 
Prepaid expenses and other current assets   38,511    34,909 
Total current assets   676,173    504,736 
Operating lease right-of-use assets, net   21,138    22,278 
Property and equipment, less accumulated depreciation of $31,821 and $28,775 at December 31, 2025 and 2024, respectively   27,108    29,383 
Intangible assets, less accumulated amortization of $9,085 and $5,802 at December 31, 2025 and 2024, respectively   13,915    17,198 
Goodwill   197,797    197,797 
Other non-current assets   13,739    13,641 
Total Assets  $949,870   $785,033 
Liabilities and Stockholders' Equity          
Current liabilities:          
Accounts payable  $28,630   $12,947 
Accrued expenses and other current liabilities   200,457    127,300 
Operating lease liabilities   8,741    8,455 
Total current liabilities   237,828    148,702 
Long-term debt   392,660    390,111 
Operating lease liabilities   40,962    45,078 
Other non-current liabilities   4,179    7,097 
Total liabilities   675,629    590,988 
Stockholders' equity:          
Common stock, $0.01 par value, 500,000,000 shares authorized, 310,853,963 and 299,041,653 shares issued and outstanding at December 31, 2025 and 2024, respectively   3,037    2,944 
Common stock in treasury, at cost; 7,390 shares as of December 31, 2025   (71)    
Additional paid-in capital   3,014,456    2,926,115 
Accumulated other comprehensive gain (loss):          
Foreign currency translation adjustment   24,120    5,302 
Unrealized loss on available-for-sale securities   (11)   (207)
Warrants       71 
Accumulated deficit   (2,767,290)   (2,740,180)
Total stockholders' equity   274,241    194,045 
Total Liabilities and Stockholders' Equity  $949,870   $785,033 

 

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TABLE 3

 

Amicus Therapeutics, Inc. 

Reconciliation of Non-GAAP Financial Measures 

(in thousands) 

(Unaudited)

 

    Three Months Ended
December 31,
    Twelve Months Ended
December 31,
 
    2025     2024     2025     2024  
Total operating expenses - as reported GAAP   $ 142,719     $ 118,899     $ 528,492     $ 450,476  
Research and development:                                
Share-based compensation     3,391       3,640       12,156       15,969  
Selling, general and administrative:                                
Share-based compensation     23,199       15,577       75,254       68,936  
Loss on impairment of assets                 1,702        
Restructuring Charges                       9,188  
Depreciation and amortization     1,897       2,041       7,460       8,547  
Total operating expense adjustments to reported GAAP     28,487       21,258       96,572       102,640  
Total operating expenses - as adjusted   $ 114,232     $ 97,641     $ 431,920     $ 347,836  

 

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TABLE 4

 

Amicus Therapeutics, Inc. 

Reconciliation of Non-GAAP Financial Measures 

(in thousands, except share and per share amounts) 

(Unaudited)

 

    Three Months Ended
December 31,
    Twelve Months Ended
December 31,
 
    2025     2024     2025     2024  
GAAP net income (loss)   $ 1,690     $ 14,739     $ (27,110 )   $ (56,106 )
Share-based compensation     26,590       19,217       87,410       84,905  
Depreciation and amortization     1,897       2,041       7,460       8,547  
Loss on impairment of assets                 1,702        
Restructuring charges                       9,188  
Income tax expense (benefit)     1,453       (6,805 )     27,301       27,350  
Non-GAAP net income   $ 31,630     $ 29,192     $ 96,763     $ 73,884  
                                 
Non-GAAP net income attributable to common stockholders per common share — basic   $ 0.10     $ 0.10     $ 0.31     $ 0.24  
Non-GAAP net income attributable to common stockholders per common share — diluted   $ 0.10     $ 0.09     $ 0.31     $ 0.24  
Weighted-average common shares outstanding — basic     309,028,669       306,136,125       308,363,768       304,380,502  
Weighted-average common shares outstanding — diluted     314,355,232       310,146,355       310,679,173       308,463,764  

 

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FAQ

How did Amicus Therapeutics (FOLD) perform financially in 2025?

Amicus Therapeutics reported 2025 net product revenue of $634.2 million, up 20% year-over-year and 17% at constant exchange rates. GAAP net loss was $27.1 million, while non-GAAP net income reached $96.8 million, reflecting improved underlying profitability.

What were 2025 sales for Galafold and Pombiliti + Opfolda at Amicus (FOLD)?

In 2025, Amicus generated $521.7 million in Galafold revenue and $112.5 million from Pombiliti + Opfolda. Both product franchises delivered strong year-over-year percentage growth, contributing to total net product revenue of $634.2 million across the portfolio.

What is Amicus Therapeutics 2025 profitability on a GAAP and non-GAAP basis?

Amicus reported a 2025 GAAP net loss of $27.1 million, reflecting ongoing investment and financing costs. On a non-GAAP basis, excluding items like share-based compensation and depreciation, the company reported net income of $96.8 million, or $0.31 per basic and diluted share.

What is Amicus Therapeutics cash and balance sheet position at year-end 2025?

At December 31, 2025, Amicus held $294 million in cash, cash equivalents and marketable securities, a $44 million increase during 2025. Total assets were $949.9 million, total liabilities $675.6 million, and stockholders equity $274.2 million.

What is happening with the proposed acquisition of Amicus Therapeutics (FOLD) by BioMarin?

Amicus reiterated that its proposed acquisition by BioMarin is expected to close in Q2 2026, subject to customary closing conditions and approvals. The transaction remains uncertain until conditions are satisfied, and it is shaping the companys communication and planning approach.

Why is Amicus Therapeutics not providing 2026 financial guidance or hosting earnings calls?

Given the pending acquisition by BioMarin, Amicus is not issuing 2026 financial guidance and will not hold its usual quarterly earnings conference call. Instead, it is directing stakeholders to earnings materials available on its investor relations website for detailed financial information.

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4.50B
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Biotechnology
Pharmaceutical Preparations
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United States
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