Q3 25 EPS
$2.90
BEAT +66.12%
Est. $1.75
Q3 25 Revenue
$1.25B
BEAT +28.22%
Est. $974.1M
vs S&P Since Q3 25
-39.5%
TRAILING MARKET
ALNY -33.8% vs S&P +5.7%
Market Reaction
Did ALNY Beat Earnings? Q3 2025 Results
Alnylam Pharmaceuticals delivered a standout third quarter, posting non-GAAP EPS of $2.90 against a consensus estimate of $1.75, a beat of 66.12%, while revenue of $1.25 billion topped expectations of $974.12 million by 28.22% and surged 149.3% year-… Read more Alnylam Pharmaceuticals delivered a standout third quarter, posting non-GAAP EPS of $2.90 against a consensus estimate of $1.75, a beat of 66.12%, while revenue of $1.25 billion topped expectations of $974.12 million by 28.22% and surged 149.3% year-over-year. The driving force behind the quarter was the rapid commercial uptake of AMVUTTRA in ATTR cardiomyopathy, where patient demand approximately doubled sequentially from Q2, lifting the broader TTR franchise to $724.38 million in net product revenues, up 135% from a year ago. A $300 million milestone payment from Roche, tied to the first patient dosed in the Phase 3 ZENITH cardiovascular outcomes trial of zilebesiran, further padded collaboration revenues. The strong momentum prompted management to raise full-year 2025 total net product revenue guidance to $2.95 billion to $3.05 billion, a roughly $275 million increase at the midpoint, with TTR revenues now expected between $2.48 billion and $2.52 billion; Truist Securities responded by lifting its price target on the stock to $535 from $459.
Key Takeaways
- • AMVUTTRA ATTR-CM launch driving 165% YoY product revenue growth for AMVUTTRA
- • ATTR-CM patient demand for AMVUTTRA approximately doubled in Q3 vs. Q2 2025
- • Broad first-line use in new-to-treatment patients and continued adoption among patients progressing on stabilizers
- • $300 million milestone revenue from Roche for first patient dosed in ZENITH Phase 3 trial
- • Majority of AMVUTTRA patients paying $0 in out-of-pocket costs, enabling broad utilization
- • Increased royalties from global net sales of Leqvio by Novartis
ALNY YoY Financials
Q3 2025 vs Q3 2024, source: SEC Filings
ALNY Revenue by Segment
With YoY comparisons, source: SEC Filings
“Alnylam's impressive third quarter financial results underscore our ability to consistently deliver innovative medicines to patients around the world. While only in our second full quarter of the AMVUTTRA ATTR-CM launch, the TTR franchise saw remarkable year-over-year growth. AMVUTTRA's robust clinical profile, convenient quarterly administration, and broad payer coverage all continue to drive this encouraging pace of uptake and further position Alnylam as a leader in TTR. Based on the ATTR-CM launch trajectory, we are again raising our guidance and expect total net product revenues of $2.95 billion to $3.05 billion for 2025.”
— Yvonne Greenstreet, Q3 2025 Earnings Press Release
ALNY Earnings Trends
ALNY vs Market 30 Day Price Reactions
30-day stock return vs benchmark after each earnings
ALNY EPS Trend
Earnings per share: estimate vs actual
ALNY Revenue Trend
Quarterly revenue: estimate vs actual
ALNY Quarterly Results
5 quarters of earnings data
| Quarter | EPS Est. | EPS Act. | Surprise | Revenue | Rev. Surprise |
|---|---|---|---|---|---|
| Q1 26 | — | $1.99 | — | $1.17B | +4.53% |
| Q4 25 BEAT FY | $1.24 | $1.25 | +0.81% | $1.10B | -5.22% |
| FY Full Year | $4.79 | $5.08 | +6.03% | $3.71B | -1.60% |
| Q3 25 BEAT | $1.75 | $2.90 | +66.12% | $1.25B | +28.22% |
| Q2 25 BEAT | $0.15 | $0.32 | +119.63% | $773.7M | +16.79% |
| Q4 23 BEAT FY | $-1.32 | $-0.77 | +41.67% | $439.7M | -0.10% |
| FY Full Year | $-3.47 | $-3.52 | -1.44% | $1.83B | -0.02% |