OPKO HEALTH, INC.

Listed Company

OPKCIK 0000944809NasdaqLarge AcceleratedPharmaceutical PreparationsDelawareFY ends Dec 31

Period

FY 2025

Revenue

$606.88M

Net Income

$-225.68M

Total Assets

$1.93B

Equity

$1.27B

Shares Out

755.09M

Op. Cash Flow

$-178.54M

Business

OPKO Health, Inc. is a diversified healthcare company engaged in developing, manufacturing and commercializing pharmaceuticals, biologics and diagnostic testing. It offers products and services including the once-weekly human growth hormone Somatrogon (NGENLA®), the renal drug Rayaldee, early-stage multispecific immunotherapies via ModeX, the 4Kscore® prostate cancer test and a broad menu of routine and esoteric laboratory tests. The company operates two reportable segments—pharmaceuticals and diagnostics—with subsidiaries including ModeX, BioReference and FineTech. OPKO distributes products and laboratory services across the U.S., Europe, Latin America, Israel and other international markets through direct sales, partners and licensed collaborations.

Summary from filing dated 2025-03-03

Financials

Consolidated Statement of Income

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Revenues	607	713	863	1,004	1,775
Cost of Goods and Services Sold	401	495	545	716	—
Selling, general and administrative	223	304	301	373	469
Research and development	124	105	90	74	77
Contingent consideration	0	0	−1	−1	−2
Amortization of intangible assets	78	83	86	88	50
Gain on sale of assets	−102	−121	0	−19	−32
Total costs and expenses	724	865	1,021	1,230	—
Operating loss	−117	−152	−157	−226	19
Interest income	15	8	4	2	28,000
Interest expense	−108	−47	−14	−12	−19
Fair value changes of derivative instruments, net	−429,000	−26	−781,000	649,000	846,000
Other income (expense), net	−30	207	−17	−156	−15
Other income (expense), net	−124	142	−27	−165	−33
Loss before income taxes and investment losses	−241	−10	−184	−392	−14
Income tax benefit (provision)	16	−43	−4	63	−15
Net loss before investment losses	−226	−53	−189	−328	−30
Loss from investments in investees	−29,000	−18,000	−107,000	−383,000	−629,000
Net loss	−226	−53	−189	−328	−30
Loss per share Basic	−0.3	−0.08	−0.25	−0.46	−0.05
Loss per share diluted	−0.3	−0.08	−0.25	−0.46	−0.05
Weighted average number of common shares outstanding, basic	751	694	752	719	648
Weighted average number of common shares outstanding, diluted	751	694	752	719	648

Consolidated Balance Sheet

As of · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Cash, cash equivalents and current restricted cash	369	432	96	—	—
Accounts receivable, net	90	118	123	127	260
Inventory, net	66	57	66	74	87
Other current assets and prepaid expenses	57	55	25	40	27
Total current assets	582	662	309	395	823
Property, plant and equipment, net	74	70	75	83	—
Intangible assets, net	516	617	740	824	—
In-process research and development	195	195	195	195	—
Goodwill	484	529	598	596	521
Investments	14	55	16	28	11
Operating lease right-of-use assets	47	54	68	39	44
Other assets	19	19	9	9	10
Total assets	1,932	2,200	2,012	2,167	2,400
Accounts payable	41	47	70	67	82
Accrued expenses	84	118	90	98	193
Current maturities of operating leases	11	13	13	12	12
Current portion of convertible notes	0	170,000	0	3	0
Current portion of lines of credit and notes payable	10	15	27	34	—
Total current liabilities	147	193	200	213	330
Operating lease liabilities	37	49	54	28	33
Long term portion of convertible notes	85	174	214	210	188
Senior secured notes	246	246	0	—	—
Deferred tax liabilities	126	141	127	126	148
Other long-term liabilities, principally contingent consideration and lines of credit	23	33	27	27	15
Total long-term liabilities	517	642	422	392	385
Total liabilities	664	835	622	606	715
Common Stock - $0.01 par value, 1,250,000,000 shares authorized; 789,917,433 and 701,350,447 shares issued at December 31, 2025 and 2024, respectively	8	7	8	8	7
Treasury Stock - 30,849,907, and 29,799,907 shares at December 31, 2025 and December 31, 2024, respectively	−3	−2	−2	−2	−2
Additional paid-in capital	3,575	3,481	3,433	3,422	3,222
Accumulated other comprehensive loss	−21	−56	−38	−43	−30
Accumulated deficit	−2,291	−2,065	−2,012	−1,823	−1,512
Total shareholders equity	1,268	1,365	1,389	1,562	1,685
Total liabilities and equity	1,932	2,200	2,012	2,167	2,400

Consolidated Statement of Cash Flows

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Depreciation and amortization	92	98	105	109	79
Non-cash interest	66	18	3	3	9
Amortization of deferred financing costs	5	2	1	1	785,000
Equity-based compensation employees and non-employees	11	11	11	19	14
Impairment charges	1	0	0	—	—
Realized loss (gain) on disposal of fixed assets and sales of equity securities	−3	−63	1	−455,000	−34
Change in fair value of equity securities and derivative instruments	623,000	−114	18	154	4
Loss on conversion convertible senior notes	0	−7	0	0	11
Inducement expense and loss on debt conversion	33	0	0	—	—
Deferred income tax provision	−15	15	146,000	−74	10
Gain on sale of assets	−102	−121	0	−19	—
Accounts receivable, net	30	−220,000	3	129	5
Inventory, net	−4	4	15	14	31
Other current assets and prepaid expenses	−5	−4	7	−3	1
Other assets	23,000	237,000	−288,000	2	260,000
Accounts payable	−14	−21	3	−9	−11
Foreign currency measurement	178,000	4	−1	2	2
Accrued expenses and other liabilities	−48	49	−5	−91	−34
Net cash used in operating activities	−179	−183	−28	−95	38
Investments in investees	−8	0	−5	—	—
Proceeds from sale of investments	52	167	364,000	115	8
Proceeds from the sale of property, plant and equipment	287,000	242,000	3	2	66
Capital expenditures	−12	−25	−16	−25	−32
Proceeds from LabCorp Sale	198	210	0	0	—
Net cash provided by (used in) investing activities	230	352	−18	91	36
Issuance of 3.00% convertible senior notes, net (including related parties)	0	230	0	0	0
Issuance of 2044 Notes	0	250	0	0	—
Debt issuance costs	0	−13	0	0	−188,000
Share repurchase	−47	−90	0	0	—
Net activity from the exercise of common stock options and warrants	−256,000	−208,000	−272,000	−774,000	1
Repurchase of 2029 Convertible Notes	−62	−30	0	0	—
Borrowings on lines of credit	33	459	672	1,060	1,685
Repayments of lines of credit	−41	−475	−680	−1,036	−1,696
Settlement of convertible notes	−174,000	−146	−3	—	—
Net cash (used in) provided by financing activities	−118	184	−11	23	−10
Effect of exchange rate changes on cash, cash equivalents and restricted cash	3	−3	388,000	−339,000	−1
Net (decrease) increase in cash, cash equivalents and restricted cash	−63	350	−57	18	62
Interest paid	38	21	8	7	9
Income taxes paid, net of refunds	24	10	4	8	6
Operating lease right-of-use assets obtained in exchange for lease obligations	0	0	29	0	6
Assets acquired by finance leases	0	0	203,000	5	0
Common Stock options and warrants, surrendered in net exercise	346,000	529,000	301,000	—	—
Fair value of shares included in consideration from GeneDx Holdings	0	0	7	172	0

Filings

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