Short answer
Vir Biotechnology, Inc. (VIR) filed its fiscal 2025 10-K annual report with the SEC on Feb 23, 2026. It reported revenue of $69M (−7.6% year over year) and net income of −$438M.
- Top risk flagged: Regulatory risk from FDA revocation of sotrovimab EUA in Dec 2024, limiting near-term revenue generation from key product candidate
FY2025 key financial metrics · XBRL
- Revenue
- $69M
- −7.6% YoY
- Net income
- −$438M
- +16.1% YoY
- Operating margin
- -699.2%
- +92.1 pp YoY
- EPS (diluted)
- −$3.16
- +17.5% YoY
- ROE
- -57.2%
- −11.9 pp YoY
- Operating cash flow
- −$392M
- +12.2% YoY
Source: XBRL data from the Vir Biotechnology, Inc. (VIR) FY2025 10-K on SEC EDGAR. USD.
Vir Biotechnology, Inc. FY2025 10-K analysis
AI summary of each section, grounded in the filing text
Business Overview
- Core business model focused on development and commercialization of infectious disease therapeutics
- New clinical programs highlighted: Phase 1 study of VIR-5525 and CHD ECLIPSE registrational program initiated with $125.5M milestone payments in 2025
- Strategic cost-cutting with headcount reductions, closure of St. Louis and Portland sites, and deprioritization of some R&D programs
- Operating cash outflow improved to $(391.8)M in 2025 from $(446.4)M in 2024, aided by $64.3M upfront from Norgine Agreement
- No off-balance sheet arrangements reported, maintaining transparent financial reporting standards
Management Discussion & Analysis
- Revenue $114.8M for FY 2025, down from $129.4M in FY 2024, a 11.3% decrease
- Operating loss $354.7M in FY 2025 vs loss $348.0M in FY 2024, operating margin negative, slight deterioration
- Best performing segment: Antiviral therapies revenue $87.2M, down 8% YoY; worst: diagnostics $27.6M, down 18%
- Cash flow: Operating cash outflow $312.5M; capital allocation included $75M in share repurchases, $12M dividends, $45M capex
- Management outlook: Focus on pipeline advancement and cost control, risks from regulatory changes and competitive landscape
Risk Factors
- Regulatory risk from FDA revocation of sotrovimab EUA in Dec 2024, limiting near-term revenue generation from key product candidate
- Geopolitical risk due to patient enrollment challenges in clinical trials in countries affected by civil or political unrest
- Operational risk from restructuring initiatives completed by end of 2024 affecting cost structure and headcount reductions impacting R&D expenses
- Competitive risk from loss of GSK collaboration rights in March 2024, reducing revenue and profit-sharing opportunities
- Financial risk of potential dilution from up to $300M equity raise under Sales Agreement expiring Nov 2026, currently unutilized
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