Record-Breaking Revenue
Cipher Pharmaceuticals' Q2 2025 yielded the highest earnings quarter for total net revenue in the company's history, primarily driven by the U.S. Natroba business.
U.S. Natroba Business Performance
The Natroba business generated $7.8 million in revenue in Q2 2025, leading to a strong gross margin of 86% and contributing significantly to the company's record earnings.
Growth in Canadian Product Portfolio
Canadian product portfolio revenue increased by 12% in Q2 2025 compared to the same quarter last year.
Total Adjusted EBITDA Growth
Adjusted EBITDA for Q2 2025 was $7.6 million, a 148% increase compared to the same quarter in 2024.
Significant Debt Reduction
Cipher allocated $15 million to repay its revolving credit facility and utilized $2.1 million for share repurchases, further reducing its debt balance to $18 million.
State of Illinois Favorable Development
Natroba was made the preferred product for scabies treatment under Medicaid in Illinois, setting a precedent for potential similar approvals in other states.