United Therapeutics Corporation (NASDAQ: UTHR) has reported record financial results for the quarter ended September 30, 2025. The company's total revenues for the third quarter of 2025 grew by seven percent year-over-year to $799.5 million, compared to $748.9 million in the third quarter of 2024. Net income for the same period increased by 10 percent to $338.7 million, with net income per diluted share rising by 12 percent to $7.16.
Key product performance highlights include: Total Tyvaso revenues grew by 10 percent to $478.0 million in the third quarter of 2025, compared to $433.8 million in the third quarter of 2024. Orenitram revenues increased by 16 percent to $131.1 million, up from $113.2 million in the third quarter of 2024. Unituxin revenues, however, decreased by 22 percent to $47.9 million, down from $61.1 million in the third quarter of 2024. Adcirca revenues saw a significant increase of 39 percent, reaching $9.7 million compared to $7.0 million in the third quarter of 2024.
In terms of expenses: Cost of sales increased by 22 percent to $100.9 million in the third quarter of 2025, compared to $81.8 million in the same period in 2024. Research and development expenses rose by 23 percent to $127.5 million, up from $103.5 million in the third quarter of 2024. Selling, general, and administrative expenses decreased by 17 percent to $182.6 million, down from $219.2 million in the third quarter of 2024. Share-based compensation expense decreased by 6 percent to $39.1 million, compared to $41.7 million in the same period last year.
The company's income tax expense for the three months ended September 30, 2025, was $99.3 million, with an effective income tax rate (ETR) of 23 percent, compared to an ETR of 20 percent for the same period in 2024.
United Therapeutics Corporation also entered into accelerated share repurchase agreements (ASR agreements) with Citibank, N.A. to repurchase approximately $1.0 billion of its common stock in each of August 2025 and March 2024.
The company will host a webcast to discuss its third quarter 2025 financial results on Wednesday, October 29, 2025, at 9:00 a.m. Eastern Time, accessible via its website at https://ir.unither.com/events-and-presentations.
United Therapeutics Corporation remains focused on its public benefit purpose, aiming to provide a brighter future for patients through the development of novel pharmaceutical therapies and technologies that expand the availability of transplantable organs. Following these announcements, the company's shares moved -1.35%, and are now trading at a price of $415.34. Check out the company's full 8-K submission here.
