Corcept Therapeutics (CORT) financial statements
Corcept Therapeutics reported revenue of $761M in fiscal 2025, up 28.2% a year over 9 years.
Net income was $100M and the operating margin 5.9%, against 12.5% in 2016.
Free cash flow was $142M, and the company returned $173M in net buybacks.
The diluted share count rose 3% over the period (dilution).
Revenue and free cash flow
Fiscal years, $ billions.
Income statement
Fiscal years, from Corcept Therapeutics's 10-K filings with the SEC.
| Fiscal year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $81M | $159M | $251M | $306M | $354M | $366M | $402M | $482M | $675M | $761M |
| Cost of revenue | $2M | $4M | $5M | $6M | $6M | $5M | $5M | $6M | $11M | $13M |
| Gross profit | $79M | $156M | $246M | $301M | $348M | $361M | $396M | $476M | $664M | $748M |
| Research and development | $24M | $40M | $75M | $89M | $115M | $114M | $131M | $184M | $247M | $255M |
| Selling, general and admin | $45M | $62M | $81M | $100M | $105M | $122M | $153M | $184M | $280M | $449M |
| Operating income | $10M | $53M | $89M | $112M | $128M | $124M | $113M | $107M | $137M | $45M |
| Interest expense | $2M | — | — | — | — | — | — | — | — | — |
| Pre-tax income | $8M | $53M | $92M | $117M | $132M | $125M | $116M | $125M | $161M | $66M |
| Income tax | $0 | -$76M | $17M | $22M | $26M | $12M | $15M | $18M | $20M | -$33M |
| Net income | $8M | $129M | $75M | $94M | $106M | $113M | $101M | $106M | $141M | $100M |
| EPS (diluted) | $0.07 | $1.04 | $0.60 | $0.77 | $0.85 | $0.89 | $0.87 | $0.94 | $1.23 | $0.82 |
| Diluted shares | 116M | 125M | 127M | 123M | 124M | 126M | 116M | 112M | 113M | 120M |
| Gross margin | 97.5% | 97.8% | 97.9% | 98.2% | 98.4% | 98.6% | 98.7% | 98.7% | 98.4% | 98.3% |
| Operating margin | 12.5% | 33.2% | 35.6% | 36.4% | 36.2% | 34.0% | 28.0% | 22.2% | 20.3% | 5.9% |
| Net margin | 10.0% | 81.1% | 30.0% | 30.7% | 30.0% | 30.7% | 25.2% | 22.0% | 20.9% | 13.1% |
Balance sheet
Fiscal years, from Corcept Therapeutics's 10-K filings with the SEC.
| Fiscal year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash and short-term investments | $52M | $89M | $207M | $276M | $441M | $224M | $432M | $368M | $383M | $372M |
| Receivables | $10M | $15M | $18M | $20M | $26M | $28M | $31M | $41M | $54M | $60M |
| Inventory | $2M | $5M | $5M | $5M | $5M | $5M | $6M | $8M | $12M | $13M |
| Total current assets | $66M | $124M | $237M | $307M | $479M | $266M | $499M | $459M | $472M | $485M |
| Property, plant and equipment | $205,000 | $518,000 | $655,000 | $1M | $2M | $1M | $633,000 | $195,000 | $3M | $2M |
| Total assets | $69M | $221M | $312M | $412M | $572M | $424M | $583M | $622M | $841M | $837M |
| Total current liabilities | $27M | $30M | $36M | $39M | $47M | $48M | $72M | $105M | $141M | $166M |
| Long-term debt | $0 | $0 | — | — | — | — | — | — | — | — |
| Total liabilities | $27M | $30M | $36M | $41M | $48M | $48M | $82M | $115M | $161M | $189M |
| Shareholders' equity | $41M | $191M | $276M | $371M | $523M | $376M | $502M | $507M | $680M | $648M |
| Net debt | -$37M | -$31M | -$42M | -$31M | -$76M | -$78M | -$66M | -$136M | -$128M | -$120M |
Cash flow
Fiscal years, from Corcept Therapeutics's 10-K filings with the SEC.
| Fiscal year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | $18M | $61M | $116M | $136M | $152M | $168M | $120M | $127M | $198M | $142M |
| Capital spending | $194,000 | $419,000 | $298,000 | $1M | $1M | $469,000 | $413,000 | $139,000 | $2M | $211,000 |
| Free cash flow | $18M | $61M | $115M | $135M | $151M | $167M | $120M | $127M | $196M | $142M |
| Stock-based compensation | $7M | $13M | $24M | $29M | $34M | $43M | $42M | $49M | $61M | $84M |
| Share buybacks (net) | $0 | $0 | -$24M | -$31M | -$10M | — | $0 | $0 | -$16M | -$173M |
| Net borrowing | -$15M | -$15M | $0 | $0 | — | — | — | — | — | — |
| Free cash flow margin | 22.4% | 38.0% | 45.9% | 44.1% | 42.6% | 45.7% | 29.8% | 26.2% | 29.1% | 18.6% |
Questions
What was Corcept Therapeutics's revenue in 2025?
$761M in fiscal 2025, from its 10-K filing.
How much free cash flow does Corcept Therapeutics generate?
$142M in fiscal 2025 (operating cash flow minus capital spending).
From Corcept Therapeutics's annual reports filed with the SEC (XBRL data), standardised by Investingly. Information only, not investment advice.