Legend Biotech (LEGN) financial statements
Legend Biotech reported revenue of $1.0B in fiscal 2025, up 54.4% a year over 7 years.
Net income was -$297M.
Free cash flow was -$129M.
The diluted share count rose 84% over the period (dilution).
Revenue and free cash flow
Fiscal years, $ billions.
Income statement
Fiscal years, from Legend Biotech's 10-K filings with the SEC.
| Fiscal year | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|
| Revenue | $49M | $60M | $75M | $69M | $117M | $285M | $627M | $1.0B |
| Cost of revenue | — | — | $0 | $0 | $65M | $144M | $216M | $397M |
| Gross profit | — | — | $75M | $69M | $52M | $141M | $411M | $632M |
| Research and development | $61M | $162M | $232M | $313M | $336M | $382M | $414M | $415M |
| Selling, general and admin | $3M | $7M | $23M | $47M | $81M | $107M | $137M | $136M |
| Operating income | — | — | — | — | — | -$528M | -$310M | -$136M |
| Interest expense | $82,000 | $223,000 | $4M | $900,000 | $11M | $22M | $22M | $21M |
| Pre-tax income | -$2M | -$127M | -$308M | -$407M | -$446M | -$520M | -$158M | -$283M |
| Income tax | $1M | -$26M | -$42M | -$4M | $625,000 | -$2M | $19M | $14M |
| Net income | -$3M | -$102M | -$266M | -$404M | -$446M | -$518M | -$177M | -$297M |
| EPS (diluted) | -$0.01 | -$0.51 | -$1.13 | -$1.43 | -$1.40 | -$1.47 | -$0.48 | -$0.81 |
| Diluted shares | 200M | 200M | 236M | 282M | 318M | 352M | 366M | 369M |
| Gross margin | — | — | 100.0% | 100.0% | 44.1% | 49.4% | 65.5% | 61.4% |
| Operating margin | — | — | — | — | — | -185.2% | -49.3% | -13.3% |
| Net margin | -5.7% | -169.4% | -355.2% | -586.4% | -381.5% | -181.8% | -28.2% | -28.8% |
Balance sheet
Fiscal years, from Legend Biotech's 10-K filings with the SEC.
| Fiscal year | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|
| Cash and short-term investments | $210M | $83M | $456M | $689M | $786M | $1.3B | $287M | $902M |
| Receivables | — | $30M | $75M | $50M | $90,000 | $100M | $6M | $13M |
| Inventory | — | $1M | $2M | $2M | $10M | $19M | $24M | $32M |
| Total current assets | — | $207M | $594M | $950M | $1.1B | $1.5B | $1.3B | $1.2B |
| Property, plant and equipment | $28M | $45M | $72M | $103M | $105M | $109M | $99M | $116M |
| Total assets | — | $288M | $722M | $1.1B | $1.3B | $1.8B | $1.7B | $1.7B |
| Total current liabilities | — | $128M | $116M | $229M | $298M | $216M | $278M | $636M |
| Long-term debt | — | — | — | $120M | $261M | $281M | $301M | $0 |
| Total liabilities | — | $411M | $124M | $354M | $587M | $597M | $630M | $732M |
| Shareholders' equity | $253M | -$123M | $598M | $766M | $744M | $1.3B | $1.0B | $1.0B |
| Net debt | -$210M | -$83M | -$456M | -$568M | -$525M | -$996M | $14M | -$583M |
Cash flow
Fiscal years, from Legend Biotech's 10-K filings with the SEC.
| Fiscal year | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|
| Operating cash flow | $308M | -$83M | -$223M | -$198M | -$201M | -$393M | -$144M | -$100M |
| Capital spending | $21M | $27M | $30M | $45M | $22M | $23M | $14M | $29M |
| Free cash flow | $287M | -$110M | -$253M | -$244M | -$224M | -$416M | -$158M | -$129M |
| Net borrowing | — | $0 | — | — | — | — | — | — |
| Free cash flow margin | 583.4% | -184.0% | -337.7% | -354.3% | -191.1% | -145.9% | -25.2% | -12.5% |
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Open LEGN in InvestinglyQuestions
What was Legend Biotech's revenue in 2025?
$1.0B in fiscal 2025, from its 10-K filing.
How much free cash flow does Legend Biotech generate?
-$129M in fiscal 2025 (operating cash flow minus capital spending).
From Legend Biotech's annual reports filed with the SEC (XBRL data), standardised by Investingly. Information only, not investment advice.