Axsome Therapeutics Inc (NASDAQ:AXSM) Reports Q2 2025 Revenue Beat and Narrower EPS Loss, Shares Surge 6% in Pre-Market Trading

Axsome Therapeutics Inc (NASDAQ:AXSM) reported second-quarter 2025 financial results, delivering revenue that exceeded analyst expectations while narrowing its earnings per share (EPS) loss compared to estimates. The market reacted positively, with shares rising over 6% in pre-market trading following the release.

Key Financial Highlights

• Revenue Beat: The company posted Q2 2025 net product revenue of $150.0 million, a 72% year-over-year increase and 24% sequential growth. This surpassed the consensus estimate of $141.6 million.
• EPS Improvement: Axsome reported a loss of $0.92 per share, better than the estimated loss of $1.11 per share.
• Auvelity Sales Growth: The company’s flagship depression treatment, Auvelity, generated $119.6 million in net sales, up 84% year-over-year and 24% quarter-over-quarter, reinforcing its position as a key revenue driver.

Market Reaction

The strong revenue performance and narrower-than-expected loss appear to have buoyed investor sentiment. The 6.3% pre-market gain suggests optimism around the company’s commercial execution and growth trajectory. Over the past month, the stock had been relatively flat (-2.3%), but the earnings beat may signal renewed confidence in Axsome’s near-term prospects.

Outlook vs. Analyst Estimates

While the press release did not provide explicit forward guidance, analysts currently project:

• Q3 2025 Revenue: $164.1 million (vs. no company-provided outlook)
• Full-Year 2025 Revenue: $623.4 million (vs. no company-provided outlook)
• Full-Year 2025 EPS: Estimated loss of $3.64

The absence of formal guidance from management does not necessarily indicate caution, but investors will likely monitor whether Axsome can sustain its revenue momentum, particularly as Auvelity continues to gain market share in the depression treatment space.

Business Update Highlights

Beyond financials, Axsome highlighted ongoing progress in its CNS-focused pipeline, including developments for AXS-05 (Alzheimer’s disease agitation and smoking cessation) and AXS-07 (migraine treatment). While these programs remain in investigational stages, their potential expansion into additional indications could provide long-term growth catalysts.

For more detailed earnings estimates and historical performance, see Axsome Therapeutics earnings and estimates.

Disclaimer: This article is not investment advice. Investors should conduct their own research or consult a financial advisor before making decisions.