Apellis Pharmaceuticals, Inc. (APLS) Revenue History
Annual and quarterly revenue from 2013 to present
APLS Revenue Over Time (2013–2025)
APLS Revenue Growth History
4 of 5 years with positive growth- FY2013 revenue growth
- N/A
- FY2014 revenue growth
- N/A
- FY2015 revenue growth
- N/A
- FY2016 revenue growth
- N/A
- FY2017 revenue growth
- N/A
- FY2018 revenue growth
- N/A
- FY2019 revenue growth
- N/A
- FY2020 revenue growth
- N/A
- FY2021 revenue growth
- -73.4%
- FY2022 revenue growth
- +13.3%
- FY2023 revenue growth
- +425.8%
- FY2024 revenue growth
- +97.0%
- FY2025 revenue growth
- +28.5%
| Quarter | Revenue | YoY |
|---|---|---|
| Q1 2026 | $192.0M | +15.1% |
| Q4 2025 | $199.9M | -5.9% |
| Q3 2025 | $458.6M | +133.0% |
| Q2 2025 | $178.5M | -10.6% |
| Q1 2025 | $166.8M | -3.2% |
| Q4 2024 | $212.5M | +45.2% |
| Q3 2024 | $196.8M | +78.3% |
| Q2 2024 | $199.7M | +110.3% |
Multi-year avg. share of annual revenue by fiscal quarter
Revenue Breakdown (FY 2025)
APLS's revenue distribution by segment and geography for fiscal year 2025
By Product/Segment
APLS Revenue Analysis (2013–2025)
Current Revenue & Growth
As of June 23, 2026, Apellis Pharmaceuticals, Inc. (APLS) generated trailing twelve-month (TTM) revenue of $1.03 billion, reflecting strong growth of +15.1% year-over-year. The most recent quarter (Q1 2026) recorded $192.0 million in revenue, down 4.0% sequentially.
Historical Growth Trajectory
APLS's 5-year compound annual growth rate (CAGR) stands at +32.0%, indicating outstanding long-term growth trajectory. The 3-year CAGR of +137.0% exceeds the 5-year average, indicating an acceleration in the most recent period. Apellis Pharmaceuticals, Inc.'s highest annual revenue of $1.00 billion was recorded in 2025, an all-time high.
Revenue by Segment
APLS's revenue is primarily driven by Product (69%), and Licensing And Other Revenue (31%). With over half of revenue concentrated in Product, the company has a focused business model while developing other growth vectors.
Peer Comparison
Compared to Healthcare sector peers — including RARE (+13.3% YoY), BEAM (+108.0% YoY), and INVA (+13.6% YoY) — APLS has outperformed the peer group in revenue growth. Compare APLS vs RARE →
APLS Revenue vs Peers
Revenue metrics vs comparable public companies
| Company | TTM Revenue | YoY Growth | 5Y CAGR | Op. Margin | Compare |
|---|---|---|---|---|---|
| APLSCurrent | $1.0B | +15.1% | +32.0% | 5.5% | |
 RARE | $673M | +13.3% | +19.9% | -79.5% | |
 BEAM | $140M | +108.0% | +466.3% | -274.6% | |
 INVA | $425M | +13.6% | +4.8% | 38.5% | |
 BCAB | $2M | -81.8% | +36.1% | -2965.3% |
APLS Historical Revenue Data (2013–2025)
| Year | Revenue | YoY % | Gross Profit | Gross Margin | Op. Income | Op. Margin |
|---|---|---|---|---|---|---|
| 2025 | $1.00B | +28.5% | $901.5M | 89.8% | $55.4M | 5.5% |
| 2024 | $781.4M | +97.0% | $663.6M | 84.9% | $-164,979,000 | -21.1% |
| 2023 | $396.6M | +425.8% | $338.1M | 85.2% | $-517,121,000 | -130.4% |
| 2022 | $75.4M | +13.3% | $69.8M | 92.5% | $-594,613,000 | -788.4% |
| 2021 | $66.6M | -73.4% | $61.4M | 92.2% | $-536,277,000 | -805.7% |
| 2020 | $250.6M | - | $225.6M | 90.0% | $-213,726,000 | -85.3% |
| 2019 | $0 | - | $-595,449 | - | $-288,015,253 | - |
| 2018 | $0 | - | $-127,925,000 | - | $-127,925,000 | - |
| 2017 | $0 | - | $-50,767,000 | - | $-50,767,000 | - |
| 2016 | $0 | - | $0 | - | $-27,282,000 | - |
| 2015 | $0 | - | $0 | - | $-46,573,000 | - |
| 2014 | $0 | - | $0 | - | $-11,294,000 | - |
| 2013 | $0 | - | $0 | - | $-4,030,000 | - |
Intrinsic Valuation
DCF models, multiple analysis, and analyst estimates.
Historical Returns
13+ years return with dividends reinvested.
DCA Calculator
See how regular investing compounds over time.
Peer Comparison
Compare growth, multiples, and margins vs sector.
APLS — Frequently Asked Questions
Quick answers to the most common questions about buying APLS stock.
Is APLS's revenue growth accelerating or slowing?
APLS revenue growth is accelerating. TTM revenue reached $1.0B, up +15.1% year-over-year — ahead of the 5-year CAGR of +32.0%. This indicates the business is expanding faster than its historical baseline.
What is APLS's revenue history from 2013 to 2026?
Apellis Pharmaceuticals, Inc. (APLS) revenue history spans 2013 to 2026. TTM revenue as of 2026 is $1.0B, growing at +15.1% YoY. The 5-year CAGR is +32.0%. Complete annual and quarterly revenue figures are available on this page, including gross profit, operating income, and margin trends.
What is APLS's long-term revenue growth rate (CAGR)?
Apellis Pharmaceuticals, Inc.'s 5-year revenue CAGR of +32.0% reflects the sustained nature of its business expansion. As of 2026, the current YoY growth rate of +15.1% is above this long-term average. CAGR is the most reliable measure of sustained revenue momentum for APLS.
Why does APLS's quarterly revenue fluctuate?
APLS quarterly revenue can fluctuate significantly between periods. A quarter-over-quarter (QoQ) change does not always indicate a trend; comparing the same quarter year-over-year (YoY) is a more reliable signal for underlying growth. Apellis Pharmaceuticals, Inc.'s revenue data from 2013 to 2026 shows full historical quarterly detail on this page.
How is APLS's revenue distributed by segment?
APLS reports revenue broken down by product line and geographic region. The segment breakdown on this page shows which business units contribute the most to total revenue as of the latest fiscal year. Concentration in a single segment above 50% indicates category dependence, while a diversified mix signals more resilient revenue streams.
How does APLS's revenue compare to industry peers?
Apellis Pharmaceuticals, Inc. (APLS) with TTM revenue of $1.0B and +15.1% YoY growth can be benchmarked against sector peers using the comparison table on this page. Revenue growth relative to peers indicates market share gains or losses. The peer section shows TTM revenue, YoY growth, and operating margin for direct comparisons.