The company recorded its first revenue of $390.0K in 2025Q3, yet it continues to struggle with profitability, posting a net margin of -23.0% for the same period.
| Sales/Revenue | 390K | 0 | 0 | 0 | 0 | 0 | 37K | 869K | 508K | 0 |
| Revenue Growth % | - | - | - | - | - | -100% | -95.74% | 71.06% | - | - |
| Cost of Goods Sold | 1.06M | 254K | 1.75M | 1.8M | 2.1M | 161K | 0 | 0 | 0 | 0 |
| COGS % of Revenue | - | - | - | - | - | - | - | - | - | - |
| Gross Profit | -668K | -254K | -1.75M | -1.8M | -2.1M | -161K | 37K | 869K | 508K | 0 |
| Gross Margin % | -171.28% | - | - | - | - | - | 100% | 100% | 100% | - |
| Gross Profit Growth % | - | 85.49% | 2.78% | 14.45% | -1206.83% | -535.14% | -95.74% | 71.06% | - | - |
| Operating Expenses | 19.62M | 18.44M | 45.72M | 28.58M | 22.43M | 31.96M | 102.06M | 77.43M | 29.96M | 13.36M |
| OpEx % of Revenue | - | - | - | - | - | - | 275832.43% | 8910.01% | 5898.23% | - |
| Selling, General & Admin | 15.57M | 7.98M | 7.48M | 12.77M | 13.82M | 11.05M | 11.28M | 8.78M | 4.46M | 3.26M |
| SG&A % of Revenue | - | - | - | - | - | - | 30497.3% | 1010.47% | 878.74% | - |
| Research & Development | 3.8M | 10.46M | 38.24M | 15.82M | 8.61M | 20.91M | 90.77M | 68.65M | 25.5M | 10.1M |
| R&D % of Revenue | - | - | - | - | - | - | 245335.14% | 7899.54% | 5019.49% | - |
| Other Operating Expenses | 254K | 0 | 0 | 0 | 0 | 0 | 196K | 401K | 0 | 8K |
| Operating Income | -20.29M | -18.7M | -47.47M | -30.38M | -24.54M | -32.13M | -102.02M | -76.56M | -29.45M | -13.36M |
| Operating Margin % | -5202.82% | - | - | - | - | - | -275732.43% | -8810.01% | -5798.23% | - |
| Operating Income Growth % | - | 60.61% | -56.23% | -23.83% | 23.62% | 68.51% | -33.26% | -159.92% | -120.49% | - |
| EBITDA | -18.98M | -18.41M | -45.72M | -28.58M | -22.43M | -31.96M | -101.87M | -76.42M | -29.39M | 0 |
| EBITDA Margin % | -4865.38% | - | - | - | - | - | -275321.62% | -8794.36% | -5785.43% | - |
| EBITDA Growth % | 27% | 59.73% | -59.95% | -27.41% | 29.82% | 68.62% | -33.3% | -160.03% | - | - |
| D&A (Non-Cash Add-back) | 1.32M | 284K | 1.75M | 1.8M | 2.1M | 161K | 152K | 136K | 65K | 13.36M |
| EBIT | -24.39M | -22.01M | -36.33M | -41.77M | -85.31M | -36.17M | -101.83M | -76.16M | -29.45M | -13.35M |
| Net Interest Income | -2.17M | 0 | 1.43M | -2.36M | -5.55M | -15.09M | -861K | -426K | 277K | 0 |
| Interest Income | 133K | 0 | 1.43M | 2.36K | 4.53K | 12.3K | 0 | 0 | 277K | 0 |
| Interest Expense | 2.3M | 0 | 0 | 2.36M | 5.55M | 15.1M | 861K | 426K | 0 | 0 |
| Other Income/Expense | -6.39M | -5.84M | 9.71M | -13.75M | -66.32M | -19.14M | -665K | -25K | 493K | 8K |
| Pretax Income | -26.68M | -24.53M | -37.76M | -44.13M | -90.86M | -51.26M | -102.69M | -76.58M | -28.96M | -13.35M |
| Pretax Margin % | -6842.31% | - | - | - | - | - | -277529.73% | -8812.89% | -5701.18% | - |
| Income Tax | 276K | 240K | 613K | 301K | 705K | 743K | 444K | 472K | 444K | 113K |
| Effective Tax Rate % | -1.03% | -0.98% | -1.62% | -0.68% | -0.78% | -1.45% | -0.43% | -0.62% | -1.53% | -0.85% |
| Net Income | -26.96M | -24.77M | -38.37M | -44.43M | -91.56M | -52.01M | -103.13M | -77.06M | -29.41M | -13.46M |
| Net Margin % | -6913.08% | - | - | - | - | - | -278729.73% | -8867.2% | -5788.58% | - |
| Net Income Growth % | 11.76% | 35.44% | 13.64% | 51.47% | -76.06% | 49.57% | -33.84% | -162.04% | -118.4% | - |
| Net Income (Continuing) | -26.96M | -24.77M | -38.37M | -44.43M | -91.56M | -52.01M | -103.13M | -77.06M | -29.41M | -13.46M |
| Discontinued Operations | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Minority Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| EPS (Diluted) | -0.59 | -1.26 | -2.96 | -3.63 | -8.41 | -32.49 | -7.10 | -98.32 | -58.08 | -26.59 |
| EPS Growth % | 62.5% | 57.43% | 18.46% | 56.84% | 74.12% | -357.61% | 92.78% | -69.28% | -118.43% | - |
| EPS (Basic) | - | -1.26 | -2.96 | -3.63 | -8.41 | -32.49 | -7.10 | -98.32 | -58.08 | -26.59 |
| Diluted Shares Outstanding | 45.8M | 19.7M | 12.96M | 12.24M | 10.89M | 24.01M | 1.05M | 631.57K | 549.15K | 13.96M |
| Basic Shares Outstanding | 45.8M | 19.7M | 12.96M | 12.24M | 10.89M | 24.01M | 1.05M | 631.57K | 549.15K | 13.96M |
| Dividend Payout Ratio | - | - | - | - | - | - | - | - | - | - |
Binary regulatory approval dependence
As indicated by the 2025Q3 financial statements, Iterum recorded its first revenue of $390.0K, marking a transition from a purely pre-revenue clinical entity to a nascent commercial stage, though the sustainability of this top-line contribution remains highly speculative pending broader regulatory and market adoption.
The emergence of revenue suggests the company is beginning to monetize its clinical assets, yet the lack of historical growth trends makes it difficult to project future trajectory. Investors should monitor whether this initial figure represents a repeatable commercial stream or merely a one-time milestone payment.
According to reported quarterly filings, the company's cost structure is dominated by R&D expenditures, which peaked at $14.9M in 2023Q3 before moderating to $1.3M in 2025Q3, reflecting the completion of critical clinical trial phases and the shift toward regulatory resubmission requirements.
The significant reduction in R&D spending appears to be a strategic effort to preserve capital, yet it leaves the company with limited flexibility for future pipeline expansion. The high volatility in these costs underscores the inherent risk of relying on a single-asset development model.
Based on the provided income statement data, Iterum continues to exhibit deep operating losses, with 2025Q3 operating income of -$7.4M, demonstrating that the company has yet to achieve the scale necessary to cover its fixed SG&A and R&D overhead through its current revenue base.
The widening gap between operating expenses and revenue suggests that the company remains in a high-risk phase where operational efficiency is secondary to survival. Without a substantial increase in revenue, the current cost structure may necessitate further dilutive financing to maintain operations.
As highlighted by the historical income statement trends, the company's reliance on periodic, non-recurring revenue streams and persistent net losses, such as the -$9.0M net loss in 2025Q3, suggests that the market may be underestimating the difficulty of achieving a sustainable commercial launch.
Short-sellers would likely focus on the potential for antimicrobial stewardship protocols to limit the addressable market for sulopenem, regardless of regulatory approval. The combination of high cash burn and the absence of a proven commercial model warrants significant caution regarding long-term equity value.
Quick answers to the most common questions about buying ITRM stock.
For fiscal year 2024, Iterum Therapeutics plc (ITRM) reported total revenue of $0.0M.
Iterum Therapeutics plc (ITRM) reported a net loss of $24.8M for the fiscal year ending 2024.