Ligand Pharmaceuticals Incorporated (LGND) Revenue History
Annual and quarterly revenue from 2013 to 2024
Compound Annual Growth Rate (CAGR)
Loading revenue history...
Revenue Growth Metrics
Revenue Breakdown (FY 2024)
LGND's revenue distribution by segment and geography for fiscal year 2024
By Product/Segment
LGND Revenue Analysis (2013–2024)
As of March 4, 2026, Ligand Pharmaceuticals Incorporated (LGND) generated trailing twelve-month (TTM) revenue of $251.2 million, reflecting explosive growth of +122.8% year-over-year. The most recent quarter (Q3 2025) recorded $115.5 million in revenue, up 142.4% sequentially.
Looking at the longer-term picture, LGND's 5-year compound annual growth rate (CAGR) stands at +6.8%, indicating steady revenue expansion. The company achieved its highest annual revenue of $251.5 million in 2018.
Revenue diversification analysis shows LGND's business is primarily driven by Royalty (28%), Intangible Royalty Assets (24%), and Royalty, Kyprolis (10%).
When compared to Healthcare sector peers including RPRX (+3.7% YoY), INVA (+14.5% YoY), and BTX, LGND has underperformed the peer group in terms of revenue growth. Compare LGND vs RPRX →
Peer Comparison
Compare LGND's revenue metrics with industry peers
| Company | TTM Revenue | YoY Growth | 5Y CAGR | Op. Margin | Compare |
|---|---|---|---|---|---|
| LGNDCurrent | $251M | +122.8% | +6.8% | -13.5% | |
 RPRX | $2.4B | +3.7% | +2.3% | 65.6% | |
 INVA | $425M | +14.5% | +4.8% | 38.5% | |
 BTX | $41M | - | - | 87.7% | |
 XOMAP | $28M | +118.0% | +9.2% | -140.3% | |
 XOMA | $28M | +191.2% | +9.2% | -140.3% |
Historical Revenue Data
| Year | Revenue | YoY % | Gross Profit | Gross Margin | Op. Income | Op. Margin |
|---|---|---|---|---|---|---|
| 2024 | $167.1M | +27.3% | $156.1M | 93.4% | $-22,606,000 | -13.5% |
| 2023 | $131.3M | -33.1% | $96.3M | 73.3% | $11.9M | 9.1% |
| 2022 | $196.2M | -18.8% | $143.4M | 73.1% | $3.0M | 1.5% |
| 2021 | $241.5M | +47.7% | $179.4M | 74.3% | $103.9M | 43.0% |
| 2020 | $163.6M | +36.0% | $133.1M | 81.4% | $37.5M | 22.9% |
| 2019 | $120.3M | -52.2% | $108.9M | 90.6% | $807.1M | 671.0% |
| 2018 | $251.5M | +78.2% | $245.1M | 97.5% | $163.7M | 65.1% |
| 2017 | $141.1M | +29.5% | $135.7M | 96.2% | $68.1M | 48.2% |
| 2016 | $109.0M | +51.5% | $103.4M | 94.9% | $43.9M | 40.3% |
| 2015 | $71.9M | +11.4% | $66.1M | 91.9% | $27.3M | 38.0% |
See LGND's True Return
Price is only half the story. See total return with reinvested dividends.
Launch CalculatorIs LGND Undervalued?
See our Bear / Base / Bull DCF models and intrinsic value estimates.
View ValuationCompare LGND vs AGIO
See how LGND stacks up against sector leader Agios Pharmaceuticals, Inc..
Start ComparisonFrequently Asked Questions
Is LGND's revenue growth accelerating or slowing?
LGND revenue is accelerating at +122.8% year-over-year, exceeding the 5-year CAGR of +6.8%. TTM revenue reached $251M. Growth momentum has increased versus prior periods.
What is LGND's long-term revenue growth rate?
Ligand Pharmaceuticals Incorporated's 5-year revenue CAGR of +6.8% reflects the sustained expansion pattern. Current YoY growth of +122.8% is above this long-term average.
How is LGND's revenue distributed by segment?
LGND reports revenue by product line and geographic region. Annual and quarterly breakdowns from 2013-2024 are available for download. Segment mix reveals concentration and diversification trends.