Ligand Pharmaceuticals Incorporated (LGND) Revenue History
Annual and quarterly revenue from 2013 to 2024
Compound Annual Growth Rate (CAGR)
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LGND Revenue Growth
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 May 6, 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 PRGO (-2.8% YoY), INVA (+14.5% YoY), and OMAB (+5.9% YoY), LGND has underperformed the peer group in terms of revenue growth. Compare LGND vs PRGO →
LGND Revenue vs Peers
Revenue metrics vs comparable public companies
| Company | TTM Revenue | YoY Growth | 5Y CAGR | Op. Margin | Compare |
|---|---|---|---|---|---|
| LGNDCurrent | $251M | +122.8% | +6.8% | -13.5% | |
 PRGO | $4.3B | -2.8% | +0.8% | -26.4% | |
 INVA | $425M | +14.5% | +4.8% | 38.5% | |
 OMAB | $16.0B | +5.9% | +24.4% | 56.0% | |
 RPRX | $2.4B | +3.7% | +2.3% | 65.6% | |
 BCYC | $73M | +146.9% | +47.5% | -341.3% |
LGND Historical Revenue Data (2013–2024)
| 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% |
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Start ComparisonLGND — Frequently Asked Questions
Quick answers to the most common questions about buying LGND stock.
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.