Royalty Pharma PLC

royaltypharma.com

What Do They Do?

Buys royalty rights tied to biopharmaceutical drug sales, funding research institutions, biotechnology companies and pharmaceutical companies.

How Do They Make Money?

Income from financial royalty assets comes from rights to payments based directly on sales of biopharmaceutical therapies. Other royalty income includes royalties on fully amortized assets, synthetic royalties and milestones from research and development funding arrangements.

revenue

Segment	Share	Revenue	How money arrives
Income from financial royalty assets Licensed	95% FY2022: 95%		Licensed
Other royalty income and revenues	4.9% FY2022: 5.0%

Who Are Their Customers?

Partners with research institutions and nonprofits, biotechnology companies, and pharmaceutical companies. It acquires existing royalty rights from innovators and funds developers in exchange for newly created royalties.

Do Revenues Turn Into Profits?

Yes. It kept 32 cents of every revenue dollar as net income in FY2025.

Operating income, FY2025

66% of revenue

▲ +21% vs FY2024 ($1.3B, 57%)

Net income, FY2025

32% of revenue

▼ −10% vs FY2024 ($859M, 38%)

How Are They Changing?

Since the FY2025 annual report

Latest quarter: Q2 FY2026, the three months to Jun 30, 2026

Revenue: ▲ +16%; vs $578.7M in Q2 FY2025
Net income: ▼ −44%; vs $32.2M in Q2 FY2025

Income from financial royalty assets share of revenue vs 95.1% in Q2 FY2025

Aug 5, 2026 Raises full-year Portfolio Receipts guidance Now expects $3,400 million to $3,500 million, up from $3,325 million to $3,450 million.

Flat. Revenue was $2.4B in FY2025, about the same as the $2.3B of FY2021.

Revenue over time

Income from financial royalty assets Other royalty income and revenues Revenue from intangible royalty assets

$2.5B$1.3B$0

FY2021 FY2022 FY2023 FY2024 FY2025

Comments