Financial highlights

FY 2025

$ in millions % Portfolio Receipts
Royalty receipts
3,127 +13% YoY
Milestones & other
contractual receipts
128 nm
Portfolio Receipts
3,254 +16% YoY
Payments for operating
and professional costs
-288
8.9%
Adjusted EBITDA
(non-GAAP)
2,966
91.1%
Interest paid, net
-242
Portfolio Cash Flow
(non-GAAP)
2,742
83.7%
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