Voyager Therapeutics, Inc. (NASDAQ: VYGR) Q2 2025 Earnings | 08/13/2025

7 days ago

49:06

Inside Ticker

Earnings Calls

AI Summary

Key Highlights:

Strong Financial Performance:
- Record Q2 revenue of $46M, up 25% YoY (45% growth excluding a winding-down NASA contract).
- Defense & National Security segment grew 85% YoY, driven by Next Generation Interceptor (NGI) and other missile defense programs.
- Adjusted EBITDA loss of $9.1M (vs. $8M loss in Q2 2024), reflecting strategic investments for scaling.
- $469M in cash, no debt, and a $200M undrawn credit facility.
Growth Drivers:
- NGI Program: Completed Critical Design Review (CDR) for throttle propulsion tech, positioning Voyager for long-term revenue in missile defense.
- Golden Dome & Space-to-Space Interceptors: Emerging opportunities in smart missile defense.
- M&A Strategy: Acquired LeoCloud (optical physics) and another undisclosed company, expanding tech capabilities.
Starlab Space Station (Major Growth Opportunity):
- $218M NASA funding secured, with 25 milestones completed (including 4 in Q2).
- Targeting 2029 launch, with projected $4B annual revenue and $1.5B free cash flow post-deployment.
- Next milestone: Critical Design Review (CDR) expected in December 2025.
Outlook for 2025:
- Revenue guidance: $165M–$170M (15–18% YoY growth; 29–33% excluding NASA contract wind-down).
- Adjusted EBITDA loss: $60M–$63M, with margin improvements expected in H2.
- $3.6B qualified pipeline, with 75% in Defense & National Security.
Future Opportunities:
- Expansion in international defense markets (e.g., Europe via Airbus partnership).
- Signals Intelligence & Edge Computing (collaboration with Palantir & NVIDIA).
- Potential new contracts from NASA’s Commercial LEO Development (CLD) program.

Closing Remarks: Voyager remains confident in its high-growth trajectory, supported by defense contracts, space solutions, and Starlab’s long-term potential. The company emphasized disciplined M&A, innovation, and strong execution as key drivers for shareholder value.

About this video

Voyager Therapeutics, Inc. (NASDAQ: VYGR), a biotechnology company dedicated to leveraging genetics to treat neurological diseases, released its Q2 2025 financial results and operational highlights. The company reported collaboration revenue of $5.2 million for the quarter, a sharp decline from $29.6 million in Q2 2024, primarily due to lower revenue recognized from collaboration agreements with Neurocrine. Research and development expenses decreased slightly to $31.3 million from $34.5 million the previous year, reflecting the absence of non-recurring items, while general and administrative expenses edged up to $10.5 million. Net loss expanded significantly to $33.4 million, compared to $10.1 million in the same period last year, impacted mainly by the collaboration revenue decline. On a per-share basis, the loss widened to $0.57 from $0.18 year-over-year. Operationally, Voyager has extended its cash runway into 2028, enabling the company to focus on critical clinical milestones and further develop its multi-modality neurotherapeutics pipeline, especially targeting Alzheimer’s disease. The company added a new APOE program to its Alzheimer's franchise, now comprising four assets addressing tau, amyloid-beta, and APOE pathways. Several key clinical data readouts and trial initiations are anticipated in 2026, including programs partnering with Neurocrine on FA and GBA1 gene therapies. Voyager maintains a strong cash position of $262 million as of June 30, 2025, supporting strategic investments and operational flexibility. Risks include ongoing operating losses, reliance on collaboration revenues, and the typical uncertainties associated with early-stage biotech clinical development. About Inside Ticker: Inside Ticker delivers timely, in-depth financial news and earnings analysis to empower investors with actionable insights on global companies across sectors. For comprehensive video analysis and real-time updates, visit https://www.insideticker.com/. Hashtags: #VoyagerTherapeutics #VYGR #Q22025 #Earnings #FinancialResults #CollaborationRevenue #NetLoss #RandD #Neurotherapeutics #AlzheimersDisease #APOE #TauTherapy #GeneTherapy #Neurocrine #ClinicalTrials #CashRunway #Biotechnology #Innovation #BiotechInvesting #StockMarket #NASDAQ #ClinicalPipeline #DrugDevelopment #ResearchAndDevelopment #EarningsReport #InvestorRelations #Q2Results #Genetics #Neurology #PipelineExpansion #OperationalUpdate #CashPosition #2028Runway #Milestones #StrategicInvestment #FinancialHealth #LossPerShare #EarningsMiss

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