Corcept (NASDAQ:CORT) Misses Q4 CY2025 Sales Expectations

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2026-03-16 07:35:50

Corcept (NASDAQ:CORT) Misses Q4 CY2025 Sales Expectations

Petr Huřťák

Wed, February 25, 2026 at 6:49 AM GMT+9 4 min read

In this article:

CORT

+3.23%

Biopharma company Corcept Therapeutics (NASDAQ:CORT) fell short of the market’s revenue expectations in Q4 CY2025, but sales rose 11.1% year on year to $202.1 million. Its GAAP profit of $0.20 per share was 26.3% below analysts’ consensus estimates.

Is now the time to buy Corcept? Find out in our full research report.

Corcept (CORT) Q4 CY2025 Highlights:

**Revenue:** $202.1 million vs analyst estimates of $247.9 million (11.1% year-on-year growth, 18.5% miss)

**EPS (GAAP):** $0.20 vs analyst expectations of $0.27 (26.3% miss)

**Operating Margin:** 2.2%, down from 13.9% in the same quarter last year

**Market Capitalization:** $3.72 billion

Company Overview

Focusing on the powerful stress hormone that affects everything from metabolism to immune function, Corcept Therapeutics (NASDAQ:CORT) develops and markets medications that modulate cortisol to treat endocrine disorders, cancer, and neurological diseases.

Revenue Growth

Reviewing a company’s long-term sales performance reveals insights into its quality. Any business can put up a good quarter or two, but the best consistently grow over the long haul. Over the last five years, Corcept grew its sales at an impressive 18.8% compounded annual growth rate. Its growth beat the average healthcare company and shows its offerings resonate with customers.

Corcept Quarterly Revenue

We at StockStory place the most emphasis on long-term growth, but within healthcare, a half-decade historical view may miss recent innovations or disruptive industry trends. Corcept’s annualized revenue growth of 25.6% over the last two years is above its five-year trend, suggesting its demand was strong and recently accelerated.

Corcept Year-On-Year Revenue Growth

This quarter, Corcept’s revenue grew by 11.1% year on year to $202.1 million but fell short of Wall Street’s estimates.

Looking ahead, sell-side analysts expect revenue to grow 9.5% over the next 12 months, a deceleration versus the last two years. Still, this projection is commendable and indicates the market is baking in success for its products and services.

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Operating Margin

Corcept has managed its cost base well over the last five years. It demonstrated solid profitability for a healthcare business, producing an average operating margin of 19.6%.

Analyzing the trend in its profitability, Corcept’s operating margin decreased by 28.1 percentage points over the last five years. The company’s two-year trajectory also shows it failed to get its profitability back to the peak as its margin fell by 16.4 percentage points. This performance was poor no matter how you look at it - it shows its expenses were rising and it couldn’t pass those costs onto its customers.

Story Continues

Corcept Trailing 12-Month Operating Margin (GAAP)

This quarter, Corcept generated an operating margin profit margin of 2.2%, down 11.7 percentage points year on year. This contraction shows it was less efficient because its expenses grew faster than its revenue.

Earnings Per Share

We track the long-term change in earnings per share (EPS) for the same reason as long-term revenue growth. Compared to revenue, however, EPS highlights whether a company’s growth is profitable.

Corcept’s flat EPS over the last five years was below its 18.8% annualized revenue growth. This tells us the company became less profitable on a per-share basis as it expanded due to non-fundamental factors such as interest expenses and taxes.

Corcept Trailing 12-Month EPS (GAAP)

Diving into the nuances of Corcept’s earnings can give us a better understanding of its performance. As we mentioned earlier, Corcept’s operating margin declined by 28.1 percentage points over the last five years. This was the most relevant factor (aside from the revenue impact) behind its lower earnings; interest expenses and taxes can also affect EPS but don’t tell us as much about a company’s fundamentals.

In Q4, Corcept reported EPS of $0.20, down from $0.26 in the same quarter last year. This print missed analysts’ estimates. Over the next 12 months, Wall Street expects Corcept’s full-year EPS of $0.83 to shrink by 30.3%.

Key Takeaways from Corcept’s Q4 Results

We struggled to find many positives in these results. Its revenue missed and its EPS fell short of Wall Street’s estimates. Overall, this quarter could have been better. The stock traded down 3.8% to $35.07 immediately following the results.

Corcept underperformed this quarter, but does that create an opportunity to invest right now? If you’re making that decision, you should consider the bigger picture of valuation, business qualities, as well as the latest earnings. We cover that in our actionable full research report which you can read here, it’s free.

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