Ligand Pharmaceuticals Incorporated (LGND)

Gross profit margin

		Dec 31, 2024	Sep 30, 2024	Jun 30, 2024	Mar 31, 2024	Dec 31, 2023	Sep 30, 2023	Jun 30, 2023	Mar 31, 2023	Dec 31, 2022	Sep 30, 2022	Jun 30, 2022	Mar 31, 2022	Dec 31, 2021	Sep 30, 2021	Jun 30, 2021	Mar 31, 2021	Dec 31, 2020	Sep 30, 2020	Jun 30, 2020	Mar 31, 2020
Gross profit (ttm)	US$ in thousands	129,570	116,032	106,098	100,427	120,779	123,110	145,662	166,023	166,755	198,476	199,930	208,954	214,957	212,719	194,825	174,519	156,000	122,815	108,981	97,787
Revenue (ttm)	US$ in thousands	167,133	152,422	133,478	118,313	131,314	153,595	186,815	217,868	219,582	241,673	240,420	267,676	277,133	274,650	251,663	208,408	186,419	143,432	126,392	109,959
Gross profit margin		77.53%	76.13%	79.49%	84.88%	91.98%	80.15%	77.97%	76.20%	75.94%	82.13%	83.16%	78.06%	77.56%	77.45%	77.42%	83.74%	83.68%	85.63%	86.22%	88.93%

December 31, 2024 calculation

Gross profit margin = Gross profit (ttm) ÷ Revenue (ttm)
= $129,570K ÷ $167,133K
= 77.53%

The gross profit margin of Ligand Pharmaceuticals Incorporated has displayed fluctuations over the reported periods. Starting at a high of 88.93% as of March 31, 2020, the margin decreased gradually to 77.42% by June 30, 2021, before demonstrating an upward trend to reach 91.98% by December 31, 2023. However, there were subsequent declines in the gross profit margin, with a notable decrease to 75.94% as of December 31, 2022. Overall, the company's gross profit margin has shown variability, indicating changes in the profitability of its core operations. Further analysis and examination of the underlying factors contributing to these fluctuations would be necessary to gain a more comprehensive understanding of the performance of Ligand Pharmaceuticals Incorporated.