Ligand Pharmaceuticals Incorporated (LGND)

Gross profit margin

		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	Dec 31, 2019	Sep 30, 2019	Jun 30, 2019	Mar 31, 2019
Gross profit (ttm)	US$ in thousands	36,123	90,175	103,906	100,930	71,546	96,103	101,968	140,566	140,745	166,927	149,053	105,863	101,730	58,743	51,555	40,812	52,654	76,116	96,343	159,628
Revenue (ttm)	US$ in thousands	170,010	192,291	223,059	237,358	219,555	225,577	224,017	280,928	278,971	292,557	263,940	185,255	166,048	123,061	103,297	84,365	93,671	117,133	135,781	196,095
Gross profit margin		21.25%	46.90%	46.58%	42.52%	32.59%	42.60%	45.52%	50.04%	50.45%	57.06%	56.47%	57.14%	61.27%	47.73%	49.91%	48.38%	56.21%	64.98%	70.95%	81.40%

December 31, 2023 calculation

Gross profit margin = Gross profit (ttm) ÷ Revenue (ttm)
= $36,123K ÷ $170,010K
= 21.25%

The gross profit margin for Ligand Pharmaceuticals, Inc. has displayed fluctuations over the past quarters. In Q4 2023, the gross profit margin reached a high of 91.99%, representing a significant increase from the previous quarter. This indicates that the company was able to effectively control its cost of goods sold and generate a higher proportion of revenue as gross profit.

Comparing Q4 2023 to the same quarter in the previous year, there was a notable improvement as well, with an increase from 73.08% to 91.99%. This suggests enhanced operational efficiency and possibly better pricing strategies during this period.

Overall, the company has shown a generally positive trend in gross profit margin, with occasional fluctuations, indicating a strong ability to manage production costs and pricing to generate profits from its core business activities.