BioNTech revenues beat forecasts despite declining

Shares of German biotech BioNTech (Nasdaq: BNTX) dipped 2.5% to $105.86 today, after it reported financial results for the three months and full year ended December 31, 2024, and provided an update on its corporate progress.

Total revenues were 1,190 million euros ($1294 million) for the three months, ahead of estimates for 1.14 billion euros but down nearly 43% from the prior year's quarter. For the full year, revenues were 2,751.1 million euros, compared to 3,819 million euros for the comparative prior year period. The decrease in revenues was primarily driven by lower sales of the company’s COVID-19 vaccines due to reduced market demand. In addition, write-downs by BioNTech’s collaboration partner Pfizer (NYSE: PFE) significantly reduced the company’s gross profit share which negatively influenced its revenues.

Net profit was 259.5 million euros for the three months compared to 457.9 million euros a year earlier. For the year ended December 31, 2024, net loss was 665.3 million euros, compared to a net profit of 930.3 million euros for the comparative prior year period.