Company: ARVN
Filing Date: 2025-08-06
Form Type: 10-Q
Source: 0001655759-25-000139
Chunk: 128

Company: ARVINAS, INC.
Filing Date: 2025-08-06
Form: 10-Q
Item: Part I, Item 1
Chunk 128
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 on an ongoing basis. Our actual results may differ from these estimates under different assumptions or conditions. 

There have been no material changes to our critical accounting estimates from those described in “Management’s Discussion and Analysis of Financial Condition and Results of Operations” in our Annual Report on Form 10-K for the year ended December 31, 2024, filed with the Securities and Exchange Commission on February 11, 2025.

34

Results of Operations

Comparison of the Three and Six Months Ended June 30, 2025 and 2024

For the Three Months EndedJune 30,For the Six Months EndedJune 30,(dollars in millions)20252024$ change20252024$ changeRevenue$22.4 $76.5 $(54.1)$211.2 $101.8 $109.4 Research and development expenses(68.6)(93.7)25.1 (159.4)(178.0)18.6 General and administrative expenses(25.3)(31.3)6.0 (51.9)(55.6)3.7 Other income10.0 13.5 (3.5)21.6 27.5 (5.9)Income tax benefit (expense)0.3 (0.2)0.5 0.2 (0.3)0.5 Net (loss) income$(61.2)$(35.2)$(26.0)$21.7 $(104.6)$126.3 

Reconciliation of GAAP and Non-GAAP InformationFor the Three Months EndedJune 30,For the Six Months EndedJune 30,(dollars and shares in millions, except per share amounts)2025202420252024Research and development reconciliationGAAP research and development expenses$68.6 $93.7 $159.4 $178.0 Less: restructuring expense0.6 — 0.6 — Less: stock-based compensation expense (*)8.5 10.7 20.0 23.0 Non-GAAP research and development expenses$59.5 $83.0 $138.8 $155.0 General and administrative reconciliationGAAP general and administrative expenses$25.3 $31.3 $51.9 $55.6 Less: restructuring expense0.4 — 0