Alkermes 3Q 2026: Revenue $480.1M, Net income $16.3M, EPS $0.09— 10-Q Summary

What happened

Alkermes reported third-quarter 2026 revenue of $480.1 million, up 21.8% from $394.2 million a year earlier, mainly on LUMRYZ sales. Net income fell to $16.3 million from $82.8 million, and diluted EPS was $0.09 versus $0.49.

Confirmed

Global impact / market context

Revenue grew but profit shrank sharply, so more sales did not translate into more earnings. The Avadel acquisition added LUMRYZ and its sales force, which likely raised costs. Investors must weigh faster top-line growth against weaker profit per sale and whether spending is temporary.

Analyst inference

Alkermes is shifting toward narcolepsy treatment LUMRYZ, now also approved for U.S. pediatric use, while older drugs show mixed unit trends and LYBALVI net sales declined. Pipeline progress in Phase 3 studies offers future revenue prospects, but near-term results depend on integrating the acquisition and managing costs.

Analyst inference

What to watch

1. Watch LUMRYZ product sales, which reached $89.9 million in the quarter and $226.0 million year to date, to see if growth offsets weaker net sales for LYBALVI. Confirmed
2. Watch whether Alkermes explains the cost drivers behind the 80.3% net income decline, including Avadel integration expenses, and whether management proposes steps to rebuild profit per sale. Proposed
3. Watch Alixorexton Phase 3 narcolepsy results and LUMRYZ idiopathic hypersomnia data, because positive outcomes could support future revenue and justify current spending. Analyst inference

Evidence

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