Alkermes (ALKS) Q1 2026

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Earnings

Alkermes delivered a split quarter in Q1 2026, posting revenue that cleared estimates by a wide margin while its bottom line fell well short of expectations, a divergence rooted almost entirely in the costs of its transformative acquisition of Avadel… Read more Alkermes delivered a split quarter in Q1 2026, posting revenue that cleared estimates by a wide margin while its bottom line fell well short of expectations, a divergence rooted almost entirely in the costs of its transformative acquisition of Avadel Pharmaceuticals. Total revenues rose 28.2% year over year to $392.91 million, beating the $361.38 million consensus, as legacy products VIVITROL ($112.40 million), LYBALVI ($92.40 million), and ARISTADA ($93.80 million) all grew meaningfully, and newly acquired LUMRYZ contributed $39.50 million in net sales for the roughly six weeks following the February 12 close. The acquisition's weight on earnings was severe, however; $55.83 million in transaction costs and $20.19 million in accelerated share-based compensation for former Avadel employees drove a GAAP loss of $0.40 per share, missing the $-0.04 consensus by 900.00%. Positive topline results from the REVITALYZ Phase 3 study evaluating LUMRYZ added further pipeline credibility to the deal's strategic rationale. Looking ahead, Alkermes maintained its full-year 2026 revenue guidance of $1.73 billion to $1.84 billion and improved its GAAP net loss outlook to $70 million to $90 million, citing favorable purchase price accounting adjustments.