Alkermes (ALKS) Q1 2026 Earnings
How Did ALKS Stock React to Q1 2026 Earnings?
S&P 500 over the same 30 days: +1.90%.
Did ALKS Beat Earnings? Q1 2026 Results
No. Alkermes reported Q1 2026 earnings of $-0.40 a share on May 5, 2026, missing the $-0.04 consensus estimate by 900.0%. Revenue was $392.9M against a $361.4M estimate.
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.
- LYBALVI revenue grew 32% and total prescriptions grew 21% year-over-year
- ARISTADA revenue grew 27.6% year-over-year
- VIVITROL revenue grew 11.3% year-over-year
- Gross-to-net favorability driven by favorable patient mix across VIVITROL (~$9M), ARISTADA (~$3.5M), and LYBALVI (~$2M)
- Six weeks of LUMRYZ revenue contribution following Avadel acquisition closure
“We delivered a strong quarter marked by solid financial and commercial execution, alongside meaningful strategic progress that positions Alkermes as an emerging leader in sleep medicine.”
Alkermes CEO, on the earnings call
What Was Alkermes's Outlook in Q1 2026?
Alkermes maintained its full-year 2026 total revenue guidance of $1,730M–$1,840M and Adjusted EBITDA of $370M–$410M. Product-level guidance: VIVITROL net sales of $460M–$480M, LYBALVI net sales of $380M–$400M, ARISTADA net sales of $365M–$385M, and LUMRYZ net sales of $315M–$335M (representing the period Feb. 12–Dec. 31, 2026). Updated guidance improved GAAP net loss expectations to ($70M)–($90M) from ($115M)–($135M) and EBITDA to $105M–$135M from $60M–$90M, driven by favorable non-cash purchase price accounting adjustments related to the Avadel acquisition. Cost of goods sold was reduced to $320M–$340M and amortization of intangible assets to $75M–$85M. R&D expenses remain at $445M–$485M and SG&A at $890M–$930M.
ALKS YoY Financials
| Metric | Q1 2026 | Q1 2025 | Year over year |
|---|---|---|---|
| Revenue | $392.9M | $306.5M | +28.2% |
ALKS Revenue by Segment
Figures from SEC filings and company reports. Not investment advice.