Q1 26 EPS
$-1.67
MISS 2.31%
Est. $-1.63
Q1 26 Revenue
$19.4M
BEAT +113.25%
Est. $9.1M
vs S&P Since Q1 26
+27.6%
BEATING MARKET
CYTK +29.2% vs S&P +1.6%
Market Reaction
Did CYTK Beat Earnings? Q1 2026 Results
Cytokinetics delivered a sharply mixed first quarter for fiscal 2026, with a dramatic revenue beat offset by a slight earnings miss as the company's newly launched heart drug MYQORZO began generating commercial traction. Revenue surged to $19.36 mill… Read more Cytokinetics delivered a sharply mixed first quarter for fiscal 2026, with a dramatic revenue beat offset by a slight earnings miss as the company's newly launched heart drug MYQORZO began generating commercial traction. Revenue surged to $19.36 million, a 1,125.8% increase from $1.58 million a year ago, well ahead of the $9.08 million consensus estimate, driven by $4.79 million in early MYQORZO product sales across roughly nine weeks on the market, a $11.93 million license milestone triggered by that first U.S. Sale under the Bayer agreement, and $2.64 million in collaboration revenues. However, the company posted a loss per share of $1.67, just shy of the $1.63 consensus estimate, as SG&A expenses nearly doubled to $104.90 million from $57.37 million to support the commercial launch. Looking ahead, the company maintained its full-year combined R&D and SG&A expense guidance of $830 million to $870 million, while analysts have meaningfully lifted their 2026 revenue forecasts following positive Phase 3 data in non-obstructive HCM and a $700 million equity raise that extended the company's financial runway.
Key Takeaways
- • Strong initial U.S. launch of MYQORZO with over 275 prescribing HCPs and approximately 680 patients in first partial quarter
- • $11.9 million milestone payment from Bayer tied to first U.S. sale of MYQORZO
- • Over 70% of patients on paid prescriptions indicating favorable payer coverage
- • Over 1,400 HCPs REMS certified as of March 31, 2026
CYTK Forward Guidance & Outlook
Cytokinetics maintained its full-year 2026 financial guidance for GAAP combined R&D and SG&A expenses of $830 million to $870 million, including $120 million to $130 million in non-cash stock-based compensation. This guidance excludes collaboration expenses, potential costs related to commercialization of aficamten in non-obstructive HCM, and GAAP adjustments from subsequent events including business development activities. The company expects to launch MYQORZO in Germany in Q2 2026, complete adolescent cohort enrollment in CEDAR-HCM in Q4 2026, and has a PDUFA date of November 14, 2026 for the MAPLE-HCM supplemental NDA. Patient enrollment in COMET-HF (omecamtiv mecarbil) is expected to continue through 2026, and AMBER-HFpEF Cohort 1 enrollment (ulacamten) is expected to complete in H2 2026.
CYTK YoY Financials
Q1 2026 vs Q1 2025, source: SEC Filings
CYTK Revenue by Segment
With YoY comparisons, source: SEC Filings
“The U.S. launch of MYQORZO commenced strongly in late January and continues to accelerate. We promptly activated a solid prescriber base of early adopters and are encouraged by initial commercial metrics that are exceeding our expectations.”
— Robert I. Blum, Q1 2026 Earnings Press Release
CYTK Earnings Trends
CYTK vs Market 30 Day Price Reactions
30-day stock return vs benchmark after each earnings
CYTK EPS Trend
Earnings per share: estimate vs actual
CYTK Revenue Trend
Quarterly revenue: estimate vs actual
CYTK Quarterly Results
5 quarters of earnings data
| Quarter | EPS Est. | EPS Act. | Surprise | Revenue | Rev. Surprise |
|---|---|---|---|---|---|
| Q1 26 MISS | $-1.63 | $-1.67 | -2.31% | $19.4M | +113.25% |
| Q4 25 MISS FY | $-1.37 | $-1.50 | -9.67% | $17.8M | +121.30% |
| FY Full Year | — | $-6.54 | — | $88.0M | — |
| Q3 25 MISS | $-1.63 | $-2.55 | -56.33% | $1.9M | -69.88% |
| Q2 25 BEAT | $-1.34 | $-1.12 | +16.12% | $66.8M | +3,131.07% |
| Q1 25 BEAT | $-1.36 | $-1.36 | +0.23% | $1.6M | -39.51% |