Q2 26 EPS
$1.79
MISS 6.50%
Est. $1.91
Q2 26 Revenue
$119.2M
MISS 1.50%
Est. $121.0M
Did KRYS Beat Earnings? Q2 2026 Results
Krystal Biotech came up short of Wall Street expectations in the second quarter of 2026, posting adjusted EPS of $1.79 against a consensus estimate of $1.91, a miss of 6.50%, while revenue of $119.22 million trailed the $121.04 million estimate by 1.… Read more Krystal Biotech came up short of Wall Street expectations in the second quarter of 2026, posting adjusted EPS of $1.79 against a consensus estimate of $1.91, a miss of 6.50%, while revenue of $119.22 million trailed the $121.04 million estimate by 1.50%, though the top line still represented 24.1% growth over the prior-year period. The primary commercial engine, VYJUVEK, drove that revenue figure as the gene therapy continued to benefit from durable U.S. Demand, a prescriber base exceeding 640 physicians, and more than 730 reimbursement approvals secured, with cumulative product revenue since launch now approaching $965.90 million. Gross margin held at an exceptional 95%, and net income climbed to $54.77 million from $38.33 million a year earlier, underscoring the business's underlying profitability even as SG&A rose to $39.85 million to fund international expansion into Germany, France, and Japan, with Spain and Italy launches targeted before year end. With multiple pipeline readouts expected in the back half of 2026, including top-line data from the registrational IOLITE study of KB803, management signaled the coming 12 to 18 months could mark a meaningful transition toward a multi-product genetic medicines company.
Key Takeaways
- • Durable U.S. VYJUVEK demand with broad reimbursement access (over 730 approvals) and expanding prescriber base (640+ unique prescribers)
- • 95% gross margin in Q2 2026
- • International momentum across Germany, France, and Japan launch markets
- • Increasing use of VYJUVEK as lifelong wound management therapy following label update and increased administration flexibility
KRYS Forward Guidance & Outlook
The company guided FY 2026 non-GAAP combined R&D and SG&A expense (excluding stock-based compensation) of $175.0 million to $195.0 million. Multiple clinical data readouts are expected in H2 2026, including top-line data from the registrational IOLITE study of KB803 in Q4 2026, interim results from KB407 for cystic fibrosis, interim results from KB111 for Hailey-Hailey disease, and an interim clinical update on intratumoral KB707 in Gorlin syndrome. VYJUVEK commercial launches in Spain and Italy are expected before year end, with additional marketing authorization filings planned in Switzerland and Australia. FDA alignment on the KB407 registrational study design is expected in Q4 2026, with study initiation targeted for 2027. Management believes the next 12 to 18 months could mark an important transition to a multi-product genetic medicines company.
KRYS YoY Financials
Q2 2026 vs Q2 2025, source: SEC Filings
KRYS Revenue by Segment
With YoY comparisons, source: SEC Filings
“Our second quarter reflects the strength of the Krystal model: a global commercial product that continues to perform, a strong balance sheet, and a pipeline now moving toward multiple registrational readouts.”
— Krish S. Krishnan, Q2 2026 Earnings Press Release
KRYS Earnings Trends
KRYS vs Market 30 Day Price Reactions
30-day stock return vs benchmark after each earnings
KRYS EPS Trend
Earnings per share: estimate vs actual
KRYS Revenue Trend
Quarterly revenue: estimate vs actual
KRYS Quarterly Results
5 quarters of earnings data
| Quarter | EPS Est. | EPS Act. | Surprise | Revenue | Rev. Surprise |
|---|---|---|---|---|---|
| Q2 26 MISS | $1.91 | $1.79 | -6.50% | $119.2M | -1.50% |
| Q4 25 BEAT FY | $1.61 | $1.70 | +5.81% | $107.1M | +1.88% |
| FY Full Year | $7.13 | $6.84 | -4.04% | $389.1M | +0.39% |
| Q3 25 BEAT | $1.12 | $2.66 | +137.03% | $97.8M | +4.69% |
| Q2 25 MISS | $1.44 | $1.29 | -10.15% | $96.0M | +4.44% |
| Q1 25 MISS | $1.52 | $1.20 | -21.05% | $88.2M | -8.34% |