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Edge16 Oct 2026
Winner, Winner: The Chicken McNugget Story
How a 1940s breeding contest, a Cornell food scientist, and a hedge by Ray Dalio helped McDonald's turn the Chicken McNugget into a fast-food icon.
Alkermes
Alkermes (ALKS) investor relations material
Alkermes Q3 2026 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Q3 2026 earnings summary3 Nov, 2026
Executive summary
Q3 proprietary-product sales rose 31% YoY to $417.3M; total revenue was $480.1M, while GAAP net income fell to $16.3M from $82.8M, reflecting acquisition-related costs and higher debt interest.
Adjusted EBITDA was $120.1M, compared with $121.5M a year earlier; 2026 financial expectations were reiterated.
Orexin programs advanced across hypersomnolence and neuropsychiatric conditions, with multiple clinical data readouts expected over the coming year.
Financial highlights
Q3 revenue was $480.1M vs. $394.2M; proprietary net sales were $417.3M vs. $317.4M, and manufacturing and royalty revenue was $62.9M vs. $76.8M.
Q3 GAAP net income was $16.3M vs. $82.8M, diluted EPS was $0.09 vs. $0.49, and operating income was $36.0M vs. $89.1M.
Q3 EBITDA was $63.0M vs. $96.9M; Adjusted EBITDA was $120.1M vs. $121.5M.
COGS was $94.2M vs. $51.6M; R&D was $121.1M vs. $81.7M, reflecting orexin investment; SG&A was $208.5M vs. $171.8M, primarily due to Avadel commercial infrastructure.
9M revenue was $1.369B vs. $1.091B; GAAP net loss was $49.7M vs. net income of $192.3M, while Adjusted EBITDA was $339.5M vs. $293.7M.
Outlook and guidance
FY 2026 revenue guidance was reiterated at $1.73B–$1.84B; GAAP net loss guidance is $95M–$115M and Adjusted EBITDA guidance is $370M–$410M.
FY 2026 sales guidance: VIVITROL $460M–$480M; ARISTADA $365M–$385M; LYBALVI $380M–$400M; LUMRYZ $315M–$335M from Feb. 12 through year-end.
FY 2026 expense expectations: COGS $320M–$340M; R&D $445M–$485M; SG&A $890M–$930M; intangible amortization $75M–$85M; net interest expense $75M–$85M.
Q4 proprietary-product net sales are expected at $400M–$420M; LYBALVI FY 2027 gross-to-net deductions are expected near 45%.
In 2027, COGS is expected to normalize lower as most LUMRYZ inventory step-up is recognized in 2026; SG&A excluding early-2026 transaction costs is expected broadly similar, with R&D reflecting broader clinical activity.
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Latest events from Alkermes
- Q2 2026 revenue up 27% to $496M, with LUMRYZ growth offset by higher costs and debt.ALKS
Q2 2026 - Orexin pipeline drives growth, with strong commercial execution and expanding clinical opportunities.ALKSJefferies London Healthcare Conference 2024
- Phase II results for alixorexton in NT1 showed strong efficacy and safety, with Phase III plans underway.ALKSAGM 2025
- Orexin agonist pipeline shows strong efficacy and safety, positioning for broad market impact.ALKSGoldman Sachs 46th Annual Global Healthcare Conference
- Alixorexton improved wakefulness, sleepiness, fatigue, and cognition in NT2 with good tolerability.ALKSSleep 2026 conference presentation
- 2025 saw strong revenue and profitability; 2026 guidance reflects Avadel integration and growth.ALKSQ4 2025
- Alixorexton showed significant efficacy and safety in NT2, supporting phase III advancement.ALKSStudy Update
- ALKS-2680 improves wakefulness and sleep latency with strong safety and CNS expansion plans.ALKSStatus Update
- Proprietary product sales rose 16% year-over-year, driving robust Q2 profitability despite lower royalties.ALKSQ2 2024
Next Alkermes earnings date
2026 Stifel Healthcare Conference10 Nov, 2026
Alkermes
Next Alkermes earnings date
2026 Stifel Healthcare Conference10 Nov, 2026
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Frequently asked questions
Alkermes plc is a biopharmaceutical company engaged in the development, manufacturing, and commercialization of innovative medicines. The company focuses on therapies for central nervous system disorders, including schizophrenia, bipolar disorder, and addiction, as well as treatments for other chronic diseases. Alkermes serves the healthcare sector by advancing solutions that address unmet medical needs. The company is headquartered in Dublin, Ireland, and its shares are listed on the NASDAQ.