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MannKind (MNKD) investor relations material
MannKind Q3 2026 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Executive summary
Q3 revenue rose 24% YoY to $101.9M; commercial product revenue increased to $45.0M, with Furoscix adoption and Afrezza pediatric demand supporting growth.
Nine-month revenue increased 27% to $301.4M; the five-year revenue CAGR was 42%.
Growth spans commercial products, United Therapeutics royalties and manufacturing, and DPI pipeline programs targeting lung diseases.
Financial highlights
Q3 GAAP net loss was $23.224M versus net income of $7.985M a year earlier; adjusted net loss was $3.615M versus adjusted net income of $22.447M.
Nine-month GAAP net loss was $58.874M versus net income of $21.811M; adjusted net loss was $10.408M versus adjusted net income of $57.977M.
Q3 commercial product sales were $45.0M versus $22.3M; royalties were $37.5M, up 12%, and collaborations and services were $19.4M, down 27%.
Nine-month commercial product revenue rose 90% to $120.9M; royalties rose 8% to $102.6M, and collaboration revenue was $180.5M.
Outlook and guidance
Q4 GAAP and non-GAAP profitability is expected, with record revenue; annual profitability is expected in 2027, though not necessarily in Q1.
Furoscix Q4 revenue is expected to exceed H1 2026 revenue; ReadyFlow adoption is expected to inform future dosage-form mix and margins.
Estimated cumulative collaboration revenue for 2027–2030 exceeds $1B, based on current assumptions and not intended as financial guidance.
A $15M ralinepag DPI milestone is anticipated in 2027; nintedanib DPI Phase 2 data are expected in H1 2028.
- IPF pipeline advances as ReadyFlow and TYVASO DPI support growth and diversification.MNKD
Chardan's 10th Annual Healthcare Conference - Afrezza pediatric launch, FUROSCIX ReadyFlow, and IPF 201 progress drive growth focus.MNKD
H.C. Wainwright 28th Annual Global Investment Conference - Q2 2026 revenue up 43% to $109.4M, driven by Afrezza pediatric and FUROSCIX launches.MNKD
Q2 2026 - Nintedanib DPI showed strong safety and efficient lung delivery in IPF, supporting Phase 2 trials.MNKD
Study result - FDA approved FUROSCIX ReadyFlow, enabling rapid at-home IV-equivalent diuretic therapy.MNKD
FDA announcement - Diversified growth, new launches, and pipeline advances set the stage for accelerated revenue and margin expansion.MNKD
Leerink Global Healthcare Conference 2026 - Pediatric Afrezza approval and FUROSCIX auto-injector drive growth amid strong pipeline progress.MNKD
Jefferies Global Healthcare Conference 2026 - Q4 and FY 2025 revenues surged, driven by FUROSCIX and Afrezza, with major 2026 catalysts ahead.MNKD
Q4 2025 - Q1 revenue up 18% to $78.4M, net income up 24%, driven by Tyvaso DPI and Afrezza growth.MNKD
Q1 2025
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