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IMAX revenue and EBIT since its IPO
MannKind
MannKind (MNKD) investor relations material
MannKind Q2 2026 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Q2 2026 earnings summary5 Aug, 2026
Executive summary
Achieved three major 2026 catalysts: Afrezza pediatric approval and launch, FUROSCIX ReadyFlow FDA approval, and positive Phase 1b nintedanib DPI results in IPF patients, with commercial product revenues now outpacing royalties as the primary growth driver.
Q2 2026 total revenues reached $109.4M, up 43% year-over-year, driven by strong Afrezza pediatric launch and FUROSCIX performance, with commercial product revenues growing 27% sequentially.
Diversification strategy succeeded as marketed products overtook royalties as the top revenue source for the first time.
The company completed the acquisition of scPharma in October 2025, adding FUROSCIX and ReadyFlow to its portfolio.
Financial highlights
Q2 2026 revenue reached $109.4M, up 43% year-over-year; first half revenue $199.5M, up 29%.
FUROSCIX net sales were $22.2M, up 43% sequentially; Afrezza net sales $17.0M; royalties from United Therapeutics $32.4M (+4% YoY); collaborations/services revenue $35M (+53%).
Commercial product sales rose 87% YoY to $42.0M in Q2, mainly from FUROSCIX.
GAAP net loss of $19M vs. net income of $0.7M prior year; non-GAAP net loss of $2.7M vs. net income of $13.9M.
Gross margin on commercial products fell to 66% in Q2 2026 from 79% in Q2 2025, reflecting the lower margin profile of FUROSCIX.
Outlook and guidance
FUROSCIX 2026 revenue guidance of $110M–$120M, with expected back-half weighting due to payer dynamics and product launch timing.
ReadyFlow launch and pediatric Afrezza expected to accelerate growth and margin improvement into 2027.
Continued investment in launches and pipeline, with focus on execution and cost discipline; IND filing for ralinepag DPI on track for year-end 2026.
Management expects continued revenue growth from FUROSCIX and Tyvaso DPI, with additional upside from new product launches and expanded indications.
The company believes current liquidity and revenue streams will support operations for at least the next 12 months.
Afrezza revenue decline despite pediatric launch
Gross margin compression from Furoscix mix
MNKD-201 Phase 1b results and Phase 2 status
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Latest events from MannKind
- 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.MNKDFDA announcement
- Diversified growth, new launches, and pipeline advances set the stage for accelerated revenue and margin expansion.MNKDLeerink Global Healthcare Conference 2026
- Pediatric Afrezza approval and FUROSCIX auto-injector drive growth amid strong pipeline progress.MNKDJefferies Global Healthcare Conference 2026
- FDA approved Afrezza for children 6+, enabling the first inhaled mealtime insulin for pediatrics.MNKDFDA announcement
- Directors elected, compensation and auditor ratified, with strong growth and pipeline updates shared.MNKDAGM 2026
- Q1 2026 revenue up 15% to $90.2M, but higher expenses led to a $16.6M net loss.MNKDQ1 2026
- Q4 and FY 2025 revenues surged, driven by FUROSCIX and Afrezza, with major 2026 catalysts ahead.MNKDQ4 2025
- Q1 revenue up 18% to $78.4M, net income up 24%, driven by Tyvaso DPI and Afrezza growth.MNKDQ1 2025
Next MannKind earnings date
Q3 20264 Nov, 2026
MannKind
Next MannKind earnings date
Q3 20264 Nov, 2026
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