Alkermes (ALKS) Q2 2026 earnings summary

Executive summary

• Q2 2026 revenues reached $496 million, up from $390.7 million year-over-year, reflecting the acquisition and integration of Avadel and LUMRYZ, and strong proprietary product sales.

• GAAP net income for Q2 2026 was $0.5 million, with adjusted EBITDA at $139.2 million; net income was impacted by higher expenses and interest from the Avadel acquisition.

• Leadership transition announced: Blair Jackson to become CEO on August 1, 2026, with Richard Pops remaining as Chairman.

• Commercial execution was strong, with robust growth in proprietary products and successful LUMRYZ integration.

• Alkermes advanced its orexin biology pipeline, with positive clinical data and expanded programs in narcolepsy, IH, ADHD, and fatigue.

Financial highlights

• Q2 2026 total revenues were $496 million, with proprietary net sales of $411.7 million and LUMRYZ contributing $96.6 million.

• VIVITROL net sales were $124.5 million, ARISTADA $96.7 million, and LYBALVI $94 million, all showing year-over-year growth.

• Adjusted EBITDA for Q2 was $139.2 million; GAAP net income was $0.5 million.

• Cash and investments at June 30, 2026, were $691.6 million.

• Gross margin for Q2 2026 was approximately 80%.

Outlook and guidance

• 2026 total revenue guidance is $1.73–$1.84 billion; adjusted EBITDA guidance is $370–$410 million.

• Full-year net sales guidance: VIVITROL $460–$480 million, ARISTADA $365–$385 million, LYBALVI $380–$400 million, LUMRYZ $315–$335 million.

• Net loss for 2026 expected between $95–$115 million.

• Management expects existing cash and investments to cover working capital, debt service, and capital expenditures for at least the next 12 months.

• Q3 2026 total revenues expected in the range of $450–$470 million; adjusted EBITDA guidance for Q3 is $80–$100 million.