Amarin Corporation (AMRN) Q1 2026 earnings summary

Executive summary

• Q1 2026 net revenue rose 7% year-over-year to $45.1 million, while net loss narrowed to $10.5 million.

• Positive cash flow was generated for the second consecutive quarter; full-year 2026 positive cash flow is expected.

• Global restructuring was substantially completed, with $70 million in annualized operating expense savings targeted by end of Q2 2026.

• The refined model pairs a cash-generating U.S. business with international growth through partners including Recordati.

• U.S. branded Vascepa prescriptions rose 17% year-over-year, maintaining market leadership despite generic competition.

Financial highlights

• Net revenue was $45.1 million, up 7%; product revenue was $43.3 million and licensing and royalty revenue was $1.8 million, up 84%.

• Gross profit was $17.8 million versus $25.1 million; product gross margin declined to 37% from 59%, reflecting customer mix.

• Operating expenses fell 31% to $29.1 million; excluding restructuring, they declined 38% to $25.8 million.

• Operating loss narrowed to $11.3 million from $16.8 million; net loss narrowed to $10.5 million from $15.7 million.

• Cost of goods sold increased $10.5 million, or 62%, due to higher product volumes and new partnerships.

Outlook and guidance

• Targeting $70 million in operating expense savings by end of Q2 2026; full-year 2026 positive cash flow is expected.

• Exclusive U.S. payer contracts are expected to continue through 2026, supporting stable pricing and volume; positive cash flow beyond 2026 depends on retaining exclusivity.

• 2026 priorities include expanding partnered markets, maintaining U.S. IPE leadership, completing restructuring benefits, and prudent investment in awareness.

• Malaysia filing is on track for Q2 2026; early launches in South Korea and Singapore are being prepared for 2027.