Ascendis Pharma (ASND) Q2 2026 earnings summary

Executive summary

• Achieved key milestones and strong demand for TransCon products, driving transformation into a leading global biopharma.

• Q2 2026 product revenue reached €315 million, up 105% year-over-year, driven by strong demand for YORVIPATH, SKYTROFA, and YUVIWEL.

• Net profit for Q2 2026 was €207 million, or €2.83 per diluted share, compared to a net loss of €39 million in Q2 2025.

• Significant pipeline progress included long-term data presentations, completion of pivotal trial enrollment, and regulatory milestones.

• Settled all convertible notes and was added to multiple Russell U.S. Indexes.

Financial highlights

• Total Q2 2026 revenue was €339 million, including €24 million in non-product collaboration revenue and a €17 million milestone for TransCon CNP.

• Operating profit for Q2 2026 was €220 million (65% margin); non-IFRS operating profit was €92 million (27% margin).

• Cash and cash equivalents as of June 30, 2026, were €812 million, up from €616 million at year-end 2025.

• Sale of Rare Pediatric Disease Priority Review Voucher contributed €158 million to other operating income in Q2.

• Cash flows from operating activities for the first half of 2026 were €274 million, compared to €22 million used in the same period of 2025.

Outlook and guidance

• Vision 2030 objective on track, aiming for €5 billion in revenues by 2030 and long-term revenue growth beyond €10 billion.

• Anticipates EMA decision on YUVIWEL in Q4 2026.

• Plans to initiate Phase 3 trials for TransCon CNP monotherapy in hypochondroplasia and combination therapy in pediatric achondroplasia in H2 and Q4 2026, respectively.

• Projecting more than €500 million in operating cash flow for 2026.

• Confident in achieving €5 billion in revenues by 2030, with significant operating leverage as revenue scales.