Elite Pharmaceuticals (ELTP) Q2 2026 earnings summary

Executive summary

• Achieved $36.3M in revenue for Q2 FY2026, a 92% increase year-over-year, driven by new product launches and higher sales of existing products, including lisdexamfetamine and Elite label products.

• Net income for the quarter was $13.7M, compared to a net loss of $11.0M in the same quarter last year.

• Growth supported by the launch of generic Percocet, FDA approval for generic Requip XL, and strong market share in amphetamine IR and AR.

Financial highlights

• Gross profit for Q2 FY2026 was $14.1M, up 72% year-over-year, with a gross margin of 39% for the quarter and 54% for the six months.

• Operating profit for Q2 was $8.2M, a 136% increase; six-month operating profit was $29.9M, up 307%.

• Net cash provided by operating activities was $19.9M for the six months ended September 30, 2025.

• Working capital rose to $75M as of September 30, 2025, with current assets increasing and liabilities decreasing.

• Operating expenses rose 24% to $5.9M, mainly from higher general and administrative costs.

Outlook and guidance

• Expect continued revenue growth from recently launched and approved products, including lisdexamfetamine and Ropinirole ER.

• Anticipate solid performance in the coming quarter, with stabilization in lisdexamfetamine pricing.

• M&A remains a primary focus, with ongoing discussions and site visits from interested parties.