Elite Pharmaceuticals (ELTP) Q2 2027 earnings summary

Executive summary

• Q2 FY2027 revenue was $40.1M, up 10.4% YoY; net income was $17.3M. H1 revenue fell 5% to $72.4M, while net income rose to $23.2M from $7.8M.

• H1 net income benefited from a $9.8M non-cash warrant fair-value gain; gross margin fell to 41% from 54% amid lower net prices and greater competition.

Financial highlights

• Q2 gross profit increased to $16.0M from $14.1M; operating income rose 21% to $9.9M from $8.2M.

• H1 gross profit decreased to $29.5M from $41.3M; operating income was $17.5M versus $29.9M.

• H1 income before tax increased to $27.5M from $15.1M; income tax expense was $4.2M versus $7.3M.

Outlook and guidance

• Strategy prioritizes approved generics, additional ANDA development, pipeline candidates, licensing and co-development; portfolio diversification is intended to reduce risk.

• An anticoagulant generic ANDA was filed in June 2026; positive pivotal bioequivalence results were reported for an undisclosed anticonvulsant candidate.

• Two generic ANDAs remain under FDA review; generic OxyContin launch depends on FDA approval, while SequestOx development is paused amid study costs and uncertain commercial prospects.