HLS Therapeutics (HLS) Q2 2026 earnings summary

Executive summary

• Cardiovascular portfolio net sales grew 25% year-over-year in Q2 2026, led by Vascepa's double-digit growth and a strong NILEMDO launch.

• CLOZARIL's Canadian patient base expanded for five consecutive months, maintaining ~50% market share and stabilizing the business.

• The company consistently generated cash, reduced net debt by 26% from year-end 2025, and has its strongest balance sheet in years.

• NILEMDO secured reimbursement with major private payers, received a unanimous public reimbursement recommendation, and achieved 80% private payer coverage.

• Guidance for 2026 is reaffirmed, with revenue expected at $56–$60 million and Adjusted EBITDA at $18.5–$21 million.

Financial highlights

• Q2 2026 revenue was $14.7 million, up 3.5% year-over-year; year-to-date revenue reached $27.5 million.

• Vascepa net sales grew 18% year-over-year in Q2 2026; NILEMDO generated over $300,000 in its first full quarter.

• CLOZARIL Canada net sales declined 1% year-over-year, but patient base grew; U.S. CLOZARIL net sales were $3 million, down from $3.5 million.

• Q2 2026 Adjusted EBITDA was $4.7 million, down from $5.2 million in Q2 2025, reflecting NILEMDO launch investment.

• Cash from operations up 14% year-to-date, reaching $9.3 million.

Outlook and guidance

• 2026 revenue guidance reaffirmed at $56–$60 million; Adjusted EBITDA at $18.5–$21 million.

• Expect margin expansion in cardiovascular portfolio as NILEMDO revenue ramps in the second half of 2026.

• NEXLIZET Health Canada decision expected by year-end 2026, with launch targeted for first half of 2027.

• Anticipate improved year-over-year Adjusted EBITDA in the second half of 2026.

• Future results may be impacted by exchange rate volatility.