Neurocrine Biosciences (NBIX) Q3 2026 earnings summary

Executive summary

• Q3 2026 revenue was $1,122.7M, up 41% YoY, with net product sales of $1,119.0M; INGREZZA, CRENESSITY and VYKAT XR drove growth.

• INGREZZA FY2026 sales guidance increased to $2.900B–$2.925B, and nine pipeline program readouts are anticipated in 2027.

Financial highlights

• Q3 revenue was $1,122.7M vs. $794.9M, and operating income was $331.3M vs. $239.0M.

• GAAP net income was $206.5M vs. $209.5M; diluted EPS was $1.96 vs. $2.04.

• Non-GAAP net income rose to $346.7M from $222.1M; non-GAAP diluted EPS was $3.29 vs. $2.17.

• Q3 net product sales were $1,119.0M vs. $789.9M; collaboration revenue was $3.7M vs. $5.0M.

• 9M revenue was $2,896.2M vs. $2,055.0M; GAAP net income was $548.8M vs. $324.9M.

Outlook and guidance

• FY2026 INGREZZA net sales guidance rose to $2.900B–$2.925B from $2.825B–$2.875B.

• FY2026 GAAP R&D guidance remains $1.275B–$1.325B and non-GAAP R&D $1.14B–$1.19B; R&D guidance includes ~$33M of development milestones.

• FY2026 GAAP SG&A guidance was lowered to $1.54B–$1.56B from $1.575B–$1.60B; non-GAAP SG&A was lowered to $1.29B–$1.31B from $1.325B–$1.35B.

• 2027 INGREZZA volume growth is expected to remain double-digit, offsetting mid- to high-single-digit net pricing headwinds; formal sales guidance is due in February.

• Phase III readouts for osavampator in MDD and direclidine in schizophrenia are expected in H2 2027; nine program readouts are anticipated during 2027.