Puma Biotechnology (PBYI) Q2 2026 earnings summary

Executive summary

• Total revenue for Q2 2026 was $56.5 million, up from $52.4 million in Q2 2025, driven by increased NERLYNX demand and higher net product revenue.

• Net product revenue from NERLYNX reached $53.6 million in Q2 2026, up from $42 million in Q1 2026 and $49.2 million in Q2 2025.

• Net income for Q2 2026 was $8.2 million ($0.16 per diluted share), compared to a net loss of $3.8 million in Q1 2026 and up from $5.9 million in Q2 2025.

• The company is debt-free after making its final loan payment in Q2 2026.

• Clinical development advanced with ongoing and planned ALISCA trials for alisertib in breast and lung cancer.

Financial highlights

• Gross revenue from NERLYNX sales was $74.3 million in Q2 2026, up from $57.5 million in Q1 2026.

• Royalty revenue was $2.9 million in Q2 2026, flat sequentially but down from $3.2 million year-over-year.

• Cost of sales was $12.5 million in Q2 2026, nearly flat year-over-year.

• SG&A expenses decreased by $0.5 million year-over-year to $17.5 million, while R&D expenses rose to $18.9 million due to increased clinical trial activity.

• Cash, cash equivalents, and marketable securities totaled $93.9 million as of June 30, 2026.

Outlook and guidance

• Full year 2026 total revenue guidance raised to $224–$231 million, with net NERLYNX product revenue guidance at $205–$209 million.

• FY 2026 royalty revenue expected at $19–$22 million, slightly lower than prior guidance.

• FY 2026 net income guidance increased to $19–$22 million.

• Q3 2026 net product revenue expected at $54–$56 million; net income guidance for Q3 is $2–$2.5 million.

• Gross to net adjustment expected at 26.5%–27.5% for the year.