Earnings Releases·Nov 5, 2026, 4:26 PM ET

Amphastar Pharmaceuticals — Q3 2026 Earnings Summary

Net revenues rose 8% year-over-year to $207.6 million, while GAAP net income surged to $37.8 million ($0.87 per share) from $17.4 million in the prior year period, driven by a $23.1 million litigation provision in Q3 2025 that reduced G&A expenses by 57%.
Gross margin contracted to 48.0% from 51.4% due to a 16% increase in cost of revenues from remediation efforts and facility expansion, though operating cash flow for the nine months ended September 30, 2026, reached $142.5 million.
Product performance showed mixed results with BAQSIMI® and Primatene MIST® sales increasing 10% and 9% respectively, while Epinephrine and Glucagon sales declined 19% and 37% due to IMS subsidiary release delays and increased competition.
The Board authorized a $50 million increase to the share buyback program to offset equity compensation dilution, alongside a robust pipeline including one ANDA, one biosimilar insulin candidate, and three generic products targeting over $6.3 billion in combined market size.