Lantheus — Third Quarter 2026 Earnings Summary

Financial Performance:

• Worldwide revenue increased 1.5% year-over-year to $389.9 million in Q3 2026, compared to $384.0 million in Q3 2025.
• GAAP net income decreased 19.4% to $22.4 million, down from $27.8 million in the prior year period.
• GAAP fully diluted earnings per share (EPS) declined 19.5% to $0.33, compared to $0.41 in Q3 2025.
• Adjusted net income (non-GAAP) rose 34.3% to $115.1 million, up from $85.7 million in Q3 2025.
• Adjusted fully diluted EPS (non-GAAP) increased 32.3% to $1.68, compared to $1.27 in Q3 2025.
• Operating income decreased 26.2% to $32.2 million, while adjusted operating income (non-GAAP) increased 28.1% to $153.2 million.
• Net cash provided by operating activities was $102.0 million, and free cash flow was $99.9 million.
• Cash and cash equivalents increased to $683.6 million at September 30, 2026, from $359.1 million at December 31, 2025.
• The company has access to up to $750.0 million from a revolving line of credit.
• Long-term debt and other borrowings, net of current portion, stood at $571.1 million as of September 30, 2026.

Business Segments and Product Lines:

• PYLARIFY sales were $238.9 million, a decrease of 0.7% year-over-year.
• Neuraceq sales reached $45.6 million, representing a 123.0% increase year-over-year.
• DEFINITY sales were $85.7 million, an increase of 4.8% year-over-year.
• Strategic partnerships and other revenue increased 44.0% to $19.7 million.
• SPECT revenue was $0, down 100.0% from $27.5 million in the prior year period.
• The company received CMS Transitional Pass-Through payment status and a permanent HCPCS code for PYLARIFY TruVu, effective October 1, 2026.
• The FDA approved TAUKLARIFY (florquinitau F-18 injection) for the evaluation of adults with cognitive impairment being assessed for Alzheimer's disease.
• The FDA granted final approval for BRAVNETSA (lutetium Lu 177 dotatate), the only radiopharmaceutical determined to be bioequivalent and therapeutically equivalent to LUTATHERA for GEP-NETs.
• The first patient was dosed in the SPARROW study, a Phase 2/3 registrational trial for LNTH-2401, an investigational GRPR-targeted PET imaging agent for prostate cancer.

Other Key Points:

• On August 3, 2026, the company entered into a definitive agreement to merge with Curium, where Curium US Holdings LLC will acquire all outstanding shares of Lantheus in an all-cash transaction.
• The transaction values up to approximately $8.0 billion, with a per-share consideration of $102.50 in cash plus non-transferable Contingent Value Rights (CVRs) providing up to $12.00 per share in potential additional payments based on commercial milestones through 2030.
• The total per share consideration is up to $114.50.
• The Lantheus Board of Directors unanimously approved the transaction.
• Lantheus is suspending its previously issued full-year 2026 financial guidance due to the pending transaction.
• The company will not host a conference call in connection with its third quarter 2026 results.
• The merger aims to create a radiopharmaceutical company spanning diagnostics and therapeutics with capabilities to serve patients in more than 70 countries.