Earnings Releases·Nov 5, 2026, 4:10 PM ET

Sarepta Therapeutics — Third Quarter 2026 Earnings Summary

Total revenues declined 5% year-over-year to $381.4 million in Q3 2026, driven by a $62.0 million Catalent take-or-pay charge; however, GAAP operating loss narrowed significantly to $9.0 million from $103.4 million in the prior year, while Non-GAAP operating income turned positive at $22.9 million.
The company raised its 2026 total net product revenue guidance by $50.0 million to a range of $1.25 billion to $1.3 billion and narrowed full-year Non-GAAP R&D and SG&A expense guidance to $800 million–$825 million.
ELEVIDYS generated $83.5 million in Q3 net product revenue, with fourth-quarter expectations to remain consistent with the third quarter, despite updated labeling restricting treatment to ambulatory patients and a Boxed Warning for acute liver injury.
Pipeline progress includes expected multiple ascending dose data for SRP-1003 (DM1) and SRP-1001 (FSHD) by year-end, with the company actively preparing for Phase 3 development and clinical supply manufacturing.
Strategic financial updates include a $39.0 million litigation settlement charge and a $62.0 million manufacturing charge, offset by strong balance sheet liquidity totaling $998.7 million as of September 30, 2026.