Quarterly ResultMay 6, 2026, 04:09 PM
Sarepta Q1 Net Income $331M vs. $(448M) Loss; EPS $2.88
AI Summary
Sarepta Therapeutics reported a significant financial turnaround in Q1 2026, achieving a net income of $330.96 million, a substantial improvement from a net loss of $447.51 million in Q1 2025. This positive shift was primarily driven by a $325 million collaboration revenue recognition from Roche declining an option and a $40 million milestone payment, alongside a sharp reduction in research and development expenses. However, total product revenues, particularly ELEVIDYS sales, experienced a notable decline. The company continues to navigate regulatory challenges for ELEVIDYS, especially concerning non-ambulatory patients.
Key Highlights
- Net income reached $330.96M in Q1 2026, a significant improvement from a $(447.51M) net loss in Q1 2025.
- Diluted EPS was $2.88 in Q1 2026, up from $(4.60) in Q1 2025.
- Total revenues were $730.80M in Q1 2026, a slight decrease from $744.86M in Q1 2025.
- Collaboration and other revenue increased to $400.29M in Q1 2026 from $133.33M in Q1 2025.
- Product revenues, net, declined to $330.52M in Q1 2026 from $611.52M in Q1 2025.
- ELEVIDYS product revenues decreased to $101.97M in Q1 2026 from $374.99M in Q1 2025.
- Research and development expenses fell to $153.96M in Q1 2026 from $773.45M in Q1 2025.
- Cash and cash equivalents were $464.45M as of March 31, 2026, down from $801.28M at Dec 31, 2025.