ALKS Alkermes plc.
Price Chart
Executive Summary
Alkermes reported Q1 2026 revenue of $392.9M, up 28% YoY, driven by the Avadel acquisition adding LUMRYZ ($39.5M) and strong growth in LYBALVI (+32%). GAAP net loss was $66.5M vs. $22.5M income a year ago, reflecting acquisition-related costs and higher R&D/SG&A. The company narrowed its FY 2026 GAAP net loss guidance to ($70M)-($90M) from ($115M)-($135M) on lower expected COGS and amortization, while maintaining revenue and Adjusted EBITDA guidance.
Key Financial Metrics
Actionable Insight
The Avadel acquisition is transforming the revenue base but depressing GAAP earnings due to non-cash charges. Monitor LUMRYZ sales trajectory and integration costs in Q2; the improved GAAP net loss guidance suggests cost synergies are tracking ahead of plan. The maintained Adjusted EBITDA guidance of $370M-$410M provides a clean view of underlying cash generation.
Key Facts
- Q1 2026 total revenue $392.9M, up 28% YoY from $306.5M
- GAAP net loss of $66.5M vs. net income of $22.5M in Q1 2025
- GAAP diluted EPS of ($0.40) vs. $0.13 in Q1 2025
- Adjusted EBITDA of $80.3M, up 76% from $45.6M in Q1 2025
- LYBALVI revenue $92.4M, up 32% YoY; prescriptions up 21%
- LUMRYZ contributed $39.5M in first 6 weeks post-Avadel acquisition
- FY 2026 revenue guidance maintained at $1.73B-$1.84B
- FY 2026 GAAP net loss guidance improved to ($70M)-($90M) from ($115M)-($135M)
- FY 2026 Adjusted EBITDA guidance maintained at $370M-$410M
- Share repurchases of ~1M shares for $28M in Q1; $172M remaining under program
Financial Impact
Revenue growth of 28% YoY to $392.9M, but GAAP net loss of $66.5M driven by $55.8M in Avadel acquisition costs and $54.6M in share-based compensation
Risk Factors
- Integration of Avadel may face execution risks; $1.525B in new term loans increases leverage
- LUMRYZ faces competition from Jazz Pharma's Xyrem/Xywav; market share trajectory is key
- R&D spending up 44% YoY to $103.3M as Phase 3 alixorexton program ramps up
- GAAP net loss expected for full year 2026 despite strong revenue growth
Market Snapshot
Documents Analyzed
This report is based on 7 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| 8-K Filing (Primary) | 0001193125-26-205008 |
| Document: alks-20260505.htm | 0001193125-26-205008 |
| Document: alks-ex99_2.htm | 0001193125-26-205008 |
| Document: 0001193125-26-205008-index-headers.html | 0001193125-26-205008 |
| Document: 0001193125-26-205008-index.html | 0001193125-26-205008 |
| Document: 0001193125-26-205008.txt | 0001193125-26-205008 |
| 8-K Data (Synthetic) | 0001193125-26-205008 |
Track record builds as more directional reports settle.
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
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May 20, 2026
today
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8-K
| — | awaiting T+5 | — | — |
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May 13, 2026
7d ago
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DEFA14A
| — | awaiting T+5 | — | — |
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May 12, 2026
9d ago
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8-K
| $38.26 $37.19 | ▼ −2.79% | ▼ −2.87% | $36.94 (−3.44%) |
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May 5, 2026
16d ago
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8-K
| $36.23 $38.26 | ▲ +5.60% | ▲ +3.62% | $36.94 (+1.97%) |
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May 1, 2026
20d ago
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Insider Cluster
| $33.26 $35.40 | ▲ +6.44% | ▲ +4.10% | $36.94 (+11.07%) |
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Mar 2, 2026
11w ago
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Insider Cluster
| $30.24 $28.45 | ▼ −5.92% | ▼ −4.71% | $36.94 (+22.17%) |
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Feb 25, 2026
12w ago
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8-K
| $31.03 $29.16 | ▼ −6.03% | ▼ −4.93% | $36.94 (+19.06%) |
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Feb 25, 2026
12w ago
|
8-K
| $31.03 $29.16 | ▼ −6.03% | ▼ −4.93% | $36.94 (+19.06%) |
US Market Status
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