Alkermes Reports Q1 Revenue Growth, Narrows Full-Year GAAP Loss & Improves EBITDA Guidance Post-Avadel Acquisition
ALKS sits 40% above its 52-week low of $25.165.
Summary
Alkermes reported increased Q1 revenues and narrowed its full-year GAAP net loss and improved EBITDA guidance, reflecting the financial impact and integration of the Avadel acquisition.
Key Events · Earnings and Guidance · ALKS
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Q1 2026 Financial Results
Total revenues increased to $392.9 million from $306.5 million year-over-year. The company reported a GAAP net loss of $66.5 million and an EBITDA loss of $30.1 million, but adjusted EBITDA grew to $80.3 million.
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Updated FY2026 Guidance
Alkermes narrowed its projected GAAP net loss for 2026 to between $70 million and $90 million (from $115 million to $135 million previously) and improved its EBITDA guidance to between $105 million and $135 million (from $60 million to $90 million).
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Avadel Acquisition Impact
The Q1 results include six weeks of LUMRYZ revenue ($39.5 million) following the Avadel Pharmaceuticals acquisition in February 2026. The improved full-year guidance is attributed to non-cash purchase price accounting adjustments related to this acquisition.
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Share Repurchase Activity
The company repurchased approximately 1 million ordinary shares for $28 million during Q1 2026, with $172 million remaining under the authorized program.
Analysis · ALKS · Life Sciences
Alkermes plc reported strong first-quarter revenue growth, driven by proprietary product sales including the newly acquired LUMRYZ. While the company posted a GAAP net loss and negative EBITDA for Q1 2026, it significantly improved its full-year 2026 GAAP net loss and EBITDA guidance. This positive revision is primarily due to non-cash accounting adjustments related to the Avadel Pharmaceuticals acquisition, which closed in February 2026. The updated outlook suggests a more favorable financial trajectory for the year as the company integrates the acquisition and advances its sleep medicine pipeline.
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At the time of this filing, ALKS was trading at $35.15 on NASDAQ in the Life Sciences sector, with a market capitalization of approximately $5.7B. The 52-week trading range was $25.17 to $36.48. This filing was assessed with neutral market sentiment and an importance score of 7 out of 10.