The massive EPS beat and raised guidance signal accelerating Rare Disease momentum and operational leverage. The $100M buyback adds a capital return catalyst. Watch for continued Cortrophin Gel adoption in acute gouty arthritis and the Phase 4 SYNCHRONICITY trial readout in H2 2026 as next catalysts.
Price Chart
Executive Summary
ANI Pharmaceuticals reported Q1 2026 adjusted non-GAAP diluted EPS of $2.05, beating the $1.30 consensus by 57.7%, on revenue of $237.5M (20.5% YoY growth), above the $207.6M consensus. The company raised full-year 2026 guidance for revenue to $1.08B-$1.14B and adjusted EPS to $9.19-$9.69, and authorized a $100M share repurchase program. Cortrophin Gel revenue grew 42.1% YoY to $75.1M, and the Rare Disease segment expanded 36.9%.
Key Financial Metrics
Key Facts
- Q1 2026 adjusted non-GAAP diluted EPS of $2.05 vs consensus $1.30 (57.7% beat)
- Q1 2026 total net revenue of $237.5M vs consensus $207.6M (14.4% beat), up 20.5% YoY
- Cortrophin Gel net revenue of $75.1M, up 42.1% YoY
- Raised FY2026 guidance: revenue $1.08B-$1.14B (prev. $1.055B-$1.115B), adjusted EPS $9.19-$9.69 (prev. $8.83-$9.34)
- Board authorized $100M share repurchase program through May 2029
- GAAP net income available to common shareholders of $29.5M ($1.28 diluted EPS) vs $15.3M ($0.69) in prior year
- Adjusted non-GAAP EBITDA of $63.0M, up 24.1% YoY
- Cash flow from operations of $58.4M in Q1; $311.2M unrestricted cash at quarter end
Financial Impact
Q1 revenue beat consensus by ~$29.9M (14.4%); EPS beat by $0.75 (57.7%); FY guidance raised by $25M at midpoint for revenue and $0.36 for adjusted EPS
Risk Factors
- Brands revenue declined 50.9% YoY, indicating normalization in demand for certain products
- Gross margin contracted ~230bps YoY (GAAP) due to higher royalty-bearing product mix
- Dependence on Cortrophin Gel for growth; insurance re-verification seasonality could impact future quarters
- Debt of $625M principal outstanding; interest expense remains a cash flow drag
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 1 press release from GlobeNewswire.
| Document | Accession Number |
|---|---|
| PRESS-RELEASE Data (Synthetic) | press-3290972 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Sep 15, 2026 17d ago | Insider Cluster | $72.11 $77.91 | ▲ +8.04% | ▲ +7.23% | $71.97 (−0.19%) |
Sep 1, 2026 4w ago | Insider Cluster | $73.06 $71.46 | ▼ −2.19% | ▼ −1.23% | $71.97 (−1.49%) |
Aug 24, 2026 5w ago | 8-K | $74.17 $73.25 | ▼ −1.24% | ▼ −1.71% | $71.97 (−2.97%) |
Aug 13, 2026 7w ago | Insider Cluster | $74.77 $77.32 | ▲ +3.41% | ▲ +5.37% | $71.97 (−3.74%) |
Aug 7, 2026 8w ago | 8-K | $78.25 $76.54 | ▼ −2.19% | ▼ −2.58% | $71.97 (−8.03%) |
Jul 16, 2026 11w ago | Court Ruling | $81.92 $78.53 | ▼ −4.14% | ▼ −2.47% | $71.97 (−12.15%) |
Jul 13, 2026 11w ago | Press Release | $81.08 $79.20 | ▼ −2.32% | ▼ −1.53% | $71.97 (−11.24%) |
Jun 15, 2026 15w ago | Insider Cluster | $83.00 $82.94 | ▼ −0.07% | ▲ +2.16% | $71.97 (−13.29%) |
Jun 11, 2026 16w ago | Insider Cluster | $81.65 $80.52 | ▼ −1.38% | ▼ −1.82% | $71.97 (−11.86%) |
May 21, 2026 19w ago | 8-K | $82.72 $76.71 | ▼ −7.27% | ▼ −8.92% | $71.97 (−13.00%) |
US Market Status
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