Amphastar Pharmaceuticals (AMPH) Q3 FY2026 earnings: revenue $208 million, up 8.2% on the year

Amphastar Pharmaceuticals, Inc. (AMPH) reported revenue of $208 million for Q3 FY2026, the quarter ended 30 September 2026, up 8.2% on the same quarter a year earlier. Net income was $38 million, up 117.7% on the year, and diluted earnings per share $0.87. The figures are the company's own, from the 10-Q it filed with the SEC on 5 November 2026.

Revenue

$208 million

+8.2% on the year · +12.9% on the quarter

Q4 FY2024Q3 FY2026

Operating margin

24.5%

13.2% a year earlier

Q4 FY2024Q3 FY2026

Net income

$38 million

+117.7% on the year · +24.4% on the quarter

Q4 FY2024Q3 FY2026

Diluted EPS

$0.87

+135.1% on the year · +29.9% on the quarter

Q4 FY2024Q3 FY2026

this quarterthe same quarter a year earlierHover a bar for its figure.

What management said

Guidance figures: 1 raised.

Revenue rose 8% on higher sales: Net revenues were $207.6 million, up 8% from $191.8 million a year earlier. Gross profit rose 1% to $99.6 million, and income from operations was $50.8 million against $25.3 million.
GAAP EPS rose on lower G&A: GAAP net income was $37.8 million, or $0.87 diluted EPS, against $17.4 million and $0.37 a year earlier. The prior year carried a $23.1 million litigation provision.
BAQSIMI sales rose on unit volume: BAQSIMI sales rose 10% to $58.8 million. Unit volume added $7.4 million, partly offset by a lower average selling price from gross-to-net changes, which the company put at about $2.2 million.

Read the earnings call summary

Income statement (profit and loss)

$ million	Q3 FY2026	Q2 FY2026	Q3 FY2025	On the quarter	On the year
Revenue	208	184	192	+12.9%	+8.2%
Cost of revenue	108	90.4	93.2	+19.4%	+15.9%
Gross profit	99.6	93.5	98.6	+6.6%	+1.0%
Gross margin	48.0%	50.8%	51.4%
Research and development	20.1	22.2	22.4	-9.4%	-10.2%
Operating income	50.8	39.7	25.3	+27.8%	+100.5%
Operating margin	24.5%	21.6%	13.2%
Interest expense	6.8	6.7	6.3	+1.5%	+7.6%
Pre-tax income	49.1	38.5	21.5	+27.3%	+128.1%
Income tax	11.3	8.2	4.2	+37.9%	+171.5%
Effective tax rate	23.0%	21.3%	19.4%
Net income	37.8	30.3	17.4	+24.4%	+117.7%
Net margin	18.2%	16.5%	9.0%
Diluted EPS	$0.87	$0.67	$0.37	+29.9%	+135.1%

$ million except per share.

Free cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.

Cash flow

$ million	Q3 FY2026	Q2 FY2026	Q3 FY2025	On the quarter	On the year
Operating cash flow	43.3	51.3	52.6	-15.6%	-17.7%
Capital expenditure	9.9	8.6	5.3	+15.7%	+85.9%
Free cash flow	33.4	42.7	47.2	-21.9%	-29.4%
Free cash flow margin	16.1%	23.2%	24.6%
Cash from investing	-64.0	44.9	-19.6
Cash from financing	1.7	-43.5	-4.3
Depreciation and amortisation	15.6	14.3	14.1	+8.9%	+10.3%
Share-based compensation	7.0	7.1	6.3	-1.2%	+11.3%
Buybacks	0.4	45.2	4.8	-99.0%	-91.0%
Diluted shares, weighted	43m	44m	48m	-1.9%	-9.0%
Shares outstanding at period end	43m	43m	46m	+0.3%	-8.0%

Cash flow lines for the quarter; where the company files them year to date, the quarter is the difference between two filings.

Balance sheet

$ million	Q3 FY2026	Q2 FY2026	Q3 FY2025	On the quarter	On the year
Shareholders' equity	815	768	777	+6.0%	+4.9%
Debt	610	610	609	+0.2%	+0.3%
Operating lease liabilities	70.0	67.5	39.4	+3.7%	+77.4%
Finance lease liabilities	0.2	0.2	0.3	-15.5%	-47.5%
Other liabilities	217	298	241	-27.4%	-10.2%
Total liabilities and equity	1,712	1,744	1,666	-1.8%	+2.7%
Fixed assets	313	316	309	-1.0%	+1.4%
Goodwill	3.3	3.3	3.4	-0.3%	-3.0%
Intangible assets	608	615	540	-1.2%	+12.7%
Investments	26.0	66.5	59.9	-60.8%	-56.5%
Cash and equivalents	205	224	216	-8.5%	-5.4%
Receivables	182	145	147	+25.8%	+24.1%
Inventory	174	180	186	-3.3%	-6.5%
Other assets	201	194	206	+3.4%	-2.3%
Total assets	1,712	1,744	1,666	-1.8%	+2.7%

Questions

What was Amphastar Pharmaceuticals' revenue in Q3 FY2026?

Amphastar Pharmaceuticals (AMPH) reported revenue of $208 million for Q3 FY2026, the quarter ended 30 September 2026, up 8.2% on the same quarter a year earlier.

How much did Amphastar Pharmaceuticals earn in Q3 FY2026?

Net income for Q3 FY2026 was $38 million, up 117.7% on the year, and diluted earnings per share $0.87.

When did Amphastar Pharmaceuticals report Q3 FY2026 results?

Amphastar Pharmaceuticals filed its 10-Q for the quarter ended 30 September 2026 with the SEC on 5 November 2026.

Quarterly results, the last 20 quarters

	Q4 FY2021 *	Q1 FY2022	Q2 FY2022	Q3 FY2022	Q4 FY2022 *	Q1 FY2023	Q2 FY2023	Q3 FY2023	Q4 FY2023 *	Q1 FY2024	Q2 FY2024 †	Q3 FY2024 †	Q4 FY2024 *	Q1 FY2025	Q2 FY2025	Q3 FY2025	Q4 FY2025 *	Q1 FY2026	Q2 FY2026	Q3 FY2026
Revenue	121	120	123	120	135	140	146	181	178	172	182	191	187	171	174	192	183	171	184	208
Cost of revenue	64.7	64.5	60.1	61.6	63.9	66.2	73.0	72.2	82.0	81.7	87.2	89.3	99.9	85.3	87.9	93.2	97.4	101	90.4	108
Gross profit	56.2	55.8	63.4	58.5	71.2	73.8	72.7	108	96.1	90.1	95.2	102	86.6	85.3	86.5	98.6	85.7	70.3	93.5	99.6
Gross margin	47%	46%	51%	49%	53%	53%	50%	60%	54%	52%	52%	53%	46%	50%	50%	51%	47%	41%	51%	48%
R&D	17.3	16.2	22.8	18.5	17.2	19.8	16.8	16.7	20.4	17.0	17.7	21.1	18.1	20.1	20.1	22.4	23.3	26.7	22.2	20.1
Operating income	24.3	21.6	24.8	23.2	37.8	33.4	36.9	72.7	54.0	48.0	55.2	57.0	45.1	37.3	42.2	25.3	35.6	13.6	39.7	50.8
Operating margin	20%	18%	20%	19%	28%	24%	25%	40%	30%	28%	30%	30%	24%	22%	24%	13%	19%	8%	22%	24%
Interest expense	0.2	0.4	0.4	0.6	0.5	0.4	3.6	13.7	9.5	8.6	8.6	6.7	6.4	6.3	6.3	6.3	6.6	6.6	6.7	6.8
Pre-tax income	27.2	29.0	23.2	22.6	41.3	33.6	32.8	63.6	41.3	47.9	50.2	47.7	44.0	30.9	39.3	21.5	31.9	10.1	38.5	49.1
Tax rate	26%	14%	24%	29%	18%	20%	19%	22%	11%	9%	24%	15%	14%	18%	21%	19%	23%	36%	21%	23%
Net income	19.8	24.3	17.3	15.9	33.9	26.0	26.1	49.2	36.2	43.2	37.9	40.4	38.0	25.3	31.0	17.4	24.4	6.4	30.3	37.8
Net margin	16%	20%	14%	13%	25%	19%	18%	27%	20%	25%	21%	21%	20%	15%	18%	9%	13%	4%	17%	18%
Diluted EPS	$0.40	$0.47	$0.33	$0.30	$0.66	$0.50	$0.49	$0.91	$0.68	$0.81	$0.73	$0.78	$0.74	$0.51	$0.64	$0.37	$0.51	$0.14	$0.67	$0.87
Operating cash flow	40.4	50.8	2.8	20.4	15.2	40.4	54.9	64.3	23.9	55.3	69.1	60.0	29.0	35.1	35.6	52.6	32.9	47.8	51.3	43.3
Capital expenditure	6.9	6.1	6.0	5.6	6.3	9.5	9.1	10.2	9.4	8.8	6.0	13.8	12.4	10.7	10.6	5.3	8.3	9.5	8.6	9.9
Free cash flow	33.6	44.6	-3.1	14.8	8.9	30.9	45.9	54.1	14.4	46.5	63.1	46.2	16.6	24.4	25.0	47.2	24.6	38.3	42.7	33.4
Buybacks	13.4	1.2	6.1	14.5	18.1	8.0	0.1	50.0	0.0	n/a	n/a	35.0	n/a	11.0	39.2	4.8	20.5	29.5	45.2	0.4
Shares outstanding	48m	49m	49m	49m	48m	48m	49m	48m	48m	49m	49m	48m	48m	48m	46m	46m	46m	45m	43m	43m
Filing	10-K	10-Q	10-Q	10-Q	10-K	10-Q	10-Q	10-Q	10-K	10-Q	10-Q	10-Q	10-K	10-Q	10-Q	10-Q	10-K	10-Q	10-Q	10-Q

Each quarter as filed, linked to its filing.

* The fourth quarter is the full year less the first three quarters, because the company files the year and not the quarter on its own. A fourth quarter's EPS, and its diluted share count where shown, are from the company's results press release for that quarter, checked against the company's filed figures or a second data source. A quarter marked † is shown as the company last restated it in a later filing, so it compares with the quarters around it on one basis; rest on a figure for the one first filed. EPS is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and the share count are as they are. Free cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Cash flow lines filed year to date are the difference between two filings. Shares outstanding are at the period end where the balance sheet tags them, otherwise the count on the filing's cover page. A derived fourth-quarter EPS is left blank when a split in the year makes the arithmetic meaningless.

10-Q for the period ended 30 September 2026, filed 5 November 2026: the filing.