ANI Pharmaceuticals (ANIP) Q2 FY2026 earnings: revenue $266 million, up 25.9% on the year

ANI Pharmaceuticals Inc. (ANIP) reported revenue of $266 million for Q2 FY2026, the quarter ended 30 June 2026, up 25.9% on the same quarter a year earlier. Net income was $25 million, up 189.1% on the year, and diluted earnings per share $1.05. The figures are the company's own, from the 10-Q it filed with the SEC on 7 August 2026.

Revenue$266 millionup 25.9%

Net income$25 millionup 189.1%

Diluted EPS$1.05

QuarterQ2 FY2026ended 30 June 2026

What management said

Guidance figures: 1 lowered, 5 kept.

Total revenue grew 25.9 percent: Second quarter net revenues reached $266.0 million, up from $211.4 million in the year-ago quarter, driven by Cortrophin Gel momentum and continued generics strength across all business units.
Cortrophin Gel surged 43.5 percent: Cortrophin Gel net revenues reached $117.1 million in Q2, up 43.5 percent year-over-year, driven primarily by increased volume across all target indications.
Initial demand metrics very positive: Over 95 percent of field representatives generating multiple new patient cases. Over one-third of prescribers initiated two or more cases. Balanced demand from both podiatrists and primary care physicians.

Read the earnings call summary

The quarter, against the one before and a year earlier

Line	Q2 FY2026	Q1 FY2026	Q2 FY2025	Change on the year
Revenue	266	237	211	+25.9%
Cost of revenue	100	93.6	74.6	+34.2%
Gross profit	166	144	137	+21.3%
Gross margin	62.4%	60.6%	64.7%
Research and development	14.7	10.6	16.5	-10.8%
Selling, general and administrative	91.7	73.7	81.8	+12.1%
Operating income	40.5	38.9	13.9	+191.2%
Operating margin	15.2%	16.4%	6.6%
Interest expense	7.5	7.6	8.2	-8.8%
Pre-tax income	37.1	40.2	10.5	+252.5%
Income tax	12.4	10.7	2.0	+526.8%
Effective tax rate	33.4%	26.7%	18.8%
Net income	24.7	29.5	8.5	+189.1%
Net margin	9.3%	12.4%	4.0%
Diluted EPS	$1.05	$1.28	$0.36	+191.7%

$ 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 and capital returned

Line	Q2 FY2026	Q1 FY2026	Q2 FY2025	Change on the year
Operating cash flow	56.7	58.4	75.8	-25.3%
Capital expenditure	3.1	6.1	4.0	-23.9%
Free cash flow	53.6	52.3	71.8	-25.3%
Free cash flow margin	20.2%	22.0%	34.0%
Cash from investing	-3.1	-11.3	-6.9	n/a
Cash from financing	-4.6	-21.6	-1.7	n/a
Depreciation and amortisation	19.6	20.9	23.3	-15.6%
Share-based compensation	11.4	10.2	9.6	+18.8%
Buybacks	0.8	19.8	0.6	+47.5%
Dividends paid	0.0	0.0	0.4	n/a
Diluted shares, weighted	22m	22m	20m	+7.9%

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

Balance sheet at quarter end

Line	Q2 FY2026	Q1 FY2026	Q2 FY2025	Change on the year
Shareholders' equity	597	562	437	+36.7%
Redeemable equity	n/a	n/a	24.9	n/a
Debt	610	614	622	-1.8%
Other liabilities	286	246	260	+10.2%
Total liabilities and equity	1,494	1,422	1,343	+11.3%
Fixed assets	73.2	67.1	59.2	+23.6%
Goodwill	62.5	62.5	60.5	+3.2%
Intangible assets	450	467	520	-13.5%
Cash and equivalents	360	311	218	+65.4%
Receivables	274	255	226	+21.6%
Inventory	143	143	138	+3.5%
Other assets	131	115	121	+7.9%
Total assets	1,494	1,422	1,343	+11.3%

Questions

What was ANI Pharmaceuticals' revenue in Q2 FY2026?

ANI Pharmaceuticals (ANIP) reported revenue of $266 million for Q2 FY2026, the quarter ended 30 June 2026, up 25.9% on the same quarter a year earlier.

How much did ANI Pharmaceuticals earn in Q2 FY2026?

Net income for Q2 FY2026 was $25 million, up 189.1% on the year, and diluted earnings per share $1.05.

When did ANI Pharmaceuticals report Q2 FY2026 results?

ANI Pharmaceuticals filed its 10-Q for the quarter ended 30 June 2026 with the SEC on 7 August 2026.

Quarterly results, the last 12 quarters

	Q3 FY2023	Q4 FY2023 *	Q1 FY2024 †	Q2 FY2024 †	Q3 FY2024	Q4 FY2024 * †	Q1 FY2025	Q2 FY2025	Q3 FY2025	Q4 FY2025 *	Q1 FY2026	Q2 FY2026
Revenue	132	132	137	138	148	191	197	211	228	247	237	266
Cost of revenue	48.1	53.4	49.2	57.7	63.1	80.3	73.0	74.6	93.4	100	93.6	100
Gross profit	83.7	78.2	88.3	80.3	85.3	110	124	137	134	147	144	166
Gross margin	64%	59%	64%	58%	57%	58%	63%	65%	59%	59%	61%	62%
R&D	11.1	9.9	10.5	7.3	10.1	16.6	10.6	16.5	12.3	12.3	10.6	14.7
SG&A	42.0	44.5	48.0	52.8	79.1	69.7	76.5	81.8	76.7	82.8	73.7	91.7
Operating income	17.9	6.7	20.3	5.2	-20.5	-4.4	26.2	13.9	36.2	34.8	38.9	40.5
Operating margin	14%	5%	15%	4%	-14%	-2%	13%	7%	16%	14%	16%	15%
Interest expense	8.3	8.3	9.1	9.1	6.7	8.8	8.1	8.2	8.3	8.0	7.6	7.5
Pre-tax income	11.5	0.9	25.3	-2.3	-31.5	-13.8	20.0	10.5	33.8	31.5	40.2	37.1
Tax rate	14%	-22%	28%	n/a	n/a	n/a	22%	19%	21%	13%	27%	33%
Net income	9.9	1.2	18.2	-2.3	-24.2	-10.3	15.7	8.5	26.6	27.5	29.5	24.7
Net margin	8%	1%	13%	-2%	-16%	-5%	8%	4%	12%	11%	12%	9%
Diluted EPS	$0.45	$0.04	$0.82	-$0.14	-$1.27	-$0.55	$0.69	$0.36	$1.13	$1.24	$1.28	$1.05
Operating cash flow	32.2	44.7	18.3	17.4	12.5	15.9	35.0	75.8	44.1	30.4	58.4	56.7
Capital expenditure	1.7	2.3	4.6	4.4	4.8	2.4	2.5	4.0	6.1	1.2	6.1	3.1
Free cash flow	30.4	42.5	13.7	13.0	7.7	13.5	32.5	71.8	38.0	29.1	52.3	53.6
Buybacks	0.7	0.2	8.7	1.3	0.7	0.3	10.0	0.6	1.0	0.6	19.8	0.8
Dividends paid	0.4	0.4	0.4	0.4	0.4	0.4	0.4	0.4	0.3	0.0	0.0	0.0
Shares outstanding	n/a	n/a	n/a	n/a	n/a	21m	n/a	n/a	n/a	22m	n/a	n/a
Filing	10-Q	10-K	10-Q	10-Q	10-Q	10-K	10-Q	10-Q	10-Q	10-K	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 diluted share count are from the company's results press release for that quarter, used where the release gives the same revenue and net income as the table. 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.

Source

10-Q for the period ended 30 June 2026, filed 7 August 2026, accession 0001023024-26-000069: the filing on EDGAR. All of ANI Pharmaceuticals Inc.'s filings: EDGAR company page.

The same record on your computer

GreekSoup is also a free program for your own computer. It reads these same filings for the names you follow, refreshed as they land, with no account. One pasted line installs it.

Install