Filing Flows › Alkermes (ALKS) › Q2 2026 › vs Q2 2025
Alkermes (ALKS) Q2 2026 vs Q2 2025 (year over year)
Alkermes's revenue rose $105M (+27%) from $391M in Q2 2025 to $496M in Q2 2026. The biggest changes: Manufactured Product and Royalty +$863K (+1%).
Alkermes, Q2 2026: revenue $496M (+27% year over year), operating margin 3.7%, net earnings $501K, operating cash flow $145M. The chart draws each line against Q2 2025, the increases inside each band.
Margins
| Q2 2026 | Q2 2025 | Change | |
|---|---|---|---|
| Free cash flow margin | 27.6% | 35.1% | -7.5 pts |
Every line
| Line | Q2 2026 | Q2 2025 | Change | % |
|---|---|---|---|---|
| Vivitrol | $124M | $122M | $2.8M | +2% |
| Aristada and Aristada Initio | $96.7M | $101M | −$4.6M | -5% |
| LYBALVI | $94.0M | $84.3M | $9.7M | +12% |
| Royalty | $63.4M | $66.9M | −$3.5M | -5% |
| Manufacturing Revenue | $20.9M | $16.6M | $4.3M | +26% |
| Manufactured Product and Royalty | $84.3M | $83.4M | $863K | +1% |
| Revenue | $496M | $391M | $105M | +27% |
| Income tax benefit | $2.4M | −$17.7M | $20.1M | — |
| Costs & expenses | $498M | $403M | $95.9M | +24% |
| Operating costs | $478M | $298M | $180M | +60% |
| Interest & other, net | $20.2M | −$11.9M | $32.1M | — |
| Net earnings | $501K | $87.1M | −$86.6M | -99% |
| Cost of revenue | $98.1M | $49.5M | $48.7M | +98% |
| Research & development | $113M | $77.4M | $35.5M | +46% |
| Sales & marketing | $154M | $121M | $33.2M | +27% |
| General & admin | $63.3M | $49.7M | $13.6M | +27% |
| Operating cash sources | $145M | $150M | −$5.0M | -3% |
| Depreciation & amortization | $30.3M | $7.8M | $22.5M | +287% |
| Share-based compensation | $31.1M | $25.0M | $6.2M | +25% |
| Working capital & other | $83.3M | $30.3M | $52.9M | +175% |
| Operating cash flow | $145M | $150M | −$5.0M | -3% |
| Free cash flow (OCF − capex) | $137M | $137M | −$149K | -0.1% |
| Capital expenditures | $8.1M | $13.0M | −$4.9M | -37% |
Questions
How much did Alkermes's revenue grow year over year in Q2 2026?
Alkermes's revenue rose $105M (+27%) from $391M in Q2 2025 to $496M in Q2 2026.
What drove Alkermes's revenue change in Q2 2026?
Manufactured Product and Royalty +$863K (+1%).