Filing Flows › Alkermes (ALKS) › Q3 2026 › vs Q2 2026
Alkermes (ALKS) Q3 2026 vs Q2 2026 (quarter over quarter)
Alkermes's revenue fell $15.9M (-3%) from $496M in Q2 2026 to $480M in Q3 2026. The biggest changes: Product +$5.6M (+1%); Royalty −$225K (-0.4%). Operating margin 7.5% against 3.7% (+3.8 pts).
Alkermes, Q3 2026: revenue $480M (+22% year over year), operating margin 7.5%, net earnings $16.3M, operating cash flow $93.5M. The chart draws each line against Q2 2026, the increases inside each band.
Margins
| Q3 2026 | Q2 2026 | Change | |
|---|---|---|---|
| Operating margin | 7.5% | 3.7% | +3.8 pts |
| Net margin | 3.4% | 0.1% | +3.3 pts |
| Free cash flow margin | 18.8% | 27.6% | -8.9 pts |
Every line
| Line | Q3 2026 | Q2 2026 | Change | % |
|---|---|---|---|---|
| Vivitrol | $128M | $124M | $3.1M | +2% |
| Aristada and Aristada Initio | $104M | $96.7M | $7.2M | +7% |
| LYBALVI | $95.9M | $94.0M | $1.9M | +2% |
| LUMRYZ | $89.9M | $96.6M | −$6.7M | -7% |
| Product | $417M | $412M | $5.6M | +1% |
| Royalty | $63.2M | $63.4M | −$225K | -0.4% |
| Revenue | $480M | $496M | −$15.9M | -3% |
| Operating profit | $36.0M | $18.4M | $17.7M | +96% |
| Costs & expenses | $444M | $478M | −$33.5M | -7% |
| Pre-tax earnings | $14.7M | −$1.9M | $16.6M | — |
| Other expense, net | $21.3M | $20.2M | $1.1M | +5% |
| Cost of revenue | $94.2M | $98.1M | −$3.9M | -4% |
| Research & development | $121M | $113M | $8.2M | +7% |
| Other operating costs | $20.3M | $49.0M | −$28.7M | -59% |
| Income tax benefit | $1.6M | $2.4M | −$827K | -35% |
| Net earnings | $16.3M | $501K | $15.8M | 33× |
| Depreciation & amortization | $27.2M | $30.3M | −$3.1M | -10% |
| Share-based compensation | $26.7M | $31.1M | −$4.4M | -14% |
| Working capital & other | $23.3M | $83.3M | −$60.0M | -72% |
| Operating cash flow | $93.5M | $145M | −$51.7M | -36% |
| Free cash flow (OCF − capex) | $90.1M | $137M | −$47.0M | -34% |
| Capital expenditures | $3.4M | $8.1M | −$4.7M | -58% |
Questions
How much did Alkermes's revenue grow quarter over quarter in Q3 2026?
Alkermes's revenue fell $15.9M (-3%) from $496M in Q2 2026 to $480M in Q3 2026.
What drove Alkermes's revenue change in Q3 2026?
Product +$5.6M (+1%); Royalty −$225K (-0.4%).