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Amphastar Pharmaceuticals (AMPH) earnings and revenue breakdown
Latest: Q3 2026 · 10-Q filed Nov 5, 2026 · Amphastar Pharmaceuticals (AMPH) Q3 2026 earnings results →
Q3 2026 Revenue up 8% year over year to $208M · 18¢ of every $1 of revenue kept as net profit · operating margin 24.5%
Amphastar Pharmaceuticals made $208M in Q3 2026 (+8% Y/Y). Operating margin 24.5%, net earnings $37.8M. See where every dollar goes — costs, profit and cash — as a Sankey from the 10-Q filed Nov 5, 2026.
Drawing the Sankey…
Open the interactive Sankey → click any line for what the company wrote about it, compare Y/Y and Q/Q, export as PNG or PDF
What changed this quarter
Revenue was $207.6M in Q3 2026, up 8% year over year and up 13% from the previous quarter.
Gross margin was 48.0%, down 3.4 points from Q3 2025. Operating profit was $50.8M, a 24.5% margin (up 11.3 points year over year). Of the extra revenue versus Q3 2025, 161% reached operating profit, above the 13% margin then. Operating expenses fell 33% while revenue rose 8%. Net earnings were $37.8M, up 118% year over year. The effective tax rate was 23.0%.
Operating cash flow was $43.3M (down 18% year over year), 115% of net earnings. Non-cash charges added back $15.6M of depreciation and amortization and $7.0M of share-based compensation. Working capital and other items used $17.1M. Capital expenditures of $9.9M left free cash flow of $33.4M.
Quarterly history
| Quarter | Form | Filed | Revenue | Y/Y | Op. margin | Net earnings | Op. cash flow |
|---|---|---|---|---|---|---|---|
| Q3 2026 | 10-Q | Nov 5, 2026 | $208M | +8% | 24.5% | $37.8M | $43.3M |
| Q2 2026 | 10-Q | Aug 6, 2026 | $184M | +5% | 21.6% | $30.3M | $51.3M |
| Q1 2026 | 10-Q | May 7, 2026 | $171M | +0.4% | 8.0% | $6.4M | $47.8M |
| Q4 2025 | 10-K | Feb 26, 2026 | $183M | -2% | 19.4% | $24.4M | $32.9M |
| Q3 2025 | 10-Q | Nov 6, 2025 | $192M | +0.3% | 13.2% | $17.4M | $52.6M |
| Q2 2025 | 10-Q | Aug 7, 2025 | $174M | -4% | 24.2% | $31.0M | $35.6M |
| Q1 2025 | 10-Q | May 8, 2025 | $171M | -0.8% | 21.9% | $25.3M | $35.1M |
Charts
Interactive views
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🔄Rotation against the market and its industry (RRG)interactive
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⚖️Fair value by methodinteractive
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🔭Outlook & guidanceinteractive
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📈Investments: gains and what it boughtinteractive
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🏭Its industry’s money flow (input-output)interactive
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Customers and suppliers named in filings
Sells to
- MCK — 24% of its revenue · Stated in 10-K (XBRL) · source
- COR — 22% of its revenue · Stated in 10-K (XBRL) · source
- CAH — 19% of its revenue · Stated in 10-K (XBRL) · source
About Amphastar Pharmaceuticals
We are a biopharmaceutical company focusing on developing, manufacturing, and commercializing technically challenging generic and proprietary injectable, inhalation, and intranasal products, as well as active pharmaceutical ingredient, or API products. We currently manufacture and sell over 25 prescription pharmaceutical products, and an over-the-counter product, Primatene MIST ® . Our largest products by net revenues currently include BAQSIMI ® glucagon nasal powder, or BAQSIMI ® , Primatene MIST ® , glucagon, epinephrine, and lidocaine.
In its own words, from its 10-K, filed Feb 26, 2026.
Amphastar Pharmaceuticals against its Pharmaceutical Preparations peers
The largest companies of the same SEC industry, each at its latest quarter. Revenue growth: +8% against the peers' median +8%. Operating margin: 24.5% against the peers' median 24.5%.
| Company | Quarter | Revenue | Y/Y | Op. margin |
|---|---|---|---|---|
| AMPH Amphastar Pharmaceuticals | Q3 2026 | $208M | +8% | 24.5% |
| JNJ Johnson & Johnson | Q3 2026 | $25.4B | +6% | 0.1% |
| LLY ELI Lilly | Q3 2026 | $24.4B | +39% | 34.5% |
| MRK Merck | Q3 2026 | $18.1B | +5% | 30.7% |
| ABBV AbbVie | Q3 2026 | $17.4B | +10% | 36.0% |
| PFE Pfizer | Q3 2026 | $16.6B | -0.4% | 20.4% |
| BMY Bristol Myers Squibb | Q3 2026 | $13.1B | +7% | 19.4% |
| ABT Abbott Laboratories | Q3 2026 | $13.0B | +14% | 10.4% |
| REGN Regeneron Pharmaceuticals | Q3 2026 | $5.1B | +36% | 40.0% |
Source: Amphastar Pharmaceuticals 10-Q on SEC EDGAR · CIK 1297184 · Pharmaceutical Preparations
Guidance and outlook
13F: who owns AMPH and who is buying
More on AMPH
- How Amphastar Pharmaceuticals makes money: revenue by segment
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- Amphastar Pharmaceuticals stock forecast, price target and fair value
- Who owns Amphastar Pharmaceuticals stock: holders, funds and Congress trades
- Amphastar Pharmaceuticals guidance and outlook
- Is Amphastar Pharmaceuticals a takeover target? LBO and rumors
History
Every quarter: Q3 2026 results · Q2 2026 results · Q1 2026 results · Q4 2025 results · Q3 2025 results · Q2 2025 results · Q1 2025 results
- Amphastar Pharmaceuticals gross margin by quarter
- Amphastar Pharmaceuticals operating margin by quarter
- Amphastar Pharmaceuticals net income by quarter
- Amphastar Pharmaceuticals free cash flow by quarter
- Amphastar Pharmaceuticals R&D spending by quarter
- Amphastar Pharmaceuticals capital expenditures by quarter