Filing Flows › Amphastar Pharmaceuticals (AMPH) › Q1 2026
Amphastar Pharmaceuticals (AMPH) Q1 2026 earnings results (first quarter 2026)
10-Q filed May 7, 2026
Amphastar Pharmaceuticals (AMPH) reported revenue of $171M for the first quarter 2026 (Q1 2026), +0.4% from a year earlier and -7% from the quarter before. Operating margin was 8.0%, net earnings $6.4M (3.8% of revenue).
Amphastar Pharmaceuticals, Q1 2026: revenue $171M (+0.4% year over year), operating margin 8.0%, net earnings $6.4M, operating cash flow $47.8M. The chart follows the revenue to costs, profit and cash.
| Q1 2026 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $171M | -7% | +0.4% |
| Gross profit | $70.3M | -18% | -18% |
| Operating profit | $13.6M | -62% | -63% |
| Net earnings | $6.4M | -74% | -75% |
| Operating cash flow | $47.8M | +46% | +36% |
| Free cash flow | $38.3M | +56% | +57% |
What changed
Revenue was $171.2M in Q1 2026, roughly flat year over year and down 7% from the previous quarter.
Gross margin was 41.1%, down 8.9 points from Q1 2025. Operating profit was $13.6M, a 8.0% margin (down 13.9 points year over year). Operating profit fell $23.7M even though revenue rose $643K versus Q1 2025, so costs grew faster than sales. Operating expenses grew 18% against flat revenue. The fastest-growing cost line was Research & development (+33%). Net earnings were $6.4M, down 75% year over year. The effective tax rate was 36.1%.
Operating cash flow was $47.8M (up 36% year over year), 745% of net earnings. Non-cash charges added back $14.3M of depreciation and amortization and $9.3M of share-based compensation. Working capital and other items added $17.8M. Capital expenditures of $9.5M left free cash flow of $38.3M.
Questions
What was Amphastar Pharmaceuticals' revenue in the first quarter 2026?
Amphastar Pharmaceuticals (AMPH) reported revenue of $171M for the first quarter 2026 (Q1 2026), +0.4% from a year earlier and -7% from the quarter before.
Was Amphastar Pharmaceuticals profitable in the first quarter 2026?
Operating profit was $13.6M (8.0% of revenue) and net earnings $6.4M.