Filing Flows › ANI Pharmaceuticals (ANIP) › Q1 2026
ANI Pharmaceuticals (ANIP) Q1 2026 earnings results (first quarter 2026)
10-Q filed May 8, 2026
ANI Pharmaceuticals (ANIP) reported revenue of $237M for the first quarter 2026 (Q1 2026), +20% from a year earlier and -4% from the quarter before. Operating margin was 16.4%, net earnings $29.5M (12.4% of revenue).
ANI Pharmaceuticals, Q1 2026: revenue $237M (+20% year over year), operating margin 16.4%, net earnings $29.5M, operating cash flow $58.4M. The chart follows the revenue to costs, profit and cash.
| Q1 2026 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $237M | -4% | +20% |
| Operating profit | $38.9M | +12% | +48% |
| Net earnings | $29.5M | +7% | +88% |
| Operating cash flow | $58.4M | +92% | +67% |
| Free cash flow | $52.3M | +80% | +61% |
What changed
Revenue was $237.5M in Q1 2026, up 20% year over year and down 4% from the previous quarter. Generic pharmaceutical products was the largest line at 44% of revenue. Cortrophin Gel added $22.3M year over year (up 42%), 55% of the total change. Brands declined 51%.
Operating profit was $38.9M, a 16.4% margin (up 3.1 points year over year). Of the extra revenue versus Q1 2025, 31% reached operating profit, above the 13% margin then. Total costs grew 16% against revenue growth of 20%. The fastest-growing cost line was Other operating costs (+92%). Net earnings were $29.5M, up 88% year over year. The effective tax rate was 26.7%.
Operating cash flow was $58.4M (up 67% year over year), 198% of net earnings. Non-cash charges added back $20.9M of depreciation and amortization and $10.2M of share-based compensation. Capital expenditures of $6.1M left free cash flow of $52.3M.
Questions
What was ANI Pharmaceuticals' revenue in the first quarter 2026?
ANI Pharmaceuticals (ANIP) reported revenue of $237M for the first quarter 2026 (Q1 2026), +20% from a year earlier and -4% from the quarter before.
Was ANI Pharmaceuticals profitable in the first quarter 2026?
Operating profit was $38.9M (16.4% of revenue) and net earnings $29.5M.