Filing Flows › ANI Pharmaceuticals (ANIP) › Q3 2026 › vs Q2 2026
ANI Pharmaceuticals (ANIP) Q3 2026 vs Q2 2026 (quarter over quarter)
ANI Pharmaceuticals's revenue rose $24.7M (+9%) from $266M in Q2 2026 to $291M in Q3 2026. The biggest changes: Rare Disease and Brands total net revenues +$17.0M (+10%); Generics and Other total net revenues +$7.8M (+8%). Operating margin 18.0% against 15.2% (+2.8 pts).
ANI Pharmaceuticals, Q3 2026: revenue $291M (+28% year over year), operating margin 18.0%, net earnings $35.1M, operating cash flow $83.8M. The chart draws each line against Q2 2026, the increases inside each band.
Margins
| Q3 2026 | Q2 2026 | Change | |
|---|---|---|---|
| Operating margin | 18.0% | 15.2% | +2.8 pts |
| Net margin | 12.1% | 9.3% | +2.8 pts |
| Free cash flow margin | 24.2% | 20.2% | +4.0 pts |
Every line
| Line | Q3 2026 | Q2 2026 | Change | % |
|---|---|---|---|---|
| Cortrophin Gel | $139M | $117M | $21.5M | +18% |
| Generic pharmaceutical products | $104M | $99.1M | $5.4M | +5% |
| ILUVIEN and YUTIQ | $22.3M | $18.7M | $3.5M | +19% |
| Brand royalties and other revenues | $11.5M | $17.7M | −$6.3M | -35% |
| Brands | $10.0M | $11.8M | −$1.8M | -16% |
| Other generic revenues | $4.0M | $1.6M | $2.4M | +148% |
| Rare Disease and Brands total net revenues | $182M | $165M | $17.0M | +10% |
| Generics and Other total net revenues | $108M | $101M | $7.8M | +8% |
| Revenue | $291M | $266M | $24.7M | +9% |
| Operating profit | $52.4M | $40.5M | $11.9M | +29% |
| Costs & expenses | $238M | $226M | $12.8M | +6% |
| Pre-tax earnings | $49.0M | $37.1M | $11.9M | +32% |
| Other expense, net | $3.3M | $3.4M | −$31K | -0.9% |
| Cost of revenue | $112M | $100M | $11.4M | +11% |
| Research & development | $13.0M | $14.7M | −$1.8M | -12% |
| SG&A | $94.9M | $91.7M | $3.2M | +3% |
| Other operating costs | $19.0M | $19.0M | −$4K | 0% |
| Net earnings | $35.1M | $24.7M | $10.4M | +42% |
| Income tax | $13.9M | $12.4M | $1.5M | +12% |
| Depreciation & amortization | $19.6M | $19.6M | −$88K | -0.4% |
| Share-based compensation | $11.6M | $11.4M | $225K | +2% |
| Working capital & other | $17.5M | $912K | $16.5M | 19× |
| Operating cash flow | $83.8M | $56.7M | $27.1M | +48% |
| Free cash flow (OCF − capex) | $70.3M | $53.6M | $16.7M | +31% |
| Capital expenditures | $13.5M | $3.1M | $10.4M | +342% |
Questions
How much did ANI Pharmaceuticals's revenue grow quarter over quarter in Q3 2026?
ANI Pharmaceuticals's revenue rose $24.7M (+9%) from $266M in Q2 2026 to $291M in Q3 2026.
What drove ANI Pharmaceuticals's revenue change in Q3 2026?
Rare Disease and Brands total net revenues +$17.0M (+10%); Generics and Other total net revenues +$7.8M (+8%).