Filing Flows › ANI Pharmaceuticals (ANIP) › Q3 2026 › vs Q3 2025
ANI Pharmaceuticals (ANIP) Q3 2026 vs Q3 2025 (year over year)
ANI Pharmaceuticals's revenue rose $63.0M (+28%) from $228M in Q3 2025 to $291M in Q3 2026. The biggest changes: Rare Disease and Brands total net revenues +$53.2M (+41%); Generics and Other total net revenues +$9.7M (+10%). Operating margin 18.0% against 15.9% (+2.1 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 Q3 2025, the increases inside each band.
Margins
| Q3 2026 | Q3 2025 | Change | |
|---|---|---|---|
| Operating margin | 18.0% | 15.9% | +2.1 pts |
| Net margin | 12.1% | 11.7% | +0.4 pts |
| Free cash flow margin | 24.2% | 16.7% | +7.5 pts |
Every line
| Line | Q3 2026 | Q3 2025 | Change | % |
|---|---|---|---|---|
| Cortrophin Gel | $139M | $102M | $36.8M | +36% |
| Generic pharmaceutical products | $104M | $94.4M | $10.1M | +11% |
| ILUVIEN and YUTIQ | $22.3M | $16.6M | $5.7M | +34% |
| Brand royalties and other revenues | $11.5M | $0 | $11.5M | — |
| Brands | $10.0M | $10.7M | −$697K | -7% |
| Other generic revenues | $4.0M | $4.3M | −$338K | -8% |
| Rare Disease and Brands total net revenues | $182M | $129M | $53.2M | +41% |
| Generics and Other total net revenues | $108M | $98.7M | $9.7M | +10% |
| Revenue | $291M | $228M | $63.0M | +28% |
| Operating profit | $52.4M | $36.2M | $16.1M | +45% |
| Costs & expenses | $238M | $192M | $46.8M | +24% |
| Pre-tax earnings | $49.0M | $33.8M | $15.2M | +45% |
| Other expense, net | $3.3M | $2.4M | $892K | +37% |
| Cost of revenue | $112M | $93.4M | $18.1M | +19% |
| Research & development | $13.0M | $12.3M | $693K | +6% |
| SG&A | $94.9M | $76.7M | $18.2M | +24% |
| Other operating costs | $19.0M | $9.2M | $9.8M | +106% |
| Net earnings | $35.1M | $26.6M | $8.5M | +32% |
| Income tax | $13.9M | $7.2M | $6.7M | +93% |
| Depreciation & amortization | $19.6M | $22.6M | −$3.1M | -14% |
| Share-based compensation | $11.6M | $9.7M | $1.9M | +20% |
| Working capital & other | $17.5M | −$14.9M | $32.3M | — |
| Operating cash flow | $83.8M | $44.1M | $39.7M | +90% |
| Free cash flow (OCF − capex) | $70.3M | $38.0M | $32.3M | +85% |
| Capital expenditures | $13.5M | $6.1M | $7.4M | +121% |
Questions
How much did ANI Pharmaceuticals's revenue grow year over year in Q3 2026?
ANI Pharmaceuticals's revenue rose $63.0M (+28%) from $228M in Q3 2025 to $291M in Q3 2026.
What drove ANI Pharmaceuticals's revenue change in Q3 2026?
Rare Disease and Brands total net revenues +$53.2M (+41%); Generics and Other total net revenues +$9.7M (+10%).