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How ANI Pharmaceuticals (ANIP) makes money
ANI Pharmaceuticals (ANIP) made $291M of revenue in the third quarter 2026 (Q3 2026), +28% from a year earlier. Rare Disease and Brands total net revenues brought in $182M (63%); Generics and Other total net revenues brought in $108M (37%). Of every dollar of revenue, 18¢ was left as operating profit, 12¢ was left as net earnings.
Drawing the Sankey…
Revenue by segment, Q3 2026
| Segment | Revenue | Share | Q/Q | Y/Y |
|---|---|---|---|---|
| Rare Disease and Brands total net revenues | $182M | 62.7% | +10% | +41% |
| ↳ Cortrophin Gel | $139M | 47.7% | +18% | +36% |
| ↳ ILUVIEN and YUTIQ | $22.3M | 7.7% | +19% | +34% |
| ↳ Brand royalties and other revenues | $11.5M | 3.9% | -35% | — |
| ↳ Brands | $10.0M | 3.4% | -16% | -7% |
| Generics and Other total net revenues | $108M | 37.3% | +8% | +10% |
| ↳ Generic pharmaceutical products | $104M | 35.9% | +5% | +11% |
| ↳ Other generic revenues | $4.0M | 1.4% | +148% | -8% |
Where each dollar of revenue goes
| Line | Q3 2026 | % of revenue |
|---|---|---|
| Revenue | $291M | 100.0% |
| Operating profit | $52.4M | 18.0% |
| Income tax | $13.9M | 4.8% |
| Net earnings | $35.1M | 12.1% |
| Operating cash flow | $83.8M | 28.8% |
| Free cash flow | $70.3M | 24.2% |
Revenue, quarter by quarter
| Quarter | Revenue | Y/Y |
|---|---|---|
| Q3 2026 | $291M | +28% |
| Q2 2026 | $266M | +26% |
| Q1 2026 | $237M | +20% |
| Q4 2025 | $247M | +30% |
| Q3 2025 | $228M | +54% |
| Q2 2025 | $211M | +53% |
| Q1 2025 | $197M | +43% |
From ANI Pharmaceuticals' 10-Q filed Nov 5, 2026 (on EDGAR).
Questions
How does ANI Pharmaceuticals make money?
ANI Pharmaceuticals (ANIP) made $291M of revenue in the third quarter 2026 (Q3 2026), +28% from a year earlier. Rare Disease and Brands total net revenues brought in $182M (63%); Generics and Other total net revenues brought in $108M (37%). Of every dollar of revenue, 18¢ was left as operating profit, 12¢ was left as net earnings.
What is ANI Pharmaceuticals' biggest business?
Rare Disease and Brands total net revenues: $182M in the third quarter 2026, 63% of revenue, +41% from a year earlier.
What is ANI Pharmaceuticals' profit margin?
Net earnings were $35.1M, 12.1% of revenue, in the third quarter 2026; the operating margin was 18.0%.
Updated Nov 8, 2026. Read automatically from SEC filings and public data; errors are possible. Not investment advice.