Filing Flows › Axsome Therapeutics (AXSM) › Q2 2026
Axsome Therapeutics (AXSM) Q2 2026 earnings results (second quarter 2026)
10-Q filed Aug 10, 2026
Axsome Therapeutics (AXSM) reported revenue of $218M for the second quarter 2026 (Q2 2026), +46% from a year earlier and +14% from the quarter before. Operating margin was -22.7%, net loss $51.3M (23.5% of revenue).
Axsome Therapeutics, Q2 2026: revenue $218M (+46% year over year), operating margin -22.7%, net loss $51.3M, operating cash flow −$33.0M. The chart follows the revenue to costs, profit and cash.
| Q2 2026 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $218M | +14% | +46% |
| Operating profit | −$49.6M | — | — |
| Net earnings | −$51.3M | — | — |
| Operating cash flow | −$33.0M | — | — |
What changed
Revenue was $218.4M in Q2 2026, up 46% year over year and up 14% from the previous quarter. Product was the largest line at 99% of revenue. Product added $67.4M year over year (up 45%), 99% of the total change.
Operating costs exceeded revenue by $49.6M, an operating margin of -22.7%. Total costs grew 44% against revenue growth of 46%. The quarter ended with a net loss of $51.3M, narrower than the previous quarter's $64.5M loss.
Operating cash flow was −$33.0M. Non-cash charges added back $1.7M of depreciation and amortization and $27.1M of share-based compensation. Working capital and other items used $10.5M. Capital expenditures of $450K exceeded it, leaving free cash flow of −$33.4M.
Questions
What was Axsome Therapeutics' revenue in the second quarter 2026?
Axsome Therapeutics (AXSM) reported revenue of $218M for the second quarter 2026 (Q2 2026), +46% from a year earlier and +14% from the quarter before.
Was Axsome Therapeutics profitable in the second quarter 2026?
Operating loss was $49.6M (-22.7% of revenue) and net loss $51.3M.