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Corcept Therapeutics (CORT) earnings and revenue breakdown
Latest: Q3 2026 · 10-Q filed Nov 3, 2026 · Corcept Therapeutics (CORT) Q3 2026 earnings results →
Q3 2026 Revenue up 64% year over year to $340M · 37¢ of every $1 of revenue kept as net profit · operating margin 33.7%
Corcept Therapeutics made $340M in Q3 2026 (+64% Y/Y): Hypercortisolism Products $249M, Lifyorli $91.4M. Operating margin 33.7%, net earnings $127M. See where every dollar goes — costs, profit and cash — as a Sankey from the 10-Q filed Nov 3, 2026.
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What changed this quarter
Revenue was $340.5M in Q3 2026, up 64% year over year and up 33% from the previous quarter. Hypercortisolism Products was the largest line at 73% of revenue. Hypercortisolism Products added $41.4M year over year (up 20%), 31% of the total change.
Operating profit was $114.7M, a 33.7% margin (up 28.8 points year over year). Of the extra revenue versus Q3 2025, 79% reached operating profit, above the 5% margin then. Total costs grew 14% against revenue growth of 64%. The fastest-growing cost line was SG&A (+33%). Net earnings were $126.8M, up 545% year over year. The effective tax rate was -5.4%.
Operating cash flow was $142.9M (up 162% year over year), 113% of net earnings. Non-cash charges added back $1.0M of depreciation and amortization and $29.4M of share-based compensation. Working capital and other items used $14.4M. Capital expenditures of $709K left free cash flow of $142.2M.
Quarterly history
| Quarter | Form | Filed | Revenue | Y/Y | Op. margin | Net earnings | Op. cash flow |
|---|---|---|---|---|---|---|---|
| Q3 2026 | 10-Q | Nov 3, 2026 | $340M | +64% | 33.7% | $127M | $143M |
| Q2 2026 | 10-Q | Jul 29, 2026 | $256M | +32% | 16.1% | $43.0M | $33.5M |
| Q1 2026 | 10-Q | Apr 30, 2026 | $165M | +5% | -30.1% | −$31.8M | −$16.8M |
| Q4 2025 | 10-K | Feb 24, 2026 | $202M | +11% | 2.2% | $24.3M | $38.4M |
| Q3 2025 | 10-Q | Nov 4, 2025 | $208M | +14% | 4.9% | $19.7M | $54.5M |
| Q2 2025 | 10-Q | Jul 31, 2025 | $194M | +19% | 13.7% | $35.1M | $43.9M |
| Q1 2025 | 10-Q | May 5, 2025 | $157M | +7% | 2.2% | $20.5M | $5.1M |
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About Corcept Therapeutics
We are a commercial-stage company engaged in the discovery and development of medications to treat severe endocrinologic, oncologic, metabolic and neurologic disorders by modulating the effects of the hormone cortisol. Cortisol plays a significant role in the body’s response to stress and is essential for survival. Cortisol influences metabolism and the immune system and contributes to emotional stability. Cortisol levels follow a diurnal rhythm that is essential to health, peaking upon awakening and decreasing during the day. Insufficient cortisol activity may lead to dehydration, hypotension, shock, fatigue and hypoglycemia. Excessive cortisol activity, known as hypercortisolism, may lead to hypertension, diabetes, impaired glucose tolerance, obesity, fatty liver disease, depressed mood, psychosis, wasting of the arms and legs, edema, fatigue, insomnia and other problems.
In its own words, from its 10-K, filed Feb 24, 2026.
Corcept Therapeutics against its Pharmaceutical Preparations peers
The largest companies of the same SEC industry, each at its latest quarter. Revenue growth: +64% against the peers' median +10%. Operating margin: 33.7% against the peers' median 30.7%.
| Company | Quarter | Revenue | Y/Y | Op. margin |
|---|---|---|---|---|
| CORT Corcept Therapeutics | Q3 2026 | $340M | +64% | 33.7% |
| JNJ Johnson & Johnson | Q3 2026 | $25.4B | +6% | 0.1% |
| LLY ELI Lilly | Q3 2026 | $24.4B | +39% | 34.5% |
| MRK Merck | Q3 2026 | $18.1B | +5% | 30.7% |
| ABBV AbbVie | Q3 2026 | $17.4B | +10% | 36.0% |
| PFE Pfizer | Q3 2026 | $16.6B | -0.4% | 20.4% |
| BMY Bristol Myers Squibb | Q3 2026 | $13.1B | +7% | 19.4% |
| ABT Abbott Laboratories | Q3 2026 | $13.0B | +14% | 10.4% |
| REGN Regeneron Pharmaceuticals | Q3 2026 | $5.1B | +36% | 40.0% |
Source: Corcept Therapeutics 10-Q on SEC EDGAR · CIK 1088856 · Pharmaceutical Preparations
Guidance and outlook
13F: who owns CORT and who is buying
More on CORT
- How Corcept Therapeutics makes money: revenue by segment
- Corcept Therapeutics next earnings date and what analysts expect
- Corcept Therapeutics stock forecast, price target and fair value
- Who owns Corcept Therapeutics stock: holders, funds and Congress trades
- Corcept Therapeutics guidance and outlook
- Is Corcept Therapeutics a takeover target? LBO and rumors
- Corcept Therapeutics recalls, complaints and regulation
History
Every quarter: Q3 2026 results · Q2 2026 results · Q1 2026 results · Q4 2025 results · Q3 2025 results · Q2 2025 results · Q1 2025 results