Filing Flows › Elite Pharmaceuticals (ELTP) › Q2 FY26
Elite Pharmaceuticals (ELTP) Q2 FY26 earnings results (second quarter fiscal 2026)
10-Q filed Nov 14, 2025
Elite Pharmaceuticals (ELTP) reported revenue of $36.3M for the second quarter fiscal 2026 (Q2 FY26), +92% from a year earlier and -10% from the quarter before. Operating margin was 22.6%, net earnings $13.7M (37.7% of revenue).
Elite Pharmaceuticals, Q2 FY26: revenue $36.3M (+92% year over year), operating margin 22.6%, net earnings $13.7M, operating cash flow $5.1M. The chart follows the revenue to costs, profit and cash.
| Q2 FY26 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $36.3M | -10% | +92% |
| Gross profit | $14.1M | -48% | +72% |
| Operating profit | $8.2M | -62% | +136% |
| Net earnings | $13.7M | — | — |
| Operating cash flow | $5.1M | -65% | +250% |
| Free cash flow | $5.0M | -66% | +267% |
What changed
Revenue was $36.3M in Q2 FY26, up 92% year over year and down 10% from the previous quarter. Manufacturing was the largest line at 100% of revenue. Manufacturing added $18.0M year over year (up 99%), 103% of the total change. Licensing declined 81%.
Gross margin was 38.7%, down 4.7 points from a year earlier. Operating profit was $8.2M, a 22.6% margin (up 4.2 points year over year). Of the extra revenue versus a year earlier, 27% reached operating profit, above the 18% margin then. Operating expenses grew 24% against revenue growth of 92%. The fastest-growing cost line was General & admin (+77%). Net earnings were $13.7M. The effective tax rate was 12.7%. Non-operating items added $7.5M, 48% of pre-tax earnings, so the bottom line overstates operating performance.
Operating cash flow was $5.1M (up 250% year over year), 37% of net earnings. Non-cash charges added back $275K of depreciation and amortization and $50K of share-based compensation. Working capital and other items used $8.9M. Capital expenditures of $103K left free cash flow of $5.0M.
Questions
What was Elite Pharmaceuticals' revenue in the second quarter fiscal 2026?
Elite Pharmaceuticals (ELTP) reported revenue of $36.3M for the second quarter fiscal 2026 (Q2 FY26), +92% from a year earlier and -10% from the quarter before.
Was Elite Pharmaceuticals profitable in the second quarter fiscal 2026?
Operating profit was $8.2M (22.6% of revenue) and net earnings $13.7M.