Filing Flows › Eton Pharmaceuticals (ETON) › Q1 2026
Eton Pharmaceuticals (ETON) Q1 2026 earnings results (first quarter 2026)
10-Q filed May 14, 2026
Eton Pharmaceuticals (ETON) reported revenue of $24.3M for the first quarter 2026 (Q1 2026), +40% from a year earlier and +14% from the quarter before. Operating margin was 9.9%, net earnings $1.6M (6.4% of revenue).
Eton Pharmaceuticals, Q1 2026: revenue $24.3M (+40% year over year), operating margin 9.9%, net earnings $1.6M, operating cash flow $7.4M. The chart follows the revenue to costs, profit and cash.
| Q1 2026 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $24.3M | +14% | +40% |
| Gross profit | $14.7M | +12% | +49% |
| Operating profit | $2.4M | -2% | — |
| Net earnings | $1.6M | +5% | — |
| Operating cash flow | $7.4M | — | +254% |
| Free cash flow | $7.3M | — | +251% |
What changed
Revenue was $24.3M in Q1 2026, up 40% year over year and up 14% from the previous quarter.
Gross margin was 60.7%, up 3.7 points from Q1 2025. Operating profit was $2.4M, a 9.9% margin (up 12.7 points year over year). Operating expenses grew 19% against revenue growth of 40%. The fastest-growing cost line was Research & development (+61%). Net earnings were $1.6M. The effective tax rate was 1.3%.
Operating cash flow was $7.4M (up 254% year over year), 477% of net earnings. Non-cash charges added back $1.1M of depreciation and amortization and $1.5M of share-based compensation. Working capital and other items added $3.2M. Capital expenditures of $75K left free cash flow of $7.3M.
Questions
What was Eton Pharmaceuticals' revenue in the first quarter 2026?
Eton Pharmaceuticals (ETON) reported revenue of $24.3M for the first quarter 2026 (Q1 2026), +40% from a year earlier and +14% from the quarter before.
Was Eton Pharmaceuticals profitable in the first quarter 2026?
Operating profit was $2.4M (9.9% of revenue) and net earnings $1.6M.