Filing Flows › Eton Pharmaceuticals (ETON) › Q3 2026 › vs Q3 2025
Eton Pharmaceuticals (ETON) Q3 2026 vs Q3 2025 (year over year)
Eton Pharmaceuticals's revenue rose $35.5M (+158%) from $22.5M in Q3 2025 to $57.9M in Q3 2026. Gross margin 76.5% against 35.0% (+41.5 pts).
Eton Pharmaceuticals, Q3 2026: revenue $57.9M (+158% year over year), operating margin 39.7%, net earnings $35.2M, operating cash flow $35.2M. The chart draws each line against Q3 2025, the increases inside each band.
Margins
| Q3 2026 | Q3 2025 | Change | |
|---|---|---|---|
| Gross margin | 76.5% | 35.0% | +41.5 pts |
| Operating margin | 39.7% | -6.1% | +45.8 pts |
| Net margin | 60.9% | -8.6% | +69.4 pts |
| Free cash flow margin | 60.8% | 52.3% | +8.5 pts |
Every line
| Line | Q3 2026 | Q3 2025 | Change | % |
|---|---|---|---|---|
| Revenue | $57.9M | $22.5M | $35.5M | +158% |
| Gross profit | $44.3M | $7.9M | $36.4M | +464% |
| Cost of revenue | $13.6M | $14.6M | −$980K | -7% |
| Operating profit | $23.0M | −$1.4M | $24.4M | — |
| Operating expenses | $21.3M | $9.2M | $12.1M | +131% |
| Pre-tax earnings | $22.4M | −$2.0M | $24.3M | — |
| Other expense, net | $656K | $592K | $64K | +11% |
| Research & development | $5.3M | $1.1M | $4.2M | +374% |
| General & admin | $16.0M | $8.1M | $7.9M | +98% |
| Income tax benefit | $12.9M | $28K | $12.9M | 460× |
| Net earnings | $35.2M | −$1.9M | $37.2M | — |
| Depreciation & amortization | $1.4M | $1.0M | $435K | +43% |
| Share-based compensation | $3.3M | $1.1M | $2.2M | +203% |
| Working capital & other | $4.8M | −$11.9M | $16.6M | — |
| Operating cash flow | $35.2M | $12.0M | $23.2M | +193% |
| Free cash flow (OCF − capex) | $35.2M | $11.7M | $23.5M | +200% |
| Capital expenditures | $13K | $284K | −$271K | -95% |
Questions
How much did Eton Pharmaceuticals's revenue grow year over year in Q3 2026?
Eton Pharmaceuticals's revenue rose $35.5M (+158%) from $22.5M in Q3 2025 to $57.9M in Q3 2026. Gross margin 76.5% against 35.0% (+41.5 pts).