Filing Flows › Eton Pharmaceuticals (ETON) › Q3 2026
Eton Pharmaceuticals (ETON) Q3 2026 earnings results (third quarter 2026)
10-Q filed Nov 5, 2026
Eton Pharmaceuticals (ETON) reported revenue of $57.9M for the third quarter 2026 (Q3 2026), +158% from a year earlier and +54% from the quarter before. Operating margin was 39.7%, net earnings $35.2M (60.9% of revenue).
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 follows the revenue to costs, profit and cash.
| Q3 2026 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $57.9M | +54% | +158% |
| Gross profit | $44.3M | +74% | +464% |
| Operating profit | $23.0M | +80% | — |
| Net earnings | $35.2M | +204% | — |
| Operating cash flow | $35.2M | +386% | +193% |
| Free cash flow | $35.2M | +385% | +200% |
What changed
Revenue was $57.9M in Q3 2026, up 158% year over year and up 54% from the previous quarter.
Gross margin was 76.5%, up 41.5 points from Q3 2025. Operating profit was $23.0M, a 39.7% margin (up 45.8 points year over year). Operating expenses grew 131% against revenue growth of 158%. The fastest-growing cost line was Research & development (+374%). Net earnings were $35.2M. The effective tax rate was -57.7%.
Operating cash flow was $35.2M (up 193% year over year), 100% of net earnings. Non-cash charges added back $1.4M of depreciation and amortization and $3.3M of share-based compensation. Working capital and other items used $4.8M. Capital expenditures of $13K left free cash flow of $35.2M.
Questions
What was Eton Pharmaceuticals' revenue in the third quarter 2026?
Eton Pharmaceuticals (ETON) reported revenue of $57.9M for the third quarter 2026 (Q3 2026), +158% from a year earlier and +54% from the quarter before.
Was Eton Pharmaceuticals profitable in the third quarter 2026?
Operating profit was $23.0M (39.7% of revenue) and net earnings $35.2M.