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IGC Pharma (IGC) earnings and revenue breakdown
Latest: Q3 2026 · 10-Q filed Nov 6, 2026 · IGC Pharma (IGC) Q3 2026 earnings results →
Q3 2026 Revenue up 72% year over year to $328K · 624¢ of every $1 of revenue lost · operating margin -588.7%
IGC Pharma made $328K in Q3 2026 (+72% Y/Y): White Labeling Services $321K, Wellness and Lifestyle $7K. Operating margin -588.7%, net loss $2.0M. See where every dollar goes — costs, profit and cash — as a Sankey from the 10-Q filed Nov 6, 2026.
Drawing the Sankey…
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What changed this quarter
Revenue was $328K in Q3 2026, up 72% year over year and up 24% from the previous quarter. White Labeling Services was the largest line at 98% of revenue. White Labeling Services added $168K year over year (up 110%), 123% of the total change. Wellness and Lifestyle declined 82%.
Gross margin was 18.6%, down 33.2 points from Q3 2025. Operating costs exceeded revenue by $1.9M, an operating margin of -588.7%. Operating expenses fell 34% while revenue rose 72%. The quarter ended with a net loss of $2.0M, narrower than the previous quarter's $2.9M loss.
Operating cash flow was −$1.4M. Non-cash charges added back $58K of depreciation and amortization. Working capital and other items added $571K.
Quarterly history
| Quarter | Form | Filed | Revenue | Y/Y | Op. margin | Net earnings | Op. cash flow |
|---|---|---|---|---|---|---|---|
| Q3 2026 | 10-Q | Nov 6, 2026 | $328K | +72% | -588.7% | −$2.0M | −$1.4M |
| Q2 2026 | 10-Q | Aug 14, 2026 | $265K | -19% | n/m | −$2.9M | −$1.4M |
| Q1 2026 | 10-Q | May 15, 2026 | $317K | -4% | -775.4% | −$2.4M | −$1.2M |
| Q3 2025 | 10-Q | Nov 14, 2025 | $191K | -54% | n/m | −$1.8M | −$2.1M |
| Q2 2025 | 10-Q | Aug 14, 2025 | $328K | +21% | -580.8% | −$1.6M | −$1.4M |
| Q1 2025 | 10-K | Jun 27, 2025 | $330K | +12% | -428.2% | −$1.2M | −$730K |
| Q4 2024 | 10-Q | Feb 14, 2025 | $257K | +26% | -730.7% | −$1.8M | −$1.3M |
Charts
Interactive views
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💵Where each $1 goesinteractive
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🌏Named in Asian annual reportsinteractive
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🔄Rotation against the market and its industry (RRG)interactive
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🔍Earnings qualityinteractive
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⚖️Fair value by methodinteractive
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🔭Outlook & guidanceinteractive
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📈Investments: gains and what it boughtinteractive
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🏭Its industry’s money flow (input-output)interactive
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About IGC Pharma
IGC is a Maryland corporation established in 2005 with a fiscal year ending on March 31, spanning a 52- or 53-week period. Please refer to Note 1, “Nature of Operations” and Item 8 of this Annual Report on Form 10-K, for further information on business segments. Our mission is to improve the lives of individuals affected by Alzheimer’s disease by addressing both its symptoms and the disease. Our near-term focus is on advancing IGC-AD1, our lead drug candidate currently in Phase 2 clinical trials targeting agitation in Alzheimer’s patients. We are also investing in our early-stage pipeline of investigational therapies and exploring Artificial Intelligence (AI) powered models designed to identify early markers of Alzheimer’s.
In its own words, from its 10-K, filed Jun 27, 2025.
IGC Pharma against its Pharmaceutical Preparations peers
The largest companies of the same SEC industry, each at its latest quarter. Revenue growth: +72% against the peers' median +10%. Operating margin: -588.7% against the peers' median 20.4%.
| Company | Quarter | Revenue | Y/Y | Op. margin |
|---|---|---|---|---|
| IGC IGC Pharma | Q3 2026 | $328K | +72% | -588.7% |
| 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: IGC Pharma 10-Q on SEC EDGAR · CIK 1326205 · Pharmaceutical Preparations
Guidance and outlook
13F: who owns IGC and who is buying
More on IGC
History
Every quarter: Q3 2026 results · Q2 2026 results · Q1 2026 results · Q3 2025 results · Q2 2025 results · Q1 2025 results · Q4 2024 results