Filing Flows › Madrigal Pharmaceuticals (MDGL) › Q3 2026 › vs Q2 2026
Madrigal Pharmaceuticals (MDGL) Q3 2026 vs Q2 2026 (quarter over quarter)
Madrigal Pharmaceuticals's revenue rose $67.0M (+18%) from $364M in Q2 2026 to $431M in Q3 2026. Operating margin 13.0% against -15.5% (+28.4 pts).
Madrigal Pharmaceuticals, Q3 2026: revenue $431M (+50% year over year), operating margin 13.0%, net earnings $55.4M, operating cash flow $121M. The chart draws each line against Q2 2026, the increases inside each band.
Margins
| Q3 2026 | Q2 2026 | Change | |
|---|---|---|---|
| Operating margin | 13.0% | -15.5% | +28.4 pts |
| Net margin | 12.9% | -15.9% | +28.8 pts |
| Free cash flow margin | 27.0% | 5.2% | +21.8 pts |
Every line
| Line | Q3 2026 | Q2 2026 | Change | % |
|---|---|---|---|---|
| Revenue | $431M | $364M | $67.0M | +18% |
| Operating profit | $56.0M | −$56.3M | $112M | — |
| Costs & expenses | $375M | $421M | −$45.3M | -11% |
| Pre-tax earnings | $55.4M | −$57.9M | $113M | — |
| Research & development | $71.8M | $91.2M | −$19.4M | -21% |
| SG&A | $266M | $289M | −$23.7M | -8% |
| Other operating costs | $37.8M | $40.0M | −$2.2M | -5% |
| Net earnings | $55.4M | −$57.9M | $113M | — |
| Depreciation & amortization | $391K | $381K | $10K | +3% |
| Share-based compensation | $38.9M | $35.4M | $3.6M | +10% |
| Working capital & other | $25.8M | $45.5M | −$19.7M | -43% |
| Operating cash flow | $121M | $23.3M | $97.2M | +417% |
| Free cash flow (OCF − capex) | $117M | $19.1M | $97.6M | +511% |
| Capital expenditures | $3.9M | $4.3M | −$325K | -8% |
Questions
How much did Madrigal Pharmaceuticals's revenue grow quarter over quarter in Q3 2026?
Madrigal Pharmaceuticals's revenue rose $67.0M (+18%) from $364M in Q2 2026 to $431M in Q3 2026. Operating margin 13.0% against -15.5% (+28.4 pts).