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Mannkind (MNKD) earnings and revenue breakdown
Latest: Q3 2026 · 10-Q filed Nov 5, 2026 · Mannkind (MNKD) Q3 2026 earnings results →
Q3 2026 Revenue up 24% year over year to $102M · 23¢ of every $1 of revenue lost · operating margin -2.1%
Mannkind made $102M in Q3 2026 (+24% Y/Y): Product $45.0M, Royalty $37.5M, License and Service $19.4M. Operating margin -2.1%, net loss $23.2M. See where every dollar goes — costs, profit and cash — as a Sankey from the 10-Q filed Nov 5, 2026.
Drawing the Sankey…
Open the interactive Sankey → click any line for what the company wrote about it, compare Y/Y and Q/Q, export as PNG or PDF
What changed this quarter
Revenue was $101.9M in Q3 2026, up 24% year over year and down 7% from the previous quarter. Product was the largest line at 44% of revenue. Product added $22.7M year over year (up 102%), 115% of the total change. License and Service declined 27%.
Operating costs exceeded revenue by $2.2M, an operating margin of -2.1%. Total costs grew 65% against revenue growth of 24%. The fastest-growing cost line was Cost of revenue (+149%). The quarter ended with a net loss of $23.2M, wider than the previous quarter's $19.0M loss. Net interest and other expense of $21.0M was the main reason.
Operating cash flow was −$34.5M. Non-cash charges added back $7.2M of depreciation and amortization and $6.4M of share-based compensation. Working capital and other items used $25.0M. Capital expenditures of $3.2M exceeded it, leaving free cash flow of −$37.8M.
Quarterly history
| Quarter | Form | Filed | Revenue | Y/Y | Op. margin | Net earnings | Op. cash flow |
|---|---|---|---|---|---|---|---|
| Q3 2026 | 10-Q | Nov 5, 2026 | $102M | +24% | -2.1% | −$23.2M | −$34.5M |
| Q2 2026 | 10-Q | Aug 5, 2026 | $109M | +43% | -0.3% | −$19.0M | −$18.4M |
| Q1 2026 | 10-Q | May 6, 2026 | $90.2M | +15% | -1.8% | −$16.6M | −$5.4M |
| Q4 2025 | 10-K | Feb 26, 2026 | $112M | +46% | -6.9% | −$15.9M | −$8.0M |
| Q3 2025 | 10-Q | Nov 5, 2025 | $82.1M | +17% | 23.0% | $8.0M | $23.6M |
| Q2 2025 | 10-Q | Aug 6, 2025 | $76.5M | +6% | 6.9% | $668K | $8.9M |
| Q1 2025 | 10-Q | May 8, 2025 | $78.4M | +18% | 28.5% | $13.2M | −$6.4M |
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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⚖️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 Mannkind
MannKind Corporation (Nasdaq: MNKD) is a biopharmaceutical company dedicated to transforming chronic disease care through innovative, patient-centric solutions. Focused on cardiometabolic and orphan lung diseases, we develop and commercialize treatments that address serious unmet medical needs, including diabetes, pulmonary hypertension, and fluid overload in heart failure and chronic kidney disease. With deep expertise in drug-device combinations, MannKind aims to deliver therapies designed to fit seamlessly into daily life.
In its own words, from its 8-K, filed Aug 5, 2026.
Mannkind against its Pharmaceutical Preparations peers
The largest companies of the same SEC industry, each at its latest quarter. Revenue growth: +24% against the peers' median +10%. Operating margin: -2.1% against the peers' median 20.4%.
| Company | Quarter | Revenue | Y/Y | Op. margin |
|---|---|---|---|---|
| MNKD Mannkind | Q3 2026 | $102M | +24% | -2.1% |
| 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: Mannkind 10-Q on SEC EDGAR · CIK 899460 · Pharmaceutical Preparations
Guidance and outlook
13F: who owns MNKD and who is buying
More on MNKD
- How Mannkind makes money: revenue by segment
- Mannkind next earnings date and what analysts expect
- Mannkind stock forecast, price target and fair value
- Who owns Mannkind stock: holders, funds and Congress trades
- Mannkind guidance and outlook
- Is Mannkind a takeover target? LBO and rumors
- Mannkind recalls, complaints and regulation
History
Every quarter: Q3 2026 results · Q2 2026 results · Q1 2026 results · Q4 2025 results · Q3 2025 results · Q2 2025 results · Q1 2025 results