Filing Flows › Nektar Therapeutics (NKTR) › Q1 2026
Nektar Therapeutics (NKTR) Q1 2026 earnings results (first quarter 2026)
10-Q filed May 8, 2026
Nektar Therapeutics (NKTR) reported revenue of $10.9M for the first quarter 2026 (Q1 2026), +4% from a year earlier and -50% from the quarter before. Operating margin was -359.6%, net loss $44.9M (413.4% of revenue).
Nektar Therapeutics, Q1 2026: revenue $10.9M (+4% year over year), operating margin -359.6%, net loss $44.9M, operating cash flow −$44.3M. The chart follows the revenue to costs, profit and cash.
| Q1 2026 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $10.9M | -50% | +4% |
| Operating profit | −$39.1M | — | — |
| Net earnings | −$44.9M | — | — |
| Operating cash flow | −$44.3M | — | — |
What changed
Revenue was $10.9M in Q1 2026, up 4% year over year and down 50% from the previous quarter.
Operating costs exceeded revenue by $39.1M, an operating margin of -359.6%. Total costs fell 9% while revenue rose 4%. The fastest-growing cost line was Other operating costs (+371%). The quarter ended with a net loss of $44.9M, wider than the previous quarter's $36.1M loss.
Operating cash flow was −$44.3M. Non-cash charges added back $151K of depreciation and amortization and $3.4M of share-based compensation. Working capital and other items used $2.9M. Capital expenditures of $18K exceeded it, leaving free cash flow of −$44.3M.
Questions
What was Nektar Therapeutics' revenue in the first quarter 2026?
Nektar Therapeutics (NKTR) reported revenue of $10.9M for the first quarter 2026 (Q1 2026), +4% from a year earlier and -50% from the quarter before.
Was Nektar Therapeutics profitable in the first quarter 2026?
Operating loss was $39.1M (-359.6% of revenue) and net loss $44.9M.