Filing Flows › Sarepta Therapeutics (SRPT) › Q1 2026
Sarepta Therapeutics (SRPT) Q1 2026 earnings results (first quarter 2026)
10-Q filed May 6, 2026
Sarepta Therapeutics (SRPT) reported revenue of $731M for the first quarter 2026 (Q1 2026), -2% from a year earlier and +65% from the quarter before. Operating margin was 49.0%, net earnings $331M (45.3% of revenue).
Sarepta Therapeutics, Q1 2026: revenue $731M (-2% year over year), operating margin 49.0%, net earnings $331M, operating cash flow −$203M. The chart follows the revenue to costs, profit and cash.
| Q1 2026 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $731M | +65% | -2% |
| Operating profit | $358M | — | — |
| Net earnings | $331M | — | — |
| Operating cash flow | −$203M | -254% | — |
What changed
Revenue was $730.8M in Q1 2026, down 2% year over year and up 65% from the previous quarter. Pmo Products was the largest line at 31% of revenue. Elevidys lost $273.0M year over year (down 73%), 1943% of the total change.
Operating profit was $358.4M, a 49.0% margin (up 89.4 points year over year). Net earnings were $331.0M. The effective tax rate was 3.6%.
Operating cash flow was −$202.7M. Non-cash charges added back $10.6M of depreciation and amortization and $29.4M of share-based compensation. Working capital and other items used $573.6M. Capital expenditures of $2.1M exceeded it, leaving free cash flow of −$204.8M.
Questions
What was Sarepta Therapeutics' revenue in the first quarter 2026?
Sarepta Therapeutics (SRPT) reported revenue of $731M for the first quarter 2026 (Q1 2026), -2% from a year earlier and +65% from the quarter before.
Was Sarepta Therapeutics profitable in the first quarter 2026?
Operating profit was $358M (49.0% of revenue) and net earnings $331M.