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Travere Therapeutics (TVTX) earnings and revenue breakdown
Latest: Q3 2026 · 10-Q filed Nov 2, 2026 · Travere Therapeutics (TVTX) Q3 2026 earnings results →
Q3 2026 Revenue up 36% year over year to $225M · 23¢ of every $1 of revenue lost · operating margin -30.3%
Travere Therapeutics made $225M in Q3 2026 (+36% Y/Y): Total net product sales $220M, License and collaboration revenue $4.4M. Operating margin -30.3%, net loss $52.3M. See where every dollar goes — costs, profit and cash — as a Sankey from the 10-Q filed Nov 2, 2026.
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What changed this quarter
Revenue was $224.6M in Q3 2026, up 36% year over year and up 32% from the previous quarter. FILSPARI was the largest line at 89% of revenue. FILSPARI added $109.3M year over year (up 120%), 183% of the total change. License and collaboration revenue declined 92%.
Operating costs exceeded revenue by $68.1M, an operating margin of -30.3%. Total costs grew 109% against revenue growth of 36%. The fastest-growing cost line was Other operating costs (+686%). The quarter ended with a net loss of $52.3M, wider than the previous quarter's $34.8M loss.
Operating cash flow was $98.2M (up 586% year over year). Non-cash charges added back $5.2M of depreciation and amortization and $23.4M of share-based compensation. Working capital and other items added $121.9M.
Quarterly history
| Quarter | Form | Filed | Revenue | Y/Y | Op. margin | Net earnings | Op. cash flow |
|---|---|---|---|---|---|---|---|
| Q3 2026 | 10-Q | Nov 2, 2026 | $225M | +36% | -30.3% | −$52.3M | $98.2M |
| Q2 2026 | 10-Q | Aug 4, 2026 | $170M | +48% | 2.3% | −$34.8M | $58.1M |
| Q1 2026 | 10-Q | May 4, 2026 | $127M | +56% | -29.0% | −$37.1M | −$40.4M |
| Q4 2025 | 10-K | Feb 19, 2026 | $130M | +73% | -25.0% | $2.7M | $60.7M |
| Q3 2025 | 10-Q | Oct 30, 2025 | $165M | +162% | 15.1% | $25.7M | $14.3M |
| Q2 2025 | 10-Q | Aug 6, 2025 | $114M | +112% | -11.1% | −$12.8M | $5.0M |
| Q1 2025 | 10-Q | May 1, 2025 | $81.7M | +98% | -52.2% | −$41.2M | −$42.2M |
Charts
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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 Travere Therapeutics
Those statements in the following discussion that are not historical in nature should be considered forward-looking statements that are inherently uncertain. Actual results and the timing of the events may differ materially from those contained in these forward-looking statements due to a number of factors, including those discussed in the “Cautionary Statement Regarding Forward-Looking Statements” and “Risk Factors” set forth elsewhere in this Annual Report. We are a biopharmaceutical company headquartered in San Diego, California, focused on identifying, developing and delivering life-changing therapies to people living with rare kidney and metabolic diseases. Our approach centers on advancing our innovative pipeline with multiple late-stage clinical programs targeting rare diseases with significant unmet medical needs.
In its own words, from its 10-K, filed Feb 19, 2026.
Travere Therapeutics against its Pharmaceutical Preparations peers
The largest companies of the same SEC industry, each at its latest quarter. Revenue growth: +36% against the peers' median +10%. Operating margin: -30.3% against the peers' median 20.4%.
| Company | Quarter | Revenue | Y/Y | Op. margin |
|---|---|---|---|---|
| TVTX Travere Therapeutics | Q3 2026 | $225M | +36% | -30.3% |
| 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: Travere Therapeutics 10-Q on SEC EDGAR · CIK 1438533 · Pharmaceutical Preparations
Guidance and outlook
13F: who owns TVTX and who is buying
More on TVTX
- How Travere Therapeutics makes money: revenue by segment
- Travere Therapeutics next earnings date and what analysts expect
- Travere Therapeutics stock forecast, price target and fair value
- Who owns Travere Therapeutics stock: holders, funds and Congress trades
- Travere Therapeutics guidance and outlook
- Travere Therapeutics 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