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How United Therapeutics (UTHR) makes money
United Therapeutics (UTHR) made $832M of revenue in the third quarter 2026 (Q3 2026), +4% from a year earlier. Total Tyvaso brought in $504M (61%); Orenitram brought in $145M (17%); Remodulin brought in $122M (15%). Of every dollar of revenue, 88¢ was left as gross profit, 37¢ was left as operating profit, 31¢ was left as net earnings.
Drawing the Sankey…
Revenue by segment, Q3 2026
| Segment | Revenue | Share | Q/Q | Y/Y |
|---|---|---|---|---|
| Total Tyvaso | $504M | 60.5% | +11% | +5% |
| ↳ Tyvaso DPI | $378M | 45.5% | +16% | +13% |
| ↳ Nebulized Tyvaso | $125M | 15.1% | -0.6% | -12% |
| Orenitram | $145M | 17.4% | +15% | +11% |
| Remodulin | $122M | 14.7% | -3% | -3% |
| Unituxin | $52.3M | 6.3% | -20% | +9% |
| Other | $4.9M | 0.6% | -28% | -29% |
| Adcirca | $4.5M | 0.5% | -33% | -54% |
Where each dollar of revenue goes
| Line | Q3 2026 | % of revenue |
|---|---|---|
| Revenue | $832M | 100.0% |
| Cost of revenue | $99.1M | 11.9% |
| Gross profit | $733M | 88.1% |
| Operating expenses | $426M | 51.1% |
| Operating profit | $308M | 37.0% |
| Income tax | $114M | 13.7% |
| Net earnings | $259M | 31.1% |
| Operating cash flow | $306M | 36.8% |
| Free cash flow | $126M | 15.1% |
Revenue, quarter by quarter
| Quarter | Revenue | Y/Y |
|---|---|---|
| Q3 2026 | $832M | +4% |
| Q2 2026 | $783M | -2% |
| Q1 2026 | $782M | -2% |
| Q4 2025 | $790M | +7% |
| Q3 2025 | $800M | +7% |
| Q2 2025 | $799M | +12% |
| Q1 2025 | $794M | +17% |
From United Therapeutics' 10-Q filed Nov 4, 2026 (on EDGAR).
Questions
How does United Therapeutics make money?
United Therapeutics (UTHR) made $832M of revenue in the third quarter 2026 (Q3 2026), +4% from a year earlier. Total Tyvaso brought in $504M (61%); Orenitram brought in $145M (17%); Remodulin brought in $122M (15%). Of every dollar of revenue, 88¢ was left as gross profit, 37¢ was left as operating profit, 31¢ was left as net earnings.
What is United Therapeutics' biggest business?
Total Tyvaso: $504M in the third quarter 2026, 61% of revenue, +5% from a year earlier.
What is United Therapeutics' profit margin?
Net earnings were $259M, 31.1% of revenue, in the third quarter 2026; the operating margin was 37.0%.
Updated Nov 8, 2026. Read automatically from SEC filings and public data; errors are possible. Not investment advice.