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Viskase Holdings (VISK) earnings and revenue breakdown
Latest: Q3 2026 · 10-Q filed Nov 3, 2026 · Viskase Holdings (VISK) Q3 2026 earnings results →
Q3 2026 Revenue up 4% year over year to $95.3M · 7¢ of every $1 of revenue lost · operating margin -3.3%
Viskase Holdings made $95.3M in Q3 2026 (+4% Y/Y): Nojax $53.8M, Fibrous $22.5M, Plastic $10.7M. Operating margin -3.3%, net loss $6.4M. See where every dollar goes — costs, profit and cash — as a Sankey from the 10-Q filed Nov 3, 2026.
Drawing the Sankey…
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What changed this quarter
Revenue was $95.3M in Q3 2026, up 5% year over year and up 6% from the previous quarter. Nojax was the largest line at 57% of revenue. Nojax added $6.7M year over year (up 14%), 163% of the total change. Fibrous declined 18%.
Gross margin was 8.9%, up 2.5 points from a year earlier. Operating costs exceeded revenue by $3.1M, an operating margin of -3.3%. Operating expenses fell 22% while revenue rose 5%. The quarter ended with a net loss of $6.4M, wider than the previous quarter's $5.1M loss. Net interest and other expense of $3.3M was the main reason.
Operating cash flow was $454K (down 96% year over year). Non-cash charges added back $4.1M of depreciation and amortization. Working capital and other items added $2.8M. Capital expenditures of $6.6M exceeded it, leaving free cash flow of −$6.1M.
Quarterly history
| Quarter | Form | Filed | Revenue | Y/Y | Op. margin | Net earnings | Op. cash flow |
|---|---|---|---|---|---|---|---|
| Q3 2026 | 10-Q | Nov 3, 2026 | $95.3M | +4% | -3.3% | −$6.4M | $454K |
| Q2 2026 | 10-Q | Aug 3, 2026 | $90.1M | -7% | -2.2% | −$5.1M | −$11.2M |
| Q1 2026 | 10-Q | May 4, 2026 | $86.5M | -8% | -5.0% | −$6.7M | −$16.3M |
| Q2 2025 | 10-Q | Aug 14, 2025 | $97.3M | 3,742× | -1.6% | −$20.3M | −$672K |
| Q1 2025 | 10-Q | May 9, 2025 | $94.2M | — | -1.1% | −$13.6M | −$618K |
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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🔍Earnings qualityinteractive
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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 Viskase Holdings
Enzon Pharmaceuticals, Inc. (together with its subsidiaries, the “Company,” “Enzon,” “we” or “us”) is positioned as a public company acquisition vehicle. We were incorporated on May 11, 1983. Historically, we have received royalty revenues from licensing arrangements with other companies primarily related to sales of certain drug products that utilized Enzon’s proprietary technology. For more than ten years, we have had no clinical operations and limited corporate operations. We previously were a party to a marketing agreement relating to the drug Vicineum, which, if approved, could have potentially generated milestone and royalty payments to us in the future. However, our licensee for this drug was canceled by the counterparty to the marketing agreement and our patent for Vicineum has since expired.
In its own words, from its 10-K, filed Mar 2, 2026.
Viskase Holdings against its Biological Products, (No Diagnostic Substances) peers
The largest companies of the same SEC industry, each at its latest quarter. Revenue growth: +4% against the peers' median +11%. Operating margin: -3.3% against the peers' median 35.8%.
| Company | Quarter | Revenue | Y/Y | Op. margin |
|---|---|---|---|---|
| VISK Viskase Holdings | Q3 2026 | $95.3M | +4% | -3.3% |
| AMGN Amgen | Q3 2026 | $10.4B | +8% | 35.8% |
| GILD Gilead Sciences | Q3 2026 | $8.3B | +7% | 41.7% |
| BIIB Biogen | Q3 2026 | $2.8B | +11% | -0.3% |
| MRNA Moderna | Q3 2026 | $1.3B | +29% | 9.9% |
| NBIX Neurocrine Biosciences | Q3 2026 | $1.1B | +41% | 29.5% |
| EXEL Exelixis | Q3 2026 | $659M | +10% | 40.8% |
| HALO Halozyme Therapeutics | Q3 2026 | $493M | +39% | 59.8% |
| MGTX MeiraGTx Holdings | Q2 2026 | $321M | 87× | 76.0% |
Source: Viskase Holdings 10-Q on SEC EDGAR · CIK 727510 · Biological Products, (No Diagnostic Substances)
Guidance and outlook
More on VISK
History
Every quarter: Q3 2026 results · Q2 2026 results · Q1 2026 results · Q2 2025 results · Q1 2025 results