Filing Flows › Vanda Pharmaceuticals (VNDA) › Q2 2026 › vs Q2 2025
Vanda Pharmaceuticals (VNDA) Q2 2026 vs Q2 2025 (year over year)
Vanda Pharmaceuticals's revenue fell $2.1M (-4%) from $52.6M in Q2 2025 to $50.5M in Q2 2026. The biggest changes: HETLIOZ® net product sales −$10.6M (-66%); Fanapt® +$6.7M (+23%); NEREUSTM +$1.0M (—).
Vanda Pharmaceuticals, Q2 2026: revenue $50.5M (-4% year over year), operating margin -126.3%, net loss $62.5M, operating cash flow −$31.1M. The chart draws each line against Q2 2025, the increases inside each band.
Every line
| Line | Q2 2026 | Q2 2025 | Change | % |
|---|---|---|---|---|
| Fanapt® | $36.0M | $29.3M | $6.7M | +23% |
| PONVORY® net product sales | $7.9M | $7.1M | $831K | +12% |
| HETLIOZ® net product sales | $5.6M | $16.2M | −$10.6M | -66% |
| NEREUSTM | $1.0M | $0 | $1.0M | — |
| Revenue | $50.5M | $52.6M | −$2.1M | -4% |
| Other income, net | $1.4M | $3.6M | −$2.2M | -61% |
| Net loss | $62.5M | $27.2M | $35.3M | +130% |
| Costs & expenses | $114M | $91.1M | $23.4M | +26% |
| Operating costs | $114M | $91.1M | $23.2M | +26% |
| Income tax | $129K | −$7.7M | $7.8M | — |
| Cost of revenue | $3.6M | $2.7M | $824K | +30% |
| Research & development | $37.0M | $22.0M | $15.0M | +68% |
| SG&A | $71.8M | $64.6M | $7.2M | +11% |
| Other operating costs | $2.0M | $1.8M | $236K | +13% |
| Operating cash sources | $62.5M | $27.2M | $35.3M | +130% |
| Depreciation & amortization | $2.3M | $2.0M | $236K | +12% |
| Share-based compensation | $2.1M | $2.1M | $1K | 0% |
| Working capital & other | $27.1M | $7.8M | $19.3M | +246% |
| Cash used in operations | $31.1M | $15.3M | $15.8M | +104% |
| Net loss absorbed | $62.5M | $27.2M | $35.3M | +130% |
Questions
How much did Vanda Pharmaceuticals's revenue grow year over year in Q2 2026?
Vanda Pharmaceuticals's revenue fell $2.1M (-4%) from $52.6M in Q2 2025 to $50.5M in Q2 2026.
What drove Vanda Pharmaceuticals's revenue change in Q2 2026?
HETLIOZ® net product sales −$10.6M (-66%); Fanapt® +$6.7M (+23%); NEREUSTM +$1.0M (—).