Filing Flows › Vanda Pharmaceuticals (VNDA) › Q2 2026
Vanda Pharmaceuticals (VNDA) Q2 2026 earnings results (second quarter 2026)
10-Q filed Aug 6, 2026
Vanda Pharmaceuticals (VNDA) reported revenue of $50.5M for the second quarter 2026 (Q2 2026), -4% from a year earlier and -2% from the quarter before. Operating margin was -126.3%, net loss $62.5M (123.7% of revenue).
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 follows the revenue to costs, profit and cash.
| Q2 2026 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $50.5M | -2% | -4% |
| Operating profit | −$63.8M | — | — |
| Net earnings | −$62.5M | — | — |
| Operating cash flow | −$31.1M | — | — |
What changed
Revenue was $50.5M in Q2 2026, down 4% year over year and down 2% from the previous quarter. Fanapt® was the largest line at 71% of revenue. HETLIOZ® net product sales lost $10.6M year over year (down 66%), 515% of the total change.
Operating costs exceeded revenue by $63.8M, an operating margin of -126.3%. Total costs grew 26% against a revenue fall of 4%. The fastest-growing cost line was Research & development (+68%). The quarter ended with a net loss of $62.5M, wider than the previous quarter's $48.6M loss.
Operating cash flow was −$31.1M. Non-cash charges added back $2.3M of depreciation and amortization and $2.1M of share-based compensation. Working capital and other items added $27.1M. Capital expenditures of $190K exceeded it, leaving free cash flow of −$31.3M.
Questions
What was Vanda Pharmaceuticals' revenue in the second quarter 2026?
Vanda Pharmaceuticals (VNDA) reported revenue of $50.5M for the second quarter 2026 (Q2 2026), -4% from a year earlier and -2% from the quarter before.
Was Vanda Pharmaceuticals profitable in the second quarter 2026?
Operating loss was $63.8M (-126.3% of revenue) and net loss $62.5M.