10-K · February 12, 2026
Agios is transitioning to a rare-hematology commercial-stage company: product revenue accelerated in 2025 (Q4 2025 product revenue $19,967,000) and full-year product sales increased materially versus 2024 (2025 revenue…
Earnings analysis · 10-Q
AGIO earnings analysis
Filed April 29, 2026 · Our reading of the company's report
The latest report
Agios Pharmaceuticals reported a significant revenue increase in Q1 2026 with $20.7 million, exceeding expectations of $13.8 million. The diluted EPS loss was narrower than forecasted at -$1.69 compared to the estimated…
Read full summary
Agios Pharmaceuticals reported a significant revenue increase in Q1 2026 with $20.7 million, exceeding expectations of $13.8 million. The diluted EPS loss was narrower than forecasted at -$1.69 compared to the estimated -$1.79, indicating improved operational efficiency. Management expressed confidence in the continued commercial momentum driven by their new product AQVESME, although risks remain concerning ongoing operating losses and increased R&D spending.
Gross and operating margin
How much of each revenue dollar the business keeps.
One point per quarterly or annual filing. Both margins are shares of that report's revenue.
From revenue to operating profit
Where each $100 of revenue went in this report.
Cost of sales, operating expenses, and what remained. Figures are rounded to whole dollars.
How we read each report
Our analysis across the last few reports.
Our model's reading of each filing, not the share price or the market's reaction. Annual and quarterly reports each occupy one position.
Reported figures
- Earnings per share
- $-1.69
What stood out
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Revenue Increased Substantially
Q1 2026 revenue was $20.7 million, up from $9 million and significantly higher than the estimate of $13.8 million.
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EPS Loss Narrowed vs Estimates
Diluted EPS loss of -$1.69 was narrower than the estimated -$1.79.
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Strong New Product Launch
Commercial launch of AQVESME in January 2026 contributed to a revenue jump of $12 million year-over-year.
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Growth in Net Product Revenues
Net product revenues reached $20.7 million for PYRUKYND® and AQVESME™.
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Operating Margin Improvement
Gross margin improved to 90.6% from 88.3% in Q4 2025.
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Cash and Securities Remain Solid
Cash, cash equivalents, and marketable securities totaled $1.0 billion as of March 31, 2026.
What to watch
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High Operating Losses Persist
The company reported an operating margin of -608.9% in Q4 2025, indicating ongoing significant losses.
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Increased R&D Spending
R&D expenses continue to rise as the company focuses on multiple clinical programs, impacting financial resources.
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Cash Position Decline
Cash, cash equivalents, and marketable securities decreased from $1.2 billion at the end of 2025 to $1.0 billion.
Management's outlook
No specific revenue or EPS guidance provided, however, management is optimistic about continued growth from AQVESME.
Earlier filings 4
10-Q · October 30, 2025
Agios reported product revenue of $12,880,000 in Q3 2025 (up from $8,964,000 in Q3 2024) but continued to record large operating losses; loss from operations was $116,869,000 for the quarter and net loss was…
10-Q · May 1, 2025
Agios reported Q1 revenue of $8.726M and maintained a high gross margin (cost of sales $1.085M) but recorded a net loss of $89.289M ($1.55 per share) and negative operating cash flow. The company retains strong…
10-K · February 15, 2024
Agios is positioning itself as a focused rare-disease / classical hematology company centered on commercializing PYRUKYND® (mitapivat) and advancing PKR-targeting and PAH-stabilizer programs (AG-946, AG-181) plus a July…
This is our reading of a public filing, not the filing itself. Analysis can contain errors; check the source document for full context.