ANIP earnings analysis
What we found in ANIP's 10-Q: the parts that mattered, the offsets in the same document, and what the company said about what comes next.
Our reading of the filing · Free to read, no account needed
ANI Pharmaceuticals reported a strong performance for Q1 2026 with revenue of $237.5 million, exceeding estimates and reflecting a 20.5% year-over-year increase. Additionally, EPS came in at $1.28, surpassing the consensus estimate of $1.23, while the company raised its guidance for full-year revenue and EPS outlook, indicating positive growth prospects.
The parts that mattered.
Pulled out of the filing itself, with the figures the company reported.
- Strong Revenue Beat
- Q1 2026 revenue reached $237.5 million, up 20.5% from $197.1 million in Q1 2025.
- Improved EPS
- Diluted EPS for Q1 2026 was $1.28, exceeding the estimated $1.23.
- Rare Disease Segment Growth
- Rare Disease and Brands revenue increased by $34.2 million to $128.2 million, a 36.3% growth.
- Cortrophin Gel Sales Surge
- Sales of Cortrophin Gel grew 42.1% to $75.1 million compared to $52.9 million in Q1 2025.
- Increased Cash Flow
- Operating cash flow improved to $58.4 million, up from $35.0 million a year earlier.
- Raised Full-Year Guidance
- Full-year revenue guidance increased to $1,080 million - $1,140 million from a prior range of $1,055 million - $1,115 million.
And the other side of it.
The offsets in the same document — the things a summary that only listed the good news would have left out.
- Litigation Expenses
- Potential litigation expenses impacting profitability, as highlighted in the 10-K.
- Market Competition
- Increasing competition in generic and branded products could pressure margins.
- Supply Chain Risks
- Reliance on a limited number of suppliers for raw materials could affect production.
What they reported.
What the company itself reported, taken out of the document.
- Earnings per share
- $1.28
- Gross margin
- 39.4%
- Operating margin
- 16.4%
- Segment
- Rare Disease
- Segment
- Brands
- Segment
- Generics
What they said about what is next.
Increased guidance reflects strong sales performance and market demand.
The filing reads better than the one before it.
What came before.
- 10-K · February 27, 2026
- ANI Pharmaceuticals strengthened its Rare Disease footprint in 2025 via the Alimera acquisition (ILUVIEN/YUTIQ) and an expanded ILUVIEN label (March 2025), while growing top-line sales (FY2025 revenue approx. $883.0M)…
- 10-Q · August 6, 2024
- ANI reported Q2 net revenues of $138.04M (up $21.49M or ~18.4% YoY from $116.55M) but recorded a Q2 net loss of $(2.287)M (basic/diluted loss per share $(0.14)). Six‑month results improved: operating income for the six…
- 10-Q · August 9, 2023
- ANI reported materially stronger Q2 results versus prior-year Q2 with net revenues of $116,547,000 (up from $73,855,000) and a return to operating profit of $12,402,000 versus an operating loss of $(12,913,000) in Q2…
- 10-Q · May 8, 2023
- ANI Pharma reported strong top-line growth: net revenues of $106,786,000 in Q1 2023, up from $64,477,000 in Q1 2022. The company swung to operating income of $9,895,000 (9.3% operating margin) from an operating loss of…
This is our reading of a public filing, not the filing. Read the original on SEC.gov · Educational only. Nothing here is investment advice.
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