10-K · February 11, 2026
Neurocrine Biosciences delivered strong revenue growth in 2025, driven by the introduction of its new drug CRENESSITY and sustained performance from INGREZZA, despite economic pressures impacting margins and profits.…
Earnings analysis · 10-Q
NBIX earnings analysis
Filed May 5, 2026 · Our reading of the company's report
The latest report
Neurocrine Biosciences reported a strong Q1 2026 with revenue of $814.5 million, an increase of 42.3% year-over-year, driven primarily by net product sales growth from INGREZZA and CRENESSITY. The company reported an…
Read full summary
Neurocrine Biosciences reported a strong Q1 2026 with revenue of $814.5 million, an increase of 42.3% year-over-year, driven primarily by net product sales growth from INGREZZA and CRENESSITY. The company reported an improved EPS of $1.91, surpassing expectations and demonstrating remarkable operational performance despite facing certain logistical challenges.
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.
Where revenue came from
The business segments reported by the company.
Shares of the segments disclosed in this filing, largest first.
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
- $1.91
What stood out
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Strong Revenue Growth
Revenue increased to $814.5 million, up 42.3% from $572.6 million YoY.
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EPS Surge
Diluted EPS rose significantly to $1.91, compared to just $0.08 in the prior year.
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Cash Flow Improvement
Operating cash flow increased to $145.8 million, up from $64.8 million in Q1 2025.
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Increase in INGREZZA Sales
INGREZZA net product sales reached $656.9 million, up from $545.2 million in Q1 2025.
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CRENESSITY Net Sales Boost
CRENESSITY contributed $153.3 million in net sales, a substantial increase from $14.5 million YoY.
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Working Capital Improvement
Total working capital improved to $1,604.4 million from $1,779.3 million in the previous quarter.
What to watch
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Regulatory Compliance Risk
Ongoing investigations by the DOJ regarding sales and marketing practices pose significant legal and financial risks.
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Geopolitical Tensions
Continued geopolitical unrest could disrupt supply chains and affect operations, particularly with external manufacturers.
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Acquisition Integration Challenges
The pending acquisition of Soleno Therapeutics may pose integration risks and distract from current operations.
Management's outlook
No specific revenue or earnings guidance was provided for the upcoming quarters.
Earlier filings 4
10-Q · October 28, 2025
Neurocrine Biosciences reported impressive Q3 2025 results with revenue up 27.3% year-over-year to $795 million, significantly exceeding estimates. EPS increased to $2.04, marking a 64.5% rise compared to the previous…
10-Q · July 30, 2025
Neurocrine Biosciences delivered strong financial results for Q2 2025 with revenues of $688 million, surpassing estimates by 5.57%, and an impressive EPS of $1.65, which exceeded expectations by 29.92%. Key growth was…
10-Q · May 5, 2025
Neurocrine Biosciences reported a strong quarterly performance for Q1 2025, showcasing a 11% increase in revenue compared to the same period last year, though EPS disappointed investor expectations. The company…
This is our reading of a public filing, not the filing itself. Analysis can contain errors; check the source document for full context.