NBIX earnings analysis
What we found in NBIX'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
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.
The parts that mattered.
Pulled out of the filing itself, with the figures the company reported.
- Strong Revenue Growth
- Revenue increased to $814.5 million, up 42.3% from $572.6 million YoY.
- EPS Surge
- Diluted EPS rose significantly to $1.91, compared to just $0.08 in the prior year.
- Cash Flow Improvement
- Operating cash flow increased to $145.8 million, up from $64.8 million in Q1 2025.
- Increase in INGREZZA Sales
- INGREZZA net product sales reached $656.9 million, up from $545.2 million in Q1 2025.
- CRENESSITY Net Sales Boost
- CRENESSITY contributed $153.3 million in net sales, a substantial increase from $14.5 million YoY.
- Working Capital Improvement
- Total working capital improved to $1,604.4 million from $1,779.3 million in the previous quarter.
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.
- Regulatory Compliance Risk
- Ongoing investigations by the DOJ regarding sales and marketing practices pose significant legal and financial risks.
- Geopolitical Tensions
- Continued geopolitical unrest could disrupt supply chains and affect operations, particularly with external manufacturers.
- Acquisition Integration Challenges
- The pending acquisition of Soleno Therapeutics may pose integration risks and distract from current operations.
What they reported.
What the company itself reported, taken out of the document.
- Earnings per share
- $1.91
- Segment
- INGREZZA: $656.9 million (up from $545.2 million)
- Segment
- CRENESSITY: $153.3 million (up from $14.5 million)
What they said about what is next.
No specific revenue or earnings guidance was provided for the upcoming quarters.
The filing reads better than the one before it.
What came before.
- 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.…
- 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. Read the original on SEC.gov · Educational only. Nothing here is investment advice.
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