10-K · February 19, 2026
PTC’s 2025 results show a volatile year driven by a $1.18B Q1 revenue spike and otherwise weak commercial quarters; Q4 revenue was $164,677,000 with GAAP diluted EPS of $(1.67), missing consensus. The filing emphasizes…
Earnings analysis · 10-Q
PTCT earnings analysis
Filed May 7, 2026 · Our reading of the company's report
The latest report
PTC Therapeutics reported strong Q1 2026 results with total revenue of $272.6 million, exceeding estimates of $227.5 million. The EPS of -$0.03 significantly beat the projected -$0.41. Management highlighted…
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PTC Therapeutics reported strong Q1 2026 results with total revenue of $272.6 million, exceeding estimates of $227.5 million. The EPS of -$0.03 significantly beat the projected -$0.41. Management highlighted improvements in product performance, particularly from the Sephience launch, and adjusted full-year revenue guidance upward to a range of $1.08 billion to $1.18 billion.
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.
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
- $-0.03
What stood out
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Q1 Revenue Beats Expectations
Actual revenue was $272.6 million, beating estimates by 19.8%.
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Significant EPS Surprise
Reported EPS of -$0.03 compared to an estimate of -$0.41, presenting a 92.7% positive surprise.
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Guidance Raised for FY 2026
Full-year revenue guidance increased to between $1.08 billion and $1.18 billion.
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Strong Growth from Sephience Launch
Sephience contributed positively to revenue growth in Q1.
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Robust Cash Position
Cash, cash equivalents, and marketable securities totaled $1.89 billion as of March 31, 2026.
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Positive Segment Performance
Revenue from key therapeutic segments showed strong growth.
What to watch
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High Operating Cash Burn
Net cash used in operating activities was $59 million, contrasting sharply with $870 million provided in the same quarter last year.
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Dependence on Product Sales
Future revenue growth heavily depends on successful commercialization efforts amidst competitive pressures.
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Regulatory Approval Uncertainties
Ongoing trials and required studies for NDA resubmission may delay product launches, impacting revenue timelines.
Management's outlook
Management increased the outlook for 2026 revenue based on improved product performance.
Earlier filings 4
10-Q · November 4, 2025
PTC reported Q3 2025 revenue of $211,007,000 (up from $196,786,000 year-over-year and above consensus) and GAAP diluted EPS of $0.20 (vs $(1.39) in Q3 2024). The quarter was driven by higher royalty revenue…
10-Q · August 7, 2025
PTC reported Q2 2025 revenue of $178.875M and GAAP diluted loss per share of $(0.83). Revenue declined modestly year-over-year (down $7.829M, -4.2%) but collapsed sequentially from Q1 2025 due to the absence of large…
10-Q · November 7, 2024
PTC reported Q3 revenue of $196.8M, essentially flat versus $196.6M in Q3 2023, with a narrower operating loss of $54.5M (vs. $118.2M) and GAAP EPS of -$1.39 (improved from -$1.76). Royalty revenue grew materially while…
This is our reading of a public filing, not the filing itself. Analysis can contain errors; check the source document for full context.