10-K · March 9, 2026
Zevra transitioned to a commercial-stage rare-disease company in 2025 driven by the launch of MIPLYFFA, producing substantial top-line growth and a sharp margin inflection in Q4. The company monetized a rare pediatric…
Earnings analysis · 10-Q
ZVRA earnings analysis
Filed May 6, 2026 · Our reading of the company's report
The latest report
Zevra Therapeutics reported a strong Q1 2026 with $36.2 million in revenue, up $15.8 million from the previous year, and a significant EPS of $0.60 compared to a loss of $0.06 in Q1 2025. The results were bolstered by…
Read full summary
Zevra Therapeutics reported a strong Q1 2026 with $36.2 million in revenue, up $15.8 million from the previous year, and a significant EPS of $0.60 compared to a loss of $0.06 in Q1 2025. The results were bolstered by increased product sales of its MIPLYFFA therapy and a notable gain from the sale of royalties. Overall, the company continues to strengthen its cash position with $236.8 million in liquidity, following its debt repayment and portfolio optimization efforts.
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
- $0.6
What stood out
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Revenue Growth of 77.5%
Q1 2026 revenue reached $36.2 million, a 77.5% increase from $20.4 million in Q1 2025.
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Strong EPS Performance
Diluted EPS for Q1 2026 was $0.60 compared to a loss of $0.06 in the prior year, marking a $0.66 improvement.
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Debt-Free Balance Sheet
Completed a $50 million asset sale, leading to a cash position of $236.8 million and repayment of $63.1 million in debt.
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Significant Gain on Asset Sale
Reported a gain of $43.3 million on the sale of future royalties and assets under the Commave Settlement Agreement.
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Operating Cash Flow Positive
Net cash provided by operating activities was $6.1 million in Q1 2026, compared to a negative $8.2 million in the prior year.
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Increased Focus on MIPLYFFA Success
Revenue from MIPLYFFA increased by $7.5 million, enhancing future growth potential.
What to watch
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Loss on Extinguishment of Debt
Reported a loss of $2.8 million associated with the repayment of debt in Q1 2026.
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Regulatory and Healthcare Reform Uncertainty
New healthcare reforms may complicate reimbursement and approval processes for future products.
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Increased Operating Expenses
Total operating expenses rose to $25.2 million from $22.8 million in the same quarter last year.
Management's outlook
No forward guidance provided in the report.
Earlier filings 4
10-Q · May 13, 2025
Zevra reported a large revenue ramp to $20,401 (in thousands) in Q1 2025 from $3,425 in Q1 2024, driving a marked improvement in reported EPS to $(0.06) from $(0.40). Gross margins remained high (93.4% on a comparable…
10-K · March 12, 2025
Zevra is a commercial-stage rare-disease company that launched MIPLYFFA (arimoclomol) after FDA approval on September 20, 2024 and made product commercially available November 21, 2024, while continuing…
10-Q · November 13, 2024
Zevra reported Q3 revenue of $3.695M (up $0.800M, +27.6% vs Q3 2023) but posted a GAAP net loss of $33.225M (‑$0.69 per share), driven by $1.545M of intangible amortization, a $1.545M increase in cost of goods and a…
This is our reading of a public filing, not the filing itself. Analysis can contain errors; check the source document for full context.