Eton Pharmaceuticals Reports Third Quarter 2026 Financial Results
Key Highlights
- ➤Q3 revenue $57.9 million, up 158% year over year
- ➤2026 revenue guidance raised above $175 million from above $145 million
- ➤2026 Adjusted EBITDA margin guidance raised above 40% from above 35%
- ➤Adjusted EBITDA $28.5 million, or 49% of revenue, versus 13% previously
- ➤KHINDIVI label expansion gets May 28, 2027 PDUFA date
Expert Statements
Sean Brynjelsen, CEO of Eton Pharmaceuticals
“Eton delivered another record quarter, with revenue of $57.9 million, up 158% year over year, and surpassed our $200 million annualized revenue run rate goal five quarters ahead of schedule. The team also demonstrated exceptional operational execution, significantly expanding margins, and delivering an adjusted EBITDA margin of 49%. We are raising both our revenue and adjusted EBITDA guidance for 2026, reflecting the strong momentum in our business”
Sean Brynjelsen, CEO of Eton Pharmaceuticals
“Growth remained strong across the portfolio, with record levels of active patients for all of our key products, including HEMANGEOL(®), INCRELEX(®), ALKINDI SPRINKLE(®), KHINDIVI(®), GALZIN(®) and DESMODA™. Our recent licensing agreement for LIBERVANT(®) adds another potential major 2027 launch and will expand us into neurology, giving us an additional therapeutic platform to build on with future transactions.”
Sean Brynjelsen, CEO of Eton Pharmaceuticals
“We have also made transformational improvements to our pipeline in recent months with ASN-001 for infantile hemangiomas, and ET-900, our new program evaluating mecasermin in infantile and epileptic spasms. Across our existing development programs, we achieved critical milestones in Q3: FDA acceptance of the KHINDIVI label expansion submission, completion of the Glyburide Oral Suspension bioavailability study, initiation of the INCRELEX label harmonization study, and completion of our ET-700 proof-of-concept study providing clear direction for final product formulation. We believe our pipeline has never been stronger and is positioned to drive continued near- and long-term growth for the Company”
* Record Q3 2026 product sales of $57.9 million, 158% year-over-year growth; surpassed $200 million annualized revenue run rate goal five quarters ahead of schedule * Q3 2026 fully diluted GAAP EPS of $1.06, non-GAAP fully diluted EPS of $0.50; EBITDA of $24.8 million, Adjusted EBITDA of $28.5 million or 49% of revenue * Raised 2026 revenue guidance to more than $175 million, up from prior guidance of more than $145 million; raised 2026 Adjusted EBITDA to more than 40%, up from prior guidance of more than 35% * Management to hold conference call today at 4:30pm ET DEER PARK, Ill., Nov. 05, 2026 (GLOBE NEWSWIRE) -- Eton Pharmaceuticals, Inc (“Eton” or “the Company”) (Nasdaq: ETON), an innovative pharmaceutical company focused on developing and commercializing treatments for rare diseases, today reported financial results for the quarter ended September 30, 2026.
“Eton delivered another record quarter, with revenue of $57.9 million, up 158% year over year, and surpassed our $200 million annualized revenue run rate goal five quarters ahead of schedule. The team also demonstrated exceptional operational execution, significantly expanding margins, and delivering an adjusted EBITDA margin of 49%. We are raising both our revenue and adjusted EBITDA guidance for 2026, reflecting the strong momentum in our business,” said Sean Brynjelsen, CEO of Eton Pharmaceuticals.
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