Alkermes plc (ALKS) Earnings: Q3 2026 Results

The quarter ended September 30, 2026 and Alkermes published the results on November 3, 2026. Revenue and diluted EPS are shown against Q3 2025, the same quarter a year earlier, which takes seasonal swings out of the comparison.

• Alkermes completed its acquisition of Avadel Pharmaceuticals on February 12, 2026, which added LUMRYZ. The year-ago quarter has no LUMRYZ sales.
• Alkermes does not report an adjusted EPS figure. Its non-GAAP measures are EBITDA and Adjusted EBITDA. The third guidance quote refers to LYBALVI.

Source: Alkermes Q3 2026 results, November 3, 2026. Also in the Form 10-Q for the quarter ended September 30, 2026. Figures as reported; checked against the release on November 10, 2026.

How Alkermes splits revenue in its own release, under its own labels, for Q3 2026 against Q3 2025. Indented lines are parts of the line above them.

• Alkermes's Total proprietary net sales revenue was $417 million in Q3 2026, up 31% from $317 million in Q3 2025, 87% of total revenue.
• Alkermes's Manufacturing and royalty revenues revenue was $62.9 million in Q3 2026, down 18% from $76.8 million in Q3 2025, 13% of total revenue.

Segment lines are the figures writers cite most often, because they show where the growth in a quarter came from. Companies redraw their segments from time to time and restate the prior year to match, so a year-ago figure here can differ from the one printed a year ago. When that has happened, the note above says so.

From the earnings release

Alkermes's Q3 release reiterates the 2026 expectations it set on July 28, 2026. The figures are in the results presentation filed as Exhibit 99.2 to the same Form 8-K.

In its Q3 2026 release, Alkermes said:

“Alkermes reiterates its financial expectations for 2026, as set forth in its press release dated July 28, 2026.”

“Total Revenues $1,730-$1,840”

“FY'27 gross-to-net deductions expected to be: ~45%”

Source: Alkermes Q3 2026 results presentation (Form 8-K, Exhibit 99.2), Nov 3, 2026.

This is the company's own guidance as of Nov 3, 2026, quoted as given. Walnut does not make forecasts of its own. Analyst estimates for the coming quarters are on the ALKS forecast page.

Revenue and diluted EPS for the last 5 quarters. Each date links to that quarter's release.

GAAP total revenues and diluted EPS, each as first reported in that quarter's release. Quarters from Q1 2026 include LUMRYZ from February 12, 2026.

We do not hold a confirmed date for Alkermes's next report. Companies post the date on their investor relations site a few weeks ahead, usually with the time of the conference call.

Each quarter keeps its own page with the figures as reported, so a link to one stays pointed at the same numbers after the next report.

• Q3 2026 (this page), reported Nov 3, 2026

Alkermes's total revenues were $480.1 million in Q3 2026, against $394.2 million a year earlier. Proprietary net sales of its own medicines were $417.3 million: VIVITROL for alcohol and opioid dependence ($127.6 million), ARISTADA for schizophrenia ($103.9 million), LYBALVI for schizophrenia and bipolar I disorder ($95.9 million) and LUMRYZ for narcolepsy ($89.9 million). Manufacturing and royalty revenues from medicines sold by partners fell to $62.9 million from $76.8 million. (Alkermes Q3 2026 release, Nov 3, 2026)

LUMRYZ is new to the mix. Alkermes acquired it with Avadel Pharmaceuticals on February 12, 2026, paying $21.00 per Avadel share in cash plus a contingent value right of up to $1.50 per share. About 4,100 patients were on LUMRYZ therapy at the end of the quarter, and LUMRYZ does not participate in the Medicaid drug rebate program. (Alkermes Q3 2026 release, Nov 3, 2026; Alkermes Form 10-Q, Q3 2026, Nov 3, 2026)

Apart from LUMRYZ, Alkermes's 10-Q attributes the rise in product sales to a 9% increase in ARISTADA units, a 16% increase in LYBALVI units, and a 6% price increase on ARISTADA, LYBALVI and VIVITROL from January 1, 2026. Some of the quarter was one-time: VIVITROL included about $8 million and ARISTADA about $3 million of gross-to-net favorability (the 10-Q says actual Medicaid rebates were lower than estimated), and ARISTADA and LYBALVI carried about $4 million and $2 million of inventory benefit from the timing of shipments. (Alkermes Form 10-Q, Q3 2026, Nov 3, 2026; Alkermes Q3 2026 release, Nov 3, 2026)

Royalties are shrinking. Royalties on Johnson & Johnson's long-acting INVEGA products were $26.4 million against $30.2 million, and VUMERITY revenue from Biogen fell to $29.5 million from $35.6 million, partly because Alkermes's VUMERITY manufacturing work for Biogen ended in August 2025. Alkermes's royalty on U.S. sales of INVEGA SUSTENNA expired in August 2024. (Alkermes Form 10-Q, Q3 2026, Nov 3, 2026)

Alkermes sells mainly through three U.S. wholesalers. In 2025, McKesson, Cardinal Health and Cencora accounted for about 48%, 22% and 24% of ARISTADA gross sales and about 32%, 29% and 35% of LYBALVI gross sales. (Alkermes Form 10-K, 2025, Feb 25, 2026)

Alkermes's GAAP diluted EPS fell to $0.09 in Q3 2026 from $0.49 a year earlier, and net income fell to $16.3 million from $82.8 million, mostly because of costs tied to the Avadel deal. The quarter carried $29.8 million of acquisition-related costs, $28.7 million of it in cost of goods sold as the stepped-up value of acquired LUMRYZ inventory was expensed, plus $19.7 million of amortization of acquired intangible assets and $27.6 million of interest expense on the term loans that funded the purchase. A year earlier Alkermes had no interest expense and earned $11.9 million of interest income. (Alkermes Q3 2026 release, Nov 3, 2026)

Alkermes does not publish an adjusted EPS figure. Its Adjusted EBITDA, which also excludes share-based compensation ($26.7 million in the quarter), was $120.1 million against $121.5 million a year earlier. An income tax benefit of $1.6 million compared with a provision of $18.0 million a year earlier. (Alkermes Q3 2026 release, Nov 3, 2026; Alkermes Q3 2026 results presentation, Nov 3, 2026)

Diluted weighted-average shares rose to 176.4 million from 168.5 million. Alkermes repurchased about 1.0 million shares in Q1 2026 for $27.7 million, at an average of $27.82, and bought none in Q2 or Q3; $172.3 million remained under its $400.0 million program at September 30, 2026. (Alkermes Q3 2026 release, Nov 3, 2026; Alkermes Form 10-Q, Q3 2026, Nov 3, 2026)

Diluted EPS divides net income by the weighted average number of shares outstanding in the quarter, plus the shares that options and other equity awards could add. Buybacks shrink that count and lift EPS for the same profit; share issuance and stock awards enlarge it.

Alkermes publishes full-year expectations and reiterated them with Q3 2026 results: total revenues of $1,730 to $1,840 million, a GAAP net loss of $95 to $115 million, and Adjusted EBITDA of $370 to $410 million. By product it expects VIVITROL net sales of $460 to $480 million, LYBALVI $380 to $400 million, ARISTADA $365 to $385 million, and LUMRYZ $315 to $335 million for February 12 to December 31, 2026. (Alkermes Q3 2026 results presentation, Nov 3, 2026)

Alkermes also gave a first 2027 figure: LYBALVI gross-to-net deductions of about 45%, against about 42% in Q3 2026. Revenue for the first nine months of 2026 was $1,369.1 million. (Alkermes Q3 2026 results presentation, Nov 3, 2026; Alkermes Q3 2026 release, Nov 3, 2026)

A consensus figure is the average of the models published by the analysts who cover Alkermes, collected by a data provider and revised up to the day of the report. A quarter that lands above it says how expectations were set as much as how the business did, and the share price on the day also reflects the guidance and the lines no consensus covers.

The consensus figures on this page are Yahoo Finance's, as pulled on the date shown. Each comes with the number of analysts behind it; the smaller that number, the more one revised estimate can move the average.

The figures below are the ones Alkermes's own release and filings put weight on for Q3 2026, with the latest reported value for each.

What the quarter means for a holding is a separate question from what it reported. The case for and against owning ALKS is on is ALKS a buy or a sell?, what analysts expect next is on the ALKS forecast, and what the company does is on the Alkermes plc (ALKS) stock page.

Every number on this page can be traced to a document Alkermes published. Checking one takes a couple of minutes, and it is worth doing before you quote a figure anywhere.

• The results release is the document linked in the source line above. Companies publish it on their investor relations site at the moment results go out, and it carries the headline tables: revenue, operating income, net income and EPS for the quarter and the year-ago quarter.
• The same release is filed with the SEC as Exhibit 99.1 to a Form 8-K under Item 2.02, usually on the day of the report. The SEC copy does not change after the fact, which makes it the safer thing to link when you cite a number.
• The quarterly report (Form 10-Q) follows within a few weeks and carries the full financial statements, the segment note and management's discussion of what changed. The fourth quarter is covered by the annual report (Form 10-K) instead.
• Restated comparisons are flagged in the notes on this page. When a company redraws its segments or changes how it adjusts EPS, it restates the year-ago column, so the year-ago figure in a new release can differ from the one printed a year ago. This page always uses the comparison in the newer release, because that is the like-for-like one.

A walk-through of every line in a release, with what each one tells you, is in how to read an earnings report.