Axsome Therapeutics (AXSM) Earnings: Q3 2026 Results

The quarter ended September 30, 2026 and Axsome Therapeutics published the results on November 2, 2026. Revenue and diluted EPS are shown against Q3 2025, the same quarter a year earlier, which takes seasonal swings out of the comparison.

• Axsome's SUNOSI revenue of $48.2 million includes $38.5 million of net product sales, $1.2 million of royalties from out-licensed territories and an $8.5 million sales-based milestone under its license agreement with Pharmanovia. Product rows are in millions as the release prints them.
• Axsome's release gives no revenue or earnings guidance. Its only financial guidance is that current cash is sufficient to fund anticipated operations into cash flow positivity.

Source: Axsome Therapeutics Q3 2026 results, November 2, 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 Axsome Therapeutics 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.

• Axsome Therapeutics's AUVELITY revenue was $208 million in Q3 2026, up 53% from $136 million in Q3 2025, 80% of total revenue.
• Axsome Therapeutics's SUNOSI revenue was $48.2 million in Q3 2026, up 47% from $32.8 million in Q3 2025, 19% of total revenue.
• Axsome Therapeutics's SYMBRAVO revenue was $3.9 million in Q3 2026, up 86% from $2.1 million in Q3 2025, 2% 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.

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

GAAP total revenues and net loss per common share, basic and diluted, each as first reported in that quarter's release.

We do not hold a confirmed date for Axsome Therapeutics'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 2, 2026

Axsome Therapeutics reported total revenues of $259.7 million for Q3 2026, up 52% from $171.0 million. Product sales, net were $250.0 million and royalty and milestone revenue $9.7 million. Axsome sells three central nervous system drugs in the U.S.: AUVELITY, SUNOSI and SYMBRAVO. (Axsome Therapeutics Q3 2026 release, Nov 2, 2026)

AUVELITY, approved for major depressive disorder in adults and for agitation associated with dementia due to Alzheimer's disease, is about four-fifths of revenue: $207.6 million, up 53%. About 302,000 AUVELITY prescriptions were written in the quarter, up 40% year over year, and new-to-brand prescriptions rose 44%. Among patients aged 65 and older, new-to-brand prescriptions rose 211% and total prescriptions 101%. (Axsome Therapeutics Q3 2026 release, Nov 2, 2026)

SUNOSI, for excessive daytime sleepiness in obstructive sleep apnea or narcolepsy, brought in $48.2 million, up 47%, though that includes an $8.5 million sales-based milestone from Pharmanovia; SUNOSI net product sales were $38.5 million against $31.6 million. SYMBRAVO, a migraine treatment, had net product sales of $3.9 million, up 88%, on about 25,000 prescriptions. (Axsome Therapeutics Q3 2026 release, Nov 2, 2026; Axsome Therapeutics Form 10-Q, Q3 2026, Nov 2, 2026)

Axsome's sales run through a few buyers. Its three largest customers represented about 39%, 27% and 24% of gross product sales in the first nine months of 2026. Payer coverage for AUVELITY is about 89% of all lives, including about 82% of commercial lives and 100% of Medicare and Medicaid lives. (Axsome Therapeutics Form 10-Q, Q3 2026, Nov 2, 2026; Axsome Therapeutics Q3 2026 release, Nov 2, 2026)

Axsome Therapeutics' net loss narrowed to $12.9 million, or $(0.25) per share, from $47.2 million, or $(0.94). Axsome reports no adjusted EPS. The net loss includes $26.4 million of stock-based compensation expense. (Axsome Therapeutics Q3 2026 release, Nov 2, 2026)

Revenue grew faster than spending. SG&A rose to $203.1 million from $150.2 million on commercialization activities for AUVELITY and SYMBRAVO, and R&D to $50.6 million from $40.2 million for clinical programs in solriamfetol, AXS-14 and AXS-05. The contingent consideration line swung to a $2.4 million gain from a $13.2 million loss a year earlier, which also narrowed the operating loss to $11.1 million from $46.1 million. (Axsome Therapeutics Q3 2026 release, Nov 2, 2026)

Weighted average shares were 52,445,193 against 50,021,851 a year earlier. Cash and cash equivalents were $313.9 million at September 30, 2026, against $322.9 million at December 31, 2025. (Axsome Therapeutics Q3 2026 release, Nov 2, 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.

Axsome Therapeutics does not publish a revenue or earnings outlook in its release. Its financial guidance is that current cash is sufficient to fund anticipated operations into cash flow positivity, based on its current operating plan. (Axsome Therapeutics Q3 2026 release, Nov 2, 2026)

Axsome lists upcoming milestones instead: the FDA's PDUFA target action date of May 1, 2027 for AXS-12 in cataplexy in narcolepsy, topline Phase 3 results for solriamfetol in binge eating disorder in the first quarter of 2027, and SUMMIT Phase 3 results for AXS-05 in smoking cessation in the second half of 2027. (Axsome Therapeutics Q3 2026 release, Nov 2, 2026)

A consensus figure is the average of the models published by the analysts who cover Axsome Therapeutics, 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 Axsome Therapeutics'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 AXSM is on is AXSM a buy or a sell?, what analysts expect next is on the AXSM forecast, and what the company does is on the Axsome Therapeutics (AXSM) stock page.

Every number on this page can be traced to a document Axsome Therapeutics 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.