MannKind Corporation (MNKD) Earnings: Q3 2026 Results

The quarter ended September 30, 2026 and MannKind Corporation published the results on November 5, 2026. Revenue and diluted EPS are shown against Q3 2025, the same quarter a year earlier, which takes seasonal swings out of the comparison. MannKind Corporation reports EPS two ways: GAAP, under the accounting rules every US filer follows, and non-GAAP, per basic share, which leaves out items the company considers outside its operating results. The release reconciles the two, and when they diverge, the reconciliation says why.

• MannKind reports in thousands; figures here are in millions.
• MannKind acquired scPharmaceuticals, maker of Furoscix, on October 7, 2025, so Q3 2025 has no Furoscix revenue.
• MannKind's non-GAAP EPS is calculated on basic weighted-average shares.

Source: MannKind Q3 2026 results, November 5, 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 MannKind Corporation 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.

• MannKind Corporation's Royalties revenue was $37.5 million in Q3 2026, up 12% from $33.3 million in Q3 2025, 37% of total revenue.
• MannKind Corporation's Furoscix revenue was $22.4 million in Q3 2026, 22% of total revenue.
• MannKind Corporation's Collaborations and services revenue was $19.4 million in Q3 2026, down 27% from $26.5 million in Q3 2025, 19% of total revenue.
• MannKind Corporation's Afrezza revenue was $19.3 million in Q3 2026, up 5% from $18.5 million in Q3 2025, 19% of total revenue.
• MannKind Corporation's V-Go revenue was $3.3 million in Q3 2026, down 14% from $3.8 million in Q3 2025, 3% 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

MannKind gives no numeric revenue or EPS guidance. The first line is from CEO Michael Castagna; the second refers to ralinepag DPI, which United Therapeutics plans to take into clinical development.

In its Q3 2026 release, MannKind Corporation said:

“Furoscix ReadyFlow is off to an exceptionally strong start, and we believe Furoscix will generate more revenue in the fourth quarter than it did in the first half of 2026.”

“Anticipate earning $15 million in milestone payments in 2027”

Source: MannKind Q3 2026 release, Nov 5, 2026.

This is the company's own guidance as of Nov 5, 2026, quoted as given. Walnut does not make forecasts of its own. Analyst estimates for the coming quarters are on the MNKD forecast page.

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

Total revenues and diluted net (loss) income per share, each as first reported in that quarter's release.

We do not hold a confirmed date for MannKind Corporation'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 5, 2026

MannKind's total revenues rose 24% to $101.9 million in Q3 2026 from $82.1 million a year earlier. Royalties on United Therapeutics' (UT's) net sales of Tyvaso DPI were the largest line at $37.5 million, up from $33.3 million. Collaborations and services revenue, from Tyvaso DPI supplies MannKind manufactures for UT, fell 27% to $19.4 million on lower product sold to UT. MannKind says UT gives notice of its next-year purchase quantity by October 15th each year, and quarterly swings reflect delivery timing. (MannKind Q3 2026 release, Nov 5, 2026; MannKind Form 10-Q, Q3 2026, Nov 5, 2026)

MannKind's commercial product revenue rose 102% to $45.0 million. Furoscix, acquired with scPharmaceuticals in October 2025, added $22.4 million; Afrezza net sales were $19.3 million, up from $18.5 million; and V-Go fell to $3.3 million from $3.8 million. Furoscix ReadyFlow was approved and began shipping in mid-September, and about 75% of Furoscix shipments had moved to ReadyFlow by late October. (MannKind Q3 2026 release, Nov 5, 2026)

MannKind said Afrezza total prescriptions rose about 17% from Q2 2026 on early uptake after the pediatric launch. All 60 priority pediatric institutions have prescribed Afrezza, and about 2,000 pediatric patients have been treated since launch. (MannKind Q3 2026 release, Nov 5, 2026)

MannKind's revenue is concentrated. UT accounted for about 56% of consolidated revenues in Q3 2026, against 72% a year earlier, and one commercial customer accounted for 23%. (MannKind Form 10-Q, Q3 2026, Nov 5, 2026)

MannKind's net loss was $23.2 million, or $(0.07) per diluted share, in Q3 2026, against net income of $8.0 million, or $0.03, a year earlier. Selling, general and administrative expenses rose 111% to $61.4 million from $29.1 million with Furoscix promotion, a larger field team and the ReadyFlow and pediatric Afrezza launches, and amortization of acquired intangibles added $5.2 million. Commercial cost of goods sold rose to $11.2 million from $4.5 million; MannKind said the Furoscix on-body infusor carries a lower gross margin percentage than Afrezza. (MannKind Q3 2026 release, Nov 5, 2026)

MannKind's interest expense rose to $7.6 million from $1.4 million, and other expense, net, was $11.5 million. Its non-GAAP adjusted net loss was $3.6 million, or $(0.01) per basic share, against non-GAAP net income of $22.4 million, or $0.07. The non-GAAP figure adds back $11.6 million of expense related to contingent consideration, stock compensation ($6.4 million) and amortization of acquired intangibles, and subtracts the sold portion of royalty revenue. (MannKind Q3 2026 release, Nov 5, 2026)

MannKind's weighted-average share count was 320,182 thousand, against 311,638 thousand diluted shares a year earlier. It closed a $50 million private placement on July 24, 2026, whose proceeds funded the $45 million CVR payment triggered by FDA approval of Furoscix ReadyFlow. Cash, cash equivalents and investments were $96.6 million at September 30, 2026, and its term loan was carried at $319.4 million. (MannKind Q3 2026 release, Nov 5, 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.

MannKind gives no numeric revenue or EPS guidance in its release. CEO Michael Castagna said he believes Furoscix will generate more revenue in Q4 2026 than it did in the first half of 2026. MannKind also expects to earn $15 million of milestone payments in 2027 related to ralinepag DPI, which United Therapeutics plans to take into clinical development. (MannKind Q3 2026 release, Nov 5, 2026)

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

Every number on this page can be traced to a document MannKind Corporation 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.