Amarin Corporation (AMRN) Q1 2026 earnings summary

Executive summary

• Achieved second consecutive quarter of positive cash flow and ended Q1 2026 with $308 million in cash and no debt.

• Total revenue for Q1 2026 was $45.1 million, up 7% year-over-year, driven by increased international sales and higher licensing and royalty revenue.

• Substantially completed global restructuring, targeting $70 million in annualized operating expense savings by end of Q2 2026, with $3.3 million in restructuring charges in Q1 2026.

• Vascepa remains U.S. market leader, with branded prescriptions up 17% year-over-year and market share rising to 48%, despite generic competition.

• European and rest-of-world revenues are growing, with significant momentum in new markets and a major partnership with Recordati driving launches in 10 countries.

Financial highlights

• Q1 2026 net revenue rose to $45.1 million from $42 million in Q1 2025, a 7% increase year-over-year.

• European revenue in Q1 2026 was $4.9 million, with a 113% sequential increase from Q4 2025, though down 9% year-over-year due to the transition to a partnering model.

• Rest-of-world revenue reached $2.8 million, compared to zero in Q1 2025, reflecting early-stage growth and new partnerships.

• Licensing and royalty revenue surged 84% to $1.8 million.

• Operating loss narrowed to $11.3 million from $16.8 million year-over-year; net loss improved to $10.5 million ($0.03 per share) from $15.7 million ($0.04 per share).

Outlook and guidance

• Expect to maintain exclusive U.S. payer contracts through 2026, supporting stable net selling price and volume.

• Confident in sustaining positive cash flow beyond 2026, contingent on retaining exclusive contracts.

• Gross margin will fluctuate based on supply shipments to partners; SG&A run rate expected to remain stable, with minimal restructuring costs ahead.

• Management expects sufficient liquidity to fund operations for at least one year from the reporting date.

• U.S. prescription volumes are expected to remain stable throughout 2026.