Jazz Pharmaceuticals (JAZZ) Q2 2026 earnings summary

Executive summary

• Achieved record Q2 2026 revenues of $1.21 billion, up 16% year-over-year, driven by strong commercial execution and growth in sleep, epilepsy, and oncology franchises.

• Raised full-year 2026 revenue guidance to $4.60–$4.75 billion, reflecting robust demand, portfolio diversification, and limited generic impact.

• Prepared for near-term launch of zanidatamab in HER2-positive 1L GEA, with PDUFA date set for August 25, 2026.

• Oncology portfolio revenue grew 32% year-over-year, with strong launches and market share gains in key products.

• Strong cash generation with $824 million from operations in 1H26 and $2.2 billion in cash and investments at quarter-end.

Financial highlights

• Q2 2026 revenues reached $1.21 billion, a 16% increase over Q2 2025, with product sales up 17% and oncology sales up 32%.

• Non-GAAP adjusted EPS was $5.71, including $0.94 in IPR&D charges; GAAP EPS was $2.78.

• Operating cash flow for the first half of 2026 totaled $824 million.

• Cash, cash equivalents, and investments totaled $2.2 billion as of June 30, 2026; long-term debt was $4.4 billion.

• Paid off $1.0 billion in 2026 convertible notes during the quarter, strengthening the balance sheet.

Outlook and guidance

• Full-year 2026 revenue guidance raised to $4.60–$4.75 billion, driven by strong portfolio performance and new launches.

• Double-digit growth expected for Xywav and combined rare sleep, epilepsy, and oncology franchises.

• Rare sleep franchise revenue guidance set at $2.025–$2.125 billion for 2026.

• Non-GAAP gross margin expected at 90–91%; SG&A at $1.33–$1.37 billion; R&D at $725–$775 million; effective tax rate at 11.5–13.5%.

• Updated share count guidance to 69–70 million shares due to higher stock price.