Lantheus (LNTH) Q2 2026 earnings summary

Executive summary

• Revenue for Q2 2026 was $388.2M, up 2.7% year-over-year, driven by Neuraceq sales post-acquisition and higher PYLARIFY and DEFINITY volumes, offset by lower PYLARIFY net price and SPECT business divestiture.

• Net income for Q2 2026 was $75.0M, down 4.7% year-over-year, with diluted EPS of $1.11; adjusted diluted EPS was $1.55, down 1.3%.

• Major strategic actions included the sale of the SPECT business, acquisition of Lantheus Biosciences and Evergreen, and a pending merger with Curium US Holdings LLC.

• Announced definitive agreement to merge with Curium in an all-cash transaction valued up to $8.0 billion, with up to $114.50 per share consideration including CVRs.

• Suspended full-year 2026 guidance and canceled earnings call due to pending merger.

Financial highlights

• Gross profit for Q2 2026 was $241.9M, nearly flat year-over-year, with gross margin impacted by increased amortization and lower PYLARIFY pricing.

• Operating income rose 13.9% to $100.2M in Q2 2026, driven by lower general and administrative expenses; adjusted operating income fell 6.9% to $142.0M.

• Cash and cash equivalents at June 30, 2026 were $593.3M, up from $359.1M at year-end 2025.

• Net cash from operating activities for the first half of 2026 was $217.3M; Q2 2026 net cash from operating activities was $92.2M.

• Access to up to $750M from a revolving credit line.

Outlook and guidance

• The pending merger with Curium is expected to close in the first half of 2027, with shareholders to receive $102.50 per share in cash plus a contingent value right up to $12.00 per share.

• PYLARIFY TruVu launch is planned for Q4 2026, with reimbursement and coding applications submitted.

• Uncertainty remains around FDA approval for LNTH-2501 due to third-party manufacturing issues.