Amphastar Q1 net revenues flat at $171.2 million; GAAP net income falls to $6.4 million
Amphastar reported first-quarter 2026 results with net revenues essentially flat at $171.2 million, up $643 thousand from a year earlier. GAAP net income fell to $6.4 million, or $0.14 per diluted share, from $25.3 million, or $0.51, as gross margin dropped to 41.1% from 50.0%. For shareholders, the flat sales and sharply lower profit point to weaker earnings, with the company citing higher cost of revenues and research and development spending.
Key points
- Net revenues were $171.2 million versus $170.5 million in Q1 2025, a 0% change.
- GAAP net income was $6.4 million ($0.14 per diluted share) versus $25.3 million ($0.51) a year earlier.
- Adjusted non-GAAP net income was $19.5 million ($0.42 per diluted share) versus $36.9 million ($0.74).
- BAQSIMI sales fell 15% to $32.4 million, and glucagon sales fell 56% to $9.2 million; cash flow from operations was $47.8 million.
The filing
Written by AI on Nov 8, 2026, 6:59 AM ET, from this filing only. Written later: this filing was briefed after the fact, when past filings were added to the site, so the brief may be read with hindsight; the filing itself is the record of what was known on May 07, 2026.
Briefs are written by AI from the filing text and can contain mistakes — open the filing before acting on anything. Impact (1-5) and tone are the AI's reading of the filing for shareholders, not a price forecast. Not investment advice.