Ligand reported third-quarter 2026 results on October 29, 2026. Royalty revenue rose 51% to $70.3 million, helped by the XOMA acquisition, but total revenues and income fell 32% to $78.7 million against a prior-year period that included Pelthos divestiture income, and the company posted a GAAP net loss of $28.5 million. Ligand raised its full-year adjusted EPS guidance while reaffirming its revenue guidance, but the company's adjusted EPS excludes items such as share-based compensation and mark-to-market investment losses that affected GAAP results.
Third-quarter royalty revenue rose 51% year-over-year to $70.3 million, while total revenues and income fell 32% to $78.7 million from $115.5 million, largely due to $53.1 million of prior-year Pelthos income.
GAAP net loss was $28.5 million, or $1.43 per share, versus GAAP net income of $117.3 million, or $5.68 per diluted share, a year earlier; the quarter included $39.5 million of pre-tax investment losses.
Third-quarter adjusted EPS was $2.67, compared with $3.09, a decrease of 14%.
2026 adjusted EPS guidance was raised to approximately $9.50 to $9.75 from $9.00 to $9.50; total revenue guidance of $270 million to $310 million was reaffirmed.
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From Ligand Pharmaceuticals, Inc.'s 10-Q and 10-K filings (SEC XBRL). YoY compares each quarter with the same quarter a year earlier; it is blank when the year-ago figure is missing or negative.
Annual results
Fiscal year
Revenue
Growth
EPS (diluted)
Growth
Net margin
FY2025
$268.09M
+60.4%
$6.13
—
46.4%
FY2024
$167.13M
+27.3%
$-0.22
-107.5%
-2.4%
FY2023
$131.31M
-33.1%
$2.94
—
39.7%
FY2022
$196.25M
-18.8%
$-1.98
-159.8%
-17.0%
FY2021
$241.54M
+47.7%
$3.31
—
23.7%
Frequently asked questions
When is Ligand Pharmaceuticals's next earnings date?
Ligand Pharmaceuticals has not announced a report date within the next three weeks. US companies usually report three to six weeks after each quarter ends; this page updates as soon as the date is on the calendar.
What did Ligand Pharmaceuticals earn last quarter?
For the quarter ended Sep 2026, Ligand Pharmaceuticals reported diluted EPS of $-1.43 (-125.2% year over year) on revenue of $78.75M (-31.8%).
Where do these numbers come from?
Reported revenue, net income and EPS come from the company's own 10-Q and 10-K filings with the SEC (XBRL data). The report date and consensus estimate come from the Nasdaq earnings calendar.
Not investment advice. Figures can be restated by the company in later filings.