Amphastar Pharmaceuticals Reports Financial Results for the Three Months Ended September 30, 2026

Higher quarterly earnings accompanied a lower gross margin, while the board expanded the share repurchase authorization by $50 million.

Rhea-AI Summary

Amphastar Pharmaceuticals (NASDAQ: AMPH) reported third-quarter 2026 revenue of $207.6 million, with higher sales and GAAP earnings than a year earlier. Revenue rose 8% year over year. GAAP net income reached $37.8 million, or $0.87 per diluted share, versus $17.350 million, or $0.37. Adjusted net income was $49.265 million, versus $44.696 million.

BAQSIMI sales rose 10% and Primatene MIST sales increased 9%, while epinephrine and glucagon declined. Gross margin fell to 48.0% from 51.4%, reflecting lower selling prices and higher manufacturing expenses, including remediation costs. General and administrative expenses fell 57%, largely because the prior-year quarter included a litigation provision. The board authorized a $50 million increase in the buyback program on November 4, 2026. Nine-month operating cash flow was $142.5 million.

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• Moderate pointThird-quarter revenue increased 8% to $207.608 million from $191.840 million a year earlier.
• Moderate pointThird-quarter GAAP net income rose to $37.763 million from $17.350 million; diluted EPS increased to $0.87 from $0.37.
• Moderate pointThird-quarter adjusted net income rose to $49.265 million from $44.696 million; adjusted diluted EPS reached $1.14 versus $0.93.
• Moderate pointBuyback authorization increased by $50 million on November 4, 2026. 4.2% of market cap
• Moderate pointBAQSIMI quarterly sales increased 10% to $58.804 million, primarily driven by higher unit volumes.
• Moderate pointPrimatene MIST quarterly sales rose 9% to $31.461 million, supported by higher prices and volumes.
• Moderate pointLidocaine quarterly sales increased 29% to $16.638 million, primarily reflecting demand caused by other suppliers' shortages.
• Moderate pointOther products' quarterly sales rose 9% to $70.212 million, including teriparatide and active pharmaceutical ingredient contributions.
• Moderate pointQuarterly general and administrative expenses fell 57% to $16.844 million, primarily reflecting a prior-year litigation provision.
• Moderate pointQuarterly operating income increased to $50.773 million from $25.320 million a year earlier.
• Moderate pointNine-month revenue increased to $562.682 million from $536.782 million a year earlier.
• Moderate pointNine-month GAAP net income reached $74.531 million versus $73.665 million; diluted EPS rose to $1.67 from $1.52.
• Moderate pointNine-month operating activities generated $142.5 million in cash.

7 minor points

• Minor pointIpratropium bromide generated $6.645 million in quarterly sales following its second-quarter 2026 launch.
• Minor pointQuarterly gross profit increased 1% to $99.629 million from $98.646 million.
• Minor pointQuarterly research and development expenses decreased 10% to $20.078 million, primarily reflecting a prior-year licensing payment.
• Minor pointQuarterly interest income increased 2% to $2.287 million from $2.246 million.
• Minor pointQuarterly other income, net, rose to $2.764 million from $0.231 million.
• Minor pointPipeline filings include one generic drug application and one biosimilar insulin candidate submitted to the FDA.
• Minor pointDevelopment programs include two biosimilar products and three generic products, alongside multiple proprietary products.

Negative

• Moderate pointQuarterly gross margin declined to 48.0% from 51.4%, reflecting pricing pressure and higher manufacturing expenses.
• Moderate pointEpinephrine quarterly sales fell 19% to $15.273 million, primarily reflecting slower releases during IMS remediation.
• Moderate pointGlucagon quarterly sales declined 37% to $8.575 million, primarily because competition lowered average selling prices.
• Moderate pointIMS remediation reduced sales of several other products and increased manufacturing expenses.
• Moderate pointNine-month adjusted net income fell to $109.502 million from $122.460 million; adjusted diluted EPS declined to $2.45 from $2.52.

6 minor points

• Minor pointBAQSIMI pricing changes reduced quarterly sales by approximately $2.2 million, partly offsetting volume gains.
• Minor pointRancho Cucamonga manufacturing expansion contributed to increased manufacturing expenses during the quarter.
• Minor pointQuarterly selling, distribution and marketing expenses increased 4% to $11.934 million, primarily because of freight expense.
• Minor pointQuarterly interest expense increased 8% to $6.760 million from $6.284 million.
• Minor pointNine-month gross profit declined to $263.421 million from $270.387 million a year earlier.
• Minor pointNine-month operating income decreased to $104.132 million from $104.797 million a year earlier.

News Explained

The board added $50 million to Amphastar’s buyback authorization, whose stated aim is to offset equity-compensation dilution; purchases may occur through several channels, but their timing and share count depend on price, regulatory requirements and other conditions.

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Key Figures

Net revenues: $207.6 million GAAP net income: $37,763 thousand Adjusted non-GAAP net income: $49,265 thousand +5 more

Net revenues

$207.6 million

Three months ended September 30, 2026

GAAP net income

$37,763 thousand

Three months ended September 30, 2026

Adjusted non-GAAP net income

$49,265 thousand

Three months ended September 30, 2026

GAAP diluted EPS

$0.87 per share

Three months ended September 30, 2026

Adjusted non-GAAP diluted EPS

$1.14 per share

Three months ended September 30, 2026

Gross margin

48.0%

Three months ended September 30, 2026; 51.4% in 2025

Operating cash flow

$142.5 million

Nine months ended September 30, 2026

Share buyback program increase

$50 million

Authorized November 4, 2026

Previous Earnings Reports

1 past event · Latest: Aug 06

Same Type 1 event

1. Aug 06

   Quarterly earnings

   24h Move

   +4.9%

   Q2 revenue and earnings increased year over year; operating cash flow reached $99.2 million for the first half.

24h Move is the share-price change in the day after each event; other market factors may also have contributed.

Key Terms

gaap, non-gaap, rule 10b5-1 plans, fda warning letter

4 terms

gaap financial

"GAAP net income of $37.8 million"

GAAP, or Generally Accepted Accounting Principles, are a set of standardized rules and guidelines that companies follow when preparing their financial statements. They ensure consistency, transparency, and comparability across different companies, making it easier for investors to understand and compare financial information accurately. This helps investors make informed decisions based on trustworthy and uniform financial reports.

View in glossary

non-gaap financial

"Adjusted non-GAAP net income of $49.3 million"

Non-GAAP refers to financial measures that companies use to show their earnings or performance without including certain expenses or income that are often added back to give a different picture. It matters because it can make a company's results look better or more favorable, but it may also hide important costs, so investors need to look at both GAAP (official rules) and non-GAAP numbers to get a full understanding.

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rule 10b5-1 plans financial

"pursuant to Rule 10b5-1 plans"

A Rule 10b5-1 plan is a prearranged schedule that lets company insiders buy or sell stock at set times or prices, set up when they do not possess confidential information. It acts like an automatic thermostat for trades, reducing the risk that otherwise-timed transactions could be accused of insider trading. Investors care because such plans increase transparency about insider activity and signal when insider trades are routine rather than reactive to private news.

fda warning letter regulatory

"in response to the FDA warning letter"

A FDA warning letter is a formal, written notice from the U.S. Food and Drug Administration issued after an inspection or review finds violations of FDA laws or regulations; it explains the specific violations, cites the legal or regulatory standards violated, and requests a written plan for corrective action. The letter is not a legal penalty but signals the agency expects prompt, documented fixes within a set timeframe and warns that failure to adequately respond can lead to enforcement actions such as product seizures, injunctions, civil monetary penalties, or referral for criminal prosecution; warning letters are routinely made public on the FDA website.

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• Net revenues of $207.6 million for the three months ended September 30, 2026

• GAAP net income of $37.8 million, or $0.87 per share, for the third quarter

• Adjusted non-GAAP net income of $49.3 million, or $1.14 per share, for the third quarter

• Company to hold a conference call today at 2:00 p.m. Pacific Time

RANCHO CUCAMONGA, Calif., Nov. 5, 2026 /PRNewswire/ -- Amphastar Pharmaceuticals, Inc. (NASDAQ: AMPH) ("Amphastar" or the "Company"), a biopharmaceutical company focused on developing, manufacturing, and commercializing technically challenging generic and proprietary injectable, inhalation, and intranasal products, today reported results for the three months ended September 30, 2026.

"Our third quarter results demonstrate the strength of Amphastar's diversified portfolio and the commercial platform we have built. Record sales of BAQSIMI^® and Primatene MIST^®, together with contributions from recently launched products, supported continued revenue growth and further strengthened the foundation for our long-term strategy. During the quarter, we continued to advance programs across our complex generic, biosimilar, and proprietary pipelines while investing in the manufacturing, quality and development capabilities needed to support future growth. We remain focused on disciplined execution, strengthening our operations, and deploying capital in ways that we believe can create sustainable long-term value for our shareholders," said Dr. Jack Zhang, Amphastar's President and Chief Executive Officer.

		Three Months Ended						Nine Months Ended
		September 30,						September 30,
		2026			2025			2026			2025
		(in thousands, except per share data)
Net revenues		$	207,608		$	191,840		$	562,682		$	536,782
GAAP net income		$	37,763		$	17,350		$	74,531		$	73,665
Adjusted non-GAAP net income*		$	49,265		$	44,696		$	109,502		$	122,460
GAAP diluted EPS		$	0.87		$	0.37		$	1.67		$	1.52
Adjusted non-GAAP diluted EPS*		$	1.14		$	0.93		$	2.45		$	2.52
______________________________
* Adjusted non-GAAP net income and adjusted non-GAAP diluted EPS are non-GAAP financial measures. Please see the discussion in the   section entitled "Non-GAAP Financial Measures" and the reconciliation of GAAP to non-GAAP financial measures in Table III of this   press release.

 

Third Quarter Results

		Three Months Ended
		September 30,						Change
		2026			2025			Dollars			%
		(in thousands)
Net revenues:
BAQSIMI®		$	58,804		$	53,608		$	5,196		10	%
Primatene MIST®			31,461			28,808			2,653		9	%
Lidocaine			16,638			12,932			3,706		29	%
Epinephrine			15,273			18,789			(3,516)		(19)	%
Glucagon			8,575			13,558			(4,983)		(37)	%
Ipratropium bromide			6,645			—			6,645		N/A
Other products			70,212			64,145			6,067		9	%
Total net revenues		$	207,608		$	191,840		$	15,768		8	%

Changes in net revenues as compared to the third quarter of the prior year were primarily driven by:

• BAQSIMI^® sales increased primarily due to an increase in unit volumes, contributing $7.4 million in sales driven by our continued marketing efforts. This increase was partially offset by a lower average selling price, as a result of a change in gross-to-net discounts due to changes in chargebacks and rebates and changes to the customer mix, impacting sales of approximately $2.2 million.
• Primatene MIST^® sales increased due to a higher average selling price, contributing $1.6 million in sales, as a result of a price increase that went into effect in the second quarter of 2026, and an increase in unit volumes, contributing $1.0 million in sales, as in-store demand for Primatene MIST^® continues to grow.
• Lidocaine sales increased primarily due to an increase in unit volumes as a result of an increase in demand caused by other supplier shortages.
• Ipratropium bromide continued to have strong sales during the quarter, following our launch in the second quarter of 2026.
• Epinephrine sales decreased primarily due to lower unit volumes of our pre-filled syringe product, resulting from slower product releases associated with ongoing remediation efforts at our subsidiary, International Medication Systems, Limited ("IMS").
• Glucagon sales decreased primarily due to a lower average selling price, as a result of increased competition.
• Other pharmaceutical product sales increased primarily due to sales of teriparatide of $6.4 million, which we launched in December 2025. Additionally, API sales from our subsidiary, Amphastar Nanjing Pharmaceuticals, Inc. ("ANP"), contributed $6.2 million. These increases were partially offset by a decrease in sales of several products manufactured at our IMS facility due to ongoing remediation activities.

		Three Months Ended
		September 30,						Change
		2026			2025			Dollars			%
		(in thousands)
Net revenues		$	207,608		$	191,840		$	15,768		8	%
Cost of revenues			107,979			93,194			14,785		16	%
Gross profit		$	99,629		$	98,646		$	983		1	%
as % of net revenues			48.0 %			51.4 %

Changes in the cost of revenues and gross margin were primarily driven by:

• The impact of lower average selling price for BAQSIMI^®, glucagon, and our epinephrine multi-dose vial product, which are higher margin products.
• Increased manufacturing expenses as a result of remediation efforts at our IMS facility in response to the FDA warning letter, as well as the expansion of our manufacturing facility in Rancho Cucamonga, CA.
• This was partially offset by our recently launched products, including teriparatide and ipratropium bromide, both of which are higher-margin products.

		Three Months Ended
		September 30,						Change
		2026			2025			Dollars			%
		(in thousands)
Selling, distribution, and marketing		$	11,934		$	11,505		$	429		4	%
General and administrative			16,844			39,467			(22,623)		(57)	%
Research and development			20,078			22,354			(2,276)		(10)	%

• Selling, distribution, and marketing expenses increased primarily due to increased freight expense.
• General and administrative expenses decreased primarily due to a litigation provision of $23.1 million that was recorded in the third quarter of 2025 for a litigation matter that was settled in the fourth quarter of 2025.
• Research and development expenses decreased primarily due to the $5.3 million upfront payment for the licensing agreement that we entered into with Nanjing Anji Biotechnology Co., Ltd. in the third quarter of 2025. This decrease was partially offset by an increase in material and supply expenses, primarily for our insulin and proprietary pipeline products, as well as an increase in salary and personnel-related expenses.

		Three Months Ended
		September 30,						Change
		2026			2025			Dollars			%
		(in thousands)
Non-operating expenses:
Interest income		$	2,287		$	2,246		$	41		2	%
Interest expense			(6,760)			(6,284)			(476)		8	%
Other income (expenses), net			2,764			231			2,533		NM
Total non-operating expenses, net		$	(1,709)		$	(3,807)		$	2,098		(55)	%

The change in non-operating expenses, net, is primarily a result of foreign currency fluctuation, as well as the mark-to-market adjustments relating to our interest rate swap contract during the three months ended September 30, 2026.

Cash flow provided by operating activities for the nine months ended September 30, 2026, was $142.5 million. 

Share Buyback Program

On November 4, 2026, the Company's Board of Directors authorized a $50 million increase to the Company's share buyback program, which is expected to continue for an indefinite period of time. The primary goal of the program is to offset dilution created by the Company's equity compensation programs.

Purchases may be made through the open market and private block transactions pursuant to Rule 10b5-1 plans, privately negotiated transactions, or other means, as determined by the Company's management and in accordance with the requirements of the Securities and Exchange Commission and applicable laws.

The timing and actual number of shares repurchased will depend on a variety of factors including price, corporate and regulatory requirements, and other conditions.

Pipeline Information

The Company currently has one abbreviated new drug application ("ANDA") and one biosimilar insulin candidate filed with the FDA for products targeting a combined market size exceeding $1.6 billion, along with two biosimilar products in development targeting a market size exceeding $3.5 billion, and three generic products in development targeting a market size of over $1.2 billion. This market information is based on IQVIA data for the 12 months ended September 30, 2026, supplemented by data provided by the branded company for one of the generic targets. The Company is developing multiple proprietary products with injectable, topical and intranasal dosage forms.

The Company's proprietary pipeline also includes four in-licensed products including three proprietary peptides targeting oncology and ophthalmology indications, and a fully synthetic corticotropin compound designed to address inflammatory and autoimmune conditions.

Conference Call Information

The Company will hold a conference call to discuss its financial results today, November 5, 2026, at 2:00 p.m. Pacific Time.

To access the conference call, dial toll-free (877) 407-0989 or (201) 389-0921 for international callers, ten minutes before the conference.

The call can also be accessed on the Investors page on the Company's website at www.amphastar.com.

Non-GAAP Financial Measures

To supplement its consolidated financial statements, which are prepared and presented in accordance with U.S. generally accepted accounting principles ("GAAP"), the Company is disclosing non-GAAP financial measures when providing financial results. The Company believes that an evaluation of its ongoing operations (and comparisons of its current operations with historical and future operations) would be difficult if the disclosure of its financial results were limited to financial measures prepared only in accordance with GAAP. As a result, the Company is disclosing certain non-GAAP results, including (i) Adjusted non-GAAP net income (loss) and (ii) Adjusted non-GAAP diluted EPS, which generally exclude amortization expense, share-based compensation, impairment charges, certain debt issuance costs, legal settlements, and other one-time events in order to supplement investors' and other readers' understanding and assessment of the Company's financial performance because the Company's management uses these measures internally for forecasting, budgeting, and measuring its operating performance. Whenever the Company uses such non-GAAP measures, it will provide a reconciliation of non-GAAP financial measures to their most directly comparable GAAP financial measures. Investors and other readers are encouraged to review the related GAAP financial measures and the reconciliation of non-GAAP measures to their most directly comparable GAAP measures set forth below and should consider non-GAAP measures only as a supplement to, not as a substitute for or as a superior measure to, measures of financial performance prepared in accordance with GAAP.

Market Data

This press release contains market data that we obtained from industry sources. These sources do not guarantee the accuracy or completeness of the information. Although we believe that our industry sources are reliable, we do not independently verify the information. The market data may include projections that are based on a number of other projections. While we believe these assumptions to be reasonable and sound as of the date of this press release, actual results may differ from the projections.

About Amphastar Pharmaceuticals, Inc.

Amphastar is a biopharmaceutical company that focuses on developing, manufacturing, and commercializing technically challenging generic and proprietary injectable, inhalation, and intranasal products. Additionally, the Company sells active pharmaceutical ingredient, or API products. Most of the Company's finished products are contracted and distributed through group purchasing organizations, drug wholesalers, and drug retailers. More information and resources are available at www.amphastar.com.

Amphastar's logo and other trademarks or service marks of Amphastar, including, but not limited to Amphastar^®, BAQSIMI^®, Primatene MIST^®, Amphadase^®, and Cortrosyn^®, are the property of Amphastar.

Forward-Looking Statements

All statements in this press release and in the conference call referenced above that are not historical are forward-looking statements, including, among other things, statements relating to our expectations regarding future financial performance and business trends, our future growth and our ability to continue to scale, sales and marketing of our products, market size and expansion, product portfolio, product development, our deployment of capital, the timing of FDA filings or approvals, the timing of product launches, acquisitions and other matters related to our pipeline of product candidates, the timing and results of clinical trials, the impact of our products, including their potential for continued revenue growth, the strategic trajectory of and market for our product pipeline, our long-term strategy, our ability to leverage our existing expertise and technology, the impacts of any licensing agreements and ability to commercialize additional therapies, our in-house manufacturing expertise, our ability to create value for our shareholders, our ability to deliver high-quality, affordable therapies to patients, our commercial momentum and position in the market. These statements are not facts but rather are based on Amphastar's historical performance and our current expectations, estimates, and projections regarding our business, operations, and other similar or related factors. Words such as "may," "might," "will," "could," "would," "should," "anticipate," "predict," "potential," "continue," "expect," "intend," "plan," "project," "believe," "estimate," and other similar or related expressions are used to identify these forward-looking statements, although not all forward-looking statements contain these words. You should not place undue reliance on forward-looking statements because they involve known and unknown risks, uncertainties, and assumptions that are difficult or impossible to predict and, in some cases, beyond Amphastar's control. Actual results may differ materially from those in the forward-looking statements as a result of a number of factors, including those described in Amphastar's filings with the Securities and Exchange Commission ("SEC"), including in our Annual Report on Form 10-K for the year ended December 31, 2025, filed with the SEC on February 26, 2026, in our Quarterly Report on Form 10-Q for the quarter ended March 31, 2026, filed with the SEC on May 7, 2026, in our Quarterly Report on Form 10-Q for the quarter ended June 30, 2026, filed with the SEC on August 6, 2026, in our Quarterly Report on Form 10-Q for the quarter ended September 30, 2026, filed with the SEC on November 5, 2026, and our other filings or reports that we may file with the SEC. You can locate these reports through our website at http://ir.amphastar.com and on the SEC's website at www.sec.gov. The forward-looking statements in this release speak only as of the date of the release. Amphastar undertakes no obligation to revise or update information or any forward-looking statements in this press release or the conference call referenced above to reflect events or circumstances in the future, even if new information becomes available or if subsequent events cause our expectations to change.

Table I Amphastar Pharmaceuticals, Inc. Condensed Consolidated Statement of Operations (Unaudited; in thousands, except per share data)
		Three Months Ended						Nine Months Ended
		September 30,						September 30,
		2026			2025			2026			2025
Net revenues		$	207,608		$	191,840		$	562,682		$	536,782
Cost of revenues			107,979			93,194			299,261			266,395
Gross profit			99,629			98,646			263,421			270,387
Operating expenses:
Selling, distribution, and marketing			11,934			11,505			37,196			33,606
General and administrative			16,844			39,467			53,114			69,454
Research and development			20,078			22,354			68,979			62,530
Total operating expenses			48,856			73,326			159,289			165,590
Income from operations			50,773			25,320			104,132			104,797
Non-operating expenses:
Interest income			2,287			2,246			6,974			6,256
Interest expense			(6,760)			(6,284)			(19,972)			(18,851)
Other income (expenses), net			2,764			231			6,526			(492)
Total non-operating expenses, net			(1,709)			(3,807)			(6,472)			(13,087)
Income before income taxes			49,064			21,513			97,660			91,710
Income tax provision			11,301			4,163			23,129			18,045
Net income		$	37,763		$	17,350		$	74,531		$	73,665
Net income per share:
Basic		$	0.89		$	0.38		$	1.70		$	1.57
Diluted		$	0.87		$	0.37		$	1.67		$	1.52
Weighted-average shares used to compute net income per share:
Basic			42,579			46,474			43,848			47,021
Diluted			43,377			47,677			44,687			48,565

 

Table II Amphastar Pharmaceuticals, Inc. Condensed Consolidated Balance Sheets (in thousands, except per share data)
		September 30,			December 31,
		2026			2025
		(unaudited)
ASSETS
Current assets:
Cash and cash equivalents		$	204,588		$	170,177
Restricted cash			235			235
Short-term investments			26,046			112,635
Restricted short-term investments			2,200			2,200
Accounts receivable, net			182,215			143,560
Inventories			173,920			176,890
Income tax refunds and deposits			2,532			17,167
Prepaid expenses and other assets			10,949			13,152
Total current assets			602,685			636,016
Property, plant, and equipment, net			312,871			310,567
Finance lease right-of-use assets			120			221
Operating lease right-of-use assets			75,055			42,931
Goodwill and intangible assets, net			640,429			565,965
Other assets			38,100			31,135
Deferred tax assets			42,464			42,464
Total assets		$	1,711,724		$	1,629,299
LIABILITIES AND STOCKHOLDERS' EQUITY
Current liabilities:
Accounts payable and accrued liabilities		$	168,068		$	148,348
Income taxes payable			2,143			239
Current portion of long-term debt			2,505			1,641
Current portion of operating lease liabilities			8,718			7,928
Total current liabilities			181,434			158,156
Long-term reserve for income tax liabilities			5,926			5,926
Long-term debt, net of current portion and unamortized debt issuance costs			610,497			608,749
Long-term operating lease liabilities, net of current portion			69,969			37,684
Other long-term liabilities			29,344			29,979
Total liabilities			897,170			840,494
Commitments and contingencies
Stockholders' equity:
Preferred stock: par value $0.0001; 20,000,000 shares authorized; no shares issued and outstanding			—			—
Common stock: par value $0.0001; 300,000,000 shares authorized; 62,441,273 and 42,648,323 shares issued and outstanding, respectively, as of September 30, 2026 and 61,779,883 and 45,645,497 shares issued and outstanding, respectively, as of December 31, 2025			6			6
Additional paid-in capital			562,145			535,380
Retained earnings			741,412			666,881
Accumulated other comprehensive loss			(6,020)			(5,314)
Treasury stock			(482,989)			(408,148)
Total stockholders' equity			814,554			788,805
Total liabilities and stockholders' equity		$	1,711,724		$	1,629,299

 

Table III Amphastar Pharmaceuticals, Inc. Reconciliation of Non-GAAP Measures (Unaudited; in thousands, except per share data)
		Three Months Ended						Nine Months Ended
		September 30,						September 30,
		2026			2025			2026			2025
GAAP net income		$	37,763		$	17,350		$	74,531		$	73,665
Adjusted for:
Intangible asset amortization			7,394			6,269			19,933			18,778
Share-based compensation			7,007			6,297			23,371			21,072
Impairment of long-lived assets			436			—			436			—
Litigation provision			—			23,147			1,000			23,147
Income tax provision on pre-tax adjustments			(3,335)			(8,367)			(9,769)			(14,202)
Adjusted non-GAAP net income		$	49,265		$	44,696		$	109,502		$	122,460
Adjusted non-GAAP net income per share:
Basic		$	1.16		$	0.96		$	2.50		$	2.60
Diluted		$	1.14		$	0.93		$	2.45		$	2.52
Weighted-average shares used to compute adjusted non-GAAP net income per share:
Basic			42,579			46,474			43,848			47,021
Diluted			43,377			47,677			44,687			48,565

 

		Three Months Ended September 30, 2026
					Selling,			General			Research
		Cost of			distribution			and			and			Income
		revenue			and marketing			administrative			development			tax provision
GAAP		$	107,979		$	11,934		$	16,844		$	20,078		$	11,301
Intangible asset amortization			(7,373)			—			(1)			(20)			—
Share-based compensation			(1,408)			(348)			(4,586)			(665)			—
Impairment of long-lived assets			(436)			—			—			—			—
Income tax provision on pre-tax adjustments			—			—			—			—			3,335
Non-GAAP		$	98,762		$	11,586		$	12,257		$	19,393		$	14,636

 

		Three Months Ended September 30, 2025
					Selling,			General			Research
		Cost of			distribution			and			and			Income
		revenue			and marketing			administrative			development			tax provision
GAAP		$	93,194		$	11,505		$	39,467		$	22,354		$	4,163
Intangible asset amortization			(6,248)			—			(1)			(20)			—
Share-based compensation			(1,274)			(301)			(4,140)			(582)			—
Litigation provision			—			—			(23,147)			—			—
Income tax provision on pre-tax adjustments			—			—			—			—			8,367
Non-GAAP		$	85,672		$	11,204		$	12,179		$	21,752		$	12,530

 

		Nine Months Ended September 30, 2026
					Selling,			General			Research
		Cost of			distribution			and			and			Income
		revenue			and marketing			administrative			development			tax provision
GAAP		$	299,261		$	37,196		$	53,114		$	68,979		$	23,129
Intangible asset amortization			(19,873)			—			(2)			(58)			—
Share-based compensation			(5,421)			(1,067)			(14,236)			(2,647)			—
Impairment of long-lived assets			(436)			—			—			—			—
Litigation provision			—			—			(1,000)			—			—
Income tax provision on pre-tax adjustments			—			—			—			—			9,769
Non-GAAP		$	273,531		$	36,129		$	37,876		$	66,274		$	32,898

 

		Nine Months Ended September 30, 2025
					Selling,			General			Research
		Cost of			distribution			and			and			Income
		revenue			and marketing			administrative			development			tax provision
GAAP		$	266,395		$	33,606		$	69,454		$	62,530		$	18,045
Intangible asset amortization			(18,718)			—			(2)			(58)			—
Share-based compensation			(5,012)			(925)			(12,777)			(2,358)			—
Litigation provision			—			—			(23,147)			—			—
Income tax provision on pre-tax adjustments			—			—			—			—			14,202
Non-GAAP		$	242,665		$	32,681		$	33,528		$	60,114		$	32,247

 

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SOURCE Amphastar Pharmaceuticals, Inc.

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What were Amphastar's third-quarter 2026 revenue and earnings?

Amphastar reported revenue of $207.6 million and GAAP net income of $37.8 million, or $0.87 per diluted share. Revenue increased 8% year over year. Adjusted net income was $49.265 million, or $1.14 per diluted share.

How much did Amphastar increase its share buyback authorization?

The board authorized a $50 million increase in Amphastar's share buyback program on November 4, 2026. The company expects the program to continue for an indefinite period.

Why is Amphastar repurchasing shares, and how can purchases be made?

Amphastar gives offsetting dilution from equity compensation programs as the buyback program's primary goal. Purchases may occur through open-market transactions, private block transactions under Rule 10b5-1 plans, privately negotiated transactions or other means. Timing and actual share purchases depend on price, corporate and regulatory requirements, and other conditions.