Amarin Reports 2026 First Quarter Financial Results
Rhea-AI Summary
Amarin (NASDAQ: AMRN) reported Q1 2026 results: Total net revenue $45.1M (up 7% vs Q1 2025), product revenue $43.3M, licensing & royalties $1.8M (up 84%), and cash of $307.8M as of March 31, 2026. Operating expenses fell 31% to $29.1M; operating loss narrowed to $(11.3)M and net loss improved to $(10.5)M.
The company generated positive cash flow for a second consecutive quarter, reiterated expectation for full-year 2026 positive cash flow, and cited international partnership-driven European growth and updated clinical guidelines supporting icosapent ethyl.
Positive
- Total net revenue +7% to $45.1M in Q1 2026
- Licensing & royalties +84% to $1.8M
- Operating expenses down 31% to $29.1M
- Cash balance of $307.8M and positive cash flow for two consecutive quarters
- Operating loss narrowed to $11.3M; net loss improved to $10.5M
Negative
- Cost of goods sold increased 62% to $27.4M
- Restructuring charge of $3.3M in Q1 and $39.6M cumulative restructuring through Q1 2026
- European product revenue slightly declined versus prior-year quarter during transition to partnered model
News Market Reaction – AMRN
On the day this news was published, AMRN gained 2.36%, reflecting a moderate positive market reaction. This price movement added approximately $7M to the company's valuation, bringing the market cap to $285.44M at that time.
Data tracked by StockTitan Argus on the day of publication.
Key Figures
Market Reality Check
Peers on Argus
AMRN’s modest 0.22% gain occurs while peers show mixed moves: EBS up 1.6%, OGN up 0.99%, ESPR down 1.04%. Only ESPR appears in the momentum scanner, suggesting AMRN’s action is stock‑specific, driven by its earnings report.
Previous Earnings Reports
| Date | Event | Sentiment | Move | Catalyst |
|---|---|---|---|---|
| Feb 25 | Q4/FY 2025 earnings | Neutral | -9.5% | Reported Q4/FY 2025 results with narrowed operating loss and strong cash position. |
| Oct 29 | Q3 2025 earnings | Positive | -11.3% | Q3 2025 revenue growth, margin improvement, and major SG&A reductions post‑restructuring. |
| Jul 30 | Q2 2025 earnings | Neutral | +2.2% | Q2 2025 results with higher total revenue but a net loss and restructuring plans. |
| May 07 | Q1 2025 earnings | Negative | -0.1% | Q1 2025 revenue decline, net loss, and early signs of European growth. |
| Mar 12 | Q4 2024 earnings | Negative | -14.9% | Q4 2024 revenue decline, sizable net loss, and ADS ratio change for listing compliance. |
Earnings releases often saw negative price reactions, even when highlighting operational improvements and cost savings.
Over the past year, Amarin’s earnings updates have focused on restructuring, the Recordati partnership, and driving cost savings toward a targeted $70M. Prior quarters showed narrowed operating losses, strong cash positions above $280M, and a shift to a partnered international model. Yet, price reactions were frequently negative (e.g., -9.47%, -11.25%, -14.94%). Today’s Q1 2026 report continues themes of tighter expenses, improved losses, and solid cash, fitting this ongoing transition narrative.
Historical Comparison
In the last five earnings releases, AMRN’s average move was -6.72%, often negative despite operational improvements. Today’s Q1 2026 earnings fit into this pattern of fundamental progress amid a challenging share-price backdrop.
Earnings over 2024–2025 show a shift to a partnered European model, a global restructuring targeting $70M in savings, and steadily narrowing operating losses while maintaining a cash-rich, debt-free balance sheet.
Market Pulse Summary
This announcement highlights Q1 2026 progress under Amarin’s refined model: total net revenue reached $45.1M, operating expenses declined to $29.1M, and net loss narrowed to $10.5M while cash rose to $307.8M with no debt mentioned. Recent earnings history shows repeated focus on restructuring, Recordati-driven European commercialization, and cost savings toward $70M. Investors may watch future quarters for sustained revenue growth, stable U.S. volumes, and continued cash-flow positivity.
Key Terms
icosapent ethyl medical
triglycerides medical
statin medical
pharmacy benefit manager financial
PBM financial
COGS financial
SG&A financial
R&D financial
AI-generated analysis. Not financial advice.
Total Revenue Increased Led by Higher International Sales
Generated Positive Cash Flow and Reiterates Expectation for Full Year Positive Cash Flow
Recently Updated Industry Guidelines Expand Global Medical Society Endorsements Supporting the Use of Icosapent Ethyl (IPE) in Contemporary Lipid and Cardiovascular Risk Management
DUBLIN, Ireland and BRIDGEWATER, N.J., April 29, 2026 (GLOBE NEWSWIRE) -- Amarin Corporation plc (NASDAQ: AMRN), a company committed to advancing the science of cardiovascular disease worldwide, today announced financial results for the first quarter ended March 31, 2026 (Q1 2026).
“Our results for Q1 2026 reflected the early yet measurable progress generated by our refined global business model which we adopted in mid-2025,” said Aaron Berg, President and Chief Executive Officer.
“The promise of our fully-partnered international commercial strategy – anchored by our European-focused exclusive licensing and supply agreement with Recordati S.p.A. (Recordati) - was reflected in higher European product revenue in Q1 2026 compared to Q4 2025. This consecutive quarterly growth was attributable to strong in-market demand for VAZKEPA® (icosapent ethyl) and the priority assigned by Recordati to expand the commercial reach for this proven therapy. While acknowledging that European sales will vary quarter to quarter, especially in the early days of this new partnership, these initial results are encouraging. Recordati has commenced commercial efforts of VAZKEPA in 10 countries, including a Q4 2025 launch in Italy, and plans to expand its distribution across Europe over the next several years. We are also seeing good growth from our active commercial partners outside of Europe.”
“Our U.S. franchise continues to demonstrate remarkable resilience, where we have maintained our leading market share for VASCEPA® more than five years since the introduction of generics. Industry prescription data for Q1 2026 showed an overall increase in the icosapent ethyl (IPE) market while VASCEPA-branded prescriptions rose by
He continued, “We are encouraged by the 2026 American College of Cardiology (ACC) / American Heart Association (AHA)/Multisociety Dyslipidemia Guideline Update from March of this year that supports the broader clinical role of IPE in reducing cardiovascular (CV) risk in statin-treated patients with elevated triglycerides. These guidelines shift CV care toward early, lifelong prevention and a more comprehensive risk approach beyond just lowering LDL cholesterol. In recognizing that high triglyceride levels contribute to CV events in many patients, this framework underscores the need for additional therapies beyond statins to address this care gap. This evolutionary perspective on CV risk management is timely and strengthens our position to address the burden of CV disease in patients and across the healthcare ecosystem.”
Mr. Berg concluded, “We have created a new version of Amarin – focused, leaner, and both financially and operationally stronger than at any time in our recent history. The growth initiatives we have undertaken and building industry tailwinds increasingly focused on the needs of patients with elevated triglycerides have positioned us well for 2026. Our team is executing with focus and discipline to achieve our objectives and deliver shareholder value, while continuing to work closely with Barclay’s, our exclusive financial advisor, in exploring additional potential pathways to further enhance shareholder value. While there is still work to be done, we look forward to our future with confidence.”
Q1 2026 Financial Highlights
| ($ in millions) | Q1 2026 | Q1 2025 | % Change | ||
| Total Net Revenue | |||||
| Operating Expenses | (31)% | ||||
| Operating Loss Operating Margin % * | (25)% | (40)% | (32)% NM | ||
| Net Loss Net Margin | (23)% | (37)% | (33)% NM | ||
| Cash | |||||
| * Operating margin is calculated as operating loss divided by total net revenue. NM – Not Meaningful | |||||
Peter Fishman, Amarin’s Chief Financial Officer, said, “We are encouraged by our Q1 2026 performance under our new business model. We achieved higher total revenue, led by growth from our partners, and a continued decline in our operating expenses, both of which led to significantly narrowed losses compared to the same period last year. We remain on track to realize the approximately
Q1 2026 Financial Performance
Comparisons to Q1 2025, unless otherwise stated
Revenues
| ($ in millions) | Q1 2026 | Q1 2025 | % Change | ||
| Product Revenue, net: U.S. Europe Rest-of-World (ROW) | (0)% (9)% NM | ||||
| Total Product Revenue, net | |||||
| Licensing & Royalties | |||||
| Total Net Revenue | |||||
| NM - Not Meaningful | |||||
Total Net Revenue: Increased
Operating Expenses
Comparisons to Q1 2025, unless otherwise stated
| ($ in millions) | Q1 2026 | Q1 2025 | % Change | |
| COGS | ||||
| SG&A | (42)% | |||
| R&D | (12)% | |||
| Restructuring | -- | NM | ||
| Total Operating Expenses * | (31)% | |||
| * Total operating expenses reflect the sum of SG&A, R&D, and Restructuring expenses. NM - Not Meaningful | ||||
Total Operating Expenses: Decreased
COGS: Increased
SG&A: Decreased
R&D: Consistent with the prior year period.
Restructuring: The Company recognized
Additional Q1 2026 Financial Information
Comparisons to Q1 2025, unless otherwise stated
Operating Loss: Narrowed to
Net Loss: Improved to
Cash: Reported aggregate cash and investments rose to
Debt: Remained debt free as of March 31, 2026.
First Quarter 2026 Earnings Conference Call and Webcast Information
Amarin will host a conference call on April 29, 2026, at 8:00 a.m. ET to discuss this information. The conference call can be accessed on the investor relations section of the Company's website at www.amarincorp.com, or via telephone by dialing 888-506-0062 within the United States, 973-528-0011 from outside the United States, and referencing conference ID 543818. A replay of the webcast will be made available until October 29, 2026. To listen to a replay of the call, dial 877-481-4010 from within the United States and 919-882-2331 from outside of the United States, and reference conference ID 53836. A replay of the call will also be available through the Company's website shortly after the call.
About Amarin
Amarin is a global pharmaceutical company committed to reducing the cardiovascular disease (CVD) burden for patients and communities and to advancing the science of cardiovascular care around the world. We own and support a global branded product approved by multiple regulatory authorities based on a track record of proven efficacy and safety and backed by robust clinical trial evidence. Our commercialization model includes a direct sales approach in the U.S. and an indirect distribution strategy internationally, through a syndicate of reputable and well-established partners with significant geographic expertise, covering close to 100 markets worldwide. Our success is driven by a dedicated, talented, and highly skilled team of experts passionate about the fight against the world’s leading cause of death, CVD.
About VASCEPA®/VAZKEPA® (icosapent ethyl) Capsules
VASCEPA (icosapent ethyl) capsules are the first prescription treatment approved by the U.S. Food and Drug Administration (FDA) comprised solely of the active ingredient, icosapent ethyl (IPE), a unique form of eicosapentaenoic acid. VASCEPA was launched in the United States in January 2020 as the first drug approved by the U.S. FDA for treatment of the studied high-risk patients with persistent cardiovascular risk despite being on statin therapy. VASCEPA was initially launched in the United States in 2013 based on the drug’s initial FDA approved indication for use as an adjunct therapy to diet to reduce triglyceride levels in adult patients with severe (≥500 mg/dL) hypertriglyceridemia. Since launch, VASCEPA has been prescribed more than twenty-five million times. VASCEPA is covered by most major medical insurance plans. In addition to the United States, VASCEPA is approved and sold in Canada, China, Australia, Lebanon, the United Arab Emirates, Saudi Arabia, Qatar, Bahrain, and Kuwait. In Europe, in March 2021 marketing authorization was granted to icosapent ethyl in the European Union for the reduction of risk of cardiovascular events in patients at high cardiovascular risk, under the brand name VAZKEPA. In April 2021 marketing authorization for VAZKEPA (icosapent ethyl) was granted in the United Kingdom (applying to England, Scotland, Wales, and Northern Ireland). VAZKEPA (icosapent ethyl) is currently approved and sold in Europe in Sweden, Finland, England/Wales, Spain, Netherlands, Scotland, Greece, Portugal, Italy, Denmark and Austria.
United States Indications and Limitation of Use
VASCEPA is indicated:
- As an adjunct to maximally tolerated statin therapy to reduce the risk of myocardial infarction, stroke, coronary revascularization and unstable angina requiring hospitalization in adult patients with elevated triglyceride (TG) levels (≥ 150 mg/dL) and established cardiovascular disease or diabetes mellitus and two or more additional risk factors for cardiovascular disease.
- As an adjunct to diet to reduce TG levels in adult patients with severe (≥ 500 mg/dL) hypertriglyceridemia.
The effect of VASCEPA on the risk for pancreatitis in patients with severe hypertriglyceridemia has not been determined.
Important Safety Information
- VASCEPA is contraindicated in patients with known hypersensitivity (e.g., anaphylactic reaction) to VASCEPA or any of its components.
- VASCEPA was associated with an increased risk (
3% vs2% ) of atrial fibrillation or atrial flutter requiring hospitalization in a double-blind, placebo-controlled trial. The incidence of atrial fibrillation was greater in patients with a previous history of atrial fibrillation or atrial flutter. - It is not known whether patients with allergies to fish and/or shellfish are at an increased risk of an allergic reaction to VASCEPA. Patients with such allergies should discontinue VASCEPA if any reactions occur.
- VASCEPA was associated with an increased risk (
12% vs10% ) of bleeding in a double-blind, placebo-controlled trial. The incidence of bleeding was greater in patients receiving concomitant antithrombotic medications, such as aspirin, clopidogrel or warfarin. - Common adverse reactions in the cardiovascular outcomes trial (incidence ≥
3% and ≥1% more frequent than placebo): musculoskeletal pain (4% vs3% ), peripheral edema (7% vs5% ), constipation (5% vs4% ), gout (4% vs3% ), and atrial fibrillation (5% vs4% ). - Common adverse reactions in the hypertriglyceridemia trials (incidence >
1% more frequent than placebo): arthralgia (2% vs1% ) and oropharyngeal pain (1% vs0.3% ). - Adverse events may be reported by calling 1-855-VASCEPA or the FDA at 1-800-FDA-1088.
- Patients receiving VASCEPA and concomitant anticoagulants and/or anti-platelet agents should be monitored for bleeding.
FULL U.S. FDA-APPROVED VASCEPA PRESCRIBING INFORMATION CAN BE FOUND AT WWW.VASCEPA.COM
Europe
For further information about the Summary of Product Characteristics (SmPC) for VAZKEPA® in Europe, please visit: https://www.ema.europa.eu/en/documents/product-information/vazkepa-epar-product-information_en.pdf
Globally, prescribing information varies; refer to the individual country product label for complete information.
Use of Non-GAAP Adjusted Financial Information
Included in this press release are non-GAAP adjusted financial information as defined by U.S. Securities and Exchange Commission Regulation G. The GAAP financial measure is most directly comparable to each non-GAAP adjusted financial measure used or discussed, and a reconciliation of the differences between each non-GAAP adjusted financial measure and the comparable GAAP financial measure, is included in this press release after the condensed consolidated financial statements.
Non-GAAP adjusted net (loss) income was derived by taking GAAP net loss and adjusting it for non-cash stock-based compensation expense, restructuring expense and other one-time expenses. Management uses these non-GAAP adjusted financial measures for internal reporting and forecasting purposes, when publicly providing its business outlook, to evaluate the company’s performance and to evaluate and compensate the company’s executives. The company has provided these non-GAAP financial measures in addition to GAAP financial results because it believes that these non-GAAP adjusted financial measures provide investors with a better understanding of the company’s historical results from its core business operations.
While management believes that these non-GAAP adjusted financial measures provide useful supplemental information to investors regarding the underlying performance of the company’s business operations, investors are reminded to consider these non-GAAP measures in addition to, and not as a substitute for, financial performance measures prepared in accordance with GAAP. Non-GAAP measures have limitations in that they do not reflect all the amounts associated with the company’s results of operations as determined in accordance with GAAP. In addition, it should be noted that these non-GAAP financial measures may be different from non-GAAP measures used by other companies, and management may utilize other measures to illustrate performance in the future.
Forward-Looking Statements
This press release contains forward-looking statements which are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995, including beliefs about Amarin’s key achievements in 2025 and the potential impact and outlook for achievements in 2026 and beyond; Amarin’s 2026 financial outlook and cash position; Amarin’s overall efforts to expand access and reimbursement to VAZKEPA across global markets; expectations regarding potential strategic collaboration and licensing agreements with third parties, including our ability to attract additional collaborators, as well as our plans and strategies for entering into potential strategic collaboration and licensing agreements and the overall potential and future success of VASCEPA/VAZKEPA and Amarin that are based on the beliefs and assumptions and information currently available to Amarin.
All statements other than statements of historical fact contained in this press release are forward-looking statements. These forward-looking statements are not promises or guarantees and involve substantial risks and uncertainties. A further list and description of these risks, uncertainties and other risks associated with an investment in Amarin can be found in Amarin's filings with the U.S. Securities and Exchange Commission, including Amarin’s quarterly report on Form 10-Q for the period ending March 31, 2026 and annual report on Form 10-K for the fiscal year ended 2025. Existing and prospective investors are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date they are made. Amarin undertakes no obligation to update or revise the information contained in its forward-looking statements, whether as a result of new information, future events or circumstances or otherwise. Amarin’s forward-looking statements do not reflect the potential impact of significant transactions the company may enter into, such as mergers, acquisitions, dispositions, joint ventures or any material agreements that Amarin may enter into, amend or terminate. Investors and others should note that Amarin communicates with its investors and the public using the company website (www.amarincorp.com), the investor relations website (www.amarincorp.com/investor-relations), including but not limited to investor presentations and investor FAQs, U.S. Securities and Exchange Commission filings, press releases, public conference calls and webcasts.
Amarin Contact Information
Media Inquiries:
Tegan Berry
Amarin Corporation plc
PR@amarincorp.com
Investor Inquiries:
Devin Sullivan & Conor Rodriguez
The Equity Group on Behalf of Amarin
devin.sullivan.ext@amarincorp.com or conor.rodriguez.ext@amarincorp.com
Investor.relations@amarincorp.com
-Tables to Follow-
| CONSOLIDATED BALANCE SHEET DATA | ||||||||
| (U.S. GAAP) | ||||||||
| Unaudited | ||||||||
| March 31, 2026 | December 31, 2025 | |||||||
| (in thousands) | ||||||||
| ASSETS | ||||||||
| Current Assets: | ||||||||
| Cash and cash equivalents | $ | 131,063 | $ | 134,660 | ||||
| Restricted cash | 201 | 201 | ||||||
| Short-term investments | 176,759 | 167,929 | ||||||
| Accounts receivable, net | 108,051 | 126,832 | ||||||
| Inventory | 183,585 | 195,910 | ||||||
| Prepaid and other current assets | 26,357 | 24,350 | ||||||
| Total current assets | 626,016 | 649,882 | ||||||
| Operating lease right-of-use asset | 6,010 | 6,461 | ||||||
| Other long-term assets | 1,010 | 1,067 | ||||||
| Intangible asset, net | 12,728 | 13,365 | ||||||
| TOTAL ASSETS | $ | 645,764 | $ | 670,775 | ||||
| LIABILITIES AND STOCKHOLDERS’ EQUITY | ||||||||
| Current Liabilities: | ||||||||
| Accounts payable | $ | 48,153 | $ | 45,355 | ||||
| Accrued expenses and other current liabilities | 131,491 | 149,104 | ||||||
| Total current liabilities | 179,644 | 194,459 | ||||||
| Long-Term Liabilities: | ||||||||
| Long-term operating lease liability | 5,585 | 6,080 | ||||||
| Other long-term liabilities | 11,122 | 10,955 | ||||||
| Total liabilities | 196,351 | 211,494 | ||||||
| Stockholders’ Equity: | ||||||||
| Common stock | 314,062 | 310,184 | ||||||
| Additional paid-in capital | 1,922,254 | 1,923,801 | ||||||
| Treasury stock | (69,047 | ) | (67,360 | ) | ||||
| Accumulated deficit | (1,717,856 | ) | (1,707,344 | ) | ||||
| Total stockholders’ equity | 449,413 | 459,281 | ||||||
| TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY | $ | 645,764 | $ | 670,775 | ||||
| CONSOLIDATED STATEMENTS OF OPERATIONS DATA | ||||||||
| (U.S. GAAP) | ||||||||
| Unaudited | ||||||||
| Three months ended March 31, | ||||||||
| (in thousands, except per share amounts) | ||||||||
| 2026 | 2025 | |||||||
| Product revenue, net | $ | 43,326 | $ | 41,035 | ||||
| Licensing and royalty revenue | 1,806 | 982 | ||||||
| Total revenue, net | 45,132 | 42,017 | ||||||
| Less: Cost of goods sold | 27,363 | 16,887 | ||||||
| Gross margin | 17,769 | 25,130 | ||||||
| Operating expenses: | ||||||||
| Selling, general and administrative (1) | 21,115 | 36,573 | ||||||
| Research and development (1) | 4,665 | 5,312 | ||||||
| Restructuring | 3,323 | — | ||||||
| Total operating expenses | 29,103 | 41,885 | ||||||
| Operating loss | (11,334 | ) | (16,755 | ) | ||||
| Interest income, net | 2,423 | 2,872 | ||||||
| Other income, net | 188 | 253 | ||||||
| Loss from operations before taxes | (8,723 | ) | (13,630 | ) | ||||
| Provision for income taxes | (1,789 | ) | (2,067 | ) | ||||
| Net loss | $ | (10,512 | ) | $ | (15,697 | ) | ||
| Loss per Ordinary Share: | ||||||||
| Basic | $ | (0.03 | ) | $ | (0.04 | ) | ||
| Diluted | $ | (0.03 | ) | $ | (0.04 | ) | ||
| Weighted average Ordinary Shares: | ||||||||
| Basic | 419,054 | 413,422 | ||||||
| Diluted | 419,054 | 413,422 | ||||||
| (1) - Excluding non-cash stock-based compensation, selling, general and administrative expenses were | ||||||||
| RECONCILIATION OF NON-GAAP NET INCOME (LOSS) | ||||||||
| Unaudited | ||||||||
| Three months ended March 31, | ||||||||
| (in thousands, except per share amounts) | ||||||||
| 2026 | 2025 | |||||||
| Net loss for EPS1- GAAP | (10,512 | ) | (15,697 | ) | ||||
| Stock-based compensation expense | 2,296 | 4,327 | ||||||
| Restructuring | 3,323 | — | ||||||
| Litigation Settlement | 3,100 | — | ||||||
| ADS Ratio Change Fees | — | 2,015 | ||||||
| Net loss for EPS1- non-GAAP | $ | (1,793 | ) | $ | (9,355 | ) | ||
| 1basic and diluted | ||||||||
| Loss per Ordinary Share: | ||||||||
| Basic - non-GAAP | $ | (0.00 | ) | $ | (0.02 | ) | ||
| Diluted - non-GAAP | $ | (0.00 | ) | $ | (0.02 | ) | ||
| Loss per ADS: | ||||||||
| Basic - non-GAAP | $ | (0.09 | ) | $ | (0.45 | ) | ||
| Diluted - non-GAAP | $ | (0.09 | ) | $ | (0.45 | ) | ||
| Weighted average Ordinary Shares: | ||||||||
| Basic | 419,054 | 413,422 | ||||||
| Diluted | 419,054 | 413,422 | ||||||
