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Amarin Reports 2026 Second Quarter Financial Results Demonstrating Early Success of Fully Partnered International Commercial Strategy and Continued Leading U.S. Market Presence

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Amarin (NASDAQ: AMRN) reported Q2 2026 total net revenue of $42.2 million, down 42% year over year, mainly due to the absence of the prior-year $25 million Recordati upfront payment and lower U.S./European product revenue under the partnered model. Net product revenue was $39.1 million, down 16%.

Operating expenses fell to $27.0 million (‑59%), or 38% lower excluding Q2 2025 restructuring, completing a $70 million annual cost-savings plan. Net loss improved to $7.7 million from $14.1 million, with operating margin at ‑28%. Cash increased to $314.6 million and the company remained debt-free, generating positive cash flow for the third straight quarter and targeting ~10% cash growth for full-year 2026.

Across partners, in‑market VASCEPA/VAZKEPA demand rose 59% year over year, with Europe up 69% and China in‑market volume up 90% year-to-date. U.S. IPE market share increased to 48% from 43%, with branded VASCEPA prescriptions up 14%. Amarin expects continued international growth, stable 2026 U.S. volumes, an improved operating expense profile and positive cash flow.

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Positive

  • Total operating expenses down 59% YoY to $27.0M in Q2 2026
  • Operating expenses ex‑restructuring down $16.6M (38%) vs Q2 2025
  • Net loss improved to $7.7M from $14.1M year over year
  • Cash balance up to $314.6M; company remains debt free
  • Company expects ~10% cash growth by Dec 31, 2026 vs 2025
  • Global in‑market VASCEPA/VAZKEPA demand up 59% YoY; Europe +69%
  • U.S. IPE market share increased to 48% from 43%; Rxs +14%

Negative

  • Total net revenue declined 42% YoY to $42.2M in Q2 2026
  • Licensing & royalty revenue down 88% to $3.1M vs Q2 2025
  • Net product revenue fell 16% YoY to $39.1M in Q2 2026
  • Rest‑of‑World revenue declined to $1.4M from $3.5M year over year
  • Company still reports operating loss of $12.0M and net loss of $7.7M
  • COGS increased 22% YoY to $27.2M in Q2 2026

News Explained

The 59-country Recordati arrangement is producing current-quarter royalties, but product availability stood at 22 countries on June 30.

Amarin reports second-quarter results with its international business operating under Recordati’s exclusive long-term license-and-supply agreement covering 59 countries; Recordati advances commercialization while Amarin receives royalties from the arrangement.

As of June 30, 2026, VASCEPA/VAZKEPA was commercially available in 22 countries globally, including 11 European countries for VAZKEPA, so the 59-country licensed territory is not yet fully rolled out.

The next named rollout markers are Singapore and South Korea, which the company says are progressing toward anticipated near-term commercialization.

Market Context

Earnings-tagged history recorded an average move of -3.26%. That record adds context to this earning...
Analysis

Earnings-tagged history recorded an average move of -3.26%. That record adds context to this earnings report: lower expenses and stronger demand were offset by declining revenue, while continued U.S. generic competition remains a risk.

Key Figures

Q2 Net Revenue: $42.2 million Operating Expenses: $27.0 million Adjusted OPEX Decline: $16.6 million, or 38% +5 more
8 metrics
Q2 Net Revenue $42.2 million Q2 2026, down 42% from $72.7 million in Q2 2025
Operating Expenses $27.0 million Q2 2026, down 59% from Q2 2025
Adjusted OPEX Decline $16.6 million, or 38% Q2 2026 excluding restructuring charges versus Q2 2025
Cash $314.6 million June 30, 2026, compared with $302.6 million at December 31, 2025
Net Loss $7.7 million Q2 2026 versus $14.1 million in Q2 2025
Global In-Market Demand Growth 59% Q2 2026 versus Q2 2025 across the global partner network
European In-Market Demand Growth 69% Q2 2026 versus Q2 2025
U.S. IPE Market Share 48% Q2 2026 versus 43% in Q2 2025

Previous Earnings Reports

5 past events · Latest: Apr 29 (Positive)
Same Type Pattern 5 events
Date Event Sentiment 24h Move Catalyst
Apr 29 Q1 earnings Positive +2.4% Revenue growth, lower expenses, improved losses, and positive cash flow supported the release.
Feb 25 Q4 earnings Negative -9.5% Revenue declined despite narrower losses, cost savings, and a stronger cash position.
Oct 29 Q3 earnings Positive -11.3% Revenue growth and narrower losses coincided with a negative historical price reaction.
Jul 30 Q2 earnings Positive +2.2% Recordati partnership and planned cost savings accompanied revenue growth and a positive reaction.
May 07 Q1 earnings Negative -0.1% Revenue and net income declined while operating expenses decreased and European demand improved.

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

Pattern Detected

Earnings-tagged history averaged a -3.26% move, with four of five events aligned to the classified operating direction and Q3 2025 diverging.

Key Terms

non-gaap, operating margin, icosapent ethyl, hypertriglyceridemia, +1 more
5 terms
non-gaap financial
"Non-GAAP adjusted net (loss) income was derived by taking GAAP net loss"
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.
View in glossary
operating margin financial
"Operating margin is calculated as operating loss divided by total net revenue"
Operating margin shows how much profit a company makes from its core business activities after paying for costs like wages and materials. It’s useful because it tells you how efficiently a company is running—higher margins mean it keeps more money from each dollar of sales, which can indicate better management or stronger products.
View in glossary
icosapent ethyl medical
"VASCEPA®/VAZKEPA® (icosapent ethyl or IPE)"
Icosapent ethyl is a prescription medicine made from a purified omega‑3 oil that lowers high levels of blood fats called triglycerides and can lower the chance of certain heart problems in patients at risk. Think of it as a focused, doctor‑prescribed version of fish oil designed to treat a specific medical condition; for investors, its regulatory approvals, patent protection, clinical evidence and market uptake drive potential drug sales and influence a health‑care company’s revenue and valuation.
hypertriglyceridemia medical
"severe (≥500 mg/dL) hypertriglyceridemia"
An unusually high level of triglycerides — a type of fat carried in the bloodstream — that signals an increased risk of heart disease and related health problems. For investors, it matters because the size of the patient population, effectiveness of treatments, regulatory approvals, and insurance coverage can drive demand, clinical-trial outcomes, and revenue for drugmakers and medical-device companies; think of it like too much oil in an engine increasing the need for maintenance and repairs.
atrial fibrillation medical
"increased risk of atrial fibrillation or atrial flutter"
Atrial fibrillation is a common heart rhythm problem in which the heart’s upper chambers quiver instead of delivering steady, strong pumps, like a washing machine on an unbalanced cycle. It matters to investors because it increases use of medications, medical devices, hospital care and long‑term monitoring, drives demand for new treatments and diagnostics, and can affect healthcare costs, regulatory decisions and revenue prospects across drug, device and insurance markets.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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Q2 2026 Results Highlight Global Volume Growth, Lower Operating Expenses and Positive Cash Flow

For Full Year 2026, Company Expects Continued Growth in International Markets, Maintenance of VASCEPA’s U.S. Market Share, an Improved OPEX Profile, and Positive Cash Flow Generation

DUBLIN, Ireland and BRIDGEWATER, N.J., July 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 second quarter ended June 30, 2026 (Q2 2026) and highlighted positive outlooks associated with the one-year anniversary of its fully partnered international commercial strategy.

In June 2025, Amarin entered into an exclusive long-term license and supply agreement with Recordati S.p.A. (“Recordati”) to commercialize VASCEPA®/VAZKEPA® (icosapent ethyl or IPE) across 59 countries focused in Europe. This transformational agreement enabled Amarin to significantly reduce its operating expenses while simultaneously expanding VAZKEPA’s presence in one of the world's largest cardiovascular pharmaceutical markets, where cardiovascular disease affects an estimated 62 million people and carries an annual economic burden of approximately €282 billion across the European Union.i While commercialization remains in the early stages, Recordati has made progress advancing pricing, reimbursement, market access and adoption across the licensed territory.

“The strategic actions we have taken are driving stronger results and a path to sustained growth and profitability,” said Aaron Berg, President and Chief Executive Officer. “Amarin’s results for Q2 2026 demonstrated a positive early international sales trajectory as in-market demand increased 59% year over year across our global partner network. Operating expenses, excluding restructuring charges, declined by $16.6 million, or 38% compared to Q2 2025, in line with the previously announced $70 million annual cost savings initiative that we have now completed. We also maintained our leading U.S. IPE sales presence for VASCEPA. We are confident in the significant opportunities that lie ahead to improve patient outcomes, and continue to work closely with Barclays, our exclusive financial advisor, to explore additional potential pathways to further enhance shareholder value.”

Select Operational Highlights and Outlook

  • Across our global partner network, in-market demand for VASCEPA/VAZKEPA rose by 59% in Q2 2026 compared to Q2 2025, including 90% year-to-date growth in in-market volume in China versus the same period last year.
  • In-market demand in Europe for VAZKEPA rose by 69% in Q2 2026 from Q2 2025.
  • As of June 30, 2026, VASCEPA / VAZKEPA was commercially available in 22 countries across the globe.
  • As of June 30, 2026, VAZKEPA is commercialized in 11 countries in Europe, with pricing, reimbursement, market access and adoption continuing to build across additional countries within Recordati’s licensed territory.
  • The Company continues to work closely with our partners to advance regulatory submissions and support partners' needs through various stages of review and market launch preparations. Momentum remains strong across Europe and Asia, with Singapore and South Korea progressing toward anticipated near-term commercialization.
  • The Company’s share of the U.S. IPE market increased to 48% in Q2 2026 compared to 43% in Q2 2025. VASCEPA branded prescriptions rose by 14% from Q2 2025.
  • The Company expects that U.S. volumes will remain consistent throughout FY 2026.

Select Financial Highlights and Outlook

  • Operating expenses declined by $39.3 million, or 59% compared to Q2 2025. Excluding restructuring charges incurred in Q2 2025, operating expenses declined by $16.6 million, or 38%, in line with the previously announced and now completed $70 million annual cost savings initiative.
  • Inventories as of June 30, 2026 declined by $19.5 million from March 31, 2026 and by $31.8 million from December 31, 2025.
  • Cash as of June 30, 2026 was $314.6 million, compared to $302.6 million at December 31, 2025. The Company expects cash to grow by approximately 10% as of December 31, 2026 compared to December 31, 2025.
  • The Company remained debt free as of June 30, 2026.

Financial Highlights

($ in millions)Q2 2026Q2 2025% Change1H 20261H 2025% Change
Total Net Revenue$42.2$72.7(42)%$87.3$114.8(24)%
Operating Expenses$27.0$66.3(59)%$56.1$108.2(48)%
Operating Loss
Operating Margin % *
$(12.0)
(28)%
$(16.0)
(22)%
25%
(6) pts
$(23.3)
(27)%
$(32.7)
(29)%
29%
2 pts
Net Loss
Net Margin
$(7.7)
(18)%
$(14.1)
(19)%
46%
1 pts
$(18.2)
(21)%
$(29.8)
(26)%
39%
5 pts
Cash$314.6$298.75%$314.6$298.75%
* Operating margin is calculated as operating loss divided by total net revenue.
NM – Not Meaningful
  
 

Peter Fishman, Amarin’s Chief Financial Officer, said, “We have established a materially lower operating expense baseline to support our global sales initiatives and position the Company to generate revenues more profitably than under our former model. We also generated positive cash flow for the third consecutive quarter, improved our cash position and maintained a disciplined, data-driven approach to inventory management that optimizes working capital while protecting product access.”

Financial Performance
Comparisons to comparable 2025 periods, unless otherwise stated

Revenues

($ in millions)Q2 2026Q2 2025% Change1H 20261H 2025% Change
Product Revenue, net:
U.S.
Europe
Rest-of-World (ROW)


$32.2
$5.4
$1.4


$36.5
$6.6
$3.5


(12)%
(17)%
(61)%


$67.9
$10.4
$4.2


$72.2
$12.0
$3.5


(6)%
(13)%
19%

Total Product Revenue, net$39.1$46.6(16)%$82.4$87.7(6)%
Licensing & Royalties$3.1$26.1(88)%$4.9$27.1(82)%
Total Net Revenue$42.2$72.7(42)%$87.3$114.8(24)%
NM - Not Meaningful   
 

Total Net Revenue: Declined to $42.2 million, with the primary variance being a $25 million up front payment associated with the commencement of the Recordati agreement in Q2 2025; there was no such payment in Q2 2026.

A modest decline in U.S. sales of VASCEPA was driven by continued generic competition in the IPE market and the resulting pressure on net pricing, partially offset by increased demand for branded VASCEPA. A slight decline in European revenue was attributable to moving to a partnered sales model beginning in the second half of 2025. Quarter-to-quarter European sales comparisons that reflect the partnership model with Recordati will commence in Q3 2026. While there was continued growth in Rest-of-World in-market demand, revenue in Q2 2026 was $1.4 million, down from $3.5 million in last year’s second quarter and reflective of normal variability in partner purchasing patterns and the timing of shipments across multiple geographies. The Company expects combined in-market demand across all its global partner markets to continue to grow.

Lower licensing and royalty revenue in Q2 2026 reflected the above referenced Recordati payment received in last year’s second quarter, partially offset by royalties from the Recordati agreement in the current quarter.

Operating Expenses
Comparisons to comparable 2025 periods, unless otherwise stated

($ in millions)Q2 2026Q2 2025% Change1H 20261H 2025% Change
COGS$27.2$22.422%$54.6$39.339%
SG&A$22.2$38.7(43)%$43.3$75.2(42)%
R&D$4.8$4.9(3)%$9.4$10.2(8)%
Restructuring--$22.8NM$3.4$22.8(85)%
Total Operating Expenses *$27.0$66.3(59)%$56.1$108.2(48)%
* Total operating expenses reflect the sum of SG&A, R&D, and Restructuring expenses.
NM - Not Meaningful
 

COGS: Increased $4.8 million, or 22%, reflecting increased product volumes on which revenue was recognized during the period.

SG&A: Decreased 43% to $22.2 million, reflecting a reduction in costs associated with the Global Restructuring Plan.

R&D: Consistent with the prior year period.

Restructuring: The Company’s Global Restructuring associated with the execution of the Recordati Licensing Agreement is now complete. Q2 2026 charges associated with this plan were immaterial.

Second Quarter 2026 Earnings Conference Call and Webcast Information

Amarin will host a conference call on July 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 444188. A replay of the webcast will be made available until January 29, 2027. 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 54179. 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 thirty-one 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 was granted in the United Kingdom (applying to England, Scotland, Wales, and Northern Ireland). VAZKEPA is currently approved and sold in Europe in Sweden, Finland, England/Wales, Spain, Netherlands, Scotland, Greece, Portugal, Italy, Slovenia, Romania, 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% vs 2%) 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% vs 10%) 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% vs 3%), peripheral edema (7% vs 5%), constipation (5% vs 4%), gout (4% vs 3%), and atrial fibrillation (5% vs 4%).
  • Common adverse reactions in the hypertriglyceridemia trials (incidence >1% more frequent than placebo): arthralgia (2% vs 1%) and oropharyngeal pain (1% vs 0.3%).
  • 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 outlook for achievements in 2026 and beyond; Amarin’s overall efforts to expand access and reimbursement to VASCEPA/VAZKEPA across global markets; expectations regarding potential market dynamics, payer behavior, and the competitive landscape; 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 annual report on Form 10-K for the fiscal year ended 2025 and subsequent quarterly reports on Form 10-Q. 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 Contact Information

Media Inquiries:
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

CONSOLIDATED BALANCE SHEET DATA
(U.S. GAAP)
Unaudited
     
  June 30, 2026 December 31, 2025
  (in thousands)
ASSETS    
Current Assets:    
Cash and cash equivalents $143,558  $134,660 
Restricted cash  201   201 
Short-term investments  171,091   167,929 
Accounts receivable, net  92,917   126,832 
Inventory  164,073   195,910 
Prepaid and other current assets  30,918   24,350 
Total current assets  602,758   649,882 
Operating lease right-of-use asset  5,564   6,461 
Other long-term assets  3,949   1,067 
Intangible asset, net  12,092   13,365 
TOTAL ASSETS $624,363  $670,775 
LIABILITIES AND STOCKHOLDERS’ EQUITY    
Current Liabilities:    
Accounts payable $18,796  $45,355 
Accrued expenses and other current liabilities  145,399   149,104 
Total current liabilities  164,195   194,459 
Long-Term Liabilities:    
Long-term operating lease liability  5,255   6,080 
Other long-term liabilities  11,297   10,955 
Total liabilities  180,747   211,494 
Stockholders’ Equity:    
Common stock  314,531   310,184 
Additional paid-in capital  1,923,885   1,923,801 
Treasury stock  (69,294)  (67,360)
Accumulated deficit  (1,725,506)  (1,707,344)
Total stockholders’ equity  443,616   459,281 
TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY $624,363  $670,775 
 


CONSOLIDATED STATEMENTS OF OPERATIONS DATA
(U.S. GAAP)
Unaudited
       
 Three months ended June 30, Six months ended June 30,
 (in thousands, except per share amounts) (in thousands, except per share amounts)
 2026 2025 2026 2025
Product revenue, net$39,077 $46,617 $82,403 $87,652
Licensing and royalty revenue3,134 26,124 4,941 27,105
Total revenue, net42,211 72,741 87,344 114,757
Less: Cost of goods sold27,222 22,379 54,585 39,266
Gross margin14,989 50,362 32,759 75,491
Operating expenses:       
Selling, general and administrative (1)22,186 38,673 43,302 75,247
Research and development (1)4,773 4,915 9,438 10,227
Restructuring40 22,759 3,363 22,759
Total operating expenses26,999 66,347 56,103 108,233
Operating loss(12,010) (15,985) (23,344) (32,742)
Interest income, net3,050 2,620 5,474 5,493
Other income (expense), net1,091 (85) 1,278 168
Loss from operations before taxes(7,869) (13,450) (16,592) (27,081)
Benefit from (provision for) income taxes219 (689) (1,570) (2,755)
Net loss$(7,650) $(14,139) $(18,162) $(29,836)
Loss per Ordinary Share:       
Basic$(0.02) $(0.03) $(0.04) $(0.07)
Diluted$(0.02) $(0.03) $(0.04) $(0.07)
Weighted average Ordinary Shares:       
Basic416,444 414,477 419,457 414,008
Diluted416,444 414,477 419,457 414,008
        
(1) - Excluding non-cash stock-based compensation, selling, general and administrative expenses were $20,598 and $35,802 for the three months ended June 30, 2026 and 2025, respectively, and research and development expenses were $4,260 and $4,321, respectively, for the same periods.
 


RECONCILIATION OF NON-GAAP NET INCOME (LOSS)
Unaudited
          
  Three months ended June 30, Six months ended June 30,
  (in thousands, except per share amounts) (in thousands, except per share amounts)
  2026
 2025
 2026
 2025
Net loss for EPS1 - GAAP (7,650)  (14,139)  (18,162)   (29,836)
Stock-based compensation expense  2,100   4,327   4,396    10,366 
Restructuring  40   22,759   3,363    22,759 
Litigation-Related Charges  6,300      9,400     
Licensing Agreement Fees     5,038       5,038 
ADS Ratio Change Fees            2,015 
Net income (loss) for EPS1 - non-GAAP $790  $17,985  $(1,003)  $10,342 
          
1basic and diluted         
          
Earnings (loss) per Ordinary Share:         
Basic - non-GAAP $0.00  $0.04  $(0.00)  $0.02 
Diluted - non-GAAP $0.00  $0.04  $(0.00)  $0.02 
          
Earnings (loss) per ADS:         
Basic - non-GAAP $0.04  $0.87  $(0.05)  $0.50 
Diluted - non-GAAP $0.04  $0.87  $(0.05)  $0.50 
          
Weighted average Ordinary Shares:         
Basic  416,444   414,477   419,457    414,008 
Diluted  428,834   411,395   419,457    414,542 
 

i OECD (2025), The State of Cardiovascular Health in the European Union, OECD Publishing, Paris, https://doi.org/10.1787/ea7a15f4-en.


FAQ

How did Amarin (AMRN) perform financially in Q2 2026?

Amarin reported Q2 2026 total net revenue of $42.2 million, down 42% year over year. According to Amarin, operating expenses fell 59% to $27.0 million, net loss improved to $7.7 million, and the company generated positive cash flow for the third consecutive quarter.

Why did Amarin’s Q2 2026 revenue decline compared to Q2 2025?

Q2 2026 revenue fell mainly because there was no repeat of the $25 million Recordati upfront payment booked in Q2 2025. According to Amarin, modest U.S. sales declines and a shift to a partnered model in Europe also reduced reported revenue despite growing in‑market demand.

What progress did Amarin report on its international VASCEPA/VAZKEPA strategy in Q2 2026?

Amarin highlighted strong partner-driven volume growth, with global in‑market VASCEPA/VAZKEPA demand up 59% year over year. According to Amarin, Europe rose 69%, China volume grew 90% year-to-date, and the product was commercially available in 22 countries by June 30, 2026.

How is Amarin’s U.S. VASCEPA business performing in 2026 amid generic competition?

In Q2 2026, Amarin’s U.S. IPE market share increased to 48% from 43% year over year. According to Amarin, branded VASCEPA prescriptions rose 14%, though net U.S. revenue declined due to generic-driven price pressure. The company expects U.S. volumes to remain consistent through full-year 2026.

What cost savings and restructuring results did Amarin (AMRN) achieve by Q2 2026?

Amarin reduced total operating expenses to $27.0 million, a 59% year-over-year decline, in Q2 2026. According to Amarin, operating expenses excluding prior restructuring fell 38%, completing a $70 million annual cost-savings initiative tied to its Recordati partnership and global restructuring plan.

What is Amarin’s cash position and outlook for 2026?

Amarin ended Q2 2026 with $314.6 million in cash, up from $302.6 million at year end 2025. According to Amarin, the company remained debt free, generated positive cash flow for three straight quarters, and expects cash to grow by approximately 10% by December 31, 2026 vs 2025.

How did the Recordati partnership impact Amarin’s Q2 2026 results?

The Recordati deal shifted Amarin to a partnered European model, reducing operating costs but lowering reported revenue versus Q2 2025’s upfront payment. According to Amarin, operating expenses fell sharply, royalties began in Q2 2026, and European in‑market VAZKEPA demand increased 69% year over year.