Jazz Pharmaceuticals Announces First Quarter 2026 Financial Results
Rhea-AI Summary
Jazz Pharmaceuticals (NASDAQ: JAZZ) reported 1Q26 results: total revenues $1.07B (+19% YoY), GAAP EPS $4.43 and non-GAAP EPS $6.34, and $408M cash from operations. Zanidatamab sBLA for HER2+ 1L GEA received Priority Review with a PDUFA date of Aug 25, 2026. Xywav, Epidiolex, Zepzelca and Modeyso drove revenue growth. The company reaffirmed 2026 guidance of $4.25–$4.50B revenues and provided ranges for margins, SG&A, R&D and tax rate assumptions.
Positive
- Total revenues $1,068.9M (+19% YoY)
- Xywav net sales $408.2M (+18% YoY) with ~425 net patient adds
- Epidiolex net sales $249.8M (+15% YoY)
- GAAP EPS $4.43 and non-GAAP EPS $6.34
- $408M cash generated from operations in 1Q26
- Zanidatamab sBLA for HER2+ 1L GEA granted Priority Review (PDUFA Aug 25, 2026)
Negative
- Long-term debt principal $5.4B outstanding
- Zepzelca second-line use expected to decline through the year
- Weighted-average shares guidance raised to 66–67M (prior 65–66M) due to exchangeable notes
- Gross margin modestly down on GAAP basis (87.5% vs 88.3% prior year)
News Market Reaction – JAZZ
In the May 6 session, JAZZ gained 7.68%, reflecting a notable positive market reaction. Argus tracked a trough of -2.2% from its starting point during tracking. Our momentum scanner triggered 9 alerts that day, indicating moderate trading interest and price volatility.
Data tracked by StockTitan Argus on the day of publication.
Key Figures
Previous Earnings Reports
| Date | Event | Sentiment | 24h Move | Catalyst |
|---|---|---|---|---|
| Feb 24 | Full-year 2025 results | Positive | +13.2% | Record 2025 revenue, strong product growth and 2026 guidance outlined. |
| Nov 05 | Q3 2025 earnings | Positive | -2.3% | Q3 revenue growth and Modeyso launch with narrowed 2025 guidance. |
| Aug 05 | Q2 2025 earnings | Positive | -6.4% | Q2 revenue growth but large GAAP loss from acquisition charges. |
| Feb 25 | Full-year 2024 results | Positive | +3.2% | Record 2024 revenues and 2025 guidance with broad product strength. |
| Nov 06 | Q3 2024 earnings | Positive | +6.8% | Double-digit revenue growth and reaffirmed 2024 revenue guidance. |
24h Move is the share-price change in the day after each event; other market factors may also have contributed.
Earnings releases have generally been received positively, with most events showing share price gains. However, there are instances where solid revenue growth and guidance updates were followed by selloffs, indicating that while results often support upside, market expectations can be demanding.
Over the past five earnings cycles, Jazz has repeatedly highlighted record or growing revenues, led by Xywav, Epidiolex and an expanding oncology portfolio. Events on Nov 5, 2025 and Aug 5, 2025 showed that even with revenue growth and new product launches, shares sometimes fell, suggesting high expectations. Full-year releases on Feb 25, 2024 and Feb 24, 2026 were followed by strong gains, aligning with robust annual results and forward guidance. Today’s 1Q26 report fits this pattern of growth plus reaffirmed guidance.
Key Terms
priority review regulatory
pdufa regulatory
her2+ medical
gastroesophageal adenocarcinoma medical
overall survival medical
non-gaap financial
real-time oncology review regulatory
AI-generated analysis. How Rhea-AI works. Not financial advice.
– Strong commercial execution across franchises with total revenues of
– Zanidatamab HER2+ 1L GEA sBLA granted Priority Review; PDUFA date of August 25, 2026 –
– Xywav® revenues grew
– Epidiolex® revenues grew
– Company reaffirms 2026 revenue and expense guidance –
"Our first-quarter results reflect disciplined execution across the business, delivering
Key First Quarter 2026 Highlights
- Total revenues in 1Q26 grew to
$1.1 billion 19% year-over-year (YoY)) - Generated GAAP / non-GAAP1 adjusted earnings per share (EPS) of
$4.43 $6.34 $408 million in cash from operations. - Practice-changing Phase 3 HERIZON-GEA-01 results, presented as a late-breaker at ASCO GI, support zanidatamab as the HER2-targeted agent of choice in HER2+ 1L advanced gastroesophageal adenocarcinoma (GEA); additional benefit from tislelizumab irrespective of PD-L1 status.
- Supplemental Biologics License Application (sBLA) accepted by FDA under Real-Time Oncology Review (RTOR) program with potential approval and launch in 1L HER2+ GEA on or before PDUFA date.
Business Updates
Xywav (calcium, magnesium, potassium, and sodium oxybates) oral solution:
- Xywav net product sales increased
18% to$408 million in 1Q26, compared to 1Q25. - Continued physician and patient demand for the differentiated benefits of low-sodium Xywav.
- Strong new patient growth, with approximately 425 net patient adds in 1Q26. There were approximately 16,600 active patients exiting the quarter, comprised of approximately 11,075 narcolepsy patients and approximately 5,525 idiopathic hypersomnia (IH) patients.
________________________________ |
1 Non-GAAP adjusted EPS is a non-GAAP financial measure. See 'Non-GAAP Financial Measures' below for more information. A reconciliation of GAAP reported EPS to non-GAAP adjusted EPS is included at the end of this press release. |
Epidiolex/Epidyolex (cannabidiol):
- Epidiolex/Epidyolex net product sales increased
15% YoY to$250 million in 1Q26, driven by continued strong demand. - Announced agreement with Nippon Zoki to commercialize Epidyolex in
Japan , following completion of ongoing clinical trials and potential regulatory approval.
Ziihera® (zanidatamab-hrii):
- Ziihera net product sales in biliary tract cancer (BTC) were
$13 million in 1Q26. - In April 2026, FDA accepted the zanidatamab sBLA in GEA for a Priority Review, with a PDUFA date of August 25, 2026.
- Submitted HERIZON-GEA-01 data for potential National Comprehensive Cancer Network (NCCN) guideline inclusion.
- HERIZON-GEA-01 data accepted for publication by a top-tier medical journal.
- The second interim overall survival (OS) analysis for the HERIZON-GEA-01 trial doublet regimen is expected in mid-2026.
- Multiple registrational trials of zanidatamab are underway, including in metastatic breast cancer (mBC), supporting a broad development program designed to maximize patient impact and long-term shareholder value.
Modeyso (dordaviprone):
- Modeyso net product sales were
$41 million in 1Q26 with ~500 patients having received Modeyso from product launch in August 2025 through the end of the first quarter. - The company completed the sale of its Rare Pediatric Disease Priority Review Voucher (PRV) for gross proceeds of
$200 million (50% to Jazz). - Phase 3 ACTION trial remains on track with top-line readout expected late 2026 / early 2027.
Zepzelca (lurbinectedin):
- Zepzelca net product sales increased
60% YoY to$101 million in 1Q26, driven by continued uptake of the Zepzelca and atezolizumab combination in the 1LM ES-SCLC setting, partially offset by a decline in second line use. - The company expects second line use to decline throughout the year.
Financial Highlights
Three Months Ended March 31, | |||
(In millions, except per share amounts) | 2026 | 2025 | |
Total revenues | $ 1,068.9 | $ 897.8 | |
GAAP net income (loss) | $ 293.1 | $ (92.5) | |
Non-GAAP adjusted net income | $ 419.5 | $ 105.2 | |
GAAP earnings (loss) per share | $ 4.43 | $ (1.52) | |
Non-GAAP adjusted earnings per share | $ 6.34 | $ 1.68 | |
The GAAP net loss and non-GAAP adjusted net income for 1Q25 included an expense of
Reconciliations of applicable GAAP reported to non-GAAP adjusted information are included at the end of this press release.
Total Revenues
Three Months Ended March 31, | |||
(In millions) | 2026 | 2025 | |
Xywav | $ 408.2 | $ 344.8 | |
Xyrem | 31.2 | 37.2 | |
Sleep | 439.4 | 382.0 | |
Epidiolex/Epidyolex | 249.8 | 217.7 | |
Epilepsy | 249.8 | 217.7 | |
Rylaze/Enrylaze | 103.7 | 94.2 | |
Zepzelca | 101.0 | 63.0 | |
Defitelio/defibrotide | 47.4 | 40.7 | |
Modeyso | 41.4 | — | |
Vyxeos | 26.6 | 29.5 | |
Ziihera | 13.3 | 2.0 | |
Oncology | 333.4 | 229.4 | |
Other | 2.7 | 10.3 | |
Product sales, net | 1,025.3 | 839.4 | |
High-sodium oxybate AG royalty revenue | 36.3 | 48.9 | |
Other royalty and contract revenues | 7.3 | 9.5 | |
Total revenues | $ 1,068.9 | $ 897.8 | |
Total revenues increased
Operating Expenses and Income Tax Expense (Benefit)
Three Months Ended March 31, | |||
(In millions, except percentages) | 2026 | 2025 | |
GAAP: | |||
Cost of product sales | $ 134.1 | $ 104.6 | |
Gross margin on total revenues | 87.5 % | 88.3 % | |
Selling, general and administrative | $ 352.7 | $ 514.0 | |
% of total revenues | 33.0 % | 57.3 % | |
Research and development | $ 196.0 | $ 180.7 | |
% of total revenues | 18.3 % | 20.1 % | |
Gain on sale of priority review voucher | $ (122.8) | $ — | |
Income tax expense (benefit) | $ 6.1 | $ (17.8) | |
Effective tax rate | 2.0 % | 16.2 % | |
Three Months Ended March 31, | |||
(In millions, except percentages) | 2026 | 2025 | |
Non-GAAP adjusted: | |||
Cost of product sales | $ 90.0 | $ 69.7 | |
Gross margin on total revenues | 91.6 % | 92.2 % | |
Selling, general and administrative | $ 308.5 | $ 472.3 | |
% of total revenues | 28.9 % | 52.6 % | |
Research and development | $ 172.3 | $ 159.7 | |
% of total revenues | 16.1 % | 17.8 % | |
Income tax expense | $ 41.2 | $ 36.5 | |
Effective tax rate | 8.9 % | 25.7 % | |
Changes in operating expenses and income tax expense (benefit) in 1Q26 over the prior year period are primarily due to the following:
- Cost of product sales, on a GAAP and non-GAAP adjusted basis, increased in 1Q26, primarily due to higher royalty expenses, driven by higher revenues, and increased inventory provisions. The cost of product sales, on a GAAP basis, in 1Q26 included higher acquisition accounting inventory fair value step up expense compared to 1Q25.
- Selling, general and administrative (SG&A) expenses, on a GAAP and non-GAAP adjusted basis, decreased in 1Q26, primarily due to certain Xyrem antitrust litigation settlements of
$172 million incurred in 1Q25, partially offset by higher compensation-related expenses in 1Q26 including costs relating to Modeyso. - Research and development (R&D) expenses, on a GAAP and non-GAAP adjusted basis, increased in 1Q26, primarily due to the addition of costs relating to Modeyso including personnel costs.
- Income tax expense in 1Q26, on a GAAP basis, was primarily attributable to the gain recognized on the sale of the PRV, partially offset by excess tax benefits from share-based compensation. Income tax benefit in 1Q25, on a GAAP basis, was primarily attributable to the Xyrem antitrust litigation settlements.
Cash Flow and Balance Sheet
As of March 31, 2026, cash, cash equivalents and investments were
2026 Financial Guidance
(In millions) | Guidance | ||
Total Revenues | |||
(In millions, except percentages) | GAAP | Non-GAAP | |
Gross margin % | |||
SG&A expenses | |||
R&D expenses | |||
Effective tax rate | |||
Weighted-average ordinary shares outstanding2 | 66 - 67 | 66 - 67 |
___________________________ | |
1. | See "Non-GAAP Financial Measures" below. Reconciliations of non-GAAP adjusted guidance measures are included in the table titled "Reconciliation of 2026 GAAP to Non-GAAP Guidance Measures". |
2. | Prior guidance as of February 24, 2026 was 65-66 million weighted-average ordinary shares outstanding. Guidance assumes inclusion of shares outstanding in relation to the |
Conference Call Details
Jazz Pharmaceuticals will host an investor conference call and live audio webcast today at 4:30 p.m. ET to provide a business and financial update and discuss its 2026 first quarter results.
Interested parties may register for the call here or via the Investors section of the Jazz Pharmaceuticals website at www.jazzpharmaceuticals.com. To ensure a timely connection, it is recommended that participants register at least 15 minutes prior to the scheduled webcast.
A replay of the webcast will be available via the Investors section of the Jazz Pharmaceuticals website at www.jazzpharmaceuticals.com.
About Jazz Pharmaceuticals
Jazz Pharmaceuticals plc (NASDAQ: JAZZ) is a global biopharma company whose purpose is to innovate to transform the lives of patients and their families. We are dedicated to developing life-changing medicines for people with rare disease — often with limited or no therapeutic options. We have a diverse portfolio of medicines, including leading therapies addressing epilepsies, cancers and sleep disorders. Our patient-focused and science-driven approach powers pioneering research and development advancements across our robust pipeline of innovative therapeutics. Jazz is headquartered in
Non-GAAP Financial Measures
To supplement Jazz Pharmaceuticals' financial results and guidance presented in accordance with
The company believes that each of these non-GAAP financial measures provides useful supplementary information to, and facilitates additional analysis by, investors and analysts and that each of these non-GAAP financial measures, when considered together with the company's financial information prepared in accordance with GAAP, can enhance investors' and analysts' ability to meaningfully compare the company's results from period to period, to its forward-looking guidance, and to identify operating trends in the company's business. In addition, these non-GAAP financial measures are regularly used by investors and analysts to model and track the company's financial performance. Jazz Pharmaceuticals' management also regularly uses these non-GAAP financial measures internally to understand, manage and evaluate the company's business and to make operating decisions, and compensation of executives is based in part on certain of these non-GAAP financial measures. Because these non-GAAP financial measures are important internal measurements for Jazz Pharmaceuticals' management, the company also believes that these non-GAAP financial measures are useful to investors and analysts since these measures allow for greater transparency with respect to key financial metrics the company uses in assessing its own operating performance and making operating decisions. These non-GAAP financial measures are not meant to be considered in isolation or as a substitute for comparable GAAP measures; should be read in conjunction with the company's consolidated financial statements prepared in accordance with GAAP; have no standardized meaning prescribed by GAAP; and are not prepared under any comprehensive set of accounting rules or principles in the reconciliation tables that follow. In addition, from time to time in the future there may be other items that the company may exclude for purposes of its non-GAAP financial measures; and the company has ceased, and may in the future cease, to exclude items that it has historically excluded for purposes of its non-GAAP financial measures. Likewise, the company may determine to modify the nature of its adjustments to arrive at its non-GAAP financial measures. Because of the non-standardized definitions of non-GAAP financial measures, the non-GAAP financial measures as used by Jazz Pharmaceuticals in this press release and the accompanying tables have limits in their usefulness to investors and may be calculated differently from, and therefore may not be directly comparable to, similarly titled measures used by other companies.
Cautionary Note Concerning Forward-Looking Statements
This press release contains forward-looking statements, including, but not limited to, statements related to: the company's growth prospects and future financial and operating results, including the company's 2026 financial guidance and the company's expectations related thereto, including with respect to anticipated catalysts; the company's advancement of pipeline programs and the timing of development activities, regulatory activities, approvals, and submissions related thereto; the potential for a near-term commercial launch of zanidatamab in 1L HER2+ GEA in the
Actual results and the timing of events could differ materially from those anticipated in such forward- looking statements as a result of these risks and uncertainties, which include, without limitation, risks and uncertainties associated with: maintaining or increasing sales of, and revenue from, Xywav, Epidiolex/Epidyolex, Ziihera, Modeyso, Zepzelca and other lead marketed products; effectively launching and commercializing the company's other products and product candidates; the successful completion of development and regulatory activities with respect to the company's product candidates; obtaining and maintaining adequate coverage and reimbursement for the company's products; the time-consuming and uncertain regulatory approval process, including the risk that the company's current and/or planned regulatory submissions may not be submitted, accepted or approved by applicable regulatory authorities in a timely manner or at all, including the risk that zanidatamab in 1L HER2+ GEA may not be approved in a timely manner or at all; the costly and time-consuming pharmaceutical product development process and the uncertainty of clinical success, including risks related to failure or delays in successfully initiating or completing clinical trials and assessing patients; global economic, financial, and healthcare system disruptions and the current and potential future negative impacts to the company's business operations and financial results; protecting and enhancing the company's intellectual property rights and the company's commercial success being dependent upon the company obtaining, maintaining and defending intellectual property protection and exclusivity for its products and product candidates; delays or problems in the supply or manufacture of the company's products and product candidates, including due to geopolitical tensions and military conflicts; complying with applicable
JAZZ PHARMACEUTICALS PLC | |||
CONDENSED CONSOLIDATED STATEMENTS OF INCOME (LOSS) | |||
(In millions, except per share amounts) | |||
(Unaudited) | |||
Three Months Ended March 31, | |||
2026 | 2025 | ||
Revenues: | |||
Product sales, net | $ 1,025.3 | $ 839.4 | |
Royalties and contract revenues | 43.6 | 58.4 | |
Total revenues | 1,068.9 | 897.8 | |
Operating expenses: | |||
Cost of product sales (excluding amortization of acquired developed technologies) | 134.1 | 104.6 | |
Selling, general and administrative | 352.7 | 514.0 | |
Research and development | 196.0 | 180.7 | |
Intangible asset amortization | 172.3 | 154.4 | |
Gain on sale of priority review voucher | (122.8) | — | |
Total operating expenses | 732.3 | 953.7 | |
Income (loss) from operations | 336.6 | (55.9) | |
Interest expense, net | (39.9) | (53.7) | |
Foreign exchange gain (loss) | 2.5 | (0.2) | |
Income (loss) before income tax expense (benefit) and equity in loss of investees | 299.2 | (109.8) | |
Income tax expense (benefit) | 6.1 | (17.8) | |
Equity in loss of investees | — | 0.5 | |
Net income (loss) | $ 293.1 | $ (92.5) | |
Net income (loss) per ordinary share: | |||
Basic | $ 4.73 | $ (1.52) | |
Diluted | $ 4.43 | $ (1.52) | |
Weighted-average ordinary shares used in per share calculations - basic | 61.9 | 61.0 | |
Weighted-average ordinary shares used in per share calculations - diluted | 66.1 | 61.0 | |
JAZZ PHARMACEUTICALS PLC | |||
CONDENSED CONSOLIDATED BALANCE SHEETS | |||
(In millions) | |||
(Unaudited) | |||
March 31, | December 31, | ||
ASSETS | |||
Current assets: | |||
Cash and cash equivalents | $ 1,844.3 | $ 1,391.9 | |
Investments | 1,030.0 | 1,050.0 | |
Accounts receivable, net of allowances | 836.3 | 830.7 | |
Inventories | 437.5 | 417.0 | |
Prepaid expenses | 149.7 | 152.5 | |
Other current assets | 285.3 | 323.9 | |
Total current assets | 4,583.1 | 4,166.0 | |
Property, plant and equipment, net | 203.1 | 199.9 | |
Operating lease assets | 55.8 | 58.9 | |
Intangible assets, net | 4,203.8 | 4,429.5 | |
Goodwill | 1,805.0 | 1,829.3 | |
Deferred tax assets, net | 907.0 | 869.1 | |
Deferred financing costs | 7.1 | 7.6 | |
Other non-current assets | 94.7 | 99.0 | |
Total assets | $ 11,859.6 | $ 11,659.3 | |
LIABILITIES AND SHAREHOLDERS' EQUITY | |||
Current liabilities: | |||
Accounts payable | $ 100.0 | $ 122.1 | |
Accrued liabilities | 1,022.4 | 1,034.2 | |
Current portion of long-term debt | 1,030.5 | 1,029.9 | |
Income taxes payable | 93.7 | 56.3 | |
Total current liabilities | 2,246.6 | 2,242.5 | |
Long-term debt, less current portion | 4,324.2 | 4,328.4 | |
Operating lease liabilities, less current portion | 47.3 | 50.9 | |
Deferred tax liabilities, net | 547.7 | 594.5 | |
Other non-current liabilities | 161.5 | 124.4 | |
Total shareholders' equity | 4,532.3 | 4,318.6 | |
Total liabilities and shareholders' equity | $ 11,859.6 | $ 11,659.3 | |
JAZZ PHARMACEUTICALS PLC | |||
SUMMARY OF CASH FLOWS | |||
(In millions) | |||
(Unaudited) | |||
Three Months Ended March 31, | |||
2026 | 2025 | ||
Net cash provided by operating activities | $ 408.2 | $ 429.8 | |
Net cash provided by (used in) investing activities | 123.1 | (169.0) | |
Net cash used in financing activities | (78.5) | (813.5) | |
Effect of exchange rates on cash and cash equivalents | (0.4) | 1.7 | |
Net increase (decrease) in cash and cash equivalents | $ 452.4 | $ (551.0) | |
JAZZ PHARMACEUTICALS PLC | |||||||
RECONCILIATIONS OF GAAP REPORTED TO NON-GAAP ADJUSTED INFORMATION | |||||||
(In millions, except per share amounts) | |||||||
(Unaudited) | |||||||
Three Months Ended March 31, | |||||||
2026 | 2025 | ||||||
Net | Diluted | Net Income | Diluted | ||||
GAAP reported | $ 293.1 | $ 4.43 | $ (92.5) | $ (1.52) | |||
Intangible asset amortization | 172.3 | 2.61 | 154.4 | 2.47 | |||
Share-based compensation expense | 74.5 | 1.13 | 67.7 | 1.08 | |||
Acquisition accounting inventory fair value step-up | 37.5 | 0.57 | 29.9 | 0.48 | |||
Gain on sale of PRV | (122.8) | (1.86) | — | — | |||
Income tax effect of above adjustments | (35.1) | (0.54) | (54.3) | (0.87) | |||
Effect of potentially dilutive ordinary shares on non-GAAP adjusted EPS | — | — | — | 0.04 | |||
Non-GAAP adjusted | $ 419.5 | $ 6.34 | $ 105.2 | $ 1.68 | |||
Weighted-average ordinary shares used in diluted per share calculations - GAAP | 66.1 | 61.0 | |||||
Dilutive effect of employee equity incentive and purchase plans | — | 1.6 | |||||
Weighted-average ordinary shares used in diluted per share calculations - non-GAAP | 66.1 | 62.6 | |||||
JAZZ PHARMACEUTICALS PLC | |||||||||||||||||
RECONCILIATIONS OF GAAP REPORTED TO NON-GAAP ADJUSTED INFORMATION - CERTAIN LINE ITEMS | |||||||||||||||||
(In millions, except percentages) | |||||||||||||||||
(Unaudited) | |||||||||||||||||
Three months ended March 31, 2026 | |||||||||||||||||
Cost of | Gross | SG&A | R&D | Intangible | Gain on | Interest | Income tax | Effective | |||||||||
GAAP Reported | $ 134.1 | 87.5 % | $ 352.7 | $ 196.0 | $ 172.3 | $ 39.9 | $ 6.1 | 2.0 % | |||||||||
Non-GAAP Adjustments: | |||||||||||||||||
Intangible asset amortization | — | — | — | — | (172.3) | — | — | — | — | ||||||||
Share-based compensation expense | (6.6) | 0.6 | (44.2) | (23.7) | — | — | — | — | — | ||||||||
Acquisition accounting inventory fair value step-up | (37.5) | 3.5 | — | — | — | — | — | — | — | ||||||||
Gain on sale of PRV | — | — | — | — | — | 122.8 | — | — | — | ||||||||
Income tax effect of above adjustments | — | — | — | — | — | — | — | 35.1 | 6.9 | ||||||||
Total of non-GAAP adjustments | (44.1) | 4.1 | (44.2) | (23.7) | (172.3) | 122.8 | — | 35.1 | 6.9 | ||||||||
Non-GAAP Adjusted | $ 90.0 | 91.6 % | $ 308.5 | $ 172.3 | $ — | $ — | $ 39.9 | $ 41.2 | 8.9 % | ||||||||
Three months ended March 31, 2025 | |||||||||||||||||
Cost of | Gross | SG&A | R&D | Intangible | Interest | Income tax | Effective | ||||||||||
GAAP Reported | $ 104.6 | 88.3 % | $ 514.0 | $ 180.7 | $ 154.4 | $ 53.7 | $ (17.8) | 16.2 % | |||||||||
Non-GAAP Adjustments: | |||||||||||||||||
Intangible asset amortization | — | — | — | — | (154.4) | — | — | — | |||||||||
Share-based compensation expense | (5.0) | 0.6 | (41.7) | (21.0) | — | — | — | — | |||||||||
Acquisition accounting inventory fair value step-up | (29.9) | 3.3 | — | — | — | — | — | — | |||||||||
Income tax effect of above adjustments | — | — | — | — | — | — | 54.3 | 9.5 | |||||||||
Total of non-GAAP adjustments | (34.9) | 3.9 | (41.7) | (21.0) | (154.4) | — | 54.3 | 9.5 | |||||||||
Non-GAAP Adjusted | $ 69.7 | 92.2 % | $ 472.3 | $ 159.7 | $ — | $ 53.7 | $ 36.5 | 25.7 % | |||||||||
JAZZ PHARMACEUTICALS PLC | |||
RECONCILIATION OF 2026 GAAP TO NON-GAAP GUIDANCE MEASURES | |||
Projected Range | |||
(In millions, except percentages) | Low | High | |
GAAP gross margin on total revenues | 89 % | 90 % | |
Acquisition accounting inventory fair value step-up | 1 % | 1 % | |
Non-GAAP gross margin on total revenues | 90 % | 91 % | |
GAAP SG&A expenses | $ 1,424 | $ 1,497 | |
Share-based compensation expense | (164) | (177) | |
Non-GAAP SG&A expenses | $ 1,260 | $ 1,320 | |
GAAP R&D expenses | $ 811 | $ 867 | |
Share-based compensation expense | (86) | (92) | |
Non-GAAP R&D expenses | $ 725 | $ 775 | |
GAAP effective tax rate | 0 % | 10 % | |
Income tax effect of GAAP to non-GAAP reconciling items | 11.5 % | 3.5 % | |
Non-GAAP effective tax rate | 11.5 % | 13.5 % | |
Contacts:
Investors:
InvestorInfo@jazzpharma.com
Media:
CorporateAffairsMediaInfo@jazzpharma.com
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SOURCE Jazz Pharmaceuticals plc