Alkermes Q3 GAAP earnings fall to $16.3M in 2026

Nine-month GAAP results were a loss as revenue increased, while Alkermes reiterated its 2026 financial expectations.

Available on EDGAR 11/03/2026 - 08:10 AM EST Accepted by SEC EDGAR 11/03/2026 - 08:09 AM EST Learn about SEC filing dates

Rhea-AI Filing Summary

Alkermes plc reported third-quarter 2026 revenue of $480.1 million, compared with $394.2 million a year earlier, while GAAP net income was $16.3 million versus $82.8 million. Proprietary net sales were $417.3 million, compared with $317.4 million; LYBALVI prescriptions grew 18% from the prior-year quarter. Adjusted EBITDA, a non-GAAP measure, was $120.1 million versus $121.5 million.

For the nine months ended September 30, revenue was $1,369.1 million versus $1,091.4 million, while GAAP results were a $49.7 million net loss compared with $192.3 million net income. At September 30, cash, cash equivalents and total investments were $787.6 million. Alkermes reiterated 2026 expectations, effective only as of November 3, including revenue of $1,730–$1,840 million, GAAP net loss of $95–$115 million and adjusted EBITDA of $370–$410 million. LUMRYZ revenue was $89.9 million, with approximately 4,100 patients on therapy. The company said its 2026 results reflect the Avadel acquisition, which closed February 12, 2026.

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Positive

• Moderate pointThird-quarter revenue was $480.1 million, versus $394.2 million a year earlier.

Negative

• Moderate pointNine-month GAAP results were a $49.7 million loss, versus $192.3 million income a year earlier.
• Minor pointThird-quarter GAAP net income was $16.3 million, versus $82.8 million a year earlier.

Filing Explained

At September 30, 2026, ordinary shares outstanding were 168,030 thousand, versus 165,607 thousand at December 31, 2025.

This Form 8-K reports Alkermes’ third-quarter results and September 30 balance sheet, which lists $1,471,231 thousand of long-term debt and a $26,500 thousand current portion.

The same-date balance sheet also lists $787.6 million in cash, cash equivalents and total investments.

Ordinary shares outstanding were 168,030 thousand at September 30, 2026, versus 165,607 thousand at December 31, 2025.

The release says these selected figures should be read with the consolidated financial statements and notes in the Q3 10-Q, which the company intended to file in November.

8-K Event Classification

2 items: 2.02, 9.01

2 items

Item 2.02 Results of Operations and Financial Condition Financial

Disclosure of earnings results, typically an earnings press release or preliminary financials.

Item 9.01 Financial Statements and Exhibits Exhibits

Financial statements, pro forma financial information, or exhibit attachments filed with this report.

Key Figures

Total revenue: $480.1 million GAAP net income: $16.3 million Adjusted EBITDA: $120.1 million +5 more

8 metrics

Total revenue $480.1 million Three months ended September 30, 2026; $394.2 million in the same period of 2025

GAAP net income $16.3 million Three months ended September 30, 2026; $82.8 million in the same period of 2025

Adjusted EBITDA $120.1 million Three months ended September 30, 2026; $121.5 million in the same period of 2025

GAAP net (loss) income ($49.7 million) Nine months ended September 30, 2026; $192.3 million net income in the same period of 2025

Total proprietary net sales $417.3 million Three months ended September 30, 2026; $317.4 million in the same period of 2025

Cash, cash equivalents and total investments $787.6 million As of September 30, 2026

LUMRYZ revenue $89.9 million Three months ended September 30, 2026

2026 total revenue expectations $1,730–$1,840 million Year ending December 31, 2026; reiterated November 3, 2026, effective only as of that date

Key Terms

Adjusted EBITDA, gross-to-net favorability, inventory fair value step-up, contingent value right

4 terms

Adjusted EBITDA financial

"Adjusted EBITDA excludes share-based compensation expense"

Adjusted EBITDA is a way companies measure how much money they make from their core operations, like running a business, by removing certain costs or income that aren’t part of regular business activities. It helps investors see how well a company is doing without distractions from unusual expenses or gains, making it easier to compare companies or track performance over time.

gross-to-net favorability financial

"revenue of approximately $8 million related to gross-to-net favorability"

inventory fair value step-up financial

"approximately $125 million of LUMRYZ inventory fair value step-up"

An inventory fair value step-up is the increase in the carrying amount of inventory on a buyer’s balance sheet that occurs at the acquisition date when purchase accounting (business combination accounting) requires the buyer to record the acquired inventories at their fair value rather than the seller’s historical cost. It is established as part of the purchase price allocation under accounting standards and becomes the new cost basis for those inventories; as the inventories are sold after the acquisition, the stepped-up amount is recognized through higher cost of goods sold (or reduced profit) and can create temporary differences for tax reporting. The measurement is fixed at the acquisition date and subsequent accounting follows inventory measurement rules, so the step-up affects future margins and deferred tax calculations but is not remeasured upward after closing.

contingent value right financial

"Avadel acquisition contingent value right (CVR) milestone"

A contingent value right is a special security that gives its holder the right to receive one or more future payments only if specified events happen, such as a product reaching a sales target or getting regulatory approval. It matters to investors because it offers potential extra payout tied to uncertain outcomes—like a bet that a project will succeed—so it can add upside to a deal while also carrying extra risk and valuation uncertainty.

Earnings Snapshot

Total revenue: $480.1 million · Guidance included

Three and nine months ended September 30, 2026

Total revenue $480.1 million Compared with $394.2 million in the three months ended September 30, 2025

GAAP net income $16.3 million Compared with $82.8 million in the three months ended September 30, 2025

Adjusted EBITDA $120.1 million Compared with $121.5 million in the three months ended September 30, 2025

GAAP net (loss) income ($49.7 million) Compared with $192.3 million net income in the nine months ended September 30, 2025

Guidance

2026 expectations, reiterated November 3, 2026 and effective only as of that date: total revenue $1,730–$1,840 million; GAAP net loss $95–$115 million; adjusted EBITDA $370–$410 million.

FAQ

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

What was ALKS revenue in the third quarter of 2026?

ALKS reported total third-quarter 2026 revenue of $480.1 million, compared with $394.2 million in the third quarter of 2025. Product sales, net, were $417.3 million, and manufacturing and royalty revenues were $62.9 million.

What are Alkermes' 2026 financial expectations?

Alkermes reiterated total revenue expectations of $1,730–$1,840 million, a GAAP net loss of $95–$115 million, and adjusted EBITDA of $370–$410 million. The expectations were reiterated on November 3, 2026, and are effective only as of that date.

How much LUMRYZ revenue did ALKS report, and how many patients were on therapy?

Third-quarter LUMRYZ revenue was $89.9 million, and approximately 4,100 patients were on LUMRYZ therapy at the end of the quarter.

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

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0001520262falseAlkermes plc.00015202622026-11-032026-11-03

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 8-K

CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(d) OF THE

SECURITIES EXCHANGE ACT OF 1934

Date of Report (Date of earliest event reported): November 3, 2026

ALKERMES PUBLIC LIMITED COMPANY

(Exact name of registrant as specified in its charter)

Ireland		001-35299				98-1007018
(State or other jurisdiction		(Commission				(IRS Employer
of incorporation)		File Number)				Identification No.)
Connaught House, 1 Burlington Road
Dublin 4, Ireland D04 C5Y6
(Address of principal executive offices)

Registrant's telephone number, including area code: + 353-1-772-8000

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):

☐		Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
☐		Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
☐		Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
☐		Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

Title of each class		Trading Symbol(s)		Name of each exchange on which registered
Ordinary shares, $0.01 par value		ALKS		Nasdaq Global Select Market

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

Item 2.02 Results of Operations and Financial Condition.

On November 3, 2026, Alkermes plc (the “Company”) announced financial results for the three and nine months ended September 30, 2026. Copies of the related press release and the investor presentation to be displayed during the Company’s conference call on November 3, 2026 discussing such financial results are furnished herewith as Exhibit 99.1 and Exhibit 99.2, respectively. This information, including Exhibits 99.1 and 99.2, shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), or incorporated by reference in any filing under the Securities Act of 1933, as amended, or the Exchange Act, except as shall be expressly set forth by specific reference in such a filing.

Item 9.01 Financial Statements and Exhibits.

(d) Exhibits

EXHIBIT INDEX

Exhibit No.		Description
99.1		Press release issued by Alkermes plc on November 3, 2026 announcing financial results for the three and nine months ended September 30, 2026.
99.2		Investor presentation to be displayed by Alkermes plc on November 3, 2026.
104		Cover page interactive data file (embedded within the Inline XBRL document).

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SIGNATURE

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

	ALKERMES PLC
Date: November 3, 2026	By:		/s/ Joshua Reed
			Joshua Reed
			Senior Vice President, Chief Financial Officer (Principal Financial Officer)

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Exhibit 99.1

	Alkermes Contacts:
	For Investors:	Sandy Coombs +1 781 609 6377
	For Media:	Katie Joyce +1 781 249 8927

Alkermes plc Reports Third Quarter 2026 Financial Results

— Third Quarter Revenues of $480.1 Million —

— GAAP Net Income of $16.3 Million and Adjusted EBITDA of $120.1 Million —

— Company Reiterates 2026 Financial Expectations —

DUBLIN, Nov. 3, 2026 — Alkermes plc (Nasdaq: ALKS) today reported financial results for the third quarter of 2026.

“We delivered solid commercial and financial performance in the third quarter while continuing to advance our portfolio of orexin 2 receptor agonists in central disorders of hypersomnolence and other neuropsychiatric conditions,” said Blair Jackson, President and Chief Executive Officer of Alkermes. “The rapid expansion of our orexin development programs, highlighted by our recent clinical proof-of-concept data in ADHD and initiation of a phase 2 study in major depressive disorder, further strengthens our leadership position in orexin-based research. As we continue to advance our orexin development portfolio, we are growing the body of evidence supporting the potential of orexin biology across multiple neuropsychiatric disorders and expect several important clinical data readouts over the year ahead. With a portfolio of development candidates in one of the most exciting new therapeutic categories in neuroscience and a steady cadence of clinical data readouts ahead, we believe we are well positioned to drive long-term value for shareholders.”

Key Financial Highlights

Revenues

	Three Months Ended September 30,					Nine Months Ended September 30,
(In millions)	2026		2025			2026		2025
Total Revenues	$	480.1	$	394.2		$	1,369.1	$	1,091.4
Total Proprietary Net Sales	$	417.3	$	317.4		$	1,167.1	$	869.2
VIVITROL®	$	127.6	$	121.1		$	364.4	$	343.8
ARISTADA®i	$	103.9	$	98.1		$	294.4	$	272.8
LYBALVI®	$	95.9	$	98.2		$	282.2	$	252.6
LUMRYZ®	$	89.9	$	—		$	226.0	$	—

Profitability

	Three Months Ended September 30,					Nine Months Ended September 30,
(In millions)	2026		2025			2026		2025
GAAP Net Income (Loss)	$	16.3	$	82.8		$	(49.7)	$	192.3
EBITDA	$	63.0	$	96.9		$	81.8	$	221.2
Adjusted EBITDA	$	120.1	$	121.5		$	339.5	$	293.7

Revenue Highlights

Proprietary Product Revenues

•VIVITROL revenues for the quarter were $127.6 million. During the quarter, the company recorded VIVITROL revenue of approximately $8 million related to gross-to-net favorability, primarily driven by favorable patient mix.

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•ARISTADAi revenues for the quarter were $103.9 million, which included approximately $4 million of inventory benefit related to timing of shipments. During the quarter, the company recorded ARISTADA revenue of approximately $3 million related to gross-to-net favorability, primarily driven by favorable patient mix.

•LYBALVI revenues for the quarter were $95.9 million, which included approximately $2 million of inventory benefit related to timing of shipments. Total prescriptions grew 18% compared to the third quarter of 2025.

•LUMRYZ revenues for the quarter were $89.9 million. At the end of the third quarter, approximately 4,100 patients were on LUMRYZ therapy.

Manufacturing & Royalty Revenues

•VUMERITY® manufacturing and royalty revenues for the quarter were $29.5 million.

•Royalty revenue from XEPLION®, INVEGA TRINZA®/TREVICTA® and INVEGA HAFYERA®/BYANNLI® for the quarter were $26.4 million.

Key Operating Expenses

	Three Months Ended September 30,
(In millions)	2026 GAAP		2026 Transaction Adjustments		2026 Non-GAAP Adjusted		2025 GAAP
Cost of Goods Sold	$	94.2	$	28.7	$	65.6	$	51.6
R&D Expense	$	121.1	$	0.1	$	121.0	$	81.7
SG&A Expense	$	208.5	$	1.0	$	207.5	$	171.8

	Nine Months Ended September 30,
(In millions)	2026 GAAP		2026 Transaction Adjustments(1)		2026 Non-GAAP Adjusted		2025 GAAP
Cost of Goods Sold	$	253.9	$	72.4	$	181.5	$	150.2
R&D Expense	$	337.4	$	8.3	$	329.1	$	230.9
SG&A Expense	$	690.7	$	57.6	$	633.1	$	514.3

(1)Includes $20.2 million of share-based compensation expense related to the acceleration of vesting of equity awards for former Avadel Pharmaceuticals plc (Avadel) employees which vested in full upon the closing of the transaction.

Balance Sheet

•At Sept. 30, 2026, the company recorded cash, cash equivalents and total investments of $787.6 million, compared to $691.6 million at June 30, 2026.

Financial Expectations for 2026

Alkermes reiterates its financial expectations for 2026, as set forth in its press release dated July 28, 2026.

Conference Call

Alkermes will host a conference call and webcast presentation with accompanying slides at 8:00 a.m. ET (1:00 p.m. GMT) on Tuesday, November 3, 2026, to discuss these financial results and provide an update on the company. The webcast may be accessed on the Investors section of Alkermes’ website at www.alkermes.com. The conference call may be accessed by dialing +1 877 407 2988 for U.S. callers and +1 201 389 0923 for international callers. In addition, a replay of the conference call may be accessed by visiting Alkermes’ website.

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About Alkermes plc

Alkermes plc (Nasdaq: ALKS), a mid-cap growth and value equity, is a global biopharmaceutical company that seeks to develop innovative medicines in the field of neuroscience. The company has a portfolio of proprietary commercial products for the treatment of alcohol dependence, opioid dependence, schizophrenia, bipolar I disorder and narcolepsy. Alkermes has established a leadership position in orexin biology and is advancing a portfolio of investigational orexin 2 receptor agonists for narcolepsy, idiopathic hypersomnia and other psychiatric and neurological disorders, including attention-deficit hyperactivity disorder (ADHD), major depressive disorder (MDD) and fatigue associated with multiple sclerosis and Parkinson’s disease. Headquartered in Ireland, Alkermes also has a corporate office and research and development center in Massachusetts and a manufacturing facility in Ohio. For more information, please visit Alkermes’ website at www.alkermes.com.

Non-GAAP Financial Measures

This press release includes information about certain financial measures that are not prepared in accordance with generally accepted accounting principles in the U.S. (GAAP), including EBITDA and Adjusted EBITDA. These non-GAAP measures are not based on any standardized methodology prescribed by GAAP and are not necessarily comparable to similar measures presented by other companies.

EBITDA represents earnings before interest, tax, depreciation and amortization. Adjusted EBITDA excludes share-based compensation expense and non-recurring gains or losses in addition to the components of EBITDA from earnings.

The company’s management and board of directors utilize these non-GAAP financial measures to evaluate the company’s performance. The company provides these non-GAAP financial measures of the company’s performance to investors because management believes that these non-GAAP financial measures, when viewed with the company’s results under GAAP and the accompanying reconciliations, are useful in identifying underlying trends in ongoing operations. However, EBITDA and Adjusted EBITDA are not measures of financial performance under GAAP and, accordingly, should not be considered as alternatives to GAAP measures as indicators of operating performance. Further, EBITDA and Adjusted EBITDA should not be considered measures of the company’s liquidity.

A reconciliation of GAAP to non-GAAP financial measures has been provided in the tables included in this press release.

Note Regarding Forward-Looking Statements

Certain statements set forth in this press release constitute “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995, as amended, including, but not limited to, statements concerning: the company’s expectations concerning its future financial and operating performance, business plans or prospects, including expectations related to value creation; and expectations regarding development timelines for, and the potential therapeutic and commercial value of, the company’s orexin development candidates. The company cautions that forward-looking statements are inherently uncertain. The forward-looking statements are neither promises nor guarantees and they are necessarily subject to a high degree of uncertainty and risk. Actual performance and results may differ materially from those expressed or implied in the forward-looking statements due to various risks and uncertainties. These risks and uncertainties include, among others: the company may not be able to achieve its financial expectations, including those related to value creation; clinical development activities may not be completed on time or at all; clinical study results may not be predictive of results from future stages of ongoing clinical studies, future clinical studies or real-world results; the unfavorable outcome of arbitration, litigation, or other proceedings or disputes related to the company’s products or products using the company’s proprietary technologies; the company’s products or product candidates may be shown to be ineffective or unsafe; the U.S. Food and Drug Administration or regulatory authorities outside the U.S. may not agree with the company’s regulatory approval strategies or components of its development programs, including clinical trial designs, conduct and methodologies, and may make adverse decisions regarding the company’s products; the company and its licensees may not be able to

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continue to successfully commercialize their products or support revenue growth from such products; potential changes in the competitive landscape impacting our products, including earlier than anticipated entry of competition from generic forms of our products or competitive products and negotiated maximum fair pricing of competitive products; potential changes in the cost, scope and duration of the company’s development programs; there may be a reduction in payment rate or reimbursement for the company’s products or an increase in the company’s financial obligations to government payers; the company’s products may prove difficult to manufacture, be precluded from commercialization by the proprietary rights of third parties, or have unintended side effects, adverse reactions or incidents of misuse; and those risks and uncertainties described under the heading “Risk Factors” in the company’s Annual Report on Form 10-K for the year ended Dec. 31, 2025 and in subsequent filings made by the company with the U.S. Securities and Exchange Commission (SEC), which are available on the SEC’s website at www.sec.gov. Existing and prospective investors are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof. Except as required by law, the company disclaims any intention or responsibility for updating or revising any forward-looking statements contained in this press release.

VIVITROL® is a registered trademark of Alkermes, Inc.; ARISTADA®, ARISTADA INITIO® and LYBALVI® are registered trademarks of Alkermes Pharma Ireland Limited, used by Alkermes, Inc. under license; LUMRYZ® is a registered trademark of Flamel Ireland Limited, an affiliate of Alkermes plc; BYANNLI®, INVEGA HAFYERA®, INVEGA TRINZA®, TREVICTA® and XEPLION®, are registered trademarks of Johnson & Johnson or its affiliated companies; and VUMERITY® is a registered trademark of Biogen MA Inc., used by Alkermes under license.

(tables follow)

i  The term “ARISTADA” as used in this press release refers to ARISTADA and ARISTADA INITIO®, unless the context indicates otherwise.

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Alkermes plc and Subsidiaries
Selected Financial Information (Unaudited)
Condensed Consolidated Statements of Operations - GAAP		Three Months Ended				Three Months Ended
(In thousands, except per share data)		September 30, 2026				September 30, 2025
Revenues:
Product sales, net		$	417,280			$	317,423
Manufacturing and royalty revenues			62,852				76,762
Total Revenues			480,132				394,185
Expenses:
Cost of goods manufactured and sold			94,220				51,591
Research and development			121,120				81,739
Selling, general and administrative			208,502				171,773
Amortization of acquired intangible assets			19,698				—
Change in the fair value of contingent consideration			568				—
Total Expenses			444,108				305,103
Operating Income			36,024				89,082
Other (Expense) Income, net:
Interest income			6,487				11,943
Interest expense			(27,551	)			—
Other expense, net			(223	)			(280	)
Total Other (Expense) Income, net			(21,287	)			11,663
Income Before Income Taxes			14,737				100,745
Income Tax (Benefit) Provision			(1,550	)			17,984
Net Income — GAAP		$	16,287			$	82,761
Earnings Per Share - Basic		$	0.10			$	0.50
Earnings Per Share - Diluted		$	0.09			$	0.49
Weighted Average Number of Ordinary Shares Outstanding:
Basic			167,872				165,086
Diluted			176,370				168,510
An itemized reconciliation between net income on a GAAP basis and Adjusted EBITDA is as follows:
Net Income — GAAP		$	16,287			$	82,761
Adjustments:
Interest income			(6,487	)			(11,943	)
Interest expense			27,551				—
Income tax (benefit) provision			(1,550	)			17,984
Depreciation expense			7,461				8,060
Amortization of acquired intangible assets			19,698				19
EBITDA			62,960				96,881
Share-based compensation			26,747				24,665
Costs related to the acquisition of Avadel			29,790				—
Change in the fair value of contingent consideration			568				—
Adjusted EBITDA		$	120,065			$	121,546

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Alkermes plc and Subsidiaries
Selected Financial Information (Unaudited)
Condensed Consolidated Statements of Operations - GAAP		Nine Months Ended				Nine Months Ended
(In thousands, except per share data)		September 30, 2026				September 30, 2025
Revenues:
Product sales, net		$	1,167,118			$	869,151
Manufacturing and royalty revenues			201,934				222,201
Total Revenues			1,369,052				1,091,352
Expenses:
Cost of goods manufactured and sold			253,910				150,248
Research and development			337,385				230,926
Selling, general and administrative			690,720				514,326
Amortization of acquired intangible assets			53,958				—
Change in the fair value of contingent consideration			26,982				—
Total Expenses			1,362,955				895,500
Operating Income			6,097				195,852
Other (Expense) Income, net:
Interest income			20,370				33,174
Interest expense			(74,368	)			—
Other (expense) income, net			(1,164	)			2,047
Total Other (Expense) Income, net			(55,162	)			35,221
(Loss) Income Before Income Taxes			(49,065	)			231,073
Income Tax Provision			627				38,750
Net (Loss) Income — GAAP		$	(49,692	)		$	192,323
(Loss) Earnings Per Share - Basic		$	(0.30	)		$	1.17
(Loss) Earnings Per Share - Diluted		$	(0.30	)		$	1.14
Weighted Average Number of Ordinary Shares Outstanding:
Basic			167,037				164,490
Diluted			167,037				168,445
An itemized reconciliation between net (loss) income on a GAAP basis and Adjusted EBITDA is as follows:
Net (Loss) Income — GAAP		$	(49,692	)		$	192,323
Adjustments:
Interest income			(20,370	)			(33,174	)
Interest expense			74,368				—
Income tax provision			627				38,750
Depreciation expense			22,907				23,262
Amortization of acquired intangible assets			53,958				56
EBITDA			81,798				221,217
Share-based compensation			112,624				72,441
Costs related to the acquisition of Avadel			118,140				—
Change in the fair value of contingent consideration			26,982				—
Adjusted EBITDA		$	339,544			$	293,658

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Alkermes plc and Subsidiaries
Selected Financial Information (Unaudited)
Condensed Consolidated Balance Sheets		September 30,				December 31,
(In thousands)		2026				2025
Cash, cash equivalents and total investments		$	787,574			$	588,360
Restricted cash			—				731,206
Receivables			459,090				334,025
Inventory			261,098				196,625
Prepaid expenses and other current assets			105,086				79,090
Property, plant and equipment, net			215,023				221,722
Intangible assets, net			1,741,758				815
Goodwill			592,519				83,027
Deferred tax assets			120,771				125,815
Other assets			152,604				126,308
Total Assets		$	4,435,523			$	2,486,993
Accrued sales discounts, allowances and reserves		$	323,406			$	247,126
Long-term debt, current portion			26,500				—
Other current liabilities			302,027				296,311
Long-term debt			1,471,231				—
Other long-term liabilities			447,638				124,261
Total shareholders' equity			1,864,721				1,819,295
Total Liabilities and Shareholders' Equity		$	4,435,523			$	2,486,993
Ordinary shares outstanding (in thousands)			168,030				165,607
This selected financial information should be read in conjunction with the consolidated financial statements and notes thereto included in Alkermes plc's Quarterly Report on Form 10-Q for the quarter ended September 30, 2026, which the company intends to file in November 2026.

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Alkermes plc and Subsidiaries
Summary of Costs Related to the Acquisition of Avadel
		Three Months Ended September 30, 2026
(In thousands)		GAAP Results				Costs Related to the Acquisition of Avadel				Net of Costs Related to the Acquisition of Avadel					Three Months Ended September 30, 2025
Cost of goods manufactured and sold		$	94,220			$	28,650			$	65,570				$	51,591
Research and development		$	121,120			$	111			$	121,009				$	81,739
Selling, general and administrative		$	208,502			$	1,029			$	207,473				$	171,773
		Nine Months Ended September 30, 2026
(In thousands)		GAAP Results				Costs Related to the Acquisition of Avadel (1)				Net of Costs Related to the Acquisition of Avadel					Nine Months Ended September 30, 2025
Cost of goods manufactured and sold		$	253,910			$	72,413			$	181,497				$	150,248
Research and development		$	337,385			$	8,314			$	329,071				$	230,926
Selling, general and administrative		$	690,720			$	57,602			$	633,118				$	514,326
(1) Includes $20,188 of share-based compensation expense related to the acceleration of vesting of equity awards for Avadel employees which vested in full upon the closing of the transaction.

8

Third Quarter 2026Financial Results & Business Update November 3, 2026 Exhibit 99.2

Forward-Looking Statements and Non-GAAP Financial Information Certain statements set forth in this presentation constitute “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995, as amended, including, but not limited to, statements concerning: Alkermes plc’s (the “Company”) expectations with respect to its current and future financial, commercial and operating performance, business plans or prospects, including expected revenue and profitability. The Company cautions that forward-looking statements are inherently uncertain. Actual performance and results may differ materially from those expressed or implied in the forward-looking statements due to various risks, assumptions and uncertainties. These risks, assumptions and uncertainties include, among others: the Company may not be able to achieve its financial expectations, including those related to revenue and profitability; the Company’s commercial activities may not result in the benefits that the Company anticipates; the unfavorable outcome of arbitration, litigation, including so-called “Paragraph IV” litigation, or other proceedings or disputes related to the Company’s products or products using the Company’s proprietary technologies; the U.S. Food and Drug Administration or other regulatory authorities may make adverse decisions regarding the Company’s products; the Company and its licensees may not be able to continue to successfully commercialize their products or support growth of such products; potential changes in the competitive landscape impacting our products, including earlier than anticipated entry of competition from generic forms of our products or competitive products and negotiated maximum fair pricing of competitive products; potential changes in the cost, scope, design or duration of the Company’s development activities; the results of the Company’s development activities may not be positive, or predictive of final results from such activities, results of future development activities or real-world results; the expected benefits and value of the acquisition of Avadel Pharmaceuticals plc (“Avadel”) may not be achieved and there may be unknown or inestimable liabilities, potential litigation and transaction costs associated with the acquisition; there may be a reduction in payment rate or reimbursement for the Company’s products or an increase in the Company’s financial obligations to government payers; the Company’s products may prove difficult to manufacture, be precluded from commercialization by the proprietary rights of third parties, or have unintended side effects, adverse reactions or incidents of misuse; and those risks, assumptions and uncertainties described under the heading “Risk Factors” in the Company’s Annual Report on Form 10-K for the year ended Dec. 31, 2025 and in subsequent filings made by the Company with the U.S. Securities and Exchange Commission (“SEC”), which are available on the SEC’s website at www.sec.gov, and on the Company’s website at www.alkermes.com in the ‘Investors – SEC Filings’ section. Existing and prospective investors are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof. Except as required by law, the Company disclaims any intention or responsibility for updating or revising any forward-looking statements contained in this presentation. Non-GAAP Financial Measures: This presentation includes information about certain financial measures that are not prepared in accordance with generally accepted accounting principles in the U.S. (“GAAP”), including EBITDA (earnings before interest, taxes, depreciation and amortization) and Adjusted EBITDA (excludes share‐based compensation expense and non‐recurring gains or losses in addition to the components of EBITDA from earnings). The Company provides these non-GAAP financial measures of the Company’s performance to investors because management believes that these non-GAAP financial measures, when viewed with the Company’s results under GAAP and the accompanying reconciliations, are useful in identifying underlying trends in ongoing operations. These non-GAAP measures are not based on any standardized methodology prescribed by GAAP and are not necessarily comparable to similar measures presented by other companies. Reconciliations of non-GAAP financial measures to the most directly comparable GAAP financial measures, to the extent reasonably determinable, can be found in the Appendix of this presentation. Note Regarding Trademarks: The Company and its affiliates are the owners of various U.S. federal trademark registrations (®) and other trademarks (TM), including ARISTADA®, ARISTADA INITIO®, LUMRYZ®, LYBALVI® and VIVITROL®. Any other trademarks referred to in this presentation are the property of their respective owners. Appearances of such other trademarks herein should not be construed as any indicator that their respective owners will not assert their rights thereto.

Q3 2026 Financial and Operational Performance

In millions Q3 2026 Financial Results Summary Total Revenue In millions GAAP Net Income GAAP Earnings Per Share Diluted 2026 results reflect the acquisition of Avadel in February 2026.

In millions Q3 2026 Profitability GAAP Net Income In millions Adjusted EBITDA* EBITDA* In millions EBITDA represents earnings before interest, tax, depreciation and amortization. Adjusted EBITDA excludes share‐based compensation expense and non‐recurring gains or losses in addition to the components of EBITDA from earnings.*Reconciliation of this non-GAAP financial measure to the most directly comparable GAAP financial measure can be found in the Appendix of this presentation.

Q3 2026 Revenue Summary In millions Q3’26 Q3’25 Total Proprietary Net Sales $417.3 $317.4 VIVITROL® $127.6 $121.1 ARISTADA®* $103.9 $98.1 LYBALVI® $95.9 $98.2 LUMRYZ® $89.9 -- Manufacturing & Royalty Revenue $62.9 $76.8 Total Revenue $480.1 $394.2 Amounts in the table may not sum due to rounding. *Inclusive of ARISTADA INITIO®

Alkermes: 2026 Financial Expectations a The acquisition of Avadel closed on Feb. 12, 2026. Expected net sales of LUMRYZ represents the period of Feb. 12, 2026 – Dec. 31, 2026. Avadel recorded net sales of LUMRYZ of approx. $33 million between Jan. 1, 2026 and Feb. 11, 2026. b In connection with the acquisition of Avadel, the Company will record approximately $125 million of LUMRYZ inventory fair value step-up; the Company expects that approximately $105 million of this amount will be expensed in 2026 as this inventory is sold. c In connection with the acquisition of Avadel, the Company expects to record approximately $1.8 billion of intellectual property related to LUMRYZ, which will be amortized over an expected life of 14 years. d In connection with the positive topline results of the LUMRYZ phase 3 study in idiopathic hypersomnia, the Company recorded an increase of $26.4 million in the fair value of contingent consideration related to the Avadel acquisition contingent value right (CVR) milestone. *These expectations were provided by the Company on July 28, 2026, are reiterated by the Company on Nov. 3, 2026 and are effective only as of such date. The Company expressly disclaims any obligation to update or reaffirm these expectations. **These expectations were initially provided by the Company on Feb. 25, 2026, are reiterated by the Company on Nov. 3, 2026 and are effective only as of such date. The Company expressly disclaims any obligation to update or reaffirm these expectations. ‡Reconciliation of this non-GAAP financial measure to the most directly comparable GAAP financial measure can be found in the Appendix of this presentation. i Inclusive of ARISTADA INITIO®. (in millions) Financial Expectations for Year Ending Dec. 31, 2026* Total Revenues $1,730 – $1,840 Cost of Goods Soldb $320 – $340 R&D Expenses $445 – $485 SG&A Expenses $890 – $930 Amortization of Intangible Assetsc $75 – $85 Change in the fair value of contingent considerationd ~$25 Net Interest Expense $75 – $85 GAAP Net Loss ($95) – ($115) EBITDA‡ $75 – $95 Adjusted EBITDA‡ $370 – $410 Net Tax Benefit ~$0 Expected net sales of proprietary products:** VIVITROL® net sales of $460M – $480M LYBALVI® net sales of $380M – $400M ARISTADA®i net sales of $365M – $385M LUMRYZ®a net sales of $315M – $335M EBITDA represents earnings before interest, tax, depreciation and amortization. Adjusted EBITDA excludes share‐based compensation expense and non‐recurring gains or losses in addition to the components of EBITDA from earnings.

Q3 2026 Commercial Review

VIVITROL® Performance and Expectations *These expectations were initially provided by the Company on Feb. 25, 2026, are reiterated by the Company on Nov. 3, 2026 and are effective only as of such date. The Company expressly disclaims any obligation to update or reaffirm these expectations. Q3’26 VIVITROL net sales were $127.6M Outlook: FY’26 net sales expected to range from $460M – $480M* VIVITROL Quarterly Net Sales ($M)

ARISTADA® Performance and Expectations Q3’26 ARISTADA net sales were $103.9M Outlook: FY’26 net sales expected to range from $365M – $385M†* *Inclusive of ARISTADA INITIO®†These expectations were initially provided by the Company on Feb. 25, 2026, are reiterated by the Company on Nov. 3, 2026 and are effective only as of such date. The Company expressly disclaims any obligation to update or reaffirm these expectations. ARISTADA Quarterly Net Sales* ($M)

LYBALVI® Performance and Expectations *These expectations were initially provided by the Company on Feb. 25, 2026, are reiterated by the Company on Nov. 3, 2026 and are effective only as of such date. The Company expressly disclaims any obligation to update or reaffirm these expectations. **These expectations were initially provided by the Company on Nov. 3, 2026 and are effective only as of such date. The Company expressly disclaims any obligation to update or reaffirm these expectations. Q3’26 LYBALVI net sales of $95.9M Q3’26 gross-to-net deductions: ~42% Outlook: FY’26 net sales expected to range from $380M – $400M* FY’27 gross-to-net deductions expected to be: ~45%** LYBALVI Quarterly Net Sales ($M)

LUMRYZ® Performance and Expectations *These expectations were initially provided by the Company on Feb. 25, 2026, are reiterated by the Company on Nov. 3, 2026 and are effective only as of such date. The Company expressly disclaims any obligation to update or reaffirm these expectations. Q3’26 LUMRYZ net sales were $89.9M ~4,100 patients on therapy as of 9/30/26 Outlook: FY’26 net sales expected to range from $315M – $335M* (for the period of Feb. 12, 2026 – Dec. 31, 2026) LUMRYZ Quarterly Net Sales ($M)

Appendix

Appendix: Financial Results GAAP to Non-GAAP Reconciliation (In millions) Three Months Ended September 30, 2026 Three Months Ended September 30, 2025 Net Income — GAAP $ 16.3 $ 82.8 Adjustments: Interest income (6.5) (11.9) Interest expense 27.6 -- Income tax (benefit) provision (1.6) 18.0 Depreciation expense 7.5 8.1 Amortization of acquired intangible assets 19.7 0.0 EBITDA 63.0 96.9 Share-based compensation 26.7 24.7 Costs related to the acquisition of Avadel 29.8 -- Change in the fair value of contingent consideration 0.6 -- Adjusted EBITDA $ 120.1 $ 121.5 Amounts in the table may not sum due to rounding.

Appendix: Financial Expectations GAAP to Non-GAAP Reconciliation Projected GAAP and non-GAAP measures in the table above reflect the mid-points within the Company’s financial expectations ranges. (In millions) Year Ended December 31, 2023 Year Ending December 31, 2026 Projected Net Loss — GAAP $ (105.0) Adjustments: Net interest expense 80.0 Depreciation and amortization expense 110.0 Income tax benefit -- Projected EBITDA $ 85.0 Share-based compensation expense 125.0 Costs related to the acquisition of Avadel 155.0 Change in the fair value of contingent consideration 25.0 Projected Adjusted EBITDA $ 390.0

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