Aurinia raises 2026 revenue outlook to $325M–$330M
Aurinia raised its 2026 total revenue range and narrowed its net product sales range.
Sentiment and the balance of points
Rhea-AI Sentiment reads the wording of the document, how positive or negative its language is on a 1 to 5 scale. The balance of points shown with the takes weighs what the document actually discloses, so the two can disagree, for example when a trial that missed its main goal is described in upbeat language.
Form Type
8-K
Rhea-AI Filing Summary
Aurinia Pharmaceuticals Inc. (AUPH) reported third-quarter 2026 revenue of $83.7 million, up 14% from a year earlier, while net income was $31.7 million, described as flat versus $31.6 million. For the first nine months, revenue was $244.6 million, up 19%; net income was $103.5 million, up 35%; diluted earnings per share was $0.76, up 38%; and operating cash flow was $131.5 million, up 46%.
Aurinia raised 2026 total revenue guidance from a range of $315 million to $325 million to a range of $325 million to $330 million, and narrowed net product sales guidance from $305 million to $315 million to $310 million to $315 million. Cash, cash equivalents, restricted cash and investments totaled $486.9 million as of September 30, 2026, compared with $398.0 million at December 31, 2025. Nine-month financing activities included repurchases of 5.0 million common shares for $74.9 million.
Aurinia initiated PRESERVE, a Phase 4 study combining LUPKYNIS with belimumab, obinutuzumab or anifrolumab, and initiated clinical development of aritinercept in four potential indications.
4 points · 1 major0 major · 0 points
How this balance works
Rhea-AI gives every point it takes from this document a weight. Minor counts 1, Moderate 3 and Major 9, so one Major point outweighs several Minor ones. The bar adds up the weights on each side, and when neither side holds more than 65% of the total the balance reads Mixed.
It reads the document as published, with the same rules for every company, and it does not look at what the market expected or at how the stock traded, so a point can be objectively good on a day the stock falls.
Rhea-AI Sentiment measures something else, the tone of the wording.
Hollow bars mark forward-looking points. How the balance works
Positive
- Major point. Forward-looking: it has not happened yet and may not happen.2026 total revenue guidance raised to $325 million to $330 million.
- Moderate pointNine-month revenue: $244.6 million, up 19%.
- Moderate pointNine-month net income: $103.5 million, up 35%.
- Moderate pointNine-month operating cash flow: $131.5 million, up 46%.
Negative
- None.
Filing Explained
Aurinia reports 133,995 thousand common shares issued and outstanding at
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: $83.7 million
Total revenue: $244.6 million
Net product sales: $232.4 million
+5 more
8 metrics
Total revenue
$83.7 million
Three months ended September 30, 2026; up 14% from $73.5 million in 2025
Total revenue
$244.6 million
Nine months ended September 30, 2026; up 19% from $205.9 million in 2025
Net product sales
$232.4 million
Nine months ended September 30, 2026; up 18% from $197.2 million in 2025
Net income
$103.5 million
Nine months ended September 30, 2026; up 35% from $76.4 million in 2025
Diluted earnings per share
$0.76
Nine months ended September 30, 2026; up 38% from $0.55 in 2025
Cash flows from operating activities
$131.5 million
Nine months ended September 30, 2026; up 46% from $90.0 million in 2025
Cash, cash equivalents, restricted cash and investments
$486.9 million
As of September 30, 2026, compared with $398.0 million at December 31, 2025
2026 total revenue guidance
$325 million to $330 million
Raised from a range of $315 million to $325 million
Key Terms
complete renal response (CRR), B cell-activating factor (BAFF), a proliferation-inducing ligand (APRIL), Phase 4
4 terms
complete renal response (CRR) medical
"complete renal response (CRR) at 6 months"
B cell-activating factor (BAFF) medical
"dual inhibitor of B cell-activating factor (BAFF)"
a proliferation-inducing ligand (APRIL) medical
"a proliferation-inducing ligand (APRIL) for the potential treatment"
A proliferation-inducing ligand (APRIL) is a naturally occurring protein that helps certain immune cells—especially antibody-producing B cells and plasma cells—survive and multiply. Investors pay attention because drugs that block or mimic APRIL can alter the course of cancers and autoimmune diseases; positive or negative clinical and regulatory news about APRIL-targeting therapies can quickly change a biotech’s prospects, much like a key ingredient deciding whether a recipe succeeds or fails.
Phase 4 medical
"Phase 4, multicenter study investigating the combination"
Phase 4 is the stage after a drug or vaccine has been approved and is sold to the public, where regulators and companies keep watching how it performs in the real world to detect rare side effects, long‑term effects, or differences in effectiveness across different groups. Think of it as ongoing quality control for a product already on shelves; results can prompt label changes, safety warnings, sales impacts or recalls, all of which matter to investors evaluating risk and future revenue.
Earnings Snapshot
Total revenue, three months: $83.7 million · Guidance included
Three and nine months ended September 30, 2026
Total revenue, three months
$83.7 million
Up 14% from $73.5 million in 2025
Total revenue, nine months
$244.6 million
Up 19% from $205.9 million in 2025
Net income, nine months
$103.5 million
Up 35% from $76.4 million in 2025
Diluted earnings per share, nine months
$0.76
Up 38% from $0.55 in 2025
Cash flows from operating activities, nine months
$131.5 million
Up 46% from $90.0 million in 2025
Guidance
Raised 2026 total revenue guidance to $325 million to $330 million; narrowed net product sales guidance to $310 million to $315 million.
FAQ
AI-generated questions and answers. How Rhea-AI works. Not financial advice.
How much revenue did AUPH report in the third quarter of 2026?
Aurinia reported total revenue of $83.7 million, up 14% from $73.5 million in the same 2025 period. Net product sales were $79.4 million, up 12% from $70.6 million.
What is Aurinia's 2026 revenue guidance?
Aurinia raised total revenue guidance from a range of $315 million to $325 million to $325 million to $330 million. It narrowed net product sales guidance from $305 million to $315 million to $310 million to $315 million.
How is Aurinia's PRESERVE study designed?
PRESERVE is investigating LUPKYNIS in combination with belimumab, obinutuzumab or anifrolumab. Planned enrollment is approximately 150 patients across approximately 50 U.S. sites; the primary endpoint is the proportion achieving complete renal response at 6 months.
AI-generated analysis. How Rhea-AI works. Not financial advice.
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): October 30, 2026
(Exact name of registrant as specified in its charter)
(State or Other Jurisdiction of Incorporation) | (Commission File No.) | (IRS Employer Identification No.) | ||||||||||||
(250 ) 744-2487
(Address and telephone number of registrant's principal executive offices)
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:
| 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 | ||||||||||||
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 October 30, 2026, Aurinia Pharmaceuticals Inc. (“Aurinia”) issued a press release announcing its financial results for the three months ended September 30, 2026. A copy of the press release is furnished as Exhibit 99.1.
The information in this Current Report on Form 8-K and the exhibit hereto are being furnished pursuant to this Item 2.02 and shall not be deemed to be “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), or otherwise subject to the liability of that section or Sections 11 and 12(a)(2) of the Securities Act of 1933, as amended. In addition, the information included in this Current Report on Form 8-K and the exhibit hereto that is furnished pursuant to this Item 2.02 shall not be incorporated by reference in any of Aurinia's filings under the Securities Act of 1933, as amended, or the Exchange Act, whether made before or after the date hereof, regardless of any general incorporation language in such filing, except as expressly set forth by specific reference in such filing.
| Item 9.01 | Financial Statements and Exhibits | ||||
(d) Exhibits.
| Exhibit No. | Description | |||||||
| 99.1 | Earnings release dated October 30, 2026 | |||||||
| 104 | Cover Page Interactive Data File (the cover page XBRL tags are embedded within the Inline XBRL document) | |||||||
SIGNATURES
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.
Date: October 30, 2026
| AURINIA PHARMACEUTICALS INC. | ||||||||
| By: | /s/ Michael Hearne | |||||||
| Name: | Michael Hearne | |||||||
| Title: | Chief Financial Officer | |||||||
| Exhibit 99.1 | ||||||||
 | ||||||||
Aurinia Pharmaceuticals Reports Financial Results for the Three and Nine Months Ended
September 30, 2026 and Provides Update on Recent Business Progress
EDMONTON, Alberta – October 30, 2026 – Aurinia Pharmaceuticals Inc. (NASDAQ: AUPH) today announced financial results for the three and nine months ended September 30, 2026 and provided an update on recent business progress.
Financial Results
•Total Revenue: For the three and nine months ended September 30, 2026, total revenue was $83.7 million and $244.6 million, up 14% and 19%, respectively, from $73.5 million and $205.9 million, respectively, in the same periods of 2025.
–Net Product Sales: For the three and nine months ended September 30, 2026, net product sales of LUPKYNIS, the first FDA-approved oral therapy for the treatment of adult patients with active lupus nephritis, were $79.4 million and $232.4 million, up 12% and 18%, respectively, from $70.6 million and $197.2 million, respectively, in the same periods of 2025.
–License, Collaboration and Royalty Revenue: For the three and nine months ended September 30, 2026, license, collaboration and royalty revenue was $4.3 million and $12.2 million, up 54% and 39%, respectively, from $2.8 million and $8.8 million, respectively, in the same periods of 2025.
•Net Income: For the three and nine months ended September 30, 2026, net income before taxes was $38.7 million and $131.4 million, up 21% and 67%, respectively, from $32.0 million and $78.5 million, respectively, in the same periods of 2025. For the three and nine months ended September 30, 2026, net income was $31.7 million and $103.5 million, flat and up 35%, respectively, from $31.6 million and $76.4 million, respectively, in the same periods of 2025.
•Diluted Earnings per Share: For the three and nine months ended September 30, 2026, diluted earnings per share was $0.23 and $0.76, flat and up 38%, respectively, from $0.23 and $0.55, respectively, in the same periods of 2025.
•Cash Flows from Operating Activities: For the three and nine months ended September 30, 2026, cash flows from operating activities were $46.4 million and $131.5 million, up 4% and 46%, respectively, from $44.5 million and $90.0 million, respectively, in the same periods of 2025.
Cash Position
As of September 30, 2026, Aurinia had cash, cash equivalents, restricted cash and investments of $486.9 million, compared to $398.0 million at December 31, 2025. For the nine months ended September 30, 2026, cash outflows from financing activities were $53.2 million, which primarily included the repurchase of 5.0 million of the Company’s common shares for $74.9 million, partially offset by proceeds from issuance of common shares for equity awards, net of tax withholding payments, of $35.9 million.
2026 Total Revenue and Net Product Sales Guidance
Aurinia is increasing its total revenue guidance for 2026 from a range of $315 million to $325 million to a range of $325 million to $330 million. Aurinia is narrowing its net product sales guidance for 2026 from a range of $305 million to $315 million to a range of $310 million to $315 million.
1
Recent Development Progress
LUPKYNIS
Aurinia has recently initiated PRESERVE, a Phase 4, multicenter study investigating the combination of LUPKYNIS and belimumab, obinutuzumab or anifrolumab in patients with lupus nephritis. Belimumab is a B cell-activating factor (BAFF) inhibitor indicated for the treatment of both systemic lupus erythematosus (SLE) and lupus nephritis. Obinutuzumab is a CD20-directed cytolytic antibody indicated for the treatment of lupus nephritis. Anifrolumab is a type 1 interferon receptor antagonist indicated for the treatment of SLE. PRESERVE will investigate whether the multi-target approach of combining LUPKYNIS with these biologic agents improves outcomes in patients with lupus nephritis. Planned enrollment is approximately 150 patients across approximately 50 sites in the US. The Study’s primary endpoint is the proportion of patients achieving complete renal response (CRR) at 6 months.
Aritinercept
Aritinercept is a dual inhibitor of B cell-activating factor (BAFF) and a proliferation-inducing ligand (APRIL) for the potential treatment of autoimmune diseases. Aurinia has now initiated clinical development of aritinercept in four potential indications.
About Aurinia
Aurinia is a biopharmaceutical company focused on delivering therapies to people living with autoimmune diseases with high unmet medical needs. In January 2021, the Company introduced LUPKYNIS® (voclosporin), the first FDA-approved oral therapy for the treatment of adult patients with active lupus nephritis. Aurinia is also developing aritinercept, a dual inhibitor of B cell-activating factor (BAFF) and a proliferation-inducing ligand (APRIL) for the potential treatment of autoimmune diseases.
Forward-Looking Statements
This press release contains forward-looking information within the meaning of applicable Canadian securities law and forward-looking statements within the meaning of applicable U.S. securities law. We caution investors that forward-looking statements are based on management’s expectations and assumptions as of the date of this press release and involve substantial risks and uncertainties that could cause the actual outcomes to differ materially from what we currently expect. These risks and uncertainties include, but are not limited to, those associated with: LUPKYNIS net product sales, the timing of clinical study results and other risks and uncertainties identified in our filings with the U.S. Securities and Exchange Commission. Forward-looking statements in this press release apply only as of the date made, and we undertake no obligation to update or revise any forward-looking statements to reflect subsequent events or circumstances. Additional information related to Aurinia, including a detailed list of the risks and uncertainties affecting Aurinia and its business, can be found in Aurinia’s most recent Annual Report on Form 10-K and its other public available filings available by accessing the Canadian Securities Administrators’ System for Electronic Document Analysis and Retrieval (SEDAR) website at www.sedarplus.ca or the U.S. Securities and Exchange Commission’s Electronic Document Gathering and Retrieval System (EDGAR) website at www.sec.gov/edgar, and on Aurinia’s website at www.auriniapharma.com.
Investor Inquiries
ir@auriniapharma.com
2
AURINIA PHARMACEUTICALS INC. AND SUBSIDIARIES
CONDENSED CONSOLIDATED BALANCE SHEETS
(in thousands)
| September 30, 2026 | December 31, 2025 | |||||||||||||
| (Unaudited) | ||||||||||||||
| ASSETS | ||||||||||||||
| Current assets: | ||||||||||||||
| Cash, cash equivalents and restricted cash | $ | 46,145 | $ | 80,213 | ||||||||||
| Short-term investments | 440,735 | 317,784 | ||||||||||||
| Accounts receivable, net | 47,414 | 41,454 | ||||||||||||
| Inventory | 43,728 | 45,690 | ||||||||||||
Prepaid expenses and deposits | 5,915 | 5,746 | ||||||||||||
| Other current assets | 3,949 | 1,080 | ||||||||||||
| Total current assets | 587,886 | 491,967 | ||||||||||||
| Deferred tax assets, net | 170,652 | 176,194 | ||||||||||||
| Finance right-of-use lease assets | 60,795 | 73,865 | ||||||||||||
| Intangible assets, net | 3,169 | 3,761 | ||||||||||||
| Property and equipment, net | 1,737 | 2,111 | ||||||||||||
| Operating right-of-use lease assets | 1,372 | 3,596 | ||||||||||||
| Other noncurrent assets | 93 | 93 | ||||||||||||
| Total assets | $ | 825,704 | $ | 751,587 | ||||||||||
| LIABILITIES AND SHAREHOLDERS' EQUITY | ||||||||||||||
| Current liabilities: | ||||||||||||||
| Accounts payable | $ | 3,014 | $ | 3,313 | ||||||||||
| Accrued expenses | 63,299 | 66,621 | ||||||||||||
| Finance lease liabilities, current portion | 16,150 | 16,523 | ||||||||||||
| Deferred revenue | 10,413 | 3,720 | ||||||||||||
| Operating lease liabilities, current portion | 1,808 | 1,067 | ||||||||||||
| Other current liabilities | 1,321 | 2,480 | ||||||||||||
| Total current liabilities | 96,005 | 93,724 | ||||||||||||
| Finance lease liabilities, less current portion | 39,028 | 52,322 | ||||||||||||
| Deferred tax benefits | 23,128 | — | ||||||||||||
| Deferred revenue, less current portion | 7,157 | 12,648 | ||||||||||||
| Operating lease liabilities, less current portion | 1,677 | 4,900 | ||||||||||||
| Other noncurrent liabilities | 1,190 | 6,662 | ||||||||||||
| Total liabilities | 168,185 | 170,256 | ||||||||||||
| Shareholders' equity | ||||||||||||||
| Common shares — no par value, unlimited shares authorized, 133,995 and 132,323 shares issued and outstanding at September 30, 2026 and December 31, 2025, respectively | 1,127,503 | 1,120,035 | ||||||||||||
| Additional paid-in capital | 77,044 | 111,263 | ||||||||||||
| Accumulated other comprehensive loss | (1,132) | (599) | ||||||||||||
| Accumulated deficit | (545,896) | (649,368) | ||||||||||||
| Total shareholders' equity | 657,519 | 581,331 | ||||||||||||
| Total liabilities and shareholders' equity | $ | 825,704 | $ | 751,587 | ||||||||||
3
AURINIA PHARMACEUTICALS INC. AND SUBSIDIARIES
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS
(Unaudited)
(in thousands, except per share data)
Three Months Ended | Nine Months Ended | |||||||||||||||||||||||||
| September 30, | September 30, | |||||||||||||||||||||||||
| 2026 | 2025 | 2026 | 2025 | |||||||||||||||||||||||
| Revenue | ||||||||||||||||||||||||||
Net product sales | $ | 79,418 | $ | 70,627 | $ | 232,393 | $ | 197,172 | ||||||||||||||||||
License, collaboration and royalty revenue | 4,281 | 2,841 | 12,231 | 8,769 | ||||||||||||||||||||||
Total revenue | 83,699 | 73,468 | 244,624 | 205,941 | ||||||||||||||||||||||
| Operating expenses | ||||||||||||||||||||||||||
| Cost of revenue | 8,306 | 8,177 | 21,366 | 23,866 | ||||||||||||||||||||||
| Selling, general and administrative | 24,684 | 26,182 | 70,221 | 72,539 | ||||||||||||||||||||||
| Research and development | 16,613 | 8,435 | 37,133 | 21,610 | ||||||||||||||||||||||
| Restructuring | — | — | — | 1,647 | ||||||||||||||||||||||
| Other (income) expense, net | (1,267) | 929 | (7,222) | 14,604 | ||||||||||||||||||||||
| Total operating expenses | 48,336 | 43,723 | 121,498 | 134,266 | ||||||||||||||||||||||
| Income from operations | 35,363 | 29,745 | 123,126 | 71,675 | ||||||||||||||||||||||
| Interest income | 4,219 | 3,316 | 11,127 | 10,075 | ||||||||||||||||||||||
| Interest expense | (867) | (1,099) | (2,827) | (3,283) | ||||||||||||||||||||||
| Net income before income taxes | 38,715 | 31,962 | 131,426 | 78,467 | ||||||||||||||||||||||
| Income tax expense | 7,012 | 411 | 27,954 | 2,059 | ||||||||||||||||||||||
| Net income | $ | 31,703 | $ | 31,551 | $ | 103,472 | $ | 76,408 | ||||||||||||||||||
| Earnings per share | ||||||||||||||||||||||||||
| Basic | $ | 0.24 | $ | 0.24 | $ | 0.78 | $ | 0.57 | ||||||||||||||||||
| Diluted | $ | 0.23 | $ | 0.23 | $ | 0.76 | $ | 0.55 | ||||||||||||||||||
| Shares used in computing earnings per share | ||||||||||||||||||||||||||
| Basic | 133,434 | 131,808 | 131,967 | 135,163 | ||||||||||||||||||||||
| Diluted | 135,173 | 136,008 | 135,346 | 138,959 | ||||||||||||||||||||||
4
AURINIA PHARMACEUTICALS INC. AND SUBSIDIARIES
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS
(Unaudited)
(in thousands)
| Nine Months Ended September 30, | ||||||||||||||
| 2026 | 2025 | |||||||||||||
| Cash flows from operating activities: | ||||||||||||||
Net income | $ | 103,472 | $ | 76,408 | ||||||||||
| Adjustments to reconcile net income to cash flows from operating activities: | ||||||||||||||
| Deferred income tax | 28,670 | — | ||||||||||||
| Share-based compensation | 8,097 | 7,950 | ||||||||||||
| Amortization and depreciation | 14,491 | 14,585 | ||||||||||||
| Foreign exchange (gain) loss on revaluation of Monoplant finance lease liability | (2,605) | 9,318 | ||||||||||||
| Net amortization of premiums and discounts on investments | (6,141) | (7,844) | ||||||||||||
| Other, net | (1,498) | 4,852 | ||||||||||||
| Net changes in operating assets and liabilities: | ||||||||||||||
| Accounts receivable, net | (5,960) | 5,816 | ||||||||||||
Inventory | 1,962 | (5,565) | ||||||||||||
| Prepaid expenses and other current assets | (2,983) | 940 | ||||||||||||
| Other noncurrent operating assets | — | 730 | ||||||||||||
| Accounts payable | (2,172) | (2,973) | ||||||||||||
| Accrued expenses and other liabilities | (4,372) | (17,777) | ||||||||||||
| Deferred revenue | 1,202 | 4,150 | ||||||||||||
| Operating lease liabilities | (670) | (600) | ||||||||||||
| Cash flows from operating activities | 131,493 | 89,990 | ||||||||||||
| Cash flows from investing activities: | ||||||||||||||
| Proceeds from the sale and maturities of investments | 297,650 | 348,785 | ||||||||||||
| Purchases of investments | (415,164) | (344,618) | ||||||||||||
| Net cash and cash equivalents acquired in acquisition of Kezar | 5,212 | — | ||||||||||||
| Purchases of property, equipment and intangible assets | (63) | (180) | ||||||||||||
| Cash flows from investing activities | (112,365) | 3,987 | ||||||||||||
| Cash flows from financing activities: | ||||||||||||||
| Purchase of common shares under Share Repurchase Plan | (74,880) | (98,156) | ||||||||||||
Payments of principal portion of Monoplant finance lease liability | (10,902) | (9,649) | ||||||||||||
Proceeds from issuance of common shares for equity awards | 69,559 | 12,583 | ||||||||||||
| Payment of Net Cash Excess CVR to legacy Kezar shareholders | (3,696) | — | ||||||||||||
Proceeds from issuance of common shares under ESPP | 363 | 401 | ||||||||||||
| Tax withholding payments related to net settlements of equity awards | (33,640) | (9,400) | ||||||||||||
| Cash flows from financing activities | (53,196) | (104,221) | ||||||||||||
| Net decrease in cash, cash equivalents and restricted cash | (34,068) | (10,244) | ||||||||||||
| Cash, cash equivalents and restricted cash, beginning of the period | 80,213 | 83,433 | ||||||||||||
| Cash, cash equivalents and restricted cash, end of the period | $ | 46,145 | $ | 73,189 | ||||||||||
5