Elite Pharmaceuticals (OTCQB: ELTP) Q1 FY27 revenue falls to $32.4M
Rhea-AI Filing Summary
Elite Pharmaceuticals, Inc. reported financial results for the first quarter of fiscal year 2027, ended June 30, 2026. Consolidated revenues were $32.4 million, a decrease of $7.9 million or about 19.5% from the same quarter of the prior fiscal year, which had been its largest quarterly revenue. Income from operations was $7.5 million, down $14.2 million or about 65%, primarily due to lower margins on sales of the company’s generic Vyvanse product line as competitive market adjustments weighed more heavily on this quarter.
The company stated that, despite the year-over-year decline, first-quarter results are in line with the three preceding quarters. Net income attributable to common shareholders was $5.9 million. Management will discuss the results and provide a business update on a conference call scheduled for August 14, 2026 at 11:30 AM EDT.
Positive
- None.
Negative
- Revenue declined 19.5% year over year to $32.4 million, a drop of $7.9 million from the prior year’s first quarter.
- Income from operations fell about 65% to $7.5 million, decreasing by $14.2 million versus the same quarter last year, driven by lower margins on generic Vyvanse.
8-K Event Classification
Key Figures
Key Terms
Regulation FD Disclosure regulatory
forward-looking statements regulatory
cGMP technical
DEA-registered regulatory
Earnings Snapshot
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FAQ
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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(D)
OF THE SECURITIES EXCHANGE ACT OF 1934
Date of Report (Date of earliest event reported)
ELITE PHARMACEUTICALS, INC.
(Exact name of registrant as specified in its charter)
| (State or other jurisdiction | (Commission | (IRS Employer | ||
| of incorporation) | File Number) | Identification No.) |
(Address of principal executive offices)
(Registrant’s telephone number, including area code)
(Former name or former address, if changed since last report.)
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)) |
Indicate by check mark whether the registrant is an emerging growth company as defined in 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. ☐
| Title of each class | Trading Symbol(s) | Name of each exchange on which registered | ||
| OTCQB |
Item 2.02. Results of Operations and Financial Condition.
On August 13, 2026, Elite Pharmaceuticals, Inc. (“Elite” or the “Company”) filed its quarterly report on Form 10-Q for the first quarter ended June 30, 2026 of fiscal year 2027, and, thereafter, issued a press release announcing its financial results for that quarter. A copy of the press release is furnished as Exhibit 99.1 hereto and is incorporated herein by reference.
As noted in the press release, the Company will host a conference call at 11:30 AM Eastern Daylight Time (EDT) on Friday, August 14, 2026, to provide a general business update. Elite will respond to various stockholder questions submitted prior to the call.
Conference Call Information
| Date: | August 14, 2026 |
| Time: | 11:30 AM EDT |
| Dial-in numbers: | 1-800-346-7359 (domestic) |
| 1-973-528-0008 (international) | |
| Conference number: | 98840 |
| Questions: | dianne@elitepharma.com |
| Financial questions by 7:00 PM EDT on Thursday, August 13, 2026 | |
| Audio Replay: | https://elite.irpass.com/events_presentations |
Item 7.01 Regulation FD Disclosure.
The information disclosed in Item 2.02 above is incorporated into this Item 7.01. The information included in this Current Report on Form 8-K (including the exhibit hereto) is being furnished under Item 2.02, “Results of Operations and Financial Condition,” Item 7.01, “Regulation FD Disclosure” and Item 9.01 “Financial Statements and Exhibits” of Form 8-K. As such, the information (including the exhibit) herein shall not be deemed to be “filed” for the purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), or otherwise subject to the liabilities of that Section, nor shall it be incorporated by reference into a filing under the Securities Act of 1933, as amended, or the Exchange Act, regardless of any general incorporation language in such filing, except as shall be expressly set forth by specific reference in such a filing. This Current Report (including the exhibit hereto) will not be deemed an admission as to the materiality of any information required to be disclosed solely to satisfy the requirements of Regulation FD.
Item 9.01 Financial Statements and Exhibits.
(d) Exhibits.
| Exhibit No. | Description | |
| 99.1 | Press Release dated August 13, 2026 | |
| 104 | Cover Page Interactive Data File (embedded within the Inline XBRL document). |
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.
| Dated: August 13, 2026 | ELITE PHARMACEUTICALS, INC. |
| By: | /s/ Nasrat Hakim | |
| Nasrat Hakim, President and CEO |
Exhibit 99.1
Elite Pharmaceuticals, Inc. Reports Financial Results for the First Quarter of Fiscal Year 2027 ended June 30, 2026
and Provides Conference Call Information
Conference Call Scheduled for Friday, August 14, 2026 at 11:30 AM EDT
Northvale, NJ – August 13, 2026: Elite Pharmaceuticals, Inc. (“Elite” or the “Company”) (OTCQB: ELTP), a specialty pharmaceutical company developing niche generic products, announced results for the first quarter of fiscal year 2027 ended June 30, 2026 (“First Quarter”).
Consolidated revenues for the three-month period ending June 30, 2026, were $32.4 million, a decrease of $7.9 million or approximately 19.5% as compared to the same period of the prior fiscal year in which Elite had the largest quarterly revenue in its history. Income from operations were $7.5 million, a decrease of $14.2 million or approximately 65%, as compared to the same period of the prior fiscal year, which can primarily be attributed to lower margins realized from sales of Elite’s generic Vyvanse® product line. The competitive market adjustment from last year had a greater effect on this year’s First Quarter, as compared to the same period of the prior year. While comparison of the prior year quarter shows decreases, the results from the First Quarter are in line with respect to the three prior quarters. Net income attributable to common shareholders was $5.9 million.
Conference Call Information
Elite’s management will host a conference call to discuss the First Quarter of Fiscal Year 2027 financial results and provide an update on recent business developments. Stockholder questions should be submitted to the company in advance of the call.
| Date: | August 14, 2026 |
| Time: | 11:30 AM EDT |
| Dial-in numbers: | 1-800-346-7359 (domestic) 1-973-528-0008 (international) |
| Conference number: | 98840 |
| Questions: | dianne@elitepharma.com Financial questions by 7:00 PM EDT on Thursday, August 13, 2026 |
| Audio Replay: | https://elite.irpass.com/events_presentations |
The financial statements can be viewed for Elite’s First Quarter of Fiscal Year 2027 on Form 10-Q here.
About Elite Pharmaceuticals, Inc.
Elite Pharmaceuticals, Inc. is a specialty pharmaceutical company that develops and distributes niche generic products. Elite specializes in developing, manufacturing, and distributing oral, controlled-release drug products. Elite owns multiple generic products, which it distributes nationwide under the Elite Laboratories, Inc. label. Elite operates a cGMP and DEA-registered research, development, and manufacturing facility in Northvale, NJ. For more information, visit www.elitepharma.com.
This press release contains “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995, including, without limitation, those related to the effects, if any, on future results, performance or other expectations that may have some correlation to the subject matter of this press release. Readers are cautioned that such forward-looking statements involve, without limitation, risks, uncertainties and other factors not under the control of Elite, which may cause actual results, performance or achievements of Elite to be materially different from the results, performance or other expectations that may be implied by these forward-looking statements. These forward-looking statements may include statements regarding the expected timing of approval, if at all, of products by the FDA, and the actions the FDA may require of Elite in order to obtain such approvals. These forward-looking statements are not guarantees of future action or performance. These risks and other factors are discussed, without limitation, in Elite’s filings with the Securities and Exchange Commission, including its reports on forms 10-K, 10-Q, and 8-K. Elite is under no obligation to update or alter its forward-looking statements, whether as a result of new information, future events or otherwise.
Contact:
For Elite Pharmaceuticals, Inc.
Dianne Will, Investor Relations, 518-398-6222
Dianne@elitepharma.com
www.elitepharma.com