Every 10-Q that Eton Pharmaceutcials, Inc. (ETON) has filed with the SEC in the last 24 months is listed below, newest first, and each one links through to the document itself with the summary and the scores our analysis gives it.
A 10-Q covers the quarterly report filed between annual reports, so if you follow ETON and want that one kind of document rather than the whole filing history, this is the page to keep. The company's other filings, of every form, are on the full ETON filings page.
Eton Pharmaceuticals, Inc. reported strong growth for the quarter and six months ended June 30, 2026. Quarterly net revenues were $37,589 (thousands), up from $18,928, driven mainly by higher sales of INCRELEX®, GALZIN®, Carglumic Acid and the addition of HEMANGEOL®.
Gross profit for the quarter rose to $25,413 from $11,924, and Eton moved from a net loss of $(2,585) to net income of $11,578. For the first half of 2026, revenues increased to $61,855 from $36,210, with net income of $13,132 versus a loss of $(4,157) a year earlier. Adjusted EBITDA for the six months improved to $21,944 from $6,726.
The company ended June 30, 2026 with $26,845 in cash and cash equivalents, total assets of $115,807, and working capital of $23,500 (thousands). It invested $14,000 to acquire U.S. commercial rights to HEMANGEOL® and $1,000 for an ultra-rare disease product candidate, and expanded its rare disease portfolio while carrying $27,903 of net debt under its SWK credit facility. Revenues and receivables remain highly concentrated with specialty pharmacy customer AnovoRx.
Eton Pharmaceuticals reported a profitable quarter for the three months ended March 31, 2026, with total revenues of $24,266 and net income of $1,554, compared with a net loss a year earlier. Revenue was driven by higher product sales and royalties, especially from INCRELEX®, GALZIN®, ALKINDI SPRINKLE®, Carglumic Acid and the addition of KHINDIVI™. Licensing revenue declined because the prior year included one-time INCRELEX® out-licensing and DS-200 milestone payments. Gross profit rose to $14,735 as product sales expanded, while operating expenses increased mainly from higher FDA fees and headcount.
Cash from operating activities strengthened to $7,405, but overall cash declined to $19,661 after $15,075 of investing outflows, largely a $14,000 upfront payment for U.S. rights to HEMANGEOL® and a $1,000 IPR&D license. The balance sheet shows $97,710 in total assets, including $43,738 of intangible assets related to acquired rare disease products, and $30,747 of SWK term debt. Management highlighted non-GAAP adjusted EBITDA of $5,709 and non-GAAP net income of $4,482, reflecting add-backs for amortization, stock-based compensation and inventory step-up.
Eton Pharmaceuticals reported third‑quarter results. Net revenues were $22.459 million, driven by product sales and royalties. Gross profit reached $7.855 million. The quarter recorded a net loss of $1.927 million, or $0.07 per share. For the nine months, net revenues were $58.669 million with a net loss of $6.084 million.
Cash and cash equivalents were $37.121 million as of September 30, 2025, up from $14.936 million at year‑end, supported by $22.075 million in operating cash flow year‑to‑date. Current liabilities rose to $44.183 million, including higher accounts payable and Medicaid rebate accruals, and long‑term debt stood at $27.591 million. Customer concentration remains significant: AnovoRx represented 85.8% of net product revenues for the nine months and 65.8% of net accounts receivable as of September 30, 2025. The company also recorded intangible amortization tied to recent product acquisitions and recognized partial licensing revenue with Esteve related to INCRELEX.