second quarter 2026
Filed Aug 6, 2026Lantheus Reports Second Quarter 2026 Financial Results
Worldwide revenue increased 2.7% to $388.2 million and GAAP operating income increased 13.9% to $100.2 million, but PYLARIFY sales declined 4.1% and both GAAP and adjusted fully diluted earnings per share declined. The Company also suspended full year 2026 financial guidance in connection with its pending merger with Curium.
Key metrics
as reported| Metric | Value | q/q | y/y |
|---|---|---|---|
| Worldwide revenueGAAP | $388.2 million | – | 2.7% |
| GAAP net incomeGAAP | $75.0 million | – | (4.7%) |
| GAAP fully diluted earnings per shareGAAP | $1.11 | – | (0.9%) |
| Adjusted net incomenon-GAAP | $104.9 million | – | (5.1%) |
| Adjusted fully diluted earnings per sharenon-GAAP | $1.55 | – | (1.3%) |
| Operating incomeGAAP | $100.2 million | – | 13.9% |
| Adjusted operating incomenon-GAAP | $142.0 million | – | (6.9%) |
| Net cash provided by operating activitiesGAAP | $92.2 million | – | – |
| Free cash flownon-GAAP | $89.9 million | – | – |
Segments
| Segment | Revenue | q/q | y/y |
|---|---|---|---|
| PYLARIFYSales of PYLARIFY decreased. | $240.4 million | – | (4.1%) |
| NeuraceqSales of Neuraceq were reported. | $39.6 million | – | – |
| DEFINITYSales of DEFINITY increased. | $88.3 million | – | 5.2% |
What drove it
- Worldwide revenue increased 2.7% to $388.2 million compared to the same period in 2025.
- DEFINITY sales increased 5.2% to $88.3 million.
- The Company reported sales of Neuraceq of $39.6 million.
- GAAP operating income increased 13.9% to $100.2 million.
Concerns
- Sales of PYLARIFY decreased 4.1% to $240.4 million.
- GAAP net income decreased 4.7% to $75.0 million.
- Adjusted operating income decreased 6.9% to $142.0 million.
- The Company suspended its previously issued full year 2026 financial guidance in connection with the pending transaction with Curium.
What to watch
- Completion of the proposed acquisition by Curium US Holdings LLC.
- Specified commercial milestones for Lantheus' products through 2030 that could result in potential additional cash payments under the CVRs.
- PYLARIFY TruVu technology transfer across the PET manufacturing facilities network, FDA approval for each PMF to manufacture PYLARIFY TruVu, coverage and payment, HCPCS coding, and customer adoption.
- Continued market expansion, penetration and reimbursement for PYLARIFY, DEFINITY and Neuraceq.
Balance sheet and cash flow
- At June 30, 2026, the Company's cash and cash equivalents were $593.3 million, compared to $359.1 million at December 31, 2025.
- The Company currently has access to up to $750.0 million from a revolving line of credit.
- Net cash provided by operating activities was $92.2 million.
- Free cash flow was $89.9 million.
Analysis
Lantheus reported second-quarter worldwide revenue of $388.2 million, up 2.7% from $378.0 million in the same period in 2025. Product performance was uneven. DEFINITY sales increased 5.2% to $88.3 million and Neuraceq sales were $39.6 million, while PYLARIFY sales, the largest disclosed product line, declined 4.1% to $240.4 million.
Profitability results were mixed. GAAP operating income increased 13.9% to $100.2 million, but GAAP net income declined 4.7% to $75.0 million. GAAP fully diluted earnings per share declined 0.9% to $1.11. On a non-GAAP basis, adjusted operating income decreased 6.9% to $142.0 million, adjusted net income decreased 5.1% to $104.9 million, and adjusted fully diluted earnings per share decreased 1.3% to $1.55.
The Company generated $92.2 million of net cash provided by operating activities and $89.9 million of free cash flow. Cash and cash equivalents were $593.3 million at June 30, 2026, compared to $359.1 million at December 31, 2025. Lantheus also stated that it currently has access to up to $750.0 million from a revolving line of credit.
The central development is the definitive merger agreement announced on August 3, 2026. Curium US Holdings LLC will acquire outstanding Lantheus shares for $102.50 per share in cash at closing, plus non-transferable CVRs providing for up to $12.00 per share in potential additional cash payments, subject to specified commercial milestones through 2030. The Company suspended its previously issued full year 2026 financial guidance and will not host a conference call for the second-quarter results, leaving merger progression and the underlying commercial trajectory of PYLARIFY, DEFINITY and Neuraceq as the primary disclosed items to monitor.
Not in the filing
stated, not guessed- Gross margin
- Operating expenses
- Tax rate
- Debt balance
- Capital returns, including share repurchases and dividends
- Prior-year operating income
- Prior-year adjusted operating income
- Prior-year and percentage comparisons for net cash provided by operating activities
- Prior-year and percentage comparisons for free cash flow
- Prior-year comparison for Neuraceq sales
- Prior-quarter comparisons for all reported metrics
- Full year 2026 financial guidance figures
AlphaAI analysis generated from the company’s SEC earnings filing (Form 8-K Item 2.02, or Form 6-K for a foreign private issuer). Every figure was cross-checked against the filing text; consensus estimates, price targets and share-price reactions are not shown because they are not in the filing. AI-generated research, not investment advice.