Amarin Corporation plc reported first‑quarter 2026 results that showed total revenue of $45.1 million, a 7 % increase from the $42.0 million earned in the same period a year earlier. The company posted a net loss of $10.5 million, or $(0.03) per share, largely due to a $3.3 million restructuring charge that was not present in the prior year’s quarter. The loss per share figure corrects the earlier misstatement of $0.60 per share and aligns with the GAAP EPS reported by the company.
Revenue growth was driven by a $35.6 million U.S. product revenue that remained flat year‑over‑year, a $4.9 million increase in European product sales, and a $2.8 million rise in rest‑of‑world sales. Licensing and royalty revenue also grew 84 % to $1.8 million, reflecting the success of the fully‑partnered international commercial strategy with Recordati. The combination of higher partner‑generated revenue and stable U.S. product sales lifted total revenue above the consensus estimate of $43.8 million by $1.3 million (3.1 %).
Operating expenses fell 31 % to $25.8 million excluding the restructuring charge, with selling, general and administrative costs reduced 42 % as a result of the June 2025 global restructuring. When the $3.3 million restructuring charge is included, total operating expenses were $29.1 million. The operating loss narrowed to $11.3 million, a 32 % improvement over the $16.6 million loss reported in Q1 2025. Gross margin compression was driven by a 62 % increase in cost of goods sold, largely due to higher product volumes and shipments to partners, which offset the benefits of cost discipline.
Cash and investments rose to $307.8 million as of March 31 2026, and the company generated positive operating cash flow for the second consecutive quarter. The cash position supports the company’s ongoing restructuring plan, which is on track to deliver an estimated $70 million in total operating‑expense savings by June 30 2026. The strong liquidity profile also provides a buffer against the generic competition that continues to pressure U.S. pricing and revenue.
Management highlighted the progress of the new business model and the partnership strategy. “Our results for Q1 2026 reflected the early yet measurable progress generated by our refined global business model which we adopted in mid‑2025,” said President and CEO Aaron Berg. “The promise of our fully‑partnered international commercial strategy – anchored by our European‑focused exclusive licensing and supply agreement with Recordati – was reflected in higher European product revenue in Q1 2026 compared to Q4 2025.” Berg added, “Our U.S. franchise continues to demonstrate remarkable resilience, where we have maintained our leading market share for VASCEPA® more than five years since the introduction of generics.” Chief Financial Officer Peter Fishman noted, “We are encouraged by our Q1 2026 performance under our new business model. We achieved higher total revenue, led by growth from our partners, and a continued decline in our operating expenses, both of which led to significantly narrowed losses compared to the same period last year.”
Investor reaction to the earnings was muted, with market sentiment reflecting a cautious optimism about the company’s cost discipline and strategic shift, while noting the continued pressure from generic competition and the need for margin improvement.
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