Supernus Pharmaceuticals, Inc. (SUPN) Earnings
Supernus Pharmaceuticals, Inc. is expected to report next earnings on August 4, 2026 (in NaN days), with a consensus EPS estimate of $0.47. SUPN has beaten EPS estimates in 4 of its last 12 reported quarters (average surprise -6406.9% over the last four).
| Report date | EPS est | EPS actual | Surprise | Revenue | Rev. surprise |
|---|---|---|---|---|---|
| May 5, 2026 | $0.28 | $0.59 | +110.7% | $208M | +7.7% |
| Feb 24, 2026 | $0.28 | $-71.59 | -25666.3% | $212M | +8.4% |
| Nov 4, 2025 | $0.82 | $1.01 | +23.2% | $192M | -1.3% |
| Feb 27, 2024 | $0.41 | $0.02 | -95.1% | $164M | +6.0% |
| Nov 8, 2023 | $0.13 | $-0.29 | -323.1% | $154M | -0.9% |
| Feb 28, 2023 | $0.68 | $0.43 | -36.8% | $167M | -7.2% |
| Aug 4, 2022 | $0.29 | $0.14 | -51.7% | $170M | +3.6% |
| Apr 13, 2022 | $0.24 | $0.04 | -83.3% | $153M | -0.9% |
| Feb 28, 2022 | $0.24 | $0.04 | -81.3% | $159M | +7.2% |
| Nov 3, 2021 | $0.23 | $0.40 | +73.9% | $148M | +25.7% |
| Aug 4, 2021 | $0.20 | $0.43 | +115.0% | $141M | +4.8% |
| May 5, 2021 | $0.24 | $0.11 | -54.2% | $131M | +1.2% |
Source: company filings + earnings calendar. For informational purposes only — not investment advice.
Earnings call summary
Q1 FY2026 · May 5, 2026
AI summary of management’s prepared remarks and analyst Q&A. For informational purposes only — not investment advice.
Management highlights
• Sopernos first quarter results showed a strong start to the year with 56% year-over-year increase in combined revenues of growth products and 11% year-over-year increase in adjusted operating earnings. • For Onetco, there was partial benefit from resumption of new patient initiations, progress with the second supplier, and expectations for regulatory submission to FDA in third quarter 2026 and potential approval before mid-year 2027. • Zerzude had significant collaboration revenues, strong sales growth in prescriptions and number of prescribers, and a large number of patients treated since launch. • Kelby had positive prescription and sales growth, with adult prescribers surpassing pediatric prescribers for the first time. • Recovery had increased net sales and prescriptions. • R&D had ongoing trials for SPN820, SPN817, and plan to initiate phase one study for SBN443 in second half of 2026. • Corporate development will be a top priority for strategic opportunities
Guidance
• Expect total revenues for full year 2026 to range from $840 million to $870 million. • Combined R&D and SG&A expenses are expected to range from $620 million to $650 million. • Full year operating earnings are expected in the range of $0 to $30 million. • Non-GAAP operating earnings are expected to range from $140 million to $170 million
Segment performance
Onetco generated net sales of $8.4 million in the first quarter, with partial benefit from resumption of new patient initiations in February 2026. Prescriptions in March reached 463 exceeding pre-supply constraint level in October 2025, number of prescribers in March was highest since launch with over 645 prescribers and ~2,200 enrollment forms since launch through end of April 26. Progress with second supplier on Onetco, expect regulatory submission to FDA in third quarter 2026 with potential approval before mid-year 2027. Zerzude had $27.6 million in collaboration revenues in the first quarter. Full first quarter 2026 U.S. sales of Zerzuve increased ~100% compared to same period in 2025. Strong growth of 82% in rhythm prescriptions and 73% in number of prescribers in first quarter 2026 compared to same period last year. Since launch, 85% of prescriptions from repeat prescribers and over 29,000 patients treated. Kelby had prescriptions grow by 19% compared to same period last year, outpacing 10% growth in total ADHD market. Net sales of $78 million, 20% increase over first quarter last year. Adult prescription growth 27% and pediatric prescription growth 15%. Total quarterly number of prescribers reached ~43,000 with adult prescribers surpassing pediatric prescribers for first time. Recovery had net sales of $35.2 million in first quarter 2026, increasing by 15% compared to same quarter in 2025. Total number of prescriptions grew by 7% in first quarter 2026 compared to same period last year. Total revenue for first quarter 2026 was $207.7 million, an increase of 39% compared to same quarter last year. Revenues from commercial products increased to $178 million, a 26% increase due to increase in net sales of growth products and addition of collaboration revenues from Zerzude. Revenues from royalty and licensing and other revenues were $29.3 million including $20 million of licensing revenues related to commercial milestone under collaboration agreement with Shinogi
Risks & headwinds
• When converting start forms to paying patients, there is a loss of 40 to 45% of patients due to various reasons such as change in medical condition, insurance issues, lack of response, or incomplete information; the process from start form to paying patient can take several weeks with bottlenecks. • Supply constraints could impact patient conversion and sales projections. • Uncertainty exists in regulatory review timeline and potential issues with suppliers that could derail timelines for product approval and supply
Analyst Q&A
Q: Specifically on Onetco, what percentage of start forms will ultimately be converted to paying patients and how long does it take from start form to paying patient?
A: On average, 40 to 45% of patients are lost due to various reasons; the period from start form to paying patient can take several weeks with bottlenecks.
Q: Following up on Onetco guidance, how many patients are still on Onetco today and when could most hypothetical patients get on drug?
A: There are somewhere around 570 patients in the queue versus around 700 last time; going through the backlog and improving the process, Q1 was a partial quarter, need to see how many are generated this year; still feel good about the guidance.
Q: On Zerzuve, how are you seeing adoption in line with prescribing, like percent of patients completing 14-day treatment course?
A: Typically, people stick with the 14-course therapy, start seeing benefit early by day three, and are unlikely to quit early.
Q: On Calgary, what are adoption trends and what drives growth in adoption through the rest of the year?
A: Excited about Calgary, adult growth is outpacing pediatric, with emphasis on adult as it's the biggest and fastest growing segment, and the patient profile is broadening.
Q: On Onetco, what dynamics are between patients opting for Onetco versus Vilev?
A: The first cutoff is physician assessment of patient benefit, with Onetco's patient profile being younger, active, and earlier in the disease versus Vilev patient being a bit older with different needs like night time issues.
Q: On Zerzuve, any additional insights on feedback from DTC campaign compared to physician recommendation?
A: The DTC campaign is early, with no meaningful read yet, but positive feedback on messages; there is an effort to educate the market.
Q: On second supplier for Onetco, did meet with FDA and any feedback on timeline?
A: Been in touch with FDA, guidance is based on conversations, expect regulatory submission to FDA in third quarter 2026 with approval timeline of 6 to 9 months.
Q: On second supplier for Onetco, confidence level of timely clearance?
A: No indication of anything derailing the timeline, confident to meet the timeline and secure the second supply