EarningsQ2 2026 Earnings Report
DE:7CA Q2 2026 EPS Results
Actual EPS€0.36
Consensus EPS€0.29
Beat/MissBeat by +€0.07
One Year Ago EPS€0.36
DE:7CA Q2 2026 Revenue Results
Actual Revenue€62.11M
Expected Revenue€55.54M
Beat/MissBeat by +€6.57M
YoY Revenue Growth+3.93%
Earnings Announcement Details
QuarterQ2 2026
Date07/15/2026
TimeBefore Open
Conference CallWednesday, July 15, 2026
DE:7CA Upcoming Earnings
Camurus AB's next earnings date is estimated for November 5, 2026, based on past reporting schedules.
Q2 2026 Earnings Call Audio
DE:7CA Q2 2026 Earnings Call
0:00 / 0:00
Q2 2026 Earnings Slide Deck
Q2 2026 Earnings Call Summary
Earnings Call Sentiment|Positive
The call presents a predominantly positive commercial and financial picture: record product sales, broad‑based Buvidal growth, accelerating U.S. Brixadi royalties, improving underlying revenue CAGR (~21%), strong profitability (42% margin) and a robust cash position (SEK 4.1 billion). Pipeline momentum is substantial with SORENTO nearing primary analysis, CAM2056 advancing, positive POSITANO data and an expanded Lilly collaboration. Key negatives center on a manufacturing‑related FDA Complete Response Letter for the U.S. CAM2029 filing, short‑term working capital and investment outflows, increased SG&A as commercial scale‑up continues, and market/capacity constraints in Australia. Overall, the positives (record sales, revenue growth, strong cash and multiple near‑term pipeline catalysts) outweigh the material but addressable regulatory and operational risks.Company Guidance
Record Quarterly Revenue and Strong Profitability
Total revenues SEK 702 million, up 4% year‑on‑year and 32% sequentially; operating result SEK 293 million with a 42% operating margin; earnings per share SEK 4.05; cash position SEK 4.1 billion (≈SEK 190 million increase during the quarter).
Record Product Sales and Buvidal Momentum
Product sales reached a record SEK 528 million (first quarter ~SEK 0.5 billion). Buvidal net sales SEK 524 million, up 12% year‑on‑year and 24% quarter‑on‑quarter; in‑market sales +19% year‑on‑year and +6% quarter‑on‑quarter. Estimated 77,000 patients in treatment (net +4,000) and on track toward the 100,000 patient ambition by end‑2027.
Brixadi U.S. Royalty Acceleration and Market Opportunity
Brixadi royalties in the U.S. SEK 127 million, up 42% year‑on‑year and 20% sequentially — a record royalty quarter. U.S. long‑acting injectable (LAI) buprenorphine segment ~US$1.2 billion annualized and growing >30% year‑on‑year; company-adjusted estimates show Brixadi holding ~30% of equivalent units in the LAI segment.
Oczyesa European Launch Progress
Oczyesa launch progressing: Germany sales >SEK 4 million for the quarter with positive physician/patient feedback; first patient treated in Sweden and formulary processes advancing in the U.K.; commercial efforts focused on achieving double‑digit share among somatostatin receptor agonist acromegaly patients.
Pipeline Progress and Multiple Near‑Term Catalysts
SORENTO (GEP‑NET) progressing toward primary analysis with target of 194 PFS events expected in Q4; CAM2056 (once‑monthly semaglutide depot) phase II‑B preparations complete and study on track to start H2 2026; POSITANO positive phase II results in polycystic liver disease; Lilly expanded collaboration by exercising option to include amylin receptor agonists, validating the FluidCrystal technology.
Improving Underlying Revenue Growth and Cost Structure
Underlying product and royalty revenue grew from ~SEK 445 million in Q2 2024 to SEK 655 million in Q2 2026 (≈CAGR ~21% over two years). R&D costs declined from SEK 172 million to SEK 125 million as multiple trials completed, indicating favorable shift toward commercial execution and improving core margins.
Financial Flexibility and Capital Allocation
Net cash SEK 4.1 billion and debt‑free balance sheet provide flexibility. Management plans to fund additional SEK 200 million for commercial expansion (notably U.S.) and SEK 150 million for R&D from existing cash flow while maintaining strategic optionality.
DE:7CA Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed