Pharming Group earnings date
Pharming Group (PHGN) Q3 2026 Earnings Report
DE:PHGN Q3 2026 EPS Results
- Actual EPS
- EUR 0.03
- Consensus EPS
- EUR 0.02
- Beat/Miss
- Beat by +EUR 0.01
- One Year Ago EPS
- EUR 0.01
DE:PHGN Q3 2026 Revenue Results
- Actual Revenue
- EUR 102.21M
- Expected Revenue
- EUR 105.00M
- Beat/Miss
- Missed by -EUR 2.78M
- YoY Revenue Growth
- +22.77%
Earnings Announcement Details
- Quarter
- Q3 2026
- Date
- 10/27/2026
- Time
- Before Open
- Conference Call
- Tuesday, October 27, 2026
Pharming Group's next earnings date is estimated for March 18, 2027, based on past reporting schedules.
Q3 2026 Earnings Call Audio
Q3 2026 Earnings Slide Deck
Q3 2026 Earnings Call Summary
The call was predominantly positive, supported by 21% third-quarter revenue growth, 89% operating profit growth, strong Joenja momentum, RUCONEST demand stabilization, positive genetic PID data, improving cash generation, and lower full-year operating expense guidance. The main challenges were the approximately 3% expected full-year decline in RUCONEST U.S. revenue, inventory-related timing effects, manufacturing inventory impairments, the ongoing CEO search, and the need to complete FALCON enrollment.
For full year 2026, revenue guidance is $380 million to $390 million, representing 14% growth, and operating expenses guidance is $310 million to $315 million, representing 0% to 1% growth, including approximately $35 million incremental R&D investment and about $9 million of structural G&A savings; RUCONEST revenue is expected to stabilize and return to growth in the second half of 26, with RUCONEST U. S. Revenue expected to decline approximately 3% for the full year at the midpoint, while Joenja is expected to deliver significant and accelerating growth for the year and annual revenue growth in the mid-30s%, compared to 29% growth in 2025; cost of goods sold is expected to be approximately 12% of revenue, corresponding to a gross margin of 88%, and Q4 revenue is implied to be roughly $100 million to $110 million, with an initial bolus of new Joenja patients on therapy throughout Q4 in the range of 15 to 20 patients; 145 of the planned 180 FALCON participants are expected to be enrolled by the end of this year, enrollment is expected to be complete during the first half of 27, and top line results are expected approximately 1 year after enrollment is complete.
- Strong Third-Quarter Revenue and Operating Profit GrowthThird-quarter revenue grew 21% year over year to $117.6 million, ahead of market expectations. Operating profit increased 89% to $29.9 million, while adjusted operating profit increased to $35 million from $16 million a year ago, excluding a $5.1 million one-time manufacturing-related inventory impairment.
- Joenja Delivered Robust Global GrowthJoenja global revenue increased 58% year over year to $23.8 million. U.S. revenue rose 19% to $15.9 million, supported by continued growth in patients on therapy, while international revenue increased to $7.9 million from $1.7 million a year ago.
- Joenja Patient Growth and Geographic ExpansionThe company ended the quarter with 136 U.S. patients on paid therapy, up 17% year over year, and 75 patients receiving paid therapy internationally. Joenja launched in Germany in July and Japan in August, and international revenue represented approximately one-third of global Joenja revenue.
- U.S. Pediatric Joenja Approval and LaunchThe FDA approved Joenja pediatric doses for children aged 4 to 11 weighing at least 27 kilograms on September 11, ahead of the anticipated October 24 PDUFA date. Shipments began in October, and the company expects an initial bolus of 15 to 20 new pediatric patients on therapy throughout Q4.
- Further Pediatric Expansion Under Priority ReviewThe company submitted a supplemental application for lower Joenja doses for children aged 4 to 11 weighing between 13 and less than 27 kilograms. The FDA accepted the application with priority review and assigned a PDUFA date of January 30, 2027.
- Growing Identified APDS Patient PopulationAs of September 30, the company had identified 304 APDS patients in the United States and 1.06 thousand globally. It has identified more than 60 U.S. children aged 4 to 11 with APDS, with the newly approved doses addressing 38 of those patients.
- RUCONEST Returned to Revenue GrowthRUCONEST revenue reached $93.8 million in the third quarter, up 14% year over year and 30% sequentially. U.S. demand stabilized, with volume returning to prior-year levels, and the company expects the positive demand trend to continue into Q4.
- Strong RUCONEST Patient RetentionThe company maintained more than 90% of its active RUCONEST patient base more than one year after the launch of the first oral on-demand competitor. Retention was particularly strong among patients with more frequent or severe hereditary angioedema attacks, and the company continued to attract new patients and prescribers.
- Positive Leniolisib Genetic PID Phase 2 DataIn a 13-participant genetic primary immunodeficiency Phase 2 study, 12 participants completed treatment and all 12 chose to enter the three-year long-term extension study. Treatment resulted in improvements in spleen volume, lymph node size, lung gas exchange, and liver stiffness, with no new safety signals.
- CVID Readout and Potential Registrational PathThe company expects to report top-line data from its 20-patient CVID and CVID-with-immune-dysregulation study in November. The data will assess lymphoproliferation, cytopenias, lung and liver disease, biomarkers, patient and clinician-reported outcomes, and safety, and will inform a potential registrational study.
- Progress in Nepasimone/FALCON DevelopmentThe primary endpoints of the pivotal FALCON study both cleared the interim futility analysis after 40 patients completed 24 weeks of treatment. More than 50 sites are recruiting, the company expects 145 of 180 planned participants to be enrolled by year-end, and enrollment is expected to be complete during the first half of 2027.
- Improved Profitability, Cash Flow, and LiquidityThird-quarter net profit increased to $22.4 million from $7.5 million a year ago. Operating cash flow was $32.4 million, and cash and marketable securities rose $31.4 million during the quarter to $190.9 million. Management stated that no additional financing is needed because cash and projected future cash flows cover current pipeline and prelaunch costs.
- Updated Full-Year GuidanceThe company tightened 2026 revenue guidance to $380 million to $390 million, representing 14% growth, and lowered operating expense guidance to $310 million to $315 million, representing 0% to 1% growth. The guidance includes approximately $35 million of incremental R&D investment and approximately $9 million of structural G&A savings.
- Operating Expense DisciplineThird-quarter operating expenses were $74.6 million, in line with the prior year. For the first nine months, total operating expenses were 2.8% below the prior-year period.
- Strategy and Leadership ContinuityFollowing the CEO transition, management stated that the company's strategy, pipeline, and commitment to patients remain unchanged. Interim co-CEOs and the leadership team said they remain focused on executing the stated priorities.
DE:PHGN Earnings History
| Report Date | Fiscal Quarter | Forecast / EPS | Last Year's EPS | EPS YoY Change | Press Release |
|---|---|---|---|---|---|
| Mar 18, 2027 | 2026 (Q4) | 0.01- | 0.01 | ― | ― |
| Oct 27, 2026 | 2026 (Q3) | 0.020.03 | 0.01 | 200.00% (+0.02) | |
| Jul 30, 2026 | 2026 (Q2) | 0.010.00 | 0.01 | -66.67% (-0.00) | |
| May 07, 2026 | 2026 (Q1) | 0.00-0.01 | -0.02 | 68.18% (+0.01) | |
| Mar 12, 2026 | 2025 (Q4) | 0.000.01 | 0 | 40.00% (+0.00) | |
| Nov 06, 2025 | 2025 (Q3) | 0.000.01 | 0 | 600.00% (+0.01) | |
| Jul 31, 2025 | 2025 (Q2) | -0.010.01 | 0 | 400.00% (+0.01) | |
| May 08, 2025 | 2025 (Q1) | -0.00-0.02 | -0.02 | -15.79% (-0.00) | |
| Mar 13, 2025 | 2024 (Q4) | 0.000.00 | 0 | 225.00% (+0.01) | |
| Oct 24, 2024 | 2024 (Q3) | 0.00-0.00 | 0 | ― |
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.
