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EarningsQ2 2026 Earnings Report
PHAR Q2 2026 EPS Results
Actual EPS$0.02
Consensus EPS$0.06
Beat/MissMissed by -$0.04
One Year Ago EPS$0.06
PHAR Q2 2026 Revenue Results
Actual Revenue$90.08M
Expected Revenue$99.52M
Beat/MissMissed by -$9.44M
YoY Revenue Growth-4.63%
Earnings Announcement Details
QuarterQ2 2026
Date07/30/2026
TimeBefore Open
Conference CallThursday, July 30, 2026
PHAR Upcoming Earnings
Pharming Group's next earnings date is estimated for November 5, 2026, based on past reporting schedules.
Q2 2026 Earnings Call Audio
PHAR Q2 2026 Earnings Call
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Q2 2026 Earnings Slide Deck
Q2 2026 Earnings Call Summary
Earnings Call Sentiment|Neutral
The call presented a mixed picture: strong commercial momentum for Joenja (robust percentage growth, geographic and pediatric expansion) and encouraging underlying RUCONEST demand indicators (active patient base ~93%, sequential revenue rebound) are offset by near-term headwinds — RUCONEST year-over-year revenue declines, a $30M revenue guidance reduction, operating cash outflows, and a manufacturing inventory impairment. Management emphasized cost discipline, positive operating profit in Q2, sufficient cash to fund the pipeline, and several upcoming clinical catalysts (leniolisib Phase II readouts in Q4, napazimone in 2027) that could materially change the trajectory. Given the balance of meaningful near-term challenges against several concrete growth drivers and pipeline milestones, the overall tone is cautious and balanced.Company Guidance
Strong Joenja Commercial Growth
Q2 Joenja revenue $17.9M, up 40% year-over-year; U.S. revenue $15.4M up 31% and international revenue $2.5M up 150%. Paid U.S. patients on therapy 132, up 16% year-over-year. Company expects Joenja annual growth in the high-30%s for 2026 (vs 29% in 2025) driven by geographic expansion (U.K., Germany launched July, Japan launch expected in August) and pediatric label expansion (PDUFA Oct 24 for higher doses; sNDA for lower doses filed).
RUCONEST underlying resilience
Q2 RUCONEST revenue $72.3M (down 10% year-over-year but up 24% sequentially). Active RUCONEST patient base ~93% of prior-year level one year after a new oral competitor launch. New patient enrollments improved to 84 in Q2 (vs ~50 in Q1 and close to Q2 2025 levels) and 17 new prescribers were added, supporting expectation that RUCONEST will stabilize and return to growth in H2 2026.
Pipeline and near-term clinical catalysts
Two leniolisib (Joenja) Phase II studies fully enrolled with topline readouts expected in Q4 2026 (CVID 20-patient trial and a 12-patient genetically defined PID basket study). Positive results could substantially expand addressable market (company cites CVID population up to ~40x APDS) and potentially drive Joenja to >$1B annual sales opportunity; napazimone FALCON pivotal readout expected in 2027.
Maintained profitability and disciplined cost management
Reported operating profit was positive in Q2 despite lower revenues and ~ $9M of incremental investments versus prior-year quarter. Adjusted operating profit remained positive (down $5M year-over-year). Full-year operating expense guidance reduced by $15M to $315M–$320M (1%–3% growth vs 2025), reflecting continued cost discipline.
Cash & funding outlook
Cash and marketable securities $159.5M at quarter end. Management states existing cash resources plus future operating cash flows are sufficient to fund current development pipeline and pre-launch activities.
Commercial progress on patient identification and international expansion
Company identified ~387 potentially eligible APDS patients across eight core ex-U.S. markets; identified 298 U.S. APDS patients (up 16 during the quarter), including 60 patients aged 4–11, supporting upcoming pediatric opportunity.
PHAR 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