Knight Therapeutics Inc. Q3 2026 Earnings Recap

Knight Therapeutics shares rose 1.1%, a broadly neutral reaction to quarterly revenue growth and higher full-year guidance. The quarter showed mixed trends: launch products grew quickly, while strategic products declined on a constant-currency basis and expenses increased.

Key Takeaways

• Q3 revenue was $138 million, up 13% year over year, or 4% on a constant-currency basis.
• Launch pipeline products generated $21 million, up $12 million, or 137% on a constant-currency basis. Promoted strategic products delivered $65 million, down $5 million, or 7%, mainly due to customer purchasing patterns and lower Lenvima revenue in Colombia.
• Adjusted gross margin rose to 51% of revenue from 49%, while sales, marketing, G&A and R&D expenses increased 21% to $48 million.
• Adjusted EBITDA was $24 million, up 13%; for the first nine months, revenue was $430 million and adjusted EBITDA exceeded $76 million, up 36% and 57%, respectively.
• Management raised full-year revenue and adjusted EBITDA guidance, but expects new generic competition to weigh on AmBisome sales and adjusted EBITDA in Brazil starting in 2027.