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Axsome Therapeutics AXSM Q1 2026 earnings

Reported May 4, 2026 · Before market open

Revenue$189.4MMiss by $1.5M
EPS-$1.26Miss by $0.41
Revenue estimate$190.9M
EPS estimate-$0.85

Next report

Aug 10, 2026 (In 1 week)
Revenue estimate$220.9M
EPS estimate-$0.89

Financials

Q1 2026

Income statement

See full
Revenue$191.2M+57.4%
Gross profit$176.5M+58.0%
Operating income-$63.4M-11.2%
Net income-$64.5M-8.6%
EPS (diluted)-$1.26-3.3%

Balance sheet

See full
Cash & equivalents$305.1M+1.4%
Total debt$219.9M+4.1%
Total equity$54.6M+2.6%
Total assets$713.6M+19.6%

Cash flow

See full
Operating cash flow-$20.7M+52.3%
CapEx$121.0K-64.2%
Free cash flow-$20.8M+52.4%

Valuation & ratios

Valuation

as of 07/28/26
See full
Market cap$12.27B+148%
Enterprise value$12.18B+151%
P/S17.3×+7.3×

Profitability

See full
Gross margin92.6%+1.1pp
Operating margin-24.4%-9.3pp
Net margin-26.6%-9.8pp
FCF margin-10.2%-3.9pp

Returns & leverage

See full
Return on equity-349.4%+109pp
Debt / equity4×+0.1×
Current ratio1.4×-0.6×

Segments

By product

See full
Royalty$4.1M+269%
Royalty And Milestone Revenue$1.8M+63.2%
Milestone Revenue$500.0K—

Versus estimates

Revenue

Q1 2026$189.4MMiss by $1.5M
Q4 2025$194.7MBeat by $1.3MQ3 2025$171.0MMiss by $20.3MQ2 2025$150.0MBeat by $10.0MQ1 2025$121.5MMiss by $19.0MQ4 2024$118.8MMiss by $740.4K

Diluted EPS

Q1 2026-$1.26Miss by $0.41
Q4 2025-$0.71Miss by $0.01Q3 2025-$0.94Miss by $0.12Q2 2025-$0.92Beat by $0.08Q1 2025-$0.80Beat by $0.46Q4 2024-$0.96Beat by $0.04

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Questions, answered.

When did Axsome Therapeutics report Q1 2026 earnings?
Axsome Therapeutics (AXSM) reported Q1 2026 earnings on May 4, 2026 before market open.
What were Axsome Therapeutics's Q1 2026 revenue and EPS?
Axsome Therapeutics reported revenue of $189.4M and eps of $-1.26 for Q1 2026.
Did Axsome Therapeutics beat estimates in Q1 2026?
Revenue missed the consensus estimate of $190.9M by $1.5M. EPS missed the consensus estimate of $-0.85 by $0.41.
How did Axsome Therapeutics's Q1 2026 results compare year-over-year?
Compared to the same quarter a year prior, revenue grew 55.9% from $121.5M a year earlier and eps declined 57.5% from $-0.80.
Where can I find Axsome Therapeutics's Q1 2026 SEC filings?
You can read the 8-K earnings release (0001193125-26-202506) and the 10-Q periodic report (0001193125-26-204274) directly on SEC EDGAR. The filing index links above go to sec.gov.