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Other financials

Income statement

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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

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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

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

Valuation

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Market cap$10.95B+113%
Enterprise value$10.87B+114%
P/S15.5×+5.1×

Profitability

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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

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

Where this comes from

Reported directly by Axsome Therapeutics in its filing.

Tagged under the XBRL concept us-gaap:ResearchAndDevelopmentExpense.

The source filing: Axsome Therapeutics’s 10-Q, filed May 4, 2026.

Filed
May 4, 2026, 5:04 PM EDT
Fiscal quarter
Q1 FY2026
Calendar quarter
Q1 2026
Accession
0001193125-26-204274
Line itemThree months ended March 31, 2026Three months ended March 31, 2025
Total revenues191,203121,463
Operating expenses:
Cost of revenue (excluding amortization and depreciation)14,7259,789
Research and development52,67744,785
Selling, general and administrative184,996120,787
Loss in fair value of contingent consideration5901,512
Intangible asset amortization1,5721,572
Total operating expenses254,560178,445

ITEM 1. FINANCIAL STATEMENTS

FAQ

What is Axsome Therapeutics's R&D?
Axsome Therapeutics (AXSM) reported R&D of $52.68M in Q1 2026.
How has Axsome Therapeutics's R&D changed year-over-year?
Axsome Therapeutics's R&D increased by 17.6% year-over-year, from $44.79M to $52.68M.
What is the long-term trend for Axsome Therapeutics's R&D?
Over 4 years (2021 to 2025), Axsome Therapeutics's R&D has grown at a 33.3% compound annual growth rate (CAGR), from $58.06M to $183.28M.
What does R&D mean?
Costs of research activities to discover new knowledge and development activities to translate research into new or improved products, services, processes, or technologies.

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