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Segments

By product

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Royalty And Milestone Revenue$2.02M+86.5%
Royalty$1.47M+36.1%
Milestone Revenue$546K—

Other financials

Income statement

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Gross profit$204.8M+49.9%
Operating income-$49.6M-35.2%
Net income-$51.3M-7.0%
EPS (diluted)-$0.99-2.1%

Balance sheet

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Cash & equivalents$319.9M+5.6%
Total debt$224.7M+3.4%
Total equity$83.3M+14.0%
Total assets$761.4M+19.0%

Cash flow

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Operating cash flow-$33.0M-1.6%
CapEx$450.0K+3,362%
Free cash flow-$33.4M-3.0%

Valuation

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Market cap$9.54B+59.3%
Enterprise value$9.44B+60.6%
P/S12.3×+1.6×

Profitability

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Gross margin93.2%+1.8pp
Operating margin-24%-7.8pp
Net margin-24.7%-8.3pp
FCF margin-9.4%-3.6pp

Returns & leverage

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Return on equity-245.1%-27.6pp
Debt / equity2.7×-0.3×
Current ratio1.4×-0.1×

Where this comes from

Reported directly by Axsome Therapeutics in its filing.

Tagged under the XBRL concept us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax.

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

Filed
Aug 10, 2026, 4:07 PM EDT
Fiscal quarter
Q2 FY2026
Calendar quarter
Q2 2026
Accession
0001193125-26-342360
Line itemThree months ended June 30, 2026Three months ended June 30, 2025Six months ended June 30, 2026Six months ended June 30, 2025
Revenues:
Product sales, net$216,355$148,959$405,755$269,317
Royalty revenue and milestone revenue2,0201,0833,8232,188
Total revenues218,375150,042409,578271,505
Operating expenses:
Cost of revenue (excluding amortization and depreciation)13,56413,44828,28923,237
Research and development46,22749,54198,90494,326
Selling, general and administrative208,137130,280393,133251,067

ITEM 1. FINANCIAL STATEMENTS

FAQ

What is Axsome Therapeutics's total revenue?
Axsome Therapeutics (AXSM) reported total revenue of $218.38M in Q2 2026.
How has Axsome Therapeutics's total revenue changed year-over-year?
Axsome Therapeutics's total revenue increased by 45.5% year-over-year, from $150.04M to $218.38M.
What is the long-term trend for Axsome Therapeutics's total revenue?
Over 3 years (2022 to 2025), Axsome Therapeutics's total revenue has grown at a 133.7% compound annual growth rate (CAGR), from $50.04M to $638.5M.
What does total revenue mean?
The aggregate of all revenue from the company's operations — the top line from which all profitability metrics are derived.

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