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Reported May 14, 2026 · Before market open

Revenue$51.7MMiss by $7.4M
EPS$1.63Miss by $0.21
Revenue estimate$59.1M
EPS estimate$1.84

Next report

Nov 5, 2026 (in 2 months)
Revenue estimate$78.1M
EPS estimate$2.30

Financials

Q1 2026

Income statement

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Revenue$51.7M+14.1%
Operating income$17.4M+148%
Net income-$13.3M+68.6%
EPS (diluted)-$0.67+69.7%

Balance sheet

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Cash & equivalents$115.1M+140%
Total debt$5.1M+14.2%
Total equity$997.3M+25.4%
Total assets$1.5B+69.2%

Cash flow

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Operating cash flow$48.7M+291%
CapEx$228.0K+6.5%
Free cash flow$48.5M+289%

Valuation & ratios

Valuation

as of 03/31/26
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Market cap$3.98B+96.7%
Enterprise value$3.87B+95.4%
P/E25.9×
P/S14.5×+3.3×

Profitability

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Operating margin34.5%+23.0pp
Net margin55.9%+35.7pp
FCF margin44.8%+16.8pp

Returns & leverage

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Return on equity17.1%+11.5pp
Debt / equity0.0×
Current ratio21.3×+16.0×

Segments

By product

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Filspari$11.3M+114%
Captisol$8.7M
Kyprolis$6.7M
Qarziba$6.3M+15.7%
Ohtuvayre inventors$3.0M

By segment

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Development and Licensing of Biopharmaceutical Assets$51.7M+14.1%

FAQ

When did Ligand Pharmaceuticals report Q1 2026 earnings?
Ligand Pharmaceuticals (LGND) reported Q1 2026 earnings on May 14, 2026 before market open.
What were Ligand Pharmaceuticals's Q1 2026 revenue and EPS?
Ligand Pharmaceuticals reported revenue of $51.7M and eps of $1.63 for Q1 2026.
Did Ligand Pharmaceuticals beat estimates in Q1 2026?
Revenue missed the consensus estimate of $59.1M by $7.4M. EPS missed the consensus estimate of $1.84 by $0.21.
How did Ligand Pharmaceuticals's Q1 2026 results compare year-over-year?
Compared to the same quarter a year prior, revenue grew 14.1% from $45.3M a year earlier and eps grew 22.6% from $1.33.
Where can I find Ligand Pharmaceuticals's Q1 2026 SEC filings?
You can read the 10-Q periodic report (0000886163-26-000034) directly on SEC EDGAR. The filing index links above go to sec.gov.