Ascendis Pharma (ASND) Q2 2026 earnings summary

Executive summary

• Achieved key milestones and strong demand for TransCon products, driving transformation into a leading global biopharma.

• Q2 2026 product revenue reached €315 million, up 105% year-over-year, driven by strong demand for YORVIPATH, SKYTROFA, and YUVIWEL.

• SKYTROFA, YORVIPATH, and YUVIWEL are positioned as long-term growth drivers, with global commercialization and label expansion opportunities.

• Significant pipeline progress included long-term data presentations, completion of pivotal trial enrollment, and regulatory milestones.

• Settled all convertible notes and was added to multiple Russell U.S. Indexes.

Financial highlights

• Q2 2026 total product revenue reached EUR 315 million, more than doubling year-over-year.

• Total Q2 2026 revenue was €339 million, including €24 million in non-product collaboration revenue and a €17 million milestone for TransCon CNP.

• YORVIPATH revenue was EUR 252 million, SKYTROFA EUR 55 million, and YUVIWEL EUR 8 million in its first quarter.

• Q2 net profit was EUR 207 million; non-IFRS net profit was EUR 61 million.

• Cash and cash equivalents as of June 30, 2026, were €812 million, up from €616 million at year-end 2025.

Outlook and guidance

• Expect YORVIPATH growth and performance to remain consistent with prior quarters.

• SKYTROFA revenue expected to remain stable in the U.S.; UBEGLA showing strong early demand.

• On track to achieve EUR 5 billion in revenues by 2030, with potential to exceed EUR 10 billion in the next decades.

• Projecting more than EUR 500 million in operating cash flow for 2026.

• Anticipates EMA decision on YUVIWEL in Q4 2026 and plans to initiate Phase 3 trials for TransCon CNP monotherapy and combination therapy in H2 and Q4 2026.