Aurinia Pharmaceuticals (AUPH) Q2 2026 earnings summary

Executive summary

• Net product sales for the quarter rose 19% year-over-year to $79.4 million, with six-month sales up 21% to $153.0 million, driven by increased LUPKYNIS market penetration.

• Total revenue for the quarter was $83.2 million, up 19% year-over-year; six-month revenue reached $160.9 million, up 21%.

• Net income for the quarter was $37.4 million, up from $21.5 million a year ago; six-month net income reached $71.8 million, up from $44.9 million.

• Diluted EPS for Q2 2026 was $0.28, up 75% year-over-year; six-month diluted EPS was $0.53, up 66%.

• Completed the acquisition of Kezar Life Sciences in May 2026, expensing acquired IP as in-process R&D.

Financial highlights

• Gross margin for the quarter and six months was 92%, compared to 90% and 88% in the prior year periods.

• Operating income for the quarter was $46.3 million, more than double the prior year; six-month operating income was $87.8 million.

• Cash flows from operating activities for the six months were $85.1 million, up 87% year-over-year.

• As of June 30, 2026, cash, cash equivalents, restricted cash, and investments totaled $443.1 million, up from $398.0 million at year-end 2025.

• Operating expenses for Q2 2026 were $36.9 million, down from $49.9 million in Q2 2025.

Outlook and guidance

• 2026 total revenue guidance is $315–$325 million, representing 11–15% growth over 2025.

• 2026 net product sales guidance is $305–$315 million, up 12–16% compared to 2025.

• SG&A expenses expected to remain consistent with 2025 levels.

• R&D expenses projected to increase as development activities progress.

• Company expects to fund future operations with existing cash and operating cash flows.