Corcept Therapeutics (CORT) Q2 2026 earnings summary

Executive summary

• Q2 2026 revenue reached $256.1 million, a 32% year-over-year increase, driven by strong growth in endocrinology (Cushing's syndrome) and oncology, including the launch of Lifyorli.

• Lifyorli, approved for platinum-resistant ovarian cancer, generated $47.6 million in its first quarter, with over 1,300 patients initiated and broad payer coverage.

• Net income for Q2 2026 was $43.0 million, up from $35.1 million in Q2 2025, with diluted EPS of $0.36 versus $0.29 last year.

• Cash and investments totaled $544.6 million as of June 30, 2026.

• 2026 revenue guidance was raised to $1.1–$1.2 billion, reflecting confidence in continued business strength.

Financial highlights

• Q2 2026 product revenue: $256.1 million, up from $194.4 million in Q2 2025.

• Korlym and authorized generic revenue: $208.6 million; Lifyorli revenue: $47.6 million.

• Net income: $43.0 million in Q2 2026, up from $35.1 million in Q2 2025.

• Operating expenses rose to $214.8 million from $167.8 million year-over-year, mainly due to Lifyorli launch and Cushing's investments.

• Cash and investments totaled $544.6 million as of June 30, 2026.

Outlook and guidance

• 2026 revenue guidance raised to $1.1–$1.2 billion, reflecting strength in endocrinology and oncology.

• Management expects to fund operations and R&D activities for the next 12 months and beyond without raising additional funds.

• Cushing's syndrome business expected to reach at least $2 billion in annual revenue by decade's end, and $3–$5 billion by 2030 with relacorilant approval.

• Lifyorli annual U.S. revenue projected to exceed $1 billion as adoption broadens.

• Anticipates EMA approval for relacorilant in ovarian cancer and FDA decision on Cushing's syndrome NDA by year-end.