Lantheus (LNTH) Q1 2026 earnings summary

Executive summary

• Q1 2026 revenue reached $377.3 million, up 1.2% year-over-year, with strong performance from Neuraceq®, DEFINITY, and CDMO services, offset by lower PYLARIFY pricing and the SPECT business sale.

• Net income rose 62.3% to $118.4 million, reflecting a $59.3 million gain on the SPECT business sale and improved equity investment performance.

• FDA approved PYLARIFY TruVu and tentatively approved PNT2003, advancing the radiodiagnostics portfolio with launches planned for late 2026.

• Strategic focus shifted to PET radiodiagnostics, with divestiture of SPECT business and a program to streamline operations.

• Over 1 million patient lives impacted in Q1 2026.

Financial highlights

• Revenue was $377.3 million, up 1.2% year-over-year; adjusted for SPECT divestiture, revenue grew 8.6%.

• Oncology (PYLARIFY) revenue was $240.9 million, down 6.5%; Neurology (Neuraceq®) $35.4 million; Cardiology (DEFINITY) $84.6 million, up 6.8%.

• Gross margin was 61.2% (down from 63.8%); operating income fell 20.3% to $81.3 million; adjusted operating income was $129.1 million, down 10.5%.

• Adjusted net income was $95.8 million, down 12.5%; adjusted EPS was $1.46, down 4.6%.

• Free cash flow was $121.9 million, up $23.1 million year-over-year; cash and equivalents at quarter-end were $498.6 million.

Outlook and guidance

• Full-year 2026 revenue guidance reaffirmed at $1.4–$1.45 billion; adjusted EPS expected in the range of $5.00–$5.25.

• Growth acceleration anticipated in 2027, with focus on PSMA PET leadership, Alzheimer's imaging expansion, and pipeline advancement.

• PYLARIFY TruVu commercial launch expected in Q4 2026, with focus on smooth customer transition and reimbursement.