10-Q · August 4, 2026
ACADIA delivered Q2 net product sales of $308.0 million, up 16.4% year over year, as NUPLAZID reached $183.2 million and DAYBUE reached $124.8 million. Diluted EPS improved to $0.18 from $0.02 in Q1 2026, while…
Earnings analysis · 10-Q
ACAD earnings analysis
Filed November 4, 2026 · Our reading of the company's report
The latest report
Acadia delivered a strong Q3, with revenue of $342.291 million and diluted EPS of $0.31, beating consensus by approximately 2.8% and 72.2%, respectively. Both commercial franchises grew, led by 39% DAYBUE growth and 14%…
Read full summary
Acadia delivered a strong Q3, with revenue of $342.291 million and diluted EPS of $0.31, beating consensus by approximately 2.8% and 72.2%, respectively. Both commercial franchises grew, led by 39% DAYBUE growth and 14% GAAP NUPLAZID growth, while the company raised DAYBUE guidance and lowered R&D expense guidance. The principal offsets are pipeline execution risk following the September 2026 RADIANT setback, exposure to tariffs and supply-chain concentration, and potential Medicare price negotiation for NUPLAZID beginning in 2029.
Gross and operating margin
How much of each revenue dollar the business keeps.
One point per quarterly or annual filing. Both margins are shares of that report's revenue.
How we read each report
Our analysis across the last few reports.
Our model's reading of each filing, not the share price or the market's reaction. Annual and quarterly reports each occupy one position.
Reported figures
- Earnings per share
- $0.31
- Segment
- DAYBUE: revenue grew 39% year over year.
- Segment
- NUPLAZID: GAAP revenue grew 14% year over year.
What stood out
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Revenue growth and consensus beat
Revenue was $342.291 million, up 11.1% from $308 million in Q2 2026 and up 22.7% from $279 million in Q3 2025. Revenue also exceeded the $333.015 million consensus estimate by approximately 2.8%.
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EPS beat estimates
Diluted EPS was $0.31 versus $0.18 in Q2 2026 and $0.42 in Q3 2025. EPS exceeded the $0.18 consensus estimate by $0.13, or approximately 72.2%.
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Both commercial franchises grew
DAYBUE revenue increased 39% year over year, while GAAP NUPLAZID revenue increased 14% year over year, indicating growth across both commercial franchises.
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DAYBUE outlook and R&D improved
DAYBUE guidance was raised to $505 million-$520 million from $480 million-$510 million, while R&D expense guidance was reduced to $325 million-$340 million from $355 million-$380 million.
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European DAYBU authorization
The company received European Commission marketing authorization for DAYBU in August 2026, expanding the trofinetide commercial opportunity beyond the U.S., Canada and Israel.
What to watch
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RADIANT setback raises pipeline risk
The Phase 2 portion of the RADIANT trial for remlifanserin narrowly missed its primary endpoint in September 2026. The company is continuing two Phase 3 studies but plans to remove the 30 mg dosage arm, increasing development and execution risk.
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Tariffs threaten supply and margins
The filing identifies significant exposure to international trade policy: DAYBUE API production takes approximately 12 months, and tariff-related cost increases may be difficult to pass through until the 2027 calendar year at the earliest.
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Medicare negotiation risk
NUPLAZID could become subject to Medicare price negotiation in 2029, the earliest year identified by the company, potentially reducing per-unit reimbursement despite the expected small-biotech protections.
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Limited NUPLAZID supply redundancy
The company has no alternate supplier agreements for 10 mg NUPLAZID drug product or NUPLAZID API. A disruption at the current supply chain could therefore delay manufacturing or increase costs.
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DAYBUE post-marketing obligations
The company has fulfilled three of five DAYBUE post-marketing requirements and was released from one of five, leaving one PMR outstanding. Further study results could lead to labeling changes, additional studies or risk-mitigation requirements.
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AI and data-privacy exposure
The filing adds expanding AI-related privacy, security and regulatory exposure, including potential GDPR fines of up to €20 million or 4% of annual global revenue, whichever is greater.
Management's outlook
The extracted 10-Q text does not provide quantitative revenue or EPS guidance. The previously announced outlook was disclosed in the November 4, 2026 earnings release rather than the extracted filing text.
Earlier filings 4
10-Q · May 6, 2026
Acadia Pharmaceuticals reported a disappointing Q1 2026 performance, with revenues of $268.1 million, falling short of the anticipated $280.6 million. EPS also missed expectations, coming in at $0.02 versus the expected…
10-K · February 26, 2026
Acadia reports product sales growth driven by its two commercial franchises: NUPLAZID and DAYBUE, with net product sales from those products of $1,071.5 million in 2025 versus $957.8 million in 2024. Management…
10-Q · November 6, 2025
Acadia reported Q3 product sales of $278,633,000, up 11.3% year-over-year, driven by NUPLAZID and DAYBUE. Diluted EPS was $0.42 (vs. $0.20 prior year) and operating margin improved to 12.8% as income from operations…
This is our reading of a public filing, not the filing itself. Analysis can contain errors; check the source document for full context.