10-Q · July 29, 2026
Corcept delivered a strong Q2 recovery, with revenue rising 31.7% year over year to $256.147 million and diluted EPS increasing to $0.36 from $0.29. The April Lifyorli launch contributed $47.564 million, while the…
Earnings analysis · 10-Q
CORT earnings analysis
Filed November 3, 2026 · Our reading of the company's report
The latest report
Corcept delivered strong third-quarter execution, with revenue of $340.5 million and diluted EPS of $1.01, both materially above the prior quarter and prior-year quarter. Growth was led in part by Lifyorli revenue of…
Read full summary
Corcept delivered strong third-quarter execution, with revenue of $340.5 million and diluted EPS of $1.01, both materially above the prior quarter and prior-year quarter. Growth was led in part by Lifyorli revenue of $91.4 million, up 92% year over year, while cash and investments reached $662.3 million. The company maintained its 2026 revenue outlook of $1.1 billion to $1.2 billion, but pending relacorilant regulatory decisions, generic pricing pressure, and multiple legal proceedings limit the overall risk-adjusted outlook.
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
- $1.01
- Segment
- Lifyorli revenue was $91.4 million, up 92% year over year; revenue figures for other segments were not provided in the extracted filing text.
What stood out
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Revenue accelerated sharply
Third-quarter revenue was $340.5 million, up approximately 33% from $256 million in the prior quarter and approximately 64% from $208 million in the prior-year quarter.
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EPS materially exceeded prior periods
Diluted EPS was $1.01, compared with $0.36 in the prior quarter and $0.16 in the prior-year quarter, representing increases of approximately 181% and 531%, respectively.
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Lifyorli growth remained strong
Lifyorli revenue reached $91.4 million, increasing 92% year over year and providing a significant growth contribution.
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Liquidity strengthened
Cash and investments reached $662.3 million, providing substantial liquidity to fund commercial activities and development programs.
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Full-year outlook maintained
The company maintained 2026 revenue guidance of $1.1 billion to $1.2 billion, despite pending regulatory decisions and pricing pressure from generic competition.
What to watch
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Relacorilant approvals remain uncertain
The FDA assigned a December 17, 2026 PDUFA target date for the resubmitted relacorilant NDA, while the European Commission is expected to issue a final decision on the MAA in the fourth quarter of 2026; either decision could be delayed or unfavorable.
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Generic competition pressures pricing
Teva launched a generic version of Korlym in January 2024, and the company states that the generic has materially reduced the price received for its hypercortisolism products; Sun and Hikma may also launch products if FDA approval is obtained and Teva remains commercially available.
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Multiple material legal proceedings
The Teva antitrust litigation is scheduled for summary-judgment hearing on December 16, 2026 and trial in March 2027; the company also faces a securities class action covering October 31, 2024 through December 30, 2025 and a qui tam action filed in 2017.
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Potential Medicare reference pricing
The proposed GUARD pricing model could impose additional rebates on qualifying Medicare Part D drugs for 25% of beneficiaries from January 1, 2027 through December 31, 2031, potentially reducing Lifyorli revenue.
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Concentration in specialty pharmacy vendor
The company relies on Curant to collect payments from insurers representing more than 99% of hypercortisolism revenue; operational or compliance problems at Curant could disrupt dispensing and collections.
Management's outlook
2026 revenue guidance was reiterated at $1.1 billion to $1.2 billion; no quantitative EPS guidance was provided.
Earlier filings 4
10-Q · April 30, 2026
Corcept Therapeutics reported weaker-than-expected financials for Q1 2026, with revenues of $164.9 million falling short of the $183.8 million consensus estimate, leading to a diluted EPS of -$0.30 compared to an…
10-K · February 24, 2026
Corcept’s 2025 10-K shows a company at a clinical inflection point: strong oncology data (ROSELLA: 30% reduction in progression risk, HR 0.70, and 35% reduction in death, HR 0.65; median OS 16.0 vs 11.9 months) and an…
10-Q · November 4, 2025
Corcept reported Q3 product revenue of $207,638 (in thousands), up $25,092 vs. Q3 2024, but operating income compressed to $10,219 (in thousands) as SG&A and R&D rose. Diluted EPS was $0.16 for the quarter. Liquidity…
This is our reading of a public filing, not the filing itself. Analysis can contain errors; check the source document for full context.