Aurinia Revenue Rises 14% to $83.7 Million, While Earnings per Share Miss Estimates
Key Facts
Aurinia Pharmaceuticals reported on October 30 results for the third quarter ended September 30, 2026, posting total revenue of $83.7 million, up 14% from $73.5 million a year earlier. But adjusted earnings per share of $0.23 came in below the analyst consensus of $0.24, according to an Investing.com report based on Reuters. Revenue also fell short of analysts' estimate of $84.0 million, the same report said. Shares fell 3.43% in premarket trading after the announcement, according to Investing.com. The company closed at $17.21 on the October 29 session, before the results were released.
Quarterly revenue growth was supported by sales of the company's leading product, LUPKYNIS, whose net sales reached $79.4 million, up 12% from $70.6 million in the third quarter of 2025. Licensing, collaboration and royalty revenue totaled $4.3 million, up 54% from $2.8 million a year earlier. For the nine months ended September 30, total revenue reached $244.6 million, up 19% from $205.9 million in the year-earlier period. LUPKYNIS net sales for the nine months rose to $232.4 million from $197.2 million, a gain of 18%. Licensing, collaboration and royalty revenue for the period also increased to $12.2 million from $8.8 million, up 39%.
The company reported net income of $31.7 million in the third quarter, compared with $31.6 million in the same period last year, while pretax income was $38.7 million. Diluted earnings per share were $0.23, the same level recorded in the third quarter of 2025. In the first nine months of 2026, net income reached $103.5 million, up 35% from $76.4 million in the year-earlier period. Diluted earnings per share for that period were $0.76, up 38% from $0.55. The comparison shows that net income and diluted earnings per share were broadly unchanged year over year in the quarter, while both increased over the nine-month period.
Cash flow from operating activities improved to $46.4 million in the quarter, up 4% from $44.5 million a year earlier. For the nine months, operating cash flow was $131.5 million, up 46% from $90.0 million in the same period of 2025. As of September 30, Aurinia had $486.9 million in cash, cash equivalents, restricted cash and investments, compared with $398.0 million on December 31, 2025. These figures place cash flow and the cash balance alongside sales growth and other revenue in the quarterly results. The available disclosures did not provide further detail on the components of the change in the cash balance during the period.
Aurinia raised its 2026 fiscal-year total revenue outlook to $325–330 million, from a previous range of $315 to $325 million. At the same time, the company narrowed its net product sales outlook to $310–315 million from $305–315 million. The outlook revision follows total revenue of $244.6 million in the first nine months of the year, while LUPKYNIS net sales for the period were $232.4 million. According to Investing.com, quarterly revenue missed the $84.0 million estimate, and adjusted earnings per share missed the $0.24 consensus. The annual outlook was therefore stronger for total revenue, with a narrower range for product sales, as both quarterly results fell short of the report's estimates.
In a clinical development, the company began the Phase 4 PRESERVE study to test LUPKYNIS in combination with one of three treatments — belimumab, obinutuzumab or anifrolumab — in patients with lupus nephritis. The study plans to enroll about 150 patients at about 50 sites in the United States. The primary endpoint measures the proportion of patients achieving a complete renal response after six months. The study provides a path to test the drug in combination regimens, while the available information did not provide clinical results. The earnings announcement did not specify a date for the PRESERVE results.