Earnings release
Page 1
Exhibit 99.1 1 Alkermes Contacts: For Investors: Sandy Coombs +1 781 609 6377 For Media: Katie Joyce +1 781 249 8927 Alkermes plc Reports Third Quarter 2026 Financial Results — Third Quarter Revenues of $480.1 Million — — GAAP Net Income of $16.3 Million and Adjusted EBITDA of $120.1 Million — — Company Reiterates 2026 Financial Expectations — DUBLIN, Nov. 3, 2026 — Alkermes plc (Nasdaq: ALKS) today reported financial results for the third quarter of 2026. “We delivered solid commercial and financial performance in the third quarter while continuing to advance our portfolio of orexin 2 receptor agonists in central disorders of hypersomnolence and other neuropsychiatric conditions,” said Blair Jackson, President and Chief Executive Officer of Alkermes. “The rapid expansion of our orexin development programs, highlighted by our recent clinical proof-of-concept data in ADHD and initiation of a phase 2 study in major depressive disorder, further strengthens our leadership position in orexin-based research. As we continue to advance our orexin development portfolio, we are growing the body of evidence supporting the potential of orexin biology across multiple neuropsychiatric disorders and expect several important clinical data readouts over the year ahead. With a portfolio of development candidates in one of the most exciting new therapeutic categories in neuroscience and a steady cadence of clinical data readouts ahead, we believe we are well positioned to drive long-term value for shareholders.” Key Financial Highlights Revenues Three Months Ended September 30, Nine Months Ended September 30, (In millions) 2026 2025 2026 2025 Total Revenues $ 480.1 $ 394.2 $ 1,369.1 $ 1,091.4 Total Proprietary Net Sales $ 417.3 $ 317.4 $ 1,167.1 $ 869.2 VIVITROL® $ 127.6 $ 121.1 $ 364.4 $ 343.8 ARISTADA®i $ 103.9 $ 98.1 $ 294.4 $ 272.8 LYBALVI® $ 95.9 $ 98.2 $ 282.2 $ 252.6 LUMRYZ® $ 89.9 $ — $ 226.0 $ — Profitability Three Months Ended September 30, Nine Months Ended September 30, (In millions) 2026 2025 2026 2025 GAAP Net Income (Loss) $ 16.3 $ 82.8 $ (49.7) $ 192.3 EBITDA $ 63.0 $ 96.9 $ 81.8 $ 221.2 Adjusted EBITDA $ 120.1 $ 121.5 $ 339.5 $ 293.7 Revenue Highlights Proprietary Product Revenues • VIVITROL revenues for the quarter were $127.6 million. During the quarter, the company recorded VIVITROL revenue of approximately $8 million related to gross-to-net favorability, primarily driven by favorable patient mix.
Page 2
2 • ARISTADAi revenues for the quarter were $103.9 million, which included approximately $4 million of inventory benefit related to timing of shipments. During the quarter, the company recorded ARISTADA revenue of approximately $3 million related to gross-to-net favorability, primarily driven by favorable patient mix. • LYBALVI revenues for the quarter were $95.9 million, which included approximately $2 million of inventory benefit related to timing of shipments. Total prescriptions grew 18% compared to the third quarter of 2025. • LUMRYZ revenues for the quarter were $89.9 million. At the end of the third quarter, approximately 4,100 patients were on LUMRYZ therapy. Manufacturing & Royalty Revenues • VUMERITY® manufacturing and royalty revenues for the quarter were $29.5 million. • Royalty revenue from XEPLION®, INVEGA TRINZA®/TREVICTA® and INVEGA HAFYERA®/BYANNLI® for the quarter were $26.4 million. Key Operating Expenses Three Months Ended September 30, (In millions) 2026 GAAP 2026 Transaction Adjustments 2026 Non-GAAP Adjusted 2025 GAAP Cost of Goods Sold $ 94.2 $ 28.7 $ 65.6 $ 51.6 R&D Expense $ 121.1 $ 0.1 $ 121.0 $ 81.7 SG&A Expense $ 208.5 $ 1.0 $ 207.5 $ 171.8 Nine Months Ended September 30, (In millions) 2026 GAAP 2026 Transaction Adjustments(1) 2026 Non-GAAP Adjusted 2025 GAAP Cost of Goods Sold $ 253.9 $ 72.4 $ 181.5 $ 150.2 R&D Expense $ 337.4 $ 8.3 $ 329.1 $ 230.9 SG&A Expense $ 690.7 $ 57.6 $ 633.1 $ 514.3 (1) Includes $20.2 million of share-based compensation expense related to the acceleration of vesting of equity awards for former Avadel Pharmaceuticals plc (Avadel) employees which vested in full upon the closing of the transaction. Balance Sheet • At Sept. 30, 2026, the company recorded cash, cash equivalents and total investments of $787.6 million, compared to $691.6 million at June 30, 2026. Financial Expectations for 2026 Alkermes reiterates its financial expectations for 2026, as set forth in its press release dated July 28, 2026. Conference Call Alkermes will host a conference call and webcast presentation with accompanying slides at 8:00 a.m. ET (1:00 p.m. GMT) on Tuesday, November 3, 2026, to discuss these financial results and provide an update on the company. The webcast may be accessed on the Investors section of Alkermes’website at www.alkermes.com. The conference call may be accessed by dialing +1 877 407 2988 for U.S. callers and +1 201 389 0923 for international callers. In addition, a replay of the conference call may be accessed by visiting Alkermes’website.
Page 3
3 About Alkermes plc Alkermes plc (Nasdaq: ALKS), a mid-cap growth and value equity, is a global biopharmaceutical company that seeks to develop innovative medicines in the field of neuroscience. The company has a portfolio of proprietary commercial products for the treatment of alcohol dependence, opioid dependence, schizophrenia, bipolar I disorder and narcolepsy. Alkermes has established a leadership position in orexin biology and is advancing a portfolio of investigational orexin 2 receptor agonists for narcolepsy, idiopathic hypersomnia and other psychiatric and neurological disorders, including attention-deficit hyperactivity disorder (ADHD), major depressive disorder (MDD) and fatigue associated with multiple sclerosis and Parkinson’sdisease. Headquartered in Ireland, Alkermes also has a corporate office and research and development center in Massachusetts and a manufacturing facility in Ohio. For more information, please visit Alkermes’website at www.alkermes.com. Non-GAAP Financial Measures This press release includes information about certain financial measures that are not prepared in accordance with generally accepted accounting principles in the U.S. (GAAP), including EBITDA and Adjusted EBITDA. These non-GAAP measures are not based on any standardized methodology prescribed by GAAP and are not necessarily comparable to similar measures presented by other companies. EBITDA represents earnings before interest, tax, depreciation and amortization. Adjusted EBITDA excludes share-based compensation expense and non-recurring gains or losses in addition to the components of EBITDA from earnings. The company’smanagement and board of directors utilize these non-GAAP financial measures to evaluate the company’sperformance. The company provides these non-GAAP financial measures of the company’s performance to investors because management believes that these non-GAAP financial measures, when viewed with the company’sresults under GAAP and the accompanying reconciliations, are useful in identifying underlying trends in ongoing operations. However, EBITDA and Adjusted EBITDA are not measures of financial performance under GAAP and, accordingly, should not be considered as alternatives to GAAP measures as indicators of operating performance. Further, EBITDA and Adjusted EBITDA should not be considered measures of the company’sliquidity. A reconciliation of GAAP to non-GAAP financial measures has been provided in the tables included in this press release. Note Regarding Forward-Looking Statements Certain statements set forth in this press release constitute “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995, as amended, including, but not limited to, statements concerning: the company’sexpectations concerning its future financial and operating performance, business plans or prospects, including expectations related to value creation; and expectations regarding development timelines for, and the potential therapeutic and commercial value of, the company’sorexin development candidates. The company cautions that forward-looking statements are inherently uncertain. The forward- looking statements are neither promises nor guarantees and they are necessarily subject to a high degree of uncertainty and risk. Actual performance and results may differ materially from those expressed or implied in the forward-looking statements due to various risks and uncertainties. These risks and uncertainties include, among others: the company may not be able to achieve its financial expectations, including those related to value creation; clinical development activities may not be completed on time or at all; clinical study results may not be predictive of results from future stages of ongoing clinical studies, future clinical studies or real-world results; the unfavorable outcome of arbitration, litigation, or other proceedings or disputes related to the company’sproducts or products using the company’sproprietary technologies; the company’sproducts or product candidates may be shown to be ineffective or unsafe; the U.S. Food and Drug Administration or regulatory authorities outside the U.S. may not agree with the company’sregulatory approval strategies or components of its development programs, including clinical trial designs, conduct and methodologies, and may make adverse decisions regarding the company’sproducts; the company and its licensees may not be able to
Page 4
4 continue to successfully commercialize their products or support revenue growth from such products; potential changes in the competitive landscape impacting our products, including earlier than anticipated entry of competition from generic forms of our products or competitive products and negotiated maximum fair pricing of competitive products; potential changes in the cost, scope and duration of the company’sdevelopment programs; there may be a reduction in payment rate or reimbursement for the company’sproducts or an increase in the company’sfinancial obligations to government payers; the company’sproducts may prove difficult to manufacture, be precluded from commercialization by the proprietary rights of third parties, or have unintended side effects, adverse reactions or incidents of misuse; and those risks and uncertainties described under the heading “Risk Factors” in the company’sAnnual Report on Form 10-K for the year ended Dec. 31, 2025 and in subsequent filings made by the company with the U.S. Securities and Exchange Commission (SEC), which are available on the SEC’swebsite at www.sec.gov. Existing and prospective investors are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof. Except as required by law, the company disclaims any intention or responsibility for updating or revising any forward-looking statements contained in this press release. VIVITROL® is a registered trademark of Alkermes, Inc.; ARISTADA®, ARISTADA INITIO® and LYBALVI® are registered trademarks of Alkermes Pharma Ireland Limited, used by Alkermes, Inc. under license; LUMRYZ® is a registered trademark of Flamel Ireland Limited, an affiliate of Alkermes plc; BYANNLI®, INVEGA HAFYERA®, INVEGA TRINZA®, TREVICTA® and XEPLION®, are registered trademarks of Johnson & Johnson or its affiliated companies; and VUMERITY® is a registered trademark of Biogen MA Inc., used by Alkermes under license. (tables follow) i The term “ARISTADA” as used in this press release refers to ARISTADA and ARISTADA INITIO®, unless the context indicates otherwise.
Page 5
5 Alkermes plc and Subsidiaries Selected Financial Information (Unaudited) Condensed Consolidated Statements of Operations - GAAP Three Months Ended Three Months Ended (In thousands, except per share data) September 30, 2026 September 30, 2025 Revenues: Product sales, net $ 417,280 $ 317,423 Manufacturing and royalty revenues 62,852 76,762 Total Revenues 480,132 394,185 Expenses: Cost of goods manufactured and sold 94,220 51,591 Research and development 121,120 81,739 Selling, general and administrative 208,502 171,773 Amortization of acquired intangible assets 19,698 — Change in the fair value of contingent consideration 568 — Total Expenses 444,108 305,103 Operating Income 36,024 89,082 Other (Expense) Income, net: Interest income 6,487 11,943 Interest expense (27,551) — Other expense, net (223) (280) Total Other (Expense) Income, net (21,287) 11,663 Income Before Income Taxes 14,737 100,745 Income Tax (Benefit) Provision (1,550) 17,984 Net Income — GAAP $ 16,287 $ 82,761 Earnings Per Share - Basic $ 0.10 $ 0.50 Earnings Per Share - Diluted $ 0.09 $ 0.49 Weighted Average Number of Ordinary Shares Outstanding: Basic 167,872 165,086 Diluted 176,370 168,510 An itemized reconciliation between net income on a GAAP basis and Adjusted EBITDA is as follows: Net Income — GAAP $ 16,287 $ 82,761 Adjustments: Interest income (6,487) (11,943) Interest expense 27,551 — Income tax (benefit) provision (1,550) 17,984 Depreciation expense 7,461 8,060 Amortization of acquired intangible assets 19,698 19 EBITDA 62,960 96,881 Share-based compensation 26,747 24,665 Costs related to the acquisition of Avadel 29,790 — Change in the fair value of contingent consideration 568 — Adjusted EBITDA $ 120,065 $ 121,546
Page 6
6 Alkermes plc and Subsidiaries Selected Financial Information (Unaudited) Condensed Consolidated Statements of Operations - GAAP Nine Months Ended Nine Months Ended (In thousands, except per share data) September 30, 2026 September 30, 2025 Revenues: Product sales, net $ 1,167,118 $ 869,151 Manufacturing and royalty revenues 201,934 222,201 Total Revenues 1,369,052 1,091,352 Expenses: Cost of goods manufactured and sold 253,910 150,248 Research and development 337,385 230,926 Selling, general and administrative 690,720 514,326 Amortization of acquired intangible assets 53,958 — Change in the fair value of contingent consideration 26,982 — Total Expenses 1,362,955 895,500 Operating Income 6,097 195,852 Other (Expense) Income, net: Interest income 20,370 33,174 Interest expense (74,368) — Other (expense) income, net (1,164) 2,047 Total Other (Expense) Income, net (55,162) 35,221 (Loss) Income Before Income Taxes (49,065) 231,073 Income Tax Provision 627 38,750 Net (Loss) Income — GAAP $ (49,692) $ 192,323 (Loss) Earnings Per Share - Basic $ (0.30) $ 1.17 (Loss) Earnings Per Share - Diluted $ (0.30) $ 1.14 Weighted Average Number of Ordinary Shares Outstanding: Basic 167,037 164,490 Diluted 167,037 168,445 An itemized reconciliation between net (loss) income on a GAAP basis and Adjusted EBITDA is as follows: Net (Loss) Income — GAAP $ (49,692) $ 192,323 Adjustments: Interest income (20,370) (33,174) Interest expense 74,368 — Income tax provision 627 38,750 Depreciation expense 22,907 23,262 Amortization of acquired intangible assets 53,958 56 EBITDA 81,798 221,217 Share-based compensation 112,624 72,441 Costs related to the acquisition of Avadel 118,140 — Change in the fair value of contingent consideration 26,982 — Adjusted EBITDA $ 339,544 $ 293,658
Page 7
7 Alkermes plc and Subsidiaries Selected Financial Information (Unaudited) Condensed Consolidated Balance Sheets September 30, December 31, (In thousands) 2026 2025 Cash, cash equivalents and total investments $ 787,574 $ 588,360 Restricted cash — 731,206 Receivables 459,090 334,025 Inventory 261,098 196,625 Prepaid expenses and other current assets 105,086 79,090 Property, plant and equipment, net 215,023 221,722 Intangible assets, net 1,741,758 815 Goodwill 592,519 83,027 Deferred tax assets 120,771 125,815 Other assets 152,604 126,308 Total Assets $ 4,435,523 $ 2,486,993 Accrued sales discounts, allowances and reserves $ 323,406 $ 247,126 Long-term debt, current portion 26,500 — Other current liabilities 302,027 296,311 Long-term debt 1,471,231 — Other long-term liabilities 447,638 124,261 Total shareholders' equity 1,864,721 1,819,295 Total Liabilities and Shareholders' Equity $ 4,435,523 $ 2,486,993 Ordinary shares outstanding (in thousands) 168,030 165,607 This selected financial information should be read in conjunction with the consolidated financial statements and notes thereto included in Alkermes plc's Quarterly Report on Form 10-Q for the quarter ended September 30, 2026, which the company intends to file in November 2026.
Page 8
8 Alkermes plc and Subsidiaries Summary of Costs Related to the Acquisition of Avadel Three Months Ended September 30, 2026 (In thousands) GAAP Results Costs Related to the Acquisition of Avadel Net of Costs Related to the Acquisition of Avadel Three Months Ended September 30, 2025 Cost of goods manufactured and sold $ 94,220 $ 28,650 $ 65,570 $ 51,591 Research and development $ 121,120 $ 111 $ 121,009 $ 81,739 Selling, general and administrative $ 208,502 $ 1,029 $ 207,473 $ 171,773 Nine Months Ended September 30, 2026 (In thousands) GAAP Results Costs Related to the Acquisition of Avadel (1) Net of Costs Related to the Acquisition of Avadel Nine Months Ended September 30, 2025 Cost of goods manufactured and sold $ 253,910 $ 72,413 $ 181,497 $ 150,248 Research and development $ 337,385 $ 8,314 $ 329,071 $ 230,926 Selling, general and administrative $ 690,720 $ 57,602 $ 633,118 $ 514,326 (1) Includes $20,188 of share-based compensation expense related to the acceleration of vesting of equity awards for Avadel employees which vested in full upon the closing of the transaction.