AI-extracted from the 10-Q filed 2026-08-06 — Q2 FY2026 (quarter ended June 30, 2026). Every figure is machine-verified against the filing text on SEC EDGAR.
Q2 revenue rose 5% to $183.9M driven by new product launches and higher volumes, offset by pricing pressure on BAQSIMI and glucagon; BAQSIMI milestone triggered $100M payment due Q3.
Biggest Revenue Drivers
Other products$66.2M+25% YoY
Recently launched iron sucrose, teriparatide, ipratropium bromide; albuterol volume growth and supplier shortage-driven demand for phytonadione and sodium bicarbonate
BAQSIMI$45.5M-3% YoY
Unit volume growth of $6.9M offset by lower average selling price due to chargeback/rebate changes and customer mix shifts, reducing sales $8.1M
Biggest Revenue Drivers
Total revenue: $183.9M+5% YoY
Other products$66.2M+25% YoY
Recently launched iron sucrose, teriparatide, ipratropium bromide; albuterol volume growth and supplier shortage-driven demand for phytonadione and sodium bicarbonate
BAQSIMI$45.5M-3% YoY
Unit volume growth of $6.9M offset by lower average selling price due to chargeback/rebate changes and customer mix shifts, reducing sales $8.1M
Primatene MIST$21.0M-8% YoY
Timing of customer purchases; underlying in-store consumer demand continues to show growth
Glucagon$11.9M-42% YoY
Lower average selling price and decreased unit volumes due to increased competition and shift to ready-to-use products like BAQSIMI
Epinephrine$15.9M-2% YoY
Multi-dose vial sales declined $2.2M due to increased competition; pre-filled syringe sales grew $1.9M from competitor shortages
Largest Expense Items
Cost of revenues$90.4M+3% YoY
Manufacturing expenses increased due to Rancho Cucamonga facility expansion; partially offset by higher-margin product mix (iron sucrose, teriparatide, ipratropium bromide)
Research and development$22.2M+10% YoY
Increased clinical trial expenses for insulin pipeline and inhalation candidates; increased salary and personnel-related expenses
General and administrative$18.2M+30% YoY
Increased legal expense, ERP system implementation costs, and salary and personnel-related expenses
Selling, distribution, and marketing$13.3M+30% YoY
Increased freight expense and marketing efforts for BAQSIMI
Margins: Gross margin improved 100 bps to 51% YoY, driven by higher-margin recently launched products and volume mix, but pressured by pricing declines in BAQSIMI, glucagon, and epinephrine multi-dose vials, plus increased manufacturing expenses from facility expansion.
Watch Items from the Filing
BAQSIMI achieved $175M annual net sales milestone in June 2026, triggering $100M payment due Q3 2026; additional contingent milestone payments up to $350M possible over next five years based on sales thresholds.
IMS subsidiary (South El Monte, CA) received FDA Warning Letter in July 2026 for cGMP violations; voluntarily suspended manufacture of one non-shortage-at-risk product; company states no material adverse effect anticipated, but resolution timing uncertain.
Three customers (Cencora 30%, McKesson 29%, Cardinal Health 11%) represent 70% of Q2 2026 accounts receivable, creating significant customer concentration risk.
Glucagon sales declined 42% YoY in Q2 due to competitive pressure and market shift to ready-to-use products; company anticipates continued future declines.
Jack Y. Zhang and Mary Z. Luo have pledged 5.7M shares (approximately 13% of common stock) as collateral for $57M in loans to affiliates; lenders hold forced-sale rights, creating potential stock price pressure.
AI-extracted and verified against SEC EDGAR filing text. Not investment advice.
Pierce Anthony TReporting ownerGrant or award · Jul 9, 2026
Lee HowardReporting ownerShares withheld for tax or exercise price · Jun 2, 2026
Deflin GayleReporting ownerGrant or award · Jun 1, 2026
Gaugh David RussellReporting ownerGrant or award · Jun 1, 2026
Gerst Diane G.Reporting ownerGrant or award · Jun 1, 2026
Zasloff Michael AReporting ownerGrant or award · Jun 1, 2026
Zhang Jack Y.CEO & CHIEF SCIENTIFIC OFFICERShares withheld for tax or exercise price · Mar 15, 2026
About Amphastar Pharmaceuticals, Inc. (AMPH): stock profile, AI score and financials
Amphastar Pharmaceuticals, Inc. (AMPH) stock profile, AI quality score, and SEC EDGAR financial data, a Healthcare sector company. 13F Pro's AI-powered ranking engine scores AMPH at 48.8/100 on a composite quality score built from its SEC filings, placing it at rank #1,717 of 2,925 stocks — the bottom half of the AI-ranked universe. AMPH scores in the top quartile across earnings quality (86.2). Areas of concern include institutional flow (3.4) and revenue growth (28.7), which score below median versus the broader universe. Shareholder dilution risk is elevated at 27.9/100, reflecting ongoing share issuance or stock-based compensation. Based on the latest XBRL financial filings (Q2 2026), Amphastar Pharmaceuticals, Inc. reports quarterly revenue of $183.9M, net income of $30.3M, an operating margin of 21.6%. Top institutional holders of AMPH by reported 13-F value include BlackRock, DIMENSIONAL FUND ADVISORS, STATE STREET, based on the most recent SEC filings. AMPH trades on the Nasdaq exchange and files with the SEC under CIK 1297184. 13F Pro's AI research platform runs 10 specialized AI analysts — value, growth, momentum, macro, and activist specialists — that debate AMPH daily and publish AI-generated analysis with cited SEC sources. The platform aggregates historical XBRL financial facts, 10-Q and 10-K filings, insider Form 4 transactions, and institutional 13-F holdings for Amphastar Pharmaceuticals, Inc. directly from SEC EDGAR.