AI-extracted from the 10-Q filed 2026-08-05 — Q2 FY2026 (six months ended June 30, 2026). Every figure is machine-verified against the filing text on SEC EDGAR.
Net income of $326.1M on total revenues of $1,132.1M, but ELEVIDYS sales collapsed 70% YoY to $200.1M due to safety suspensions and label restrictions, while PMO products declined 2% to $459.1M.
Biggest Revenue Drivers
Products, net$659.2M-41% YoY
Primarily driven by lower ELEVIDYS sales volume following safety events and label update restricting to ambulatory patients only.
Collaboration and other$472.9M+104% YoY
$365.0M from Roche declining option and first commercial dosing milestone; $85.5M contract manufacturing revenue from ELEVIDYS supply to Roche.
Biggest Revenue Drivers
Total revenue: $1,132.1M-17% YoY
Products, net$659.2M-41% YoY
Primarily driven by lower ELEVIDYS sales volume following safety events and label update restricting to ambulatory patients only.
Within Products, net
PMO Products$459.1M-2% YoY
U.S. and Rest of World PMO product sales remained relatively flat despite commercial challenges.
ELEVIDYS$200.1M-70% YoY
Sharp decline in U.S. sales from $656.8M to $200.1M reflecting suspension of non-ambulatory shipments and subsequent label restriction.
Collaboration and other$472.9M+104% YoY
$365.0M from Roche declining option and first commercial dosing milestone; $85.5M contract manufacturing revenue from ELEVIDYS supply to Roche.
Largest Expense Items
Research and development$245.2M-75% YoY
Reduced by $533.8M in up-front Arrowhead fees (prior year included $583.6M), lower SRP-9001 expenses, reduced clinical trials for paused LGMD programs, and headcount reductions from restructuring.
Cost of sales (excluding amortization)$258.2M-11% YoY
Decreased due to lower ELEVIDYS sales volume, partially offset by write-offs of batches not meeting quality specifications and increased Roche manufacturing costs.
Selling, general and administrative$216.6M-20% YoY
Reduced from lower commercialization spending for ELEVIDYS post-label restriction, reduced legal spending, and headcount reductions from restructuring.
Litigation contingency charge$39.0MNew
Recorded for potential resolution of certain patent litigations, with settlement subject to further negotiation and documentation.
Watch Items from the Filing
ELEVIDYS sales collapsed 70% YoY to $200.1M due to June 2025 suspension of non-ambulatory shipments, July 2025 full U.S. suspension, November 2025 boxed warning for acute liver injury/failure and removal of non-ambulatory population from label. Resumed ambulatory shipments July 31, 2025, but recovery uncertain.
ESSENCE trial for PMO Products (VYONDYS 53, AMONDYS 45) failed primary endpoint in November 2025; sNDAs filed April 2026, FDA accepted for filing June 2026. Risk of FDA label changes, revocation of accelerated approvals, or market withdrawal directives.
FDA placed clinical hold on SRP-9003 and other LGMD programs (SRP-9004, SRP-6004, SRP-9005) in July 2025 following patient death in SRP-9004 trial; SRP-9003 BLA submission delayed pending sirolimus immunosuppression study data. Company suspended LGMD development except SRP-9003 in July 2025 restructuring.
Litigation contingency charge of $39.0M recorded for potential resolution of patent litigations; settlement remains subject to negotiation. Nippon Shinyaku jury awarded Sarepta $115.2M in December 2024 for Viltepso infringement; Regenx vs. Sarepta patent litigation remanded by Federal Circuit February 2026 after reversal.
Customer concentration: as of June 30, 2026, four customers represent 34%, 24%, 21%, and 10% of accounts receivable, net ($376.8M). Product revenue concentration: two customers represented 35% and 22% of product revenues in Q2 2026.
AI-extracted and verified against SEC EDGAR filing text. Not investment advice.
Chambers Michael AndrewReporting ownerGrant or award · Jun 4, 2026
Nicaise ClaudeReporting ownerGrant or award · Jun 4, 2026
Connelly Deirdre PReporting ownerGrant or award · Jun 4, 2026
Behrens M KathleenReporting ownerGrant or award · Jun 4, 2026
Congress trading in SRPT
6 transactions in SRPT reported by 3 members of Congress under the STOCK Act, most recent trade Apr 14, 2025. Reported transactions, not recommendations.
About Sarepta Therapeutics, Inc. (SRPT): stock profile, AI score and financials
Sarepta Therapeutics, Inc. (SRPT) stock profile, AI quality score, and SEC EDGAR financial data, a Healthcare sector company. 13F Pro's AI-powered ranking engine scores SRPT at 45.6/100 on a composite quality score built from its SEC filings, placing it at rank #1,879 of 2,925 stocks — the bottom half of the AI-ranked universe. Areas of concern include profitability (20.5) and balance sheet strength (24.1), which score below median versus the broader universe. Shareholder dilution risk is elevated at 22.6/100, reflecting ongoing share issuance or stock-based compensation. Based on the latest XBRL financial filings (Q2 2026), Sarepta Therapeutics, Inc. reports quarterly revenue of $401.3M, net income of $-4.9M, an operating margin of 3.3%. SRPT trades on the Nasdaq exchange and files with the SEC under CIK 873303. 13F Pro's AI research platform runs 10 specialized AI analysts — value, growth, momentum, macro, and activist specialists — that debate SRPT 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 Sarepta Therapeutics, Inc. directly from SEC EDGAR.