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%. Top institutional holders of SRPT by reported 13-F value include BlackRock, STATE STREET, VANGUARD PORTFOLIO MANAGEMENT, based on the most recent SEC filings. 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.