AI-extracted from the 10-Q filed 2026-08-05 — Q2 FY2026 (quarter ended June 30, 2026). Every figure is machine-verified against the filing text on SEC EDGAR.
Total revenues fell 2% YoY to $783.3M as an 18% decline in Nebulized Tyvaso sales from competitive pressure offset 4% growth in Tyvaso DPI, while operating income dropped to $330.8M from $364.5M.
Biggest Revenue Drivers
Tyvaso DPI$326.6M+4% YoY
Increase in quantities sold of $6.9M and a price increase of $9.4M, partially offset by higher gross-to-net deductions
Nebulized Tyvaso$126.0M-18% YoY
Decrease in U.S. quantities sold of $37.6M, partially offset by a price increase; availability of competitive therapies negatively impacted sales
Biggest Revenue Drivers
Total revenue: $783.3M-2% YoY
Tyvaso DPI$326.6M+4% YoY
Increase in quantities sold of $6.9M and a price increase of $9.4M, partially offset by higher gross-to-net deductions
Nebulized Tyvaso$126.0M-18% YoY
Decrease in U.S. quantities sold of $37.6M, partially offset by a price increase; availability of competitive therapies negatively impacted sales
Remodulin$126.3M-6% YoY
Decrease in U.S. quantities sold of $12.3M, partially offset by an increase in international net product sales
Orenitram$125.7M+1% YoY
Growth in quantities sold
Unituxin$65.2M+12% YoY
Largest Expense Items
Selling, general, and administrative$206.7M-3% YoY
Decrease driven by absence of a $21.7M PP&E impairment recorded in the prior-year quarter, partially offset by higher personnel, consulting, and sales & marketing costs
Research and development$146.3M+9% YoY
Increase in expenditures related to cardiopulmonary treatment projects and an increase in the fair value of contingent consideration obligations for organ/organ-alternative projects
Cost of sales$99.5M+14% YoY
Increase in inventory reserve expense, including $7.5M of estimated losses related to a Tyvaso DPI commercial supply agreement
Margins: Operating income fell to $330.8M from $364.5M YoY as revenue declined 2% while cost of sales and R&D expense both rose; SG&A declined only because the prior-year quarter included a one-time $21.7M PP&E impairment that did not recur.
Watch Items from the Filing
Two U.S. distributors accounted for 48% and 37% of total revenues in Q2 FY2026 (85% combined), creating concentrated counterparty exposure.
Sandoz litigation: accrued liability of $75.7M (damages, prejudgment and post-judgment interest through June 30, 2026) with appeal pending before the Third Circuit; adverse outcome could exceed the accrual.
Nebulized Tyvaso and Remodulin sales declined YoY, which the filing attributes to competition from newly launched therapies including Liquidia's Yutrepia and Merck's Winrevair.
$2.0B share repurchase program authorized in March 2026; $1.5B already executed via ASR agreements with $500M remaining available through March 2027.
Subsequent to quarter-end, acquired Thymmune Therapeutics for ~$140M upfront (expensed in Q3 2026 as IPR&D) plus up to $160M in contingent milestone payments.
AI-extracted and verified against SEC EDGAR filing text. Not investment advice.
4 transactions in UTHR reported by 1 member of Congress under the STOCK Act, most recent trade Oct 31, 2025. Reported transactions, not recommendations.
About UNITED THERAPEUTICS Corp (UTHR): stock profile, AI score and financials
UNITED THERAPEUTICS Corp (UTHR) stock profile, AI quality score, and SEC EDGAR financial data, a Healthcare sector company. 13F Pro's AI-powered ranking engine scores UTHR at 71.2/100 on a composite quality score built from its SEC filings, placing it at rank #186 of 2,925 stocks — the top 10% of the AI-ranked universe. UTHR scores in the top quartile across profitability (96.1), balance sheet strength (94.6), free cash flow (88.3). Areas of concern include institutional flow (8.4), which score below median versus the broader universe. Shareholder dilution risk is elevated at 25.3/100, reflecting ongoing share issuance or stock-based compensation. Based on the latest XBRL financial filings (Q2 2026), UNITED THERAPEUTICS Corp reports quarterly revenue of $783.3M, net income of $333.0M, an operating margin of 42.2%. Top institutional holders of UTHR by reported 13-F value include BlackRock, Avoro Capital Advisors, VANGUARD PORTFOLIO MANAGEMENT, based on the most recent SEC filings. UTHR trades on the Nasdaq exchange and files with the SEC under CIK 1082554. 13F Pro's AI research platform runs 10 specialized AI analysts — value, growth, momentum, macro, and activist specialists — that debate UTHR 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 UNITED THERAPEUTICS Corp directly from SEC EDGAR.