<span item_type="fundamental" item_id="1ec7540148230fb55be027e73e9be9d8" counter_id="ST/US/ZVRA" env="prod"></span><span item_type="announcement" item_id="645475195255986817" env="prod"></span><p>Revenue: As of FY2026 Q1, the actual value is USD 36.22 M, beating the estimate of USD 31.96 M.</p><p>EPS: As of FY2026 Q1, the actual value is USD 0.6, beating the estimate of USD 0.0811.</p><p>EBIT: As of FY2026 Q1, the actual value is USD 50.27 M.</p><p></p><p>Zevra Therapeutics, Inc. reported its financial results and corporate updates for the first quarter ended March 31, 2026, as detailed in a press release issued on May 6, 2026 <span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1434647/000143464726000029/zvra-20260506.htm"></span>.</p><h4>Revenue, Net</h4><p>Revenue, net for Q1 2026 was $36.2 million, marking a 78% increase over Q1 2025 revenue of $20.4 million <span class="superscript" item_id="0" item_type="announcement_file" value="2" url="https://www.sec.gov/Archives/edgar/data/1434647/000143464726000029/zvra-20260506xex991earnings.htm"></span>. The Q1 2026 revenue included $24.6 million from MIPLYFFA net revenue, $0.3 million from OLPRUVA net revenue, $10.2 million in net reimbursements from the Expanded Access Program (EAP), and $1.1 million in royalties and other reimbursements under the AZSTARYS® license agreement <span class="superscript" item_id="0" item_type="announcement_file" value="2" url="https://www.sec.gov/Archives/edgar/data/1434647/000143464726000029/zvra-20260506xex991earnings.htm"></span>.</p><h4>Cost of Product Revenue</h4><p>Cost of product revenue (excluding non-cash intangible asset amortization) was $1.9 million in Q1 2026, compared to $1.3 million in Q1 2025 <span class="superscript" item_id="0" item_type="announcement_file" value="2" url="https://www.sec.gov/Archives/edgar/data/1434647/000143464726000029/zvra-20260506xex991earnings.htm"></span>.</p><h4>Intangible Asset Amortization</h4><p>Intangible asset amortization was $0.3 million in Q1 2026, down from $1.6 million in Q1 2025 <span class="superscript" item_id="0" item_type="announcement_file" value="2" url="https://www.sec.gov/Archives/edgar/data/1434647/000143464726000029/zvra-20260506xex991earnings.htm"></span>.</p><h4>Gain on Sale of Future Royalties, Intellectual Property, and Other Assets, Net</h4><p>The company reported a net gain of $43.3 million from the sale of future royalties, intellectual property, and other assets in Q1 2026, with no comparable gain in Q1 2025 <span class="superscript" item_id="0" item_type="announcement_file" value="2" url="https://www.sec.gov/Archives/edgar/data/1434647/000143464726000029/zvra-20260506xex991earnings.htm"></span>.</p><h4>Operating Expenses</h4><p>Total operating expenses for Q1 2026 were $25.2 million, including $3.1 million in non-cash stock compensation expense, an increase from $22.8 million in Q1 2025 <span class="superscript" item_id="0" item_type="announcement_file" value="2" url="https://www.sec.gov/Archives/edgar/data/1434647/000143464726000029/zvra-20260506xex991earnings.htm"></span>. <strong>Research and Development (R&amp;D) Expense</strong>: R&amp;D expense increased by $1.1 million to $4.4 million in Q1 2026, from $3.3 million in Q1 2025, primarily due to increased third-party costs and professional fees <span class="superscript" item_id="0" item_type="announcement_file" value="2" url="https://www.sec.gov/Archives/edgar/data/1434647/000143464726000029/zvra-20260506xex991earnings.htm"></span>. <strong>Selling, General and Administrative (SG&amp;A) Expense</strong>: SG&amp;A expense rose by $1.2 million to $20.8 million in Q1 2026, from $19.5 million in Q1 2025, primarily due to increased professional fees, partially offset by decreased third-party spending <span class="superscript" item_id="0" item_type="announcement_file" value="2" url="https://www.sec.gov/Archives/edgar/data/1434647/000143464726000029/zvra-20260506xex991earnings.htm"></span>.</p><h4>Income (Loss) from Operations</h4><p>Income from operations was $52.1 million in Q1 2026, a significant improvement from a loss of - $5.4 million in Q1 2025 <span class="superscript" item_id="0" item_type="announcement_file" value="2" url="https://www.sec.gov/Archives/edgar/data/1434647/000143464726000029/zvra-20260506xex991earnings.htm"></span>.</p><h4>Other (Expense) Income</h4><p>Total other (expense) income for Q1 2026 was - $7.3 million, compared to $3.4 million in Q1 2025 <span class="superscript" item_id="0" item_type="announcement_file" value="2" url="https://www.sec.gov/Archives/edgar/data/1434647/000143464726000029/zvra-20260506xex991earnings.htm"></span>. This included a loss on extinguishment of debt of - $2.8 million, a loss on derivative liability of - $7.2 million, and interest expense of - $1.7 million in Q1 2026, versus - $2.0 million in Q1 2025 <span class="superscript" item_id="0" item_type="announcement_file" value="2" url="https://www.sec.gov/Archives/edgar/data/1434647/000143464726000029/zvra-20260506xex991earnings.htm"></span>. Fair value adjustments related to warrant and CVR liability were $1.0 million in Q1 2026, down from $4.9 million in Q1 2025, while fair value adjustments related to investments were - $0.2 million in Q1 2026 and - $0.003 million in Q1 2025 <span class="superscript" item_id="0" item_type="announcement_file" value="2" url="https://www.sec.gov/Archives/edgar/data/1434647/000143464726000029/zvra-20260506xex991earnings.htm"></span>. Interest and other income, net, increased to $3.6 million in Q1 2026 from $0.5 million in Q1 2025 <span class="superscript" item_id="0" item_type="announcement_file" value="2" url="https://www.sec.gov/Archives/edgar/data/1434647/000143464726000029/zvra-20260506xex991earnings.htm"></span>.</p><h4>Income (Loss) Before Income Taxes</h4><p>Income before income taxes was $44.8 million in Q1 2026, a substantial increase from a loss of - $1.9 million in Q1 2025 <span class="superscript" item_id="0" item_type="announcement_file" value="2" url="https://www.sec.gov/Archives/edgar/data/1434647/000143464726000029/zvra-20260506xex991earnings.htm"></span>.</p><h4>Income Tax Expense</h4><p>Income tax expense was - $6.9 million in Q1 2026, compared to - $1.2 million in Q1 2025 <span class="superscript" item_id="0" item_type="announcement_file" value="2" url="https://www.sec.gov/Archives/edgar/data/1434647/000143464726000029/zvra-20260506xex991earnings.htm"></span>.</p><h4>Net Income (Loss)</h4><p>Net income for Q1 2026 was $37.9 million, a significant improvement from a net loss of - $3.1 million in Q1 2025 <span class="superscript" item_id="0" item_type="announcement_file" value="2" url="https://www.sec.gov/Archives/edgar/data/1434647/000143464726000029/zvra-20260506xex991earnings.htm"></span>.</p><h4>Adjusted Quarterly Net Income (Non-GAAP)</h4><p>Estimated adjusted quarterly net income (Non-GAAP) for Q1 2026 was $11.5 million, or $0.18 per diluted share <span class="superscript" item_id="0" item_type="announcement_file" value="2" url="https://www.sec.gov/Archives/edgar/data/1434647/000143464726000029/zvra-20260506xex991earnings.htm"></span>. This excludes a $43.3 million one-time gain on the sale of the SDX portfolio, one-time charges of - $2.8 million in loss on extinguishment of debt, - $7.2 million in loss on derivative liability and payoff premium related to the term loan prepayment, and - $6.9 million in income tax expense related to the transaction <span class="superscript" item_id="0" item_type="announcement_file" value="2" url="https://www.sec.gov/Archives/edgar/data/1434647/000143464726000029/zvra-20260506xex991earnings.htm"></span>.</p><h4>Cash Position</h4><p>As of March 31, 2026, cash, cash equivalents, and securities totaled $236.8 million <span class="superscript" item_id="0" item_type="announcement_file" value="2" url="https://www.sec.gov/Archives/edgar/data/1434647/000143464726000029/zvra-20260506xex991earnings.htm"></span>. Zevra Therapeutics, Inc. received $40.5 million of the $45.0 million in net proceeds from the sale of the SDX portfolio in Q1 2026 <span class="superscript" item_id="0" item_type="announcement_file" value="2" url="https://www.sec.gov/Archives/edgar/data/1434647/000143464726000029/zvra-20260506xex991earnings.htm"></span>.</p><h4>Balance Sheet Highlights (in thousands)</h4><ul><li><strong>Cash and cash equivalents</strong>: $95,595 as of March 31, 2026, up from $62,406 as of December 31, 2025 <span class="superscript" item_id="0" item_type="announcement_file" value="2" url="https://www.sec.gov/Archives/edgar/data/1434647/000143464726000029/zvra-20260506xex991earnings.htm"></span>.</li><li><strong>Investments, current</strong>: $105,021 as of March 31, 2026, down from $128,605 as of December 31, 2025 <span class="superscript" item_id="0" item_type="announcement_file" value="2" url="https://www.sec.gov/Archives/edgar/data/1434647/000143464726000029/zvra-20260506xex991earnings.htm"></span>.</li><li><strong>Total current assets</strong>: $229,968 as of March 31, 2026, up from $223,007 as of December 31, 2025 <span class="superscript" item_id="0" item_type="announcement_file" value="2" url="https://www.sec.gov/Archives/edgar/data/1434647/000143464726000029/zvra-20260506xex991earnings.htm"></span>.</li><li><strong>Long-term debt</strong>: $0 as of March 31, 2026, significantly reduced from $61,928 as of December 31, 2025 <span class="superscript" item_id="0" item_type="announcement_file" value="2" url="https://www.sec.gov/Archives/edgar/data/1434647/000143464726000029/zvra-20260506xex991earnings.htm"></span>.</li><li><strong>Total liabilities</strong>: $72,775 as of March 31, 2026, down from $130,074 as of December 31, 2025 <span class="superscript" item_id="0" item_type="announcement_file" value="2" url="https://www.sec.gov/Archives/edgar/data/1434647/000143464726000029/zvra-20260506xex991earnings.htm"></span>.</li><li><strong>Total stockholders’ equity</strong>: $205,804 as of March 31, 2026, up from $154,657 as of December 31, 2025 <span class="superscript" item_id="0" item_type="announcement_file" value="2" url="https://www.sec.gov/Archives/edgar/data/1434647/000143464726000029/zvra-20260506xex991earnings.htm"></span>.</li></ul><h4>Operational Metrics</h4><p>Nine new prescription enrollment forms for MIPLYFFA® (arimoclomol) for Niemann-Pick disease type C (NPC) were received in Q1 2026, bringing the total to 170 since product launch <span class="superscript" item_id="0" item_type="announcement_file" value="2" url="https://www.sec.gov/Archives/edgar/data/1434647/000143464726000029/zvra-20260506xex991earnings.htm"></span>. MIPLYFFA® market access in the U.S. remains stable at 69% of covered lives, and as of March 31, 2026, 122 patients were enrolled in the Global Expanded Access Program (EAP) <span class="superscript" item_id="0" item_type="announcement_file" value="2" url="https://www.sec.gov/Archives/edgar/data/1434647/000143464726000029/zvra-20260506xex991earnings.htm"></span>. In the Phase 3 DiSCOVER Trial for Vascular Ehlers-Danlos Syndrome, 10 patients were enrolled in Q1 2026, totaling 62 enrolled patients with two confirmed events <span class="superscript" item_id="0" item_type="announcement_file" value="2" url="https://www.sec.gov/Archives/edgar/data/1434647/000143464726000029/zvra-20260506xex991earnings.htm"></span>. Zevra Therapeutics, Inc. completed a $50.0 million sale of the SDX portfolio to Commave Therapeutics and prepaid the principal balance on its $63.1 million term loan in full, resulting in a debt-free balance sheet <span class="superscript" item_id="0" item_type="announcement_file" value="2" url="https://www.sec.gov/Archives/edgar/data/1434647/000143464726000029/zvra-20260506xex991earnings.htm"></span>.</p><h4>Outlook / Guidance</h4><p>Zevra Therapeutics, Inc. plans to hold a follow-up meeting with the FDA in the second half of the year to explore pathways for accelerating the clinical development of its treatment for Vascular Ehlers-Danlos Syndrome <span class="superscript" item_id="0" item_type="announcement_file" value="2" url="https://www.sec.gov/Archives/edgar/data/1434647/000143464726000029/zvra-20260506xex991earnings.htm"></span>. The Marketing Authorisation Application for arimoclomol for the treatment of NPC is currently under review by the European Medicines Agency <span class="superscript" item_id="0" item_type="announcement_file" value="2" url="https://www.sec.gov/Archives/edgar/data/1434647/000143464726000029/zvra-20260506xex991earnings.htm"></span>. Based on its current operating forecast, the company believes its available financial resources are sufficient to execute on its strategic priorities independent of capital markets <span class="superscript" item_id="0" item_type="announcement_file" value="2" url="https://www.sec.gov/Archives/edgar/data/1434647/000143464726000029/zvra-20260506xex991earnings.htm"></span>.</p>

Zevra Therapeutics | 8-K: FY2026 Q1 Revenue Beats Estimate at USD 36.22 M