ACAD

MKT CAP:$4B

ACADIA Pharmaceuticals Inc.

Market Cap

$4B

Healthcare·Biotechnology·🇺🇸 United States·NASDAQ

Healthcare·Biotechnology·🇺🇸·NASDAQ

Stock Price

$22.27-$4.02 (-15.29%)

Apr 22, 2026

Company Details

ACADIA Pharmaceuticals Inc., a biopharmaceutical company, focuses on the development and commercialization of small molecule drugs that address unmet medical needs in central nervous system disorders. The company offers NUPLAZID (pimavanser...

CEO

Catherine E. Owen Adams

IPO Date

May 27, 2004

Website

www.acadia-pharm.com

Key Metrics TTM

Revenue

$1.1B

+11.9% YoY

Net Income

$391M

EPS (Diluted)

$2.29

Free Cash Flow

$105M

Revenue / Share

$6.25

Gross Margin

91.7%

Operating Margin

9.8%

Net Margin

36.5%

FCF Margin

9.8%

P/S

3.5x

P/E

9.6x

Earnings Reports

Q1 2026

May 6, 2026

PENDING

FY 2025

Feb 25, 2026

$1.1B+11.9%EPS $2.29

Q4 2025

Feb 25, 2026

$284M+9.4%EPS $1.60

Q3 2025

Nov 5, 2025

$279M+11.3%EPS $0.42

Q2 2025

Aug 6, 2025

$265M+9.3%EPS $0.16

Revenue & Profitability

Quarter	Revenue	Gross Profit	Operating Income
Q1 22	$115M	$113M	-$113M
Q2 22	$135M	$132M	-$34M
Q3 22	$131M	$129M	-$31M
Q4 22	$136M	$134M	-$46M
Q1 23	$118M	$117M	-$54M
Q2 23	$165M	$158M	$3M
Q3 23	$212M	$197M	-$58M
Q4 23	$231M	$213M	$35M
Q1 24	$206M	$183M	$15M
Q2 24	$242M	$224M	$30M
Q3 24	$250M	$232M	$32M
Q4 24	$260M	$238M	$154M
Q1 25	$244M	$224M	$19M
Q2 25	$265M	$244M	$32M
Q3 25	$279M	$257M	$36M
Q4 25	$284M	$258M	$17M

Valuation

Quarter	P/S	P/E
Q1 22	7.6x	—
Q2 22	7.3x	—
Q3 22	7.3x	—
Q4 22	7.2x	—
Q1 23	7.2x	—
Q2 23	6.8x	—
Q3 23	5.9x	—
Q4 23	5.2x	—
Q1 24	4.6x	—
Q2 24	4.2x	122.4x
Q3 24	4.0x	29.1x
Q4 24	3.9x	16.5x
Q1 25	3.8x	16.3x
Q2 25	3.7x	16.8x
Q3 25	3.6x	14.3x
Q4 25	3.5x	9.6x

Operating Cash Flow

Quarter	Operating CF	Free CF
Q1 22	-$76M	-$76M
Q2 22	-$13M	-$13M
Q3 22	-$727.0K	-$727.0K
Q4 22	-$24M	-$24M
Q1 23	-$18M	-$18M
Q2 23	$8M	$8M
Q3 23	-$59M	-$59M
Q4 23	$85M	$85M
Q1 24	$29M	$29M
Q2 24	$25M	$25M
Q3 24	$63M	$63M
Q4 24	$40M	$40M
Q1 25	$20M	-$79M
Q2 25	$64M	$162M
Q3 25	$74M	$74M
Q4 25	-$49M	-$53M

Capital Expenditures

Quarter	CapEx
Q1 22	$0
Q2 22	$0
Q3 22	$0
Q4 22	$0
Q1 23	$0
Q2 23	$0
Q3 23	$50.0K
Q4 23	$0
Q1 24	$0
Q2 24	$0
Q3 24	$70.0K
Q4 24	$453.0K
Q1 25	$99M
Q2 25	$99M
Q3 25	$388.0K
Q4 25	$4M

CapEx

OpEx vs Revenue Growth (YoY)

Quarter	Revenue Growth	OpEx Growth
Q1 22	+8.4%	+31.8%
Q2 22	+16.8%	+5.8%
Q3 22	-0.7%	+10.0%
Q4 22	+4.4%	+4.1%
Q1 23	+2.6%	-24.7%
Q2 23	+22.8%	-3.6%
Q3 23	+62.0%	+66.8%
Q4 23	+69.3%	+7.4%
Q1 24	+73.8%	+10.8%
Q2 24	+46.4%	+30.4%
Q3 24	+18.3%	-18.8%
Q4 24	+12.4%	-45.9%
Q1 25	+18.7%	+18.0%
Q2 25	+9.3%	+9.8%
Q3 25	+11.3%	+11.0%
Q4 25	+9.4%	+151.3%

Stock-Based Compensation

Quarter	SBC ($)	% of Revenue
Q1 22	$15M	13.0%
Q2 22	$21M	15.2%
Q3 22	$18M	14.0%
Q4 22	$14M	10.6%
Q1 23	$15M	12.4%
Q2 23	$15M	9.2%
Q3 23	$19M	8.8%
Q4 23	$18M	7.8%
Q1 24	$15M	7.2%
Q2 24	$16M	6.5%
Q3 24	$26M	10.4%
Q4 24	$10M	4.0%
Q1 25	$11M	4.7%
Q2 25	$14M	5.4%
Q3 25	$13M	4.7%
Q4 25	$0	0.0%

OpEx Breakdown

Quarter	R&D	SG&A
Q1 22	$129M	$97M
Q2 22	$76M	$90M
Q3 22	$81M	$78M
Q4 22	$76M	$104M
Q1 23	$69M	$101M
Q2 23	$59M	$96M
Q3 23	$157M	$98M
Q4 23	$67M	$111M
Q1 24	$60M	$108M
Q2 24	$76M	$117M
Q3 24	$67M	$133M
Q4 24	$101M	$130M
Q1 25	$78M	$126M
Q2 25	$78M	$134M
Q3 25	$88M	$133M
Q4 25	$85M	$156M

War Chest

Quarter	Cash	Short-term Investments	Total
Q1 22	$205M	$241M	$446M
Q2 22	$140M	$297M	$436M
Q3 22	$155M	$282M	$437M
Q4 22	$115M	$302M	$417M
Q1 23	$291M	$112M	$403M
Q2 23	$108M	$267M	$375M
Q3 23	$98M	$248M	$346M
Q4 23	$189M	$250M	$439M
Q1 24	$205M	$266M	$471M
Q2 24	$177M	$324M	$501M
Q3 24	$155M	$410M	$565M
Q4 24	$320M	$436M	$756M
Q1 25	$218M	$464M	$682M
Q2 25	$254M	$508M	$762M
Q3 25	$258M	$589M	$847M
Q4 25	$178M	$642M	$820M

Shares Outstanding

Quarter	Shares (Diluted)	QoQ Change	YoY Change
Q1 22	161M	+0.2%	+0.8%
Q2 22	162M	+0.3%	+0.8%
Q3 22	162M	+0.1%	+0.7%
Q4 22	162M	+0.1%	+0.7%
Q1 23	162M	+0.2%	+0.6%
Q2 23	165M	+1.7%	+2.1%
Q3 23	164M	-0.5%	+1.5%
Q4 23	167M	+1.4%	+2.8%
Q1 24	167M	+0.1%	+2.7%
Q2 24	166M	-0.3%	+0.7%
Q3 24	166M	+0.0%	+1.2%
Q4 24	166M	+0.1%	-0.1%
Q1 25	168M	+0.8%	+0.6%
Q2 25	169M	+0.6%	+1.5%
Q3 25	171M	+1.2%	+2.7%
Q4 25	171M	+0.4%	+3.0%

Shares Outstanding

Revenue Per Employee

Period	Revenue/Employee	Employees
Q1 22	$224.6K	514
Q2 22	$261.8K	514
Q3 22	$254.3K	514
Q4 22	$266.1K	513
Q1 23	$230.9K	513
Q2 23	$322.1K	513
Q3 23	$412.7K	513
Q4 23	$386.4K	598
Q1 24	$344.2K	598
Q2 24	$404.6K	598
Q3 24	$418.7K	598
Q4 24	$396.9K	654
Q1 25	$373.6K	654
Q2 25	$404.5K	654
Q3 25	$426.0K	654
Q4 25	$434.2K	654

Revenue / Employee