SUPN

MKT CAP:$3B

Supernus Pharmaceuticals, Inc.

Market Cap

$3B

Healthcare·Drug Manufacturers - Specialty & Generic·🇺🇸 United States·NASDAQ

Healthcare·Drug·🇺🇸·NASDAQ

Stock Price

$50.29+$0.82 (+1.66%)

Apr 22, 2026

Company Details

Supernus Pharmaceuticals, Inc., a biopharmaceutical company, focuses on the development and commercialization of products for the treatment of central nervous system (CNS) diseases in the United States. Its commercial products are Trokendi ...

CEO

Jack A. Khattar

IPO Date

May 1, 2012

Website

www.supernus.com

Key Metrics TTM

Revenue

$682M

+4.5% YoY

Net Income

-$19M

EPS (Diluted)

-$0.34

Free Cash Flow

$71M

Revenue / Share

$12.05

Gross Margin

84.3%

Operating Margin

-5.4%

Net Margin

-2.8%

FCF Margin

10.4%

P/S

4.2x

P/E

—

Earnings Reports

Q4 2025

May 5, 2026

PENDING

FY 2025

Mar 2, 2026

$719M+8.6%EPS -$0.68

Q3 2025

Nov 6, 2025

$192M+9.3%EPS -$0.80

Q2 2025

Aug 5, 2025

$165M-1.7%EPS $0.40

Q1 2025

May 6, 2025

$150M+4.3%EPS -$0.21

Revenue & Profitability

Quarter	Revenue	Gross Profit	Operating Income
Q4 21	$159M	$142M	$6M
Q1 22	$153M	$135M	$2M
Q2 22	$170M	$150M	$11M
Q3 22	$177M	$151M	-$2M
Q4 22	$167M	$144M	$34M
Q1 23	$154M	$130M	$5M
Q2 23	$136M	$114M	-$18M
Q3 23	$154M	$134M	$8M
Q4 23	$164M	$145M	-$996.0K
Q1 24	$144M	$127M	-$3M
Q2 24	$168M	$150M	$23M
Q3 24	$176M	$158M	$41M
Q4 24	$174M	$148M	$21M
Q1 25	$150M	$134M	-$10M
Q2 25	$165M	$149M	$12M
Q3 25	$192M	$144M	-$60M

Valuation

Quarter	P/S	P/E
Q4 21	4.9x	53.1x
Q1 22	4.7x	38.7x
Q2 22	4.5x	49.4x
Q3 22	4.3x	75.3x
Q4 22	4.3x	46.8x
Q1 23	4.2x	54.5x
Q2 23	4.5x	65.5x
Q3 23	4.6x	110.8x
Q4 23	4.7x	2156.7x
Q1 24	4.8x	—
Q2 24	4.5x	541.8x
Q3 24	4.4x	47.5x
Q4 24	4.3x	38.4x
Q1 25	4.2x	45.8x
Q2 25	4.3x	44.0x
Q3 25	4.2x	—

Operating Cash Flow

Quarter	Operating CF	Free CF
Q4 21	$49M	$49M
Q1 22	$4M	$3M
Q2 22	$71M	$72M
Q3 22	$14M	$14M
Q4 22	$28M	$28M
Q1 23	$49M	$49M
Q2 23	-$19M	-$19M
Q3 23	$36M	$36M
Q4 23	$45M	$45M
Q1 24	$38M	$38M
Q2 24	$36M	$36M
Q3 24	$54M	$53M
Q4 24	$44M	$44M
Q1 25	$31M	$30M
Q2 25	$59M	$58M
Q3 25	-$62M	-$62M

Capital Expenditures

Quarter	CapEx
Q4 21	$40.0K
Q1 22	$851.0K
Q2 22	$576.0K
Q3 22	$147.0K
Q4 22	$861.0K
Q1 23	$278.0K
Q2 23	$159.0K
Q3 23	$150.0K
Q4 23	$36.0K
Q1 24	$248.0K
Q2 24	$64.0K
Q3 24	$200.0K
Q4 24	$213.0K
Q1 25	$327.0K
Q2 25	$455.0K
Q3 25	$129.0K

CapEx

OpEx vs Revenue Growth (YoY)

Quarter	Revenue Growth	OpEx Growth
Q4 21	+10.8%	+52.1%
Q1 22	+16.5%	+27.9%
Q2 22	+20.3%	+48.0%
Q3 22	+19.5%	+54.4%
Q4 22	+5.2%	-13.0%
Q1 23	+0.8%	-1.3%
Q2 23	-20.3%	-3.5%
Q3 23	-13.2%	-18.5%
Q4 23	-1.8%	+24.3%
Q1 24	-6.6%	-1.2%
Q2 24	+24.2%	-4.8%
Q3 24	+14.2%	-7.5%
Q4 24	+6.0%	-7.6%
Q1 25	+4.3%	+9.0%
Q2 25	-1.7%	+5.2%
Q3 25	+9.3%	+87.1%

Stock-Based Compensation

Quarter	SBC ($)	% of Revenue
Q4 21	$4M	2.5%
Q1 22	$4M	2.6%
Q2 22	$4M	2.5%
Q3 22	$5M	2.8%
Q4 22	$4M	2.5%
Q1 23	$6M	4.1%
Q2 23	$6M	4.5%
Q3 23	$8M	5.1%
Q4 23	$6M	3.9%
Q1 24	$6M	4.1%
Q2 24	$7M	3.9%
Q3 24	$8M	4.4%
Q4 24	$8M	4.4%
Q1 25	$8M	5.4%
Q2 25	$8M	4.5%
Q3 25	$8M	4.1%

OpEx Breakdown

Quarter	R&D	G&A	S&M	SG&A
Q4 21	$21M	$40M	$62M	—
Q1 22	$21M	$30M	$61M	—
Q2 22	$16M	$27M	$74M	—
Q3 22	$20M	$27M	$86M	—
Q4 22	$18M	$26M	$48M	—
Q1 23	$21M	$28M	$57M	—
Q2 23	$24M	$27M	$60M	—
Q3 23	$23M	$26M	$57M	—
Q4 23	$23M	$26M	$55M	—
Q1 24	$25M	$27M	$60M	—
Q2 24	$26M	$27M	$59M	—
Q3 24	$29M	$15M	$54M	—
Q4 24	$29M	$25M	$55M	—
Q1 25	$27M	$27M	$63M	—
Q2 25	$22M	$28M	$65M	—
Q3 25	$29M	—	—	$180M

Revenue Segments

Quarter

War Chest

Quarter	Cash	Short-term Investments	Total
Q1 22	$116M	$196M	$312M
Q2 22	$173M	$187M	$361M
Q3 22	$111M	$280M	$392M
Q4 22	$93M	$368M	$461M
Q1 23	$58M	$170M	$229M
Q2 23	$25M	$127M	$152M
Q3 23	$95M	$105M	$200M
Q4 23	$75M	$180M	$255M
Q1 24	$63M	$234M	$298M
Q2 24	$52M	$295M	$347M
Q3 24	$32M	$372M	$403M
Q4 24	$69M	$384M	$454M
Q1 25	$116M	$348M	$464M
Q2 25	$145M	$378M	$523M
Q3 25	$151M	$130M	$281M
Q4 25	$128M	$180M	$309M

Shares Outstanding

Quarter	Shares (Diluted)	QoQ Change	YoY Change
Q4 21	55M	+0.4%	+1.5%
Q1 22	61M	+12.6%	+13.3%
Q2 22	61M	-0.0%	+12.2%
Q3 22	55M	-10.4%	+1.3%
Q4 22	62M	+12.8%	+13.9%
Q1 23	62M	+0.6%	+1.7%
Q2 23	55M	-12.7%	-11.2%
Q3 23	55M	+0.2%	-0.8%
Q4 23	55M	+0.8%	-11.3%
Q1 24	56M	+1.0%	-10.9%
Q2 24	56M	+0.2%	+2.2%
Q3 24	56M	+0.5%	+2.6%
Q4 24	56M	+0.8%	+2.6%
Q1 25	56M	-1.1%	+0.4%
Q2 25	57M	+1.4%	+1.6%
Q3 25	57M	-0.2%	+1.0%

Shares Outstanding

Revenue Per Employee

Period	Revenue/Employee	Employees
Q4 21	$276.6K	575
Q1 22	$265.2K	575
Q2 22	$295.7K	575
Q3 22	$308.4K	575
Q4 22	$273.4K	612
Q1 23	$251.2K	612
Q2 23	$221.5K	612
Q3 23	$251.4K	612
Q4 23	$252.0K	652
Q1 24	$220.3K	652
Q2 24	$258.2K	652
Q3 24	$269.5K	652
Q4 24	$258.4K	674
Q1 25	$222.3K	674
Q2 25	$245.5K	674
Q3 25	$285.0K	674

Revenue / Employee