Jazz raises 2026 revenue guidance to $4.78–$4.85B

 

Jazz posts Q3 2026 adjusted loss of $3.88 vs $4.09 expected, beats on $1.24B revenue, raises 2026 revenue guidance to $4.78–$4.85B

• Q3 2026 revenue was $1.243B ($1.24B), up 10% YoY, driven by 35% oncology growth and above analyst estimates.
• Xywav sales grew 12% to $483M with 425 net new patients and strong durability.
• Epidiolex delivered $295M revenue, with YoY growth muted by prior-year gross-to-net and inventory dynamics.
• New HER2+ GEA launch of zanidatamab generated $21M, with rapid community-account adoption.
• Zepzelca sales rose 32% to $104M, but 2027 competition expected to pressure first-line maintenance.
• Company raised 2026 total revenue guidance again to $4.77–$4.85B ($4.775–$4.85 billion), ~13% YoY growth at midpoint.
• Company added a $500M buyback program alongside Q3 2026 results.
• Rare sleep 2026 revenue outlook increased to $2.125–$2.175B on minimal impact from high-sodium generics.
• Non-GAAP gross margin fell 110 bps YoY; a one-time $754M Actio IPR&D charge drove GAAP loss.
• Cash and investments totaled $2.9B after $820M Apio acquisition and $1.25B convertible notes issuance.
• Jazz started a Phase 2 trial of JZP3507 in recurrent meningioma.
• Updated Phase 3 ACTION Modeyso program ahead of data presentations at the SNO 2026 meeting.
• Pipeline catalysts include ABS-1230 data this quarter and ACTION Phase III in 1H 2027.
• Main concern: future competitive pressures on Xywav and Zepzelca could challenge mid-term growth and margins.
• Strong quarter, driven by robust Xywav durability and accelerating oncology launches including zanidatamab.

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