Vanda Pharmaceuticals Inc. (VNDA)

Vanda Pharmaceuticals’ results trailed consensus on both the top and bottom line, as revenue missed estimates despite only a modest year-over-year dip; the company’s second fiscal quarter of 2026, reported August 5, 2026, generated revenue down 3.9% to about $50.5 million (from about $52.6 million a year ago) while EPS of -$1.04 trailed the -$0.58 estimate by -$0.46, and revenue of $50.5 million trailed the $61.9 million estimate (-18.4%). Gross profit came in at roughly $47.0 million, with gross margin near 93%, but operating income was -about $63.8 million and operating margin was around -126%, pointing to operating costs outweighing the quarter’s gross profit base. Net income was down 129.8% year over year to roughly -$62.5 million (versus about -$27.2 million a year ago), alongside EPS down 126.1% from -$0.46. The company’s marketed portfolio includes HETLIOZ and Fanapt. For the next period, consensus calls for EPS of -$0.72 on revenue of $69.3 million.