VNDA · Vanda Pharmaceuticals Inc. - Financials
Annual line items from SEC XBRL filings, sourced from EDGAR's Company Facts API with fallback to the quarterly Financial Statement Data Sets. See issuer overview for Form 4 activity and 10-K signals.
Income Statement
| Line item | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $51.72M | - | $56.26M | $52.59M | $50.04M | - | $47.65M | $50.47M | $47.46M | - |
| Cost of Revenue | - | - | - | - | - | - | - | - | - | - |
| Gross Profit | - | - | - | - | - | - | - | - | - | - |
| R&D | $28.43M | - | $22.56M | $21.99M | $35.71M | - | $16.78M | $16.66M | $21.15M | - |
| SG&A | $68.36M | - | $60.27M | $64.62M | $50.08M | - | $37.57M | $39.47M | $30.09M | - |
| Total Operating Expenses | $101.94M | - | $87.54M | $91.09M | $91.07M | - | $58.65M | $60.62M | $56.70M | - |
| D&A | $273.0K | - | - | - | $231.0K | - | - | - | $206.0K | - |
| Operating Income | ($50.22M) | - | ($31.28M) | ($38.50M) | ($41.03M) | - | ($11.00M) | ($10.15M) | ($9.23M) | - |
| Interest Expense | - | - | - | - | - | - | - | - | - | - |
| Income Tax | $143.0K | - | ($5.80M) | ($7.68M) | ($7.87M) | - | ($920.0K) | ($998.0K) | ($518.0K) | - |
| Net Income | ($48.57M) | - | ($22.59M) | ($27.21M) | ($29.49M) | - | ($5.32M) | ($4.52M) | ($4.15M) | - |
| EPS - Basic | ($0.82) | - | ($0.38) | ($0.46) | ($0.50) | - | ($0.09) | ($0.08) | ($0.07) | - |
| EPS - Diluted | ($0.82) | - | ($0.38) | ($0.46) | ($0.50) | - | ($0.09) | ($0.08) | ($0.07) | - |
Balance Sheet
| Line item | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash & Equivalents | $54.03M | $84.85M | $70.02M | $80.98M | $111.80M | $102.32M | $100.50M | $102.95M | $125.16M | $135.82M |
| Accounts Receivable | $56.88M | $54.58M | $50.54M | $44.99M | $44.60M | $47.10M | $42.75M | $41.86M | $36.71M | $34.16M |
| Inventory | $1.70M | $1.85M | $2.04M | $2.17M | $1.92M | $1.73M | $1.61M | $1.47M | $1.50M | $1.36M |
| Accounts Payable | - | - | - | - | - | - | - | - | - | - |
| Current Assets | $293.17M | $347.26M | $367.50M | $394.92M | $407.91M | $438.89M | $432.39M | $439.18M | $439.43M | $432.95M |
| Total Assets | $433.52M | $488.95M | $601.14M | $624.75M | $631.94M | $656.20M | $645.12M | $651.37M | $652.68M | $648.44M |
| Current Liabilities | $135.58M | $145.16M | $117.87M | $121.49M | $103.92M | $99.98M | $89.09M | $93.79M | $93.34M | $87.70M |
| Long-term Debt | - | - | - | - | - | - | - | - | - | - |
| Total Liabilities | $152.76M | $161.76M | $135.14M | $138.42M | $120.52M | $117.66M | $103.89M | $108.86M | $108.69M | $103.53M |
| Stockholders' Equity | $280.76M | $327.19M | $466.00M | $486.33M | $511.42M | $538.55M | $541.22M | $542.52M | $544.00M | $544.91M |
| Retained Earnings | ($443.33M) | ($394.77M) | ($253.58M) | ($230.99M) | ($203.79M) | ($174.29M) | ($169.38M) | ($164.06M) | ($159.54M) | ($155.39M) |
Cash Flow
| Line item | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | ($50.22M) | - | - | - | ($33.15M) | - | - | - | $7.57M | - |
| Investing Cash Flow | $20.23M | - | - | - | $43.90M | - | - | - | ($18.22M) | - |
| Financing Cash Flow | ($776.0K) | - | - | - | $0 | - | - | - | - | - |
| CapEx | $221.0K | - | - | - | $436.0K | - | - | - | $7.0K | - |
| Free Cash Flow | ($50.44M) | - | - | - | ($33.58M) | - | - | - | $7.56M | - |
Ratios
| Metric | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 |
|---|---|---|---|---|---|---|---|---|---|---|
| Profitability | ||||||||||
| Gross margin | - | - | - | - | - | - | - | - | - | - |
| Operating margin | -97.1% | - | -55.6% | -73.2% | -82.0% | - | -23.1% | -20.1% | -19.5% | - |
| EBITDA margin | -96.6% | - | - | - | -81.5% | - | - | - | -19.0% | - |
| Net margin | -93.9% | - | -40.1% | -51.7% | -58.9% | - | -11.2% | -9.0% | -8.7% | - |
| Free cash flow margin | -97.5% | - | - | - | -67.1% | - | - | - | 15.9% | - |
| FCF / Net income | 1.04 | - | - | - | 1.14 | - | - | - | -1.82 | - |
| R&D / Revenue | 55.0% | - | 40.1% | 41.8% | 71.4% | - | 35.2% | 33.0% | 44.6% | - |
| SG&A / Revenue | 132.2% | - | 107.1% | 122.9% | 100.1% | - | 78.9% | 78.2% | 63.4% | - |
| Effective tax rate | - | - | - | - | - | - | - | - | - | - |
| Return on assets | -11.2% | - | -3.8% | -4.4% | -4.7% | - | -0.8% | -0.7% | -0.6% | - |
| Return on equity | -17.3% | - | -4.8% | -5.6% | -5.8% | - | -1.0% | -0.8% | -0.8% | - |
| Return on invested capital | - | - | - | - | - | - | - | - | - | - |
| Liquidity | ||||||||||
| Current ratio | 2.16 | 2.39 | 3.12 | 3.25 | 3.93 | 4.39 | 4.85 | 4.68 | 4.71 | 4.94 |
| Quick ratio | 2.15 | 2.38 | 3.10 | 3.23 | 3.91 | 4.37 | 4.84 | 4.67 | 4.69 | 4.92 |
| Cash ratio | 0.40 | 0.58 | 0.59 | 0.67 | 1.08 | 1.02 | 1.13 | 1.10 | 1.34 | 1.55 |
| Leverage | ||||||||||
| Debt / Equity | - | - | - | - | - | - | - | - | - | - |
| Debt / Assets | - | - | - | - | - | - | - | - | - | - |
| Debt / EBITDA | - | - | - | - | - | - | - | - | - | - |
| Interest coverage | - | - | - | - | - | - | - | - | - | - |
| Equity multiplier | 1.54 | 1.49 | 1.29 | 1.28 | 1.24 | 1.22 | 1.19 | 1.20 | 1.20 | 1.19 |
| Liabilities / Assets | 0.35 | 0.33 | 0.22 | 0.22 | 0.19 | 0.18 | 0.16 | 0.17 | 0.17 | 0.16 |
| Efficiency | ||||||||||
| Asset turnover | 0.12 | - | 0.09 | 0.08 | 0.08 | - | 0.07 | 0.08 | 0.07 | - |
| Inventory turnover | - | - | - | - | - | - | - | - | - | - |
| Days sales outstanding | 401d | - | 328d | 312d | 325d | - | 327d | 303d | 282d | - |
| Days inventory outstanding | - | - | - | - | - | - | - | - | - | - |
| Days payable outstanding | - | - | - | - | - | - | - | - | - | - |
| Cash conversion cycle | - | - | - | - | - | - | - | - | - | - |
| Valuation | ||||||||||
| P / E | - | - | - | - | - | - | - | - | - | - |
| P / B | 1.5x | - | 0.6x | 0.6x | 0.5x | - | 0.5x | 0.6x | 0.4x | - |
| P / S | 7.9x | - | 5.2x | 5.3x | 5.4x | - | 5.7x | 6.5x | 5.0x | - |
| EV / EBITDA | - | - | - | - | - | - | - | - | - | - |
| Growth | ||||||||||
| Revenue growth (YoY) | 3.4% | - | 18.1% | 4.2% | 5.4% | - | 22.8% | 9.6% | -24.1% | - |
| Revenue CAGR (3y) | -6.1% | - | -4.9% | -6.5% | -6.0% | - | -12.1% | -9.4% | -8.8% | - |
| Revenue CAGR (5y) | -3.8% | - | -1.4% | -3.3% | -2.9% | - | -4.3% | -3.1% | -0.1% | - |
| Gross profit growth (YoY) | - | - | - | - | - | - | - | - | - | - |
| Operating income growth (YoY) | -22.4% | - | -184.4% | -279.5% | -344.3% | - | -83.5% | -253.9% | - | - |
| Net income growth (YoY) | -64.7% | - | -324.2% | -502.2% | -611.4% | - | - | - | - | - |
| EPS growth (YoY) | -64.0% | - | -322.2% | -475.0% | -614.3% | - | - | - | - | - |
| EPS CAGR (3y) | - | - | - | - | - | - | - | - | - | - |
| EPS CAGR (5y) | - | - | - | - | - | - | - | - | - | - |
| FCF growth (YoY) | -50.2% | - | - | - | - | - | - | - | -76.2% | - |
| FCF CAGR (5y) | - | - | - | - | - | - | - | - | -3.9% | - |
| Book value growth (YoY) | -45.1% | -39.2% | -13.9% | -10.4% | -6.0% | -1.2% | -0.3% | 0.5% | 1.5% | 3.4% |
Sales by segment
From XBRL dimensional facts in the 10-K period ending 2025-12-31.
Business segments
$216.10M totalProduct Segment$216.10M · 100.0%
Product / service
$216.10M totalFanapt$117.30M · 54.3%
Hetlioz$71.43M · 33.1%
PONVORY$27.37M · 12.7%
Peer comparison
Same SIC group: Pharmaceutical Preparations
Comparing Vanda Pharmaceuticals Inc. against the 5 most active filers in the same SIC group.