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Corcept Therapeutics CORT

Corcept Therapeutics reports $340.47 million revenue for Q3 2026

Form
10-Q
Filed
Importance
Notable
  1. Revenue: $340.47 million for the three months ended Sep 30, 2026
  2. Net income: $126.78 million for the three months ended Sep 30, 2026
  3. Diluted EPS: $1.01 for the three months ended Sep 30, 2026
  4. Cash and equivalents: $98.72 million at Sep 30, 2026

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The reading, claim by claim

  1. Its basic net income per common share was $1.17, and diluted net income per common share was $1.01.
  2. The company's total assets were $1.034 billion as of September 30, 2026, according to its balance sheet.
  3. Total liabilities were $200.287 million, and stockholders' equity was $833.74 million.
  4. The company's cash and cash equivalents were $98.72 million as of that date.
  5. In its 10-Q for the quarter ended September 30, 2026, CORCEPT THERAPEUTICS INC reported revenue of $340.5 million.
  6. The company's net income was $126.8 million for the quarter.

6 of 6 claims matched the filing text.

From the filing's financial data, not stated in its text

From this 10-Q's financial data (XBRL) for the quarter ended September 30, 2026

  • Its revenue increased by 64.0% compared to the same period a year earlier.

From the filing

ITEM 1. FINANCIAL STATEMENTS (UNAUDITED)

ITEM 1. FINANCIAL STATEMENTS (UNAUDITED) CORCEPT THERAPEUTICS INCORPORATED CONDENSED CONSOLIDATED BALANCE SHEETS

(In thousands)

September 30,

2026 December 31,

2025

(Unaudited) (See Note 1)

ASSETS

Current assets:

Cash and cash equivalents $ 98,7204 $ 120,495 Short-term marketable securities 271,983 251,657

Trade receivables, net of allowances 111,061 59,786

Inventory 11,907 12,868

Prepaid expenses and other current assets 40,203 40,658

Total current assets 533,874 485,464 Strategic inventory 25,662 11,094

Operating lease right-of-use asset 6,517 4,583

Property and equipment, net 4,939 1,890 Long-term marketable securities 291,604 160,270 Other assets 2,362 5,153 Deferred tax assets, net 169,069 168,197 Total assets $ 1,034,0272 $ 836,651

LIABILITIES AND STOCKHOLDERS' EQUITY

Current liabilities:

Accounts payable $ 21,924 $ 40,444

Accrued research and development expenses 18,049 33,954

Accrued and other liabilities 135,678 90,603

Short-term operating lease liability 2,024 1,084

Total current liabilities 177,675 166,085

Long-term operating lease liability 6,967 5,023

Long-term accrued government rebates — 2,562

Long-term accrued income taxes 15,645 15,176

Total liabilities 200,2873 188,846

Commitments and contingencies (Note 4)

Stockholders' equity:

Preferred stock — —

Common stock 144 140 Treasury stock ( 1,065,705 ) ( 966,586 ) Additional paid-in capital 1,119,415 968,600

Accumulated other comprehensive (loss) income ( 1,505 ) 2,264

Retained earnings 781,391 643,387 Total stockholders' equity 833,7403 647,805

Total liabilities and stockholders' equity $ 1,034,027 $ 836,651

The accompanying notes are an integral part of these condensed consolidated financial statements.

3

CORCEPT THERAPEUTICS INCORPORATED CONDENSED CONSOLIDATED STATEMENTS OF INCOME

(Unaudited)

(In thousands, except per share data)

Three Months Ended September 30, Nine Months Ended September 30,

2026 2025 2026 2025 Product revenue, net 340,4725 207,638 761,522 559,282 Operating expenses: Cost of sales 4,608 4,596 11,552 10,432 Research and development 56,709 68,846 176,864 190,052 Selling, general and administrative 164,431 123,977 466,683 318,488 Total operating expenses 225,748 197,419 655,099 518,972 Income from operations 114,724 10,219 106,423 40,310 Interest and other income 5,583 5,024 15,100 16,243 Income before income taxes 120,307 15,243 121,523 56,553 Income tax benefit 6,471 4,425 16,481 18,811 Net income 126,7786 19,668 138,004 75,364 Net income attributable to common stockholders 124,489 19,359 135,459 74,267 Basic net income per common share $ 1.171 $ 0.19 $ 1.28 $ 0.71 Diluted net income per common share $ 1.011 $ 0.16 $ 1.13 $ 0.62

Weighted-average shares outstanding used in computing net income per common share

Basic 106,628 103,545 105,488 103,919 Diluted 123,201 119,439 119,407 119,981

The accompanying notes are an integral part of these condensed consolidated financial statements.

4

CORCEPT THERAPEUTICS INCORPORATED CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME

(Unaudited)

(In thousands)

Three Months Ended September 30, Nine Months Ended September 30,

2026 2025 2026 2025 Net income 126,778 19,668 138,004 75,364 Other comprehensive income: Unrealized (loss) gain on available-for-sale investments, net of tax effect of $ 0 , $( 116 ), $ 253 and $( 270 ), respectively ( 2,019 ) 370 ( 3,597 ) 1,084 Foreign currency translation gain (loss) 78 ( 320 ) ( 172 ) 1,474 Total comprehensive income $ 124,837 $ 19,718 $ 134,235 $ 77,922

The accompanying notes are an integral part of these condensed consolidated financial statements.

5

CORCEPT THERAPEUTICS INCORPORATED CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS

(Unaudited)

(In thousands)

Nine Months Ended September 30,

2026 2025 Cash flows from operating activities: Net income $ 138,004 $ 75,364

Adjustments to reconcile net income to net cash provided by operating activities:

Stock-based compensation 81,902 63,732

Accretion of marketable securities, net ( 2,263 ) ( 4,010 )

Depreciation and amortization 2,487 1,408 Deferred income taxes ( 618 ) ( 22,355 ) Changes in operating assets and liabilities: Trade receivables ( 51,275 ) ( 15,653 ) Inventory ( 12,595 ) ( 7,964 )

Prepaid expenses and other current assets 2,396 ( 17,132 )

Accounts payable ( 18,535 ) 19,070

Accrued research and development expenses ( 15,905 ) ( 5,546 )

Accrued and other liabilities, current and non-current 36,064 16,634

Net cash provided by operating activities 159,662 103,548

Cash flows from investing activities:

Purchases of property and equipment ( 3,438 ) ( 161 )

Proceeds from sales and maturities of marketable securities 216,352 257,536

Purchases of marketable securities ( 369,600 ) ( 175,774 )

Net cash (used in) provided by investing activities ( 156,686 ) 81,601

Cash flows from financing activities:

Proceeds from stock option exercises, net of issuance costs 26,689 13,008

Proceeds from purchases under the Employee Stock Purchase Plan ("ESPP") 9,059 7,160

Repurchases of common stock in connection with Stock Repurchase Program ( 5,745 ) ( 172,915 )

Cash paid to satisfy statutory withholding requirement for net settlement of cashless option exercises and vesting of restricted stock grants ( 55,165 ) ( 36,403 )

Net cash used in financing activities ( 25,162 ) ( 189,150 )

Net effect of exchange rate changes on cash, cash equivalents and restricted cash ( 172 ) 1,474

Net decrease in cash, cash equivalents and restricted cash ( 22,358 ) ( 2,527 )

Cash, cash equivalents and restricted cash, at beginning of period 121,745 128,665

Cash, cash equivalents and restricted cash, at end of period $ 99,387 $ 126,138

Supplemental disclosure:

Exercise cost of shares repurchased for net settlement of cashless option exercises $ 38,554 $ 17,799

Reconciliation of cash, cash equivalents and restricted cash

Cash and cash equivalents $ 98,720 $ 125,138

Restricted cash included in Other assets 667 1,000

Cash, cash equivalents and restricted cash, at end of period $ 99,387 $ 126,138

The accompanying notes are

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