MannKind Corporation ((MNKD)) has held its Q3 earnings call. Read on for the main highlights of the call.
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MannKind Corporation’s recent earnings call painted a picture of robust growth and strategic expansion, despite some challenges. The company reported strong revenue performance, largely driven by Tyvaso DPI and Afrezza, and highlighted strategic growth initiatives such as the acquisition of scPharmaceuticals. Although there were challenges like a decline in VGo revenue and increased SG&A expenses, the positive aspects of revenue growth and strategic acquisitions were more prominent.
Record Revenue in Q3 2025
MannKind Corporation achieved a record revenue quarter, reporting $82 million. This impressive figure was primarily driven by the strong performance of Tyvaso DPI and Afrezza, showcasing the company’s ability to capitalize on its key products.
Acquisition of scPharmaceuticals
The completion of the acquisition of scPharmaceuticals marks a significant milestone for MannKind. This strategic move is set to enhance the company’s portfolio and expand its reach into cardiorenal medicine, positioning it for further growth.
Strong Performance of Tyvaso DPI
Tyvaso DPI stood out with $33 million in royalties and $26 million in manufacturing-related revenue, marking its highest revenue quarter to date. This performance underscores the product’s growing importance in MannKind’s portfolio.
FUROSCIX Revenue Growth
FUROSCIX demonstrated remarkable growth, with revenue reaching $47.1 million year-to-date, a 95% increase over the same period in 2024. The product saw over 27,000 doses dispensed in Q3 2025, up 153% from the previous year, highlighting its increasing adoption.
Afrezza Prescription Growth
Afrezza experienced a 31% increase in new prescriptions and a 27% increase in total prescriptions year-over-year. This growth translated into a 23% increase in net revenue for Q3 2025 compared to Q3 2024, reflecting its expanding market presence.
VGo Revenue Decline
Despite overall growth, VGo revenue declined by 19% to $3.8 million in Q3. This decrease is attributed to the company’s decision to no longer actively promote the product, focusing resources elsewhere.
High SG&A Expenses
The company reported a 22% increase in selling, general, and administrative expenses, amounting to an additional $5.2 million. This rise was driven by investments in Afrezza and acquisition-related expenses, reflecting the company’s strategic focus on growth.
GAAP Net Income Decrease
Despite strong revenue growth, GAAP net income decreased to $8 million from $11.6 million in the prior year. This decline highlights the impact of increased expenses on the company’s bottom line.
Forward-Looking Guidance
Looking ahead, MannKind Corporation is optimistic about its growth trajectory. The company aims to enhance its portfolio with the recent acquisition of scPharmaceuticals and is focusing on expanding its Technosphere technology applications. With a 17% revenue growth over the prior year and a non-GAAP net income of $22.4 million, MannKind is poised for continued operational success, despite increased investments in growth drivers.
In summary, MannKind Corporation’s earnings call reflected a positive sentiment, driven by record revenue and strategic acquisitions. While challenges such as increased expenses and a decline in VGo revenue were noted, the company’s strong performance in key areas like Tyvaso DPI and Afrezza, along with its forward-looking strategies, underscore its potential for sustained growth.