Amarin Corporation plc (NASDAQ: AMRN) announced financial results for the third quarter ended September 30, 2026, reporting its first profitable quarter in over two years. The company reported total net revenue of $39.6 million for Q3 2026, a 20% decrease compared to the same period in 2025. Despite the revenue decline, the company achieved a net income of $0.2 million, resulting in a net margin of 1%, and an operating margin of negative 6%.
Operating expenses were reduced by 44% year-over-year to $18.5 million, driven by the completion of a $70 million cost savings initiative and lower selling, general, and administrative costs. The company also reported positive free cash flow for the fourth consecutive quarter, with net cash provided by operating activities reaching $9.2 million.
On a geographic basis, U.S. product revenue decreased by 30% to $28.5 million, attributed to lower net pricing due to generic competition. Conversely, revenue from the Rest of World (ROW) increased by 29% to $4.7 million. Licensing and royalty revenue rose 139% to $2.7 million, reflecting increased partner sales.
Internationally, Amarin has partnered with Recordati S.p.A. to commercialize its drug VAZKEPA. As of September 30, 2026, the drug was available in 22 countries, including 11 in Europe. In-market demand for VAZKEPA increased by an estimated 68% in Q3 2026 compared to the prior year, with significant growth in Spain, the UK, and Italy. The company expects this demand to continue growing sequentially.
In the United States, Amarin maintained a leading market share of 47% for IPE products in Q3 2026. The company expects U.S. volumes to remain broadly stable for the remainder of fiscal year 2026. Additionally, Amarin highlighted findings from the EPA for Metastasis Trial 2 (EMT2), sponsored by the University of Leeds, which suggested potential new therapeutic applications for VASCEPA in colorectal cancer liver metastases.
