MannKind(MNKD) - 2025 Q3 - Quarterly Results

Revenue Performance - Q3 2025 revenues reached $82.1 million, a 17% increase compared to Q3 2024[4] - Year-to-date 2025 revenues totaled $237.0 million, reflecting a 14% increase versus the same period in 2024[10] - Afrezza's revenue for Q3 2025 was $18.5 million, up 23% from $15.0 million in Q3 2024[9] - Total revenues for the three months ended September 30, 2025, were $82.13 million, a 17.2% increase from $70.08 million in the same period of 2024[23] - Commercial product sales reached $22.31 million for the three months ended September 30, 2025, compared to $19.73 million in 2024, reflecting a 13.1% growth[23] Expenses - Research and development expenses increased by $1.1 million, or 9%, in Q3 2025 compared to the prior year[8] - Selling, general and administrative expenses rose by $5.2 million, or 22%, in Q3 2025 due to higher headcount and acquisition-related costs[12] - Research and development expenses for the three months ended September 30, 2025, were $14.06 million, an increase from $12.93 million in 2024, reflecting a 8.8% rise[23] - The company incurred acquisition-related expenses of $3.67 million during the three months ended September 30, 2025, associated with the acquisition of scPharma[29] Net Income - Net income for Q3 2025 was $8.0 million, down from $11.6 million in Q3 2024[12] - Non-GAAP net income for Q3 2025 increased by 45% to $22.4 million compared to $15.4 million in Q3 2024[12] - Net income for the three months ended September 30, 2025, was $7.99 million, down from $11.55 million in 2024, representing a 30.5% decrease[23] - Non-GAAP net income for the three months ended September 30, 2025, was $22.45 million, compared to $15.35 million in 2024, a 46.5% increase[28] - The company reported a basic net income per share of $0.03 for the three months ended September 30, 2025, down from $0.04 in 2024[23] Assets and Liabilities - Cash, cash equivalents, and investments totaled $286.3 million as of September 30, 2025[9] - Cash and cash equivalents increased to $127.39 million as of September 30, 2025, from $46.34 million at the end of 2024[25] - Total assets rose to $494.64 million as of September 30, 2025, compared to $393.84 million at the end of 2024, marking a 25.6% increase[25] - Total liabilities increased to $539.19 million as of September 30, 2025, up from $472.66 million at the end of 2024, indicating a 14.0% rise[25] Acquisition - The acquisition of scPharmaceuticals was completed on October 7, 2025, expected to diversify and accelerate revenue growth[5] Regulatory Updates - The FDA accepted the sBLA for Afrezza in the pediatric population, with a PDUFA date set for May 29, 2026[3]