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Financials · VNDA

Vanda Pharmaceuticals Inc. (VNDA) financials

For the twelve months ended Sep 30, 2026, Vanda Pharmaceuticals Inc. reported $229.28M of revenue and -$274.83M of net income.

Revenue, TTM
$229.28M
Revenue growth, YoY
+8.1%
Net income, TTM
-$274.83M
Net margin
-119.9%
Free cash flow, TTM
-$139.96M
EPS, diluted, TTM
-$4.63
Cash
$61.93M
P/S
1.08
Market cap
$247.3M
Annual revenue$216.10M
FY2016FY2025
Annual net income-$220.47M
FY2016FY2025
Annual free cash flow-$110.44M
FY2016FY2025

VNDA revenue and earnings growth

VNDA revenueQ3 2026$69.81M

Quarter YoY
+24.1%
QoQ
+38.2%
FY YoY
+8.7%
5Y CAGR
-2.7%
10Y CAGR
+7.0%

VNDA revenue was $69.81M in fiscal Q3 2026 (ended Sep 30, 2026), up 24.1% from a year earlier and up 38.2% from the prior quarter. For the full fiscal 2025 it was $216.10M, up 8.7% from fiscal 2024. Compound annual growth was -2.7% over 5 years and +7.0% over 10 years. It rose in 8 of the last 10 fiscal years.

VNDA net incomeQ3 2026-$22.56M

VNDA net income was -$22.56M in fiscal Q3 2026 (ended Sep 30, 2026), compared with -$22.59M a year earlier. For the full fiscal 2025 it was -$220.47M, compared with -$18.90M in fiscal 2024.

VNDA EPSQ3 2026-$0.37

VNDA diluted EPS was -$0.37 in fiscal Q3 2026 (ended Sep 30, 2026), compared with -$0.38 a year earlier. For the full fiscal 2025 it was -$3.74, compared with -$0.33 in fiscal 2024.

VNDA free cash flowQ3 2026-$28.75M

VNDA free cash flow was -$28.75M in fiscal Q3 2026 (ended Sep 30, 2026), compared with -$31.79M a year earlier. For the full fiscal 2025 it was -$110.44M, compared with -$16.25M in fiscal 2024.

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Income statement

Income statement
Line item
FY2025
Dec 31, 2025
FY2024
Dec 31, 2024
FY2023
Dec 31, 2023
FY2022
Dec 31, 2022
FY2021
Dec 31, 2021
FY2020
Dec 31, 2020
FY2019
Dec 31, 2019
FY2018
Dec 31, 2018
FY2017
Dec 31, 2017
FY2016
Dec 31, 2016
Revenue$216.10M$198.77M$192.64M$254.38M$268.68M$248.17M$227.19M$193.12M$165.08M$146.02M
Research and development$109.27M$74.43M$76.82M$85.77M$75.36M$55.58M$48.65M$43.59M$38.55M$29.16M
Selling, general and admin$237.95M$146.41M$112.88M$136.49M$124.05M$140.51M$129.74M$105.75M$123.84M$99.79M
Operating income-$151.17M-$40.66M-$13.95M$6.33M$42.16M$27.24M$22.81M$21.74M-$16.90M-$18.57M
Pre-tax income-$138.65M-$22.92M$6.34M$11.30M$42.36M$31.66M$29.03M$25.35M-$15.43M-$17.91M
Income tax$81.83M-$4.02M$3.83M$5.03M$9.21M$8.32M-$86.53M$138.0K$136.0K$104.0K
Net income-$220.47M-$18.90M$2.51M$6.28M$33.15M$23.34M$115.55M$25.21M-$15.57M-$18.01M
EPS, basic-$3.74-$0.33$0.04$0.11$0.60$0.43$2.17$0.50-$0.35-$0.41
EPS, diluted-$3.74-$0.33$0.04$0.11$0.58$0.42$2.11$0.48-$0.35-$0.41
Diluted shares58.9M58.1M57.6M57.0M56.9M55.2M54.8M53.0M44.7M43.4M

Balance sheet

Balance sheet
Line item
FY2025
Dec 31, 2025
FY2024
Dec 31, 2024
FY2023
Dec 31, 2023
FY2022
Dec 31, 2022
FY2021
Dec 31, 2021
FY2020
Dec 31, 2020
FY2019
Dec 31, 2019
FY2018
Dec 31, 2018
FY2017
Dec 31, 2017
FY2016
Dec 31, 2016
Cash and equivalents$84.85M$102.78M$136.29M$135.50M$52.59M$61.61M$45.65M$61.75M$34.34M$41.26M
Receivables$54.58M$47.10M$34.16M$33.51M$32.47M$30.04M$26.37M$28.78M$17.60M$20.27M
Inventory$1.85M$1.73M$1.36M$1.19M$1.02M$1.28M$1.14M$994.0K$840.0K$779.0K
Current assets$347.26M$438.89M$432.95M$519.29M$478.30M$409.14M$354.14M$299.13M$169.86M$174.18M
Total assets$488.95M$656.20M$648.44M$634.25M$593.79M$533.46M$483.75M$332.13M$205.43M$210.37M
Current liabilities$145.16M$99.98M$87.70M$91.44M$74.42M$65.94M$59.51M$53.02M$70.36M$50.32M
Total liabilities$161.76M$117.66M$103.53M$107.05M$88.86M$80.19M$72.80M$56.71M$74.04M$79.04M
Shareholders' equity$327.19M$538.55M$544.91M$527.20M$504.93M$453.27M$410.94M$275.42M$131.39M$131.33M

Cash flow

Cash flow
Line item
FY2025
Dec 31, 2025
FY2024
Dec 31, 2024
FY2023
Dec 31, 2023
FY2022
Dec 31, 2022
FY2021
Dec 31, 2021
FY2020
Dec 31, 2020
FY2019
Dec 31, 2019
FY2018
Dec 31, 2018
FY2017
Dec 31, 2017
FY2016
Dec 31, 2016
Operating cash flow-$109.44M-$15.76M$12.80M$31.98M$64.21M$51.77M$45.95M$29.99M-$1.98M-$8.10M
Capital expenditures$998.0K$490.0K$383.0K$679.0K$552.0K$1.79M$1.02M$368.0K$1.66M$1.41M
Free cash flow-$110.44M-$16.25M$12.42M$31.30M$63.66M$49.98M$44.93M$29.62M-$3.65M-$9.51M
Investing cash flow$94.86M-$17.43M-$12.06M$49.92M-$76.70M-$41.50M-$68.31M-$109.66M-$10.23M-$10.03M
Financing cash flow-$2.91M-$155.0K$0$734.0K$3.55M$5.63M$6.26M$107.13M$5.25M$7.75M
Stock-based compensation$9.47M$12.43M$14.04M$16.28M$15.37M$13.36M$13.46M$11.67M$10.46M$8.54M

Key ratios

Key ratios
Line item
FY2025
Dec 31, 2025
FY2024
Dec 31, 2024
FY2023
Dec 31, 2023
FY2022
Dec 31, 2022
FY2021
Dec 31, 2021
FY2020
Dec 31, 2020
FY2019
Dec 31, 2019
FY2018
Dec 31, 2018
FY2017
Dec 31, 2017
FY2016
Dec 31, 2016
Revenue growth, YoY8.7%3.2%-24.3%-5.3%8.3%9.2%17.6%17.0%13.1%32.8%
Net income growth, YoY---60.0%-81.1%42.1%-79.8%358.4%---
EPS growth, YoY---63.6%-81.0%38.1%-80.1%339.6%---
Operating margin-70.0%-20.5%-7.2%2.5%15.7%11.0%10.0%11.3%-10.2%-12.7%
Net margin-102.0%-9.5%1.3%2.5%12.3%9.4%50.9%13.1%-9.4%-12.3%
Free cash flow margin-51.1%-8.2%6.4%12.3%23.7%20.1%19.8%15.3%-2.2%-6.5%
Return on equity-67.4%-3.5%0.5%1.2%6.6%5.1%28.1%9.2%-11.8%-13.7%
Return on assets-45.1%-2.9%0.4%1.0%5.6%4.4%23.9%7.6%-7.6%-8.6%
Current ratio2.394.394.945.686.436.215.955.642.413.46

Source: XBRL data Vanda Pharmaceuticals Inc. files with the SEC, latest filing dated Oct 29, 2026 (see filings on SEC EDGAR). Provided for information only, not investment advice. Check the filing before relying on a number.

* Worked out from the filings rather than stated in them: Q4 is the full year less the first nine months.

Per-share figures are as filed. The filings show no stock split in these periods.

EPS growth is left out where the share count moved enough to suggest a split the filings do not show. Growth rates need a positive starting figure. CAGR is compound annual growth between fiscal years. The CSV holds every period on file, in full figures, from the same SEC filings.

VNDA peers

CompanyRevenueGrowthNet incomeNet marginMarket cap
VNDA$229.28M+8.1%-$274.83M-119.9%$247.3M
LLY$86.46B+45.5%$27.58B31.9%$1.33T
JNJ$99.33B+7.8%$16.09B16.2%$679.13B
ABBV$66.01B+10.7%$10.34B15.7%$518.44B
MRK$67.38B+4.9%$2.45B3.6%$366.73B
NVS$54.53B+8.4%$13.98B25.6%$312.35B
AZN$58.74B+8.6%$10.22B17.4%$293.69B
ABT$48.23B+10.0%$4.70B9.7%$191.40B
NVODKK 309.06B+6.4%DKK 102.43B33.1%$183.23B

VNDA FAQ

8 questions
  • What is VNDA revenue?
    Vanda Pharmaceuticals Inc. (VNDA) reported $229.28M of revenue for the twelve months ended Sep 30, 2026. That is up 8.1% from the year before. Revenue for fiscal 2025 was $216.10M.
  • Is VNDA profitable?
    No. Vanda Pharmaceuticals Inc. reported a net loss of $274.83M for the twelve months ended Sep 30, 2026.
  • How much cash and debt does VNDA have?
    Vanda Pharmaceuticals Inc. reported $61.93M in cash and cash equivalents on its most recent balance sheet in SEC filings.
  • How fast is VNDA revenue growing?
    Vanda Pharmaceuticals Inc.'s revenue changed +8.7% in fiscal 2025, to $216.10M. Its compound annual growth rate was -2.7% over 5 years and +7.0% over 10 years.
  • What is VNDA free cash flow?
    Vanda Pharmaceuticals Inc. generated -$139.96M of free cash flow for the twelve months ended Sep 30, 2026, which is operating cash flow of -$139.14M less capital expenditures.
  • What is VNDA earnings per share?
    Diluted earnings per share were -$4.63 for the twelve months ended Sep 30, 2026, from SEC filings, restated for any stock split those filings show.
  • When did VNDA last report financial results?
    The latest statements here come from Vanda Pharmaceuticals Inc.'s 10-Q filed on Oct 29, 2026, covering the period ended Sep 30, 2026.
  • Where does this VNDA financial data come from?
    Quantisnow builds these statements from the structured XBRL data Vanda Pharmaceuticals Inc. files with the SEC. It is provided for information only and is not investment advice.