The company has achieved significant commercial momentum, with revenue scaling to $250.7M in 2026Q1 while maintaining high pricing power through a 91.4% gross margin.
| Metric | TTM | Dec'25 | Dec'24 | Dec'23 | Dec'22 | Dec'21 | Dec'20 | Dec'19 | Dec'18 | Dec'17 | Dec'16 | Dec'15 | Dec'14 | Dec'13 | Dec'12 |
|---|
| Sales/Revenue | 867.51M | 691.71M | 363.64M | 266.72M | 51.17M | 7.78M | 6.95M | 13.38M | 10.58M | 1.53M | 4.61M | 8.12M | 13.98M | 20.41M | 15.58M |
| Revenue Growth % | 135.29% | 90.22% | 36.34% | 421.2% | 557.93% | 11.87% | -48.02% | 26.41% | 591.57% | -66.78% | -43.26% | -41.94% | -31.48% | 30.96% | - |
| Cost of Goods Sold | 102.62M | 103.18M | 44.26M | 44.4M | 12.14M | 3.52M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| COGS % of Revenue | - | 14.92% | 12.17% | 16.64% | 23.72% | 45.29% | - | - | - | - | - | - | - | - | - |
| Gross Profit | 764.89M | 588.53M | 319.38M | 222.32M | 39.04M | 4.25M | 6.95M | 13.38M | 10.58M | 1.53M | 4.61M | 8.12M | 13.98M | 20.41M | 15.58M |
| Gross Margin % | 88.17% | 85.08% | 87.83% | 83.36% | 76.28% | 54.71% | 100% | 100% | 100% | 100% | 100% | 100% | 100% | 100% | 100% |
| Gross Profit Growth % | - | 84.27% | 43.66% | 469.52% | 817.44% | -38.8% | -48.02% | 26.41% | 591.57% | -66.78% | -43.26% | -41.94% | -31.48% | 30.96% | - |
| Operating Expenses | 771.82M | 719.42M | 598.15M | 677.86M | 600.85M | 456.05M | 337.57M | 240.09M | 165.34M | 113.07M | 77.53M | 49.94M | 25.97M | 15.13M | 14.07M |
| OpEx % of Revenue | - | 104.01% | 164.49% | 254.15% | 1174.13% | 5863.29% | 4855.07% | 1795.1% | 1562.59% | 7390.26% | 1683.15% | 615.21% | 185.74% | 74.13% | 90.29% |
| Selling, General & Admin | 496.78M | 435.92M | 284.55M | 258.79M | 215.85M | 160.18M | 76.67M | 48.47M | 25.06M | 13.48M | 11.5M | 9.41M | 6.27M | 2.42M | 2.69M |
| SG&A % of Revenue | - | 63.02% | 78.25% | 97.03% | 421.8% | 2059.4% | 1102.68% | 362.42% | 236.81% | 881.18% | 249.76% | 115.98% | 44.87% | 11.84% | 17.26% |
| Research & Development | 271.47M | 283.5M | 307M | 413.45M | 379.62M | 295.87M | 260.9M | 191.62M | 140.28M | 99.59M | 66.02M | 40.53M | 19.7M | 12.71M | 11.38M |
| R&D % of Revenue | - | 40.99% | 84.42% | 155.02% | 741.83% | 3803.9% | 3752.39% | 1432.68% | 1325.78% | 6509.09% | 1433.39% | 499.24% | 140.87% | 62.29% | 73.03% |
| Other Operating Expenses | 2M | 0 | 6.6M | 5.62M | 5.38M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Operating Income | -6.93M | -130.89M | -278.76M | -455.54M | -561.81M | -451.79M | -330.62M | -226.72M | -154.76M | -111.54M | -72.92M | -41.83M | -11.99M | 5.28M | 1.51M |
| Operating Margin % | -0.8% | -18.92% | -76.66% | -170.8% | -1097.85% | -5808.59% | -4755.07% | -1695.1% | -1462.59% | -7290.26% | -1583.15% | -515.21% | -85.74% | 25.87% | 9.71% |
| Operating Income Growth % | - | 53.05% | 38.81% | 18.92% | -24.35% | -36.65% | -45.83% | -46.5% | -38.74% | -52.96% | -74.35% | -248.86% | -327.11% | 248.91% | - |
| EBITDA | 10.46M | -113.9M | -261.05M | -436.63M | -544.3M | -436.4M | -321.17M | -220.05M | -153.85M | -110.85M | -72.21M | -41.27M | -11.48M | 5.68M | 1.94M |
| EBITDA Margin % | 1.21% | -16.47% | -71.79% | -163.7% | -1063.63% | -5610.71% | -4619.19% | -1645.24% | -1454.01% | -7245.2% | -1567.74% | -508.34% | -82.14% | 27.85% | 12.44% |
| EBITDA Growth % | 103.26% | 56.37% | 40.21% | 19.78% | -24.72% | -35.88% | -45.95% | -43.03% | -38.79% | -53.51% | -74.98% | -259.31% | -302.06% | 193.29% | - |
| D&A (Non-Cash Add-back) | 17.4M | 17M | 17.71M | 18.91M | 17.51M | 15.39M | 9.45M | 6.67M | 908.17K | 689.46K | 710.02K | 558K | 504K | 405K | 425K |
| EBIT | -24.34M | -130.89M | -307.74M | -430.08M | -547.13M | -380.03M | -417.26M | -217.03M | -130.36M | -124.28M | -68.73M | -33.57M | -10.32M | 4.71M | 1.3M |
| Net Interest Income | -95.7M | -62.77M | -51.14M | -27.21M | -23.26M | -3.22M | -106K | 8.84M | 3.89M | 826K | 118K | 7K | -16K | -8K | -20K |
| Interest Income | 86.8M | 14.7M | 14.36M | 16.86M | 7.43M | 692K | 1.81M | 10.06M | 4.02M | 923K | 123K | 13K | 0 | 0 | 0 |
| Interest Expense | 182.5M | 77.46M | 65.5M | 44.06M | 30.68M | 3.91M | 1.92M | 1.22M | 127K | 97K | 5K | 6K | 16K | 8K | 20K |
| Other Income/Expense | -160.87M | -73.37M | -94.48M | -18.6M | -16M | 67.85M | -88.55M | 8.47M | 24.27M | -12.83M | 4.19M | 8.25M | 1.65M | -574K | -228K |
| Pretax Income | -167.8M | -204.26M | -373.24M | -474.14M | -577.82M | -383.94M | -419.17M | -218.25M | -130.49M | -124.37M | -68.73M | -33.57M | -10.34M | 4.71M | 1.28M |
| Pretax Margin % | -19.34% | -29.53% | -102.64% | -177.77% | -1129.12% | -4936.28% | -6028.68% | -1631.78% | -1233.26% | -8129.02% | -1492.23% | -413.57% | -73.95% | 23.05% | 8.25% |
| Income Tax | -674.4M | 14.78M | 4.84M | 7.3M | 5.38M | -367K | -219K | -234K | -394K | -477K | -227K | -652K | -682K | 626K | 35K |
| Effective Tax Rate % | 401.9% | -7.23% | -1.3% | -1.54% | -0.93% | 0.1% | 0.05% | 0.11% | 0.3% | 0.38% | 0.33% | 1.94% | 6.6% | 13.3% | 2.72% |
| Net Income | 506.6M | -219.03M | -378.08M | -481.45M | -583.19M | -383.58M | -418.95M | -218.02M | -130.1M | -123.9M | -68.5M | -32.92M | -9.66M | 4.08M | 1.25M |
| Net Margin % | 58.4% | -31.67% | -103.97% | -180.51% | -1139.63% | -4931.56% | -6025.53% | -1630.03% | -1229.53% | -8097.84% | -1487.3% | -405.54% | -69.07% | 19.99% | 8.02% |
| Net Income Growth % | 248.27% | 42.07% | 21.47% | 17.45% | -52.04% | 8.44% | -92.17% | -67.58% | -5% | -80.86% | -108.08% | -240.88% | -336.77% | 226.32% | - |
| Net Income (Continuing) | 506.6M | -219.03M | -378.08M | -481.45M | -583.19M | -383.58M | -418.95M | -218.02M | -130.1M | -123.9M | -68.5M | -32.92M | -9.66M | 4.08M | 1.25M |
| Discontinued Operations | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Minority Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| EPS (Diluted) | 7.85 | -3.62 | -6.53 | -8.55 | -10.40 | -7.00 | -8.28 | -4.69 | -3.17 | -3.68 | -2.58 | -1.39 | -0.57 | 0.38 | 0.12 |
| EPS Growth % | 229.73% | 44.56% | 23.63% | 17.79% | -48.57% | 15.46% | -76.55% | -47.95% | 13.86% | -42.64% | -85.61% | -143.86% | -250% | 216.67% | - |
| EPS (Basic) | - | -3.62 | -6.53 | -8.55 | -10.40 | -7.00 | -8.28 | -4.69 | -3.17 | -3.68 | -2.58 | -1.39 | -0.57 | 0.38 | 0.12 |
| Diluted Shares Outstanding | 64.52M | 60.61M | 57.89M | 56.29M | 56.07M | 54.77M | 50.62M | 46.51M | 41.09M | 33.63M | 26.56M | 23.77M | 16.94M | 10.8M | 10.8M |
| Basic Shares Outstanding | 61.68M | 60.61M | 57.89M | 56.29M | 56.07M | 54.77M | 50.62M | 46.51M | 41.09M | 33.63M | 26.56M | 23.68M | 16.94M | 10.8M | 10.8M |
| Dividend Payout Ratio | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
Commercial execution and dilution
According to recent financial disclosures, ASND achieved a significant revenue growth acceleration to 148.3% in 2026Q1, reflecting the successful market penetration of its core endocrine portfolio and suggesting that the company is transitioning effectively from a clinical-stage entity to a commercial-stage growth engine.
The sharp uptick in top-line performance indicates that SKYTROFA and YORVIPATH are gaining meaningful traction with prescribing endocrinologists. Investors should monitor whether this growth trajectory remains sustainable as the company moves beyond initial stocking phases and into deeper market penetration.
As reported in quarterly filings, the company maintains a robust gross margin profile, peaking at 91.4% in 2026Q1, which underscores the significant pricing power inherent in its specialized biologics portfolio and the high barriers to entry provided by the proprietary TransCon platform technology.
This high margin structure provides a substantial buffer against potential manufacturing cost volatility or shifts in reimbursement landscapes. The ability to sustain margins above 85% suggests that the company's unique delivery system is highly valued by the market, justifying premium pricing relative to traditional therapeutic alternatives.
Based on the most recent income statement data, ASND has demonstrated a pivot toward operating profitability, with operating income reaching $25.2M in 2026Q1, marking a critical departure from the consistent operating losses observed throughout the previous two years of intensive commercial infrastructure investment.
The reduction in the relative burden of SG&A expenses suggests that the company is successfully leveraging its existing sales force to support multiple product launches. This trend warrants further investigation to determine if the current operating margin expansion is a permanent structural shift or a temporary result of revenue timing.
As indicated by the 2026Q1 net income of $639.7M, the reported bottom-line figure appears heavily influenced by non-operating items, necessitating a cautious interpretation of the company's true underlying profitability despite the positive headline EPS of 9.91 for the period.
Investors should look past the headline net income to evaluate core operational performance, as the current profitability may not be representative of recurring earnings power. The absence of stock-based compensation in recent quarters also suggests that the current earnings profile may be subject to future adjustments as compensation structures evolve.
Based on reported figures, the company has maintained significant R&D investment levels, with expenditures consistently ranging between $57M and $90M per quarter, reflecting a strategic commitment to pipeline expansion even as the commercial organization scales to support the current product portfolio.
The management of these costs is essential for preserving the company's cash runway while simultaneously funding the development of the oncology and skeletal dysplasia programs. Continued monitoring of R&D efficiency is required to ensure that capital allocation remains aligned with the highest-probability clinical assets.
Quick answers to the most common questions about buying ASND stock.
For fiscal year 2025, Ascendis Pharma A/S (ASND) reported total revenue of $691.7M. This represents a 4338.9% increase compared to $15.6M in 2012.
Ascendis Pharma A/S (ASND) reported a net loss of $219.0M for the fiscal year ending 2025.
Ascendis Pharma A/S (ASND) reported an operating income of $-130.9M, resulting in an operating profit margin of -18.9%. This margin reflects the operational efficiency of the business before interest and taxes.
Ascendis Pharma A/S (ASND) generated $588.5M in gross profit for the year, representing a gross profit margin of 85.1%. This demonstrates the company's core pricing power and production efficiency.