Vanda Pharmaceuticals Inc. (VNDA) Revenue History
Annual and quarterly revenue from 2004 to present
VNDA Revenue Over Time (2004–2025)
VNDA Revenue Growth History
13 of 17 years with positive growth- FY2004 revenue growth
- N/A
- FY2005 revenue growth
- -100.0%
- FY2006 revenue growth
- N/A
- FY2007 revenue growth
- N/A
- FY2008 revenue growth
- N/A
- FY2009 revenue growth
- N/A
- FY2010 revenue growth
- +674.4%
- FY2011 revenue growth
- -11.2%
- FY2012 revenue growth
- +4.7%
- FY2013 revenue growth
- +3.5%
- FY2014 revenue growth
- +48.0%
- FY2015 revenue growth
- +119.2%
- FY2016 revenue growth
- +32.8%
- FY2017 revenue growth
- +13.1%
- FY2018 revenue growth
- +17.0%
- FY2019 revenue growth
- +17.6%
- FY2020 revenue growth
- +9.2%
- FY2021 revenue growth
- +8.3%
- FY2022 revenue growth
- -5.3%
- FY2023 revenue growth
- -24.3%
- FY2024 revenue growth
- +3.2%
- FY2025 revenue growth
- +8.7%
| Quarter | Revenue | YoY |
|---|---|---|
| Q1 2026 | $51.7M | +3.4% |
| Q4 2025 | $57.2M | +7.6% |
| Q3 2025 | $56.3M | +18.1% |
| Q2 2025 | $52.6M | +4.2% |
| Q1 2025 | $50.0M | +5.4% |
| Q4 2024 | $53.2M | +17.5% |
| Q3 2024 | $47.7M | +22.8% |
| Q2 2024 | $50.5M | +9.6% |
Multi-year avg. share of annual revenue by fiscal quarter
Revenue Breakdown (FY 2025)
VNDA's revenue distribution by segment and geography for fiscal year 2025
By Product/Segment
VNDA Revenue Analysis (2004–2025)
Current Revenue & Growth
As of June 22, 2026, Vanda Pharmaceuticals Inc. (VNDA) generated trailing twelve-month (TTM) revenue of $217.8 million, reflecting modest growth of +3.4% year-over-year. The most recent quarter (Q1 2026) recorded $51.7 million in revenue, down 9.6% sequentially.
Historical Growth Trajectory
VNDA's 5-year compound annual growth rate (CAGR) stands at -2.7%, indicating revenue contraction over this period. The 3-year CAGR of -5.3% is below the 5-year average, signalling a growth deceleration in recent years. Vanda Pharmaceuticals Inc.'s highest annual revenue of $268.7 million was recorded in 2021.
Revenue by Segment
VNDA's revenue is primarily driven by Fanapt (62%), and Hetlioz (38%). With over half of revenue concentrated in Fanapt, the company has a focused business model while developing other growth vectors.
Peer Comparison
Compared to Healthcare sector peers — including SUPN (+16.3% YoY), PTCT (-53.3% YoY), and ACAD (+9.9% YoY) — VNDA has outperformed the peer group in revenue growth. Compare VNDA vs SUPN →
VNDA Revenue vs Peers
Revenue metrics vs comparable public companies
| Company | TTM Revenue | YoY Growth | 5Y CAGR | Op. Margin | Compare |
|---|---|---|---|---|---|
| VNDACurrent | $218M | +3.4% | -2.7% | -70.0% | |
 SUPN | $719M | +16.3% | +6.7% | -5.1% | |
 PTCT | $1.7B | -53.3% | +35.4% | 49.5% | |
 ACAD | $1.1B | +9.9% | +19.4% | 9.8% | |
 INVA | $425M | +13.6% | +4.8% | 38.5% | |
 PCRX | $726M | +4.6% | +11.1% | 4.6% |
VNDA Historical Revenue Data (2004–2025)
| Year | Revenue | YoY % | Gross Profit | Gross Margin | Op. Income | Op. Margin |
|---|---|---|---|---|---|---|
| 2025 | $216.1M | +8.7% | $203.1M | 94.0% | $-151,168,000 | -70.0% |
| 2024 | $198.8M | +3.2% | $187.5M | 94.3% | $-40,660,000 | -20.5% |
| 2023 | $192.6M | -24.3% | $177.8M | 92.3% | $-13,952,000 | -7.2% |
| 2022 | $254.4M | -5.3% | $230.1M | 90.5% | $6.3M | 2.5% |
| 2021 | $268.7M | +8.3% | $243.1M | 90.5% | $42.2M | 15.7% |
| 2020 | $248.2M | +9.2% | $224.8M | 90.6% | $27.2M | 11.0% |
| 2019 | $227.2M | +17.6% | $202.7M | 89.2% | $22.8M | 10.0% |
| 2018 | $193.1M | +17.0% | $172.6M | 89.4% | $21.7M | 11.3% |
| 2017 | $165.1M | +13.1% | $147.2M | 89.2% | $-16,903,000 | -10.2% |
| 2016 | $146.0M | +32.8% | $121.3M | 83.1% | $-18,571,000 | -12.7% |
| 2015 | $109.9M | +119.2% | $86.5M | 78.7% | $-40,185,000 | -36.6% |
| 2014 | $50.2M | +48.0% | $48.6M | 96.8% | $20.1M | 40.0% |
| 2013 | $33.9M | +3.5% | $33.9M | 100.0% | $-20,400,000 | -60.2% |
| 2012 | $32.7M | +4.7% | $32.6M | 99.6% | $-28,225,000 | -86.2% |
| 2011 | $31.3M | -11.2% | $31.3M | 100.0% | $-10,707,000 | -34.2% |
Intrinsic Valuation
DCF models, multiple analysis, and analyst estimates.
Historical Returns
22+ years return with dividends reinvested.
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Peer Comparison
Compare growth, multiples, and margins vs sector.
VNDA — Frequently Asked Questions
Quick answers to the most common questions about buying VNDA stock.
Is VNDA's revenue growth accelerating or slowing?
VNDA revenue growth is slowing. TTM revenue is $218M, up +3.4% year-over-year — below the 5-year CAGR of -2.7%. The deceleration suggests maturing end-markets or increased competition.
What is VNDA's revenue history from 2004 to 2026?
Vanda Pharmaceuticals Inc. (VNDA) revenue history spans 2004 to 2026. TTM revenue as of 2026 is $218M, growing at +3.4% YoY. The 5-year CAGR is -2.7%. Complete annual and quarterly revenue figures are available on this page, including gross profit, operating income, and margin trends.
What is VNDA's long-term revenue growth rate (CAGR)?
Vanda Pharmaceuticals Inc.'s 5-year revenue CAGR of -2.7% reflects the variable nature of its business expansion. As of 2026, the current YoY growth rate of +3.4% is below this long-term average. CAGR is the most reliable measure of sustained revenue momentum for VNDA.
Why does VNDA's quarterly revenue fluctuate?
VNDA quarterly revenue can fluctuate significantly between periods. A quarter-over-quarter (QoQ) change does not always indicate a trend; comparing the same quarter year-over-year (YoY) is a more reliable signal for underlying growth. Vanda Pharmaceuticals Inc.'s revenue data from 2004 to 2026 shows full historical quarterly detail on this page.
How is VNDA's revenue distributed by segment?
VNDA reports revenue broken down by product line and geographic region. The segment breakdown on this page shows which business units contribute the most to total revenue as of the latest fiscal year. Concentration in a single segment above 50% indicates category dependence, while a diversified mix signals more resilient revenue streams.
How does VNDA's revenue compare to industry peers?
Vanda Pharmaceuticals Inc. (VNDA) with TTM revenue of $218M and +3.4% YoY growth can be benchmarked against sector peers using the comparison table on this page. Revenue growth relative to peers indicates market share gains or losses. The peer section shows TTM revenue, YoY growth, and operating margin for direct comparisons.