-- Knight Therapeutics (GUD.TO) first quarter net earnings and adjusted revenue both jumped, beating forecasts, the company said on Thursday, as it raised its 2026 revenue guidance.
Net income surged 503% to $13.2 million or $0.13 per share, from $2.2 million or $0.02 per share in the previous corresponding quarter. The result beat the consensus mean forecast of $0.03 per share, according to FactSet.
Adjusted revenue, which excludes most one-time items, climbed 68% to $147.6 million, beating the forecast of $114.06 million. The increase was driven by the incremental revenue from the Paladin and Sumitomo portfolios, the growth of the company's promoted products, and the purchasing patterns of certain products including Ambisome deliveries to Brazil's health ministry, it said.
Knight Therapeutics also increased its fiscal 2026 revenue guidance to between $510 million to $525 million in revenues up from $490 million to $510 million. Adjusted EBITDA is expected to be 15% of revenues. The higher revenue outlook is due to better performance of promoted products in several countries including Canada, Mexico and Colombia and improved forecasted LATAM currencies against the Canadian dollar.
Knight shares closed down $0.04, to $7.51 on Wednesday on the Toronto Stock Exchange.