Short answer
MANNKIND CORP (MNKD) filed its Q3 2025 10-Q quarterly report on Nov 5, 2025 for the quarter ended Sep 30, 2025. Quarterly revenue was $82M (up 17.2% year over year) with net income of $8M.
Q3 2025 key financials · XBRL
- Revenue
- $82M
- +17.2% YoY · +7.3% QoQ
- Net income
- $8M
- −30.9% YoY · +1095.4% QoQ
- Operating margin
- 23.0%
- EPS (diluted)
- $0.03
- −25.0% YoY
Source: XBRL data from the MANNKIND CORP (MNKD) Q3 2025 10-Q on SEC EDGAR. USD.
MANNKIND CORP Q3 2025 10-Q analysis
AI summary of MD&A and risk factor updates
Management Discussion & Analysis
- Revenue $82.1M for Q3 FY25, up 17% YoY from $70.1M; Nine months revenue $237.0M, up 14% YoY from $208.7M
- Commercial product gross margin 80% Q3 FY25 vs 84% in Q3 FY24; Nine months margin 80% vs 79% YoY
- Best segment: Royalties $33.3M Q3 FY25 (+23% YoY); Worst: V-Go net revenue down 19% Q3, 11% YTD
- Operating cash flow $26.2M YTD FY25 vs $19.9M YTD FY24, non-cash charges included $17.2M stock comp, $7.8M FX loss
- Management expects liquidity sufficient for 12+ months; notes additional term loan for scPharma acquisition and rising SG&A expenses (+22%)
Risk Factors
- New risk: Acquisition-related integration risk triggered by October 2025 scPharma purchase, including increased interest expense and potential net debt impact
- Updated operational risk: Manufacturing complications and supply chain challenges intensified by tariffs and U.S.-China trade tensions affecting V-Go production
- Regulatory risk: Inflation Reduction Act's $35 insulin copay limit for Medicare Part D beneficiaries starting 2023 impacting pricing and reimbursement environment
- Commercial risk: Difficulty securing and maintaining skilled sales forces for two distinct physician target groups after scPharma acquisition
- Financial risk: Increased leverage and debt service requirements due to acquisition debt, with uncertain access to additional capital on favorable terms
Generated from the filing text; verify against the original. 10-K vs 10-Q vs 8-K
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