Lantheus Holdings, Inc. (NASDAQ: LNTH) delivered strong first-quarter 2026 results, exceeding analyst expectations for revenue and adjusted earnings per share. The company reported worldwide revenue of $377.3 million, up 1.2% from the prior year, and adjusted fully diluted EPS of $1.46.3637
Financial Highlights
Revenue breakdown includes PYLARIFY at $240.9 million, down 6.5% year-over-year due to market dynamics; DEFINITY at $84.6 million, up 6.8%; Neuraceq at $35.4 million; and strategic partnerships at $16.3 million, up 52.1%. SPECT revenue fell to zero following its divestiture.36
GAAP net income rose 62.3% to $118.4 million, while operating income declined 20.3% to $81.3 million. Adjusted operating income decreased 10.5% to $129.1 million. The company generated $125.1 million in operating cash flow and $121.9 million in free cash flow, bolstering its cash position to $498.6 million.36
Key Business Developments
Regulators granted FDA approval for PYLARIFY TruVu, a new formulation set for phased launch in the fourth quarter of 2026. The FDA also issued tentative approval for PNT2003, a Lutetium Lu 177 Dotatate radioequivalent for GEP-NETs. The PDUFA date for LNTH-2501 extends to June 29, 2026.36
Lantheus completed the sale of its SPECT business to SHINE Technologies effective January 1, 2026, sharpening focus on PET radiodiagnostics.36
Full-Year 2026 Guidance
Executives reaffirmed revenue guidance of $1.4 billion to $1.45 billion and adjusted fully diluted EPS of $5.00 to $5.25. Guidance embeds no material contributions from 2026 approvals and reflects conservative assumptions amid competitive pressures.37
Executive Remarks
Mary Heino, Interim CEO and Executive Chairperson, stated, “Our first quarter results demonstrate disciplined execution… For the remainder of 2026, we are focused on sustaining our leadership in PSMA PET as we prepare for the PYLARIFY TruVu conversion later this year, expanding our Alzheimer’s imaging portfolio, and advancing our prioritized pipeline.”36
Amanda Morgan, Chief Commercial Officer, highlighted PYLARIFY volume growth of 5.8% year-over-year and preparations for TruVu transition, including HCPCS code submission and site readiness.37
Robert Marshall, CFO, noted operating expense increases from acquisitions and R&D investments, with a tax rate of 25.3%.37
Q&A Insights
Analysts probed PSMA market growth, projected in the low teens for 2026, and TruVu rollout details. Executives emphasized seamless transitions, reimbursement readiness, and vigilance on competitors. Questions on PNT2003 timing tied approvals to legal resolutions, with no 2026 revenue assumed.37
Shares rose over 5% in pre-market trading following the announcement.37
