Amarin (AMRN) has opened Q1 2026 earnings season with a fresh set of numbers that sit against a recent run of quarterly losses, headlined by Q4 2025 revenue of about US$49.2 million and a basic EPS loss of US$0.06, alongside trailing 12 month revenue of roughly US$213.6 million and a loss of US$1.87 per share. Over the last six reported quarters, revenue has ranged from about US$42.0 million to US$72.7 million while basic EPS has moved between a loss of US$0.06 and a much deeper loss of US$2.36. Today’s update therefore lands in the context of ongoing pressure on profitability and margins that remain under strain.

See our full analysis for Amarin.

With that baseline in place, the next step is to see how these results line up against the prevailing narratives around Amarin, highlighting where the numbers back the story and where they start to challenge it.

Losses Still Heavy Versus US$213.6 Million In Sales

• Over the last twelve months, Amarin generated about US$213.6 million in revenue but reported a net loss of roughly US$38.8 million and a basic EPS loss of US$1.87.
• Analysts' consensus view leans on international growth and cost cuts to support the story, yet the data here shows revenue growing at 6.2% a year while losses have compounded at about 24.2% a year. This creates a tension between:
  • the idea that global expansion and a stronger balance sheet can help earnings, and
  • the reality that, over five years, earnings have moved deeper into loss despite TTM sales holding above US$200 million.

Trailing Loss Trend Versus Analyst Turnaround Hopes

• Over the past five years, Amarin's losses have grown at an annualized rate of about 24.2%, and the latest trailing 12 month net loss sits at about US$38.8 million on US$213.6 million of revenue.
• Consensus narrative expectations for margins to move from a current profit margin of about 18.2% loss to 15.9% profit by 2029 face a direct test here, because:
  • current trailing basic EPS of a US$1.87 loss contrasts with the longer term goal of US$27.6 million in earnings, and
  • the recent quarterly net losses, such as US$1.2 million in Q4 2025 after much larger losses in 2024, show the business still operating in loss even as analysts model a future turnaround.

Skeptics focus on whether this pace of loss over the last five years leaves enough room for the turnaround story to play out, and that tension is central to the current cautious narrative for Amarin. 🐻 Amarin Bear Case

Low P/S Of 1.4x Versus DCF Fair Value

• At a share price of US$13.93 and sales of about US$213.6 million, Amarin trades on a P/S of roughly 1.4x, which is far below the cited peer average of 22.1x and US Biotechs industry average of 10.8x. However, this sits against a DCF fair value of US$11.08.
• For investors leaning toward a more bullish angle, this mix of a low sales multiple and a share price above the DCF fair value sets up a clear trade off, because:
  • the low P/S relative to peers and the industry can support the view that the stock is priced cautiously against its revenue base, while
  • the current price sitting above the US$11.08 DCF fair value keeps a check on the argument that the stock is purely a simple value case.

Supporters who think the international sales story and cost actions will eventually improve profitability may see this valuation mix as an opening worth understanding in more detail. 🐂 Amarin Bull Case

Next Steps

To see how these results tie into long-term growth, risks, and valuation, check out the full range of community narratives for Amarin on Simply Wall St. Add the company to your watchlist or portfolio so you'll be alerted when the story evolves.

Given the mix of pressure on earnings and cautious optimism on valuation, it makes sense to look at the full picture yourself and decide how comfortable you are with the balance of risk and reward, then weigh those factors against the 1 key reward and 1 important warning sign

See What Else Is Out There

Amarin is still carrying sizeable losses against US$213.6 million of revenue, with margins under pressure and earnings yet to match the turnaround hopes.

If that earnings drag makes you cautious, it is worth acting now and checking 76 resilient stocks with low risk scores for companies where financial risk scores look far more controlled.

This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.