Enanta Pharmaceuticals Q1 2026 Earnings Snapshot

Enanta Pharmaceuticals (ENTA) opened its 2026 financial year with Q1 revenue of US$18.6 million and a basic EPS loss of US$0.42, alongside a net income loss of US$11.9 million, setting a clear tone for where the business is today. The company has seen quarterly revenue fluctuate in a tight band between US$14.6 million and US$18.6 million over the last six reported periods, while basic EPS losses have ranged from about US$0.42 to US$1.36. This keeps attention firmly on how efficiently that revenue is being converted. With analysts focused on forecast revenue growth as the main upside driver, this set of results keeps margins and the path to profitability front and center for investors.

With the latest numbers on the table, the next step is to set them against the widely followed narratives around Enanta's growth potential, risk profile, and long term margin story to see which views are reinforced and which might need a rethink.

Losses Narrow On A Trailing Basis

• On a trailing 12 month view, total revenue sits at US$66.98 million while the net income loss stands at US$71.54 million, compared with a US$81.89 million loss on US$65.32 million of revenue at the end of 2025.
• Bears often focus on Enanta being unprofitable and not forecast to reach profitability over the next three years, and the numbers here show why that concern is grounded in the current data, even though the trailing loss has moved from US$104.93 million a year ago to US$71.54 million most recently.
  • The trailing basic EPS loss has gone from US$5.48 to US$3.08 over roughly the same window, which still leaves shareholders exposed to continued per share losses.
  • Quarterly net income has been negative in every period shown, ranging from a US$28.82 million loss in Q4 2024 to an US$11.94 million loss in Q1 2026, so the business is not yet funding itself through earnings.

Q1 Loss Of US$11.94 Million Keeps Profit Path In Focus

• Q1 2026 delivered US$18.62 million in revenue against a net income loss of US$11.94 million. This compares with losses between US$18.26 million and US$28.82 million over the prior five quarters on revenues between US$14.61 million and US$18.31 million.
• Critics highlight that Enanta is being valued on future growth while still reporting consistent losses, and this quarter underlines that tension because the company is generating mid tens of millions in annualized revenue while trailing 12 month losses of US$71.54 million remain a key part of the story.
  • Basic EPS in Q1 2026 was a loss of US$0.42 per share, versus losses between US$0.85 and US$1.36 per share in the previous five quarters, so each share is still absorbing ongoing R&D and operating costs.
  • Across the last six quarters, revenue has stayed in a relatively tight band of US$14.61 million to US$18.62 million while net income has stayed negative throughout. This means the margin picture is still firmly in loss making territory.

P/S Of 6.1x Versus 11.4x Sector Average

• Enanta is trading on a price to sales ratio of 6.1x, which sits below both the US Biotechs industry average of 11.4x and a peer average of 12.3x, with trailing 12 month revenue of US$66.98 million and a share price of US$14.13 forming the backdrop to that comparison.
• Supporters point to forecast revenue growth of about 15.6% per year and the lower P/S multiple as a constructive setup, but the data also brings out the trade off, because that valuation sits alongside trailing EPS of a US$3.08 loss per share and recent shareholder dilution.
  • Revenue expectations are highlighted as a key positive signal, yet the company is still recorded as unprofitable and not forecast to reach profitability over the next three years, which keeps the focus on how long investors may wait for any earnings contribution.
  • On top of that, shareholders have already faced meaningful dilution over the last year and there has been significant insider selling over the past three months, so any appeal of the 6.1x P/S ratio has to be weighed against those ownership and financing risks.

To see how other investors are joining the dots between these revenue trends, ongoing losses, and valuation metrics, you can read the full community take on Enanta in Curious how numbers become stories that shape markets? Explore Community Narratives

Next Steps

Don't just look at this quarter; the real story is in the long-term trend. We've done an in-depth analysis on Enanta Pharmaceuticals's growth and its valuation to see if today's price is a bargain. Add the company to your watchlist or portfolio now so you don't miss the next big move.

See What Else Is Out There

Enanta is still posting consistent losses, facing shareholder dilution and insider selling, so the current revenue base is not yet supporting a clear path to self funding.

If you want ideas where the risk profile may be tighter, take a look at 83 resilient stocks with low risk scores and see which businesses line up better with your comfort zone today.

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.