Elite Pharmaceuticals, Inc. filed a Form 10-Q with the SEC on November 12, 2026, covering the quarterly period ended September 30, 2026, reporting condensed consolidated financial results for the three and six months ended on that date.

Key Highlights

  • Six-month net income of $23,229,311: The company reported net income of $23,229,311 for the six months ended September 30, 2026, compared to $7,817,692 for the same period in 2025, according to the filing.
  • Q2 revenue of $40,081,960: Revenue for the three months ended September 30, 2026 was $40,081,960, up from $36,321,704 in the prior-year quarter, the filing disclosed.
  • Total assets of $144,287,718: As of September 30, 2026, total assets stood at $144,287,718, compared to $138,289,840 as of March 31, 2026.
  • Accumulated deficit reduced to $52,601,929: The accumulated deficit narrowed from $75,831,240 at March 31, 2026 to $52,601,929 at September 30, 2026, per the balance sheet.
  • Derivative warrant liability shifted to current: Derivative financial instruments classified as warrants moved from $17,343,586 in long-term liabilities at March 31, 2026 to $7,580,484 in current liabilities at September 30, 2026.
  • 1,077,569,775 shares outstanding: As of November 12, 2026, common shares outstanding totaled 1,077,569,775, according to the filing's cover page.

Elite Pharmaceuticals Financial Results: Six Months Ended September 30, 2026

According to the filing, Elite Pharmaceuticals, Inc. (Northvale, New Jersey) reported revenue of $72,437,243 for the six months ended September 30, 2026, compared to $76,532,801 for the same period in 2025. Cost of manufacturing for the six-month period was $42,942,403, yielding a gross profit of $29,494,840, versus $41,299,003 in the prior-year period. Income from operations for the six months was $17,454,732, down from $29,913,453 in the comparable prior-year period, the company disclosed.

For the three months ended September 30, 2026, the filing reported income from operations of $9,925,451, compared to $8,213,746 in the prior-year quarter. Other income for the quarter included a change in fair value of derivative financial instruments - warrants of $9,668,855, contributing to income before income taxes of $19,743,757. After income tax expense of $2,425,011, net income for the quarter was $17,318,746, compared to $13,702,407 in the three months ended September 30, 2025, according to the filing.

The condensed consolidated balance sheet as of September 30, 2026 showed total shareholders' equity of $122,165,109, up from $98,882,975 at March 31, 2026. Cash was reported at $34,862,578, compared to $29,797,800 at March 31, 2026. Total liabilities declined to $22,122,609 from $39,406,865 at the prior fiscal year-end, driven in part by the reduction in warrant-related derivative liabilities, the filing stated. The company reported 1,445,000,000 authorized shares of common stock at a par value of $0.001, with 1,077,236,442 shares issued as of September 30, 2026.

What Was Disclosed

Elite Pharmaceuticals filed its quarterly report for the period ended September 30, 2026, disclosing revenue, net income, balance sheet positions, and changes in shareholders' equity for the three and six months ended on that date, along with share counts as of November 12, 2026.