# Madrigal (MDGL) — Earnings

MDGL · NASDAQ · Stock

Canonical page: https://www.lighthorse.io/tickers/mdgl/earnings

## Most recent quarter

| Metric | Value |
| --- | --- |
| Fiscal period | Q2 2026 |
| Period end | Jun 30, 2026 |
| EPS actual | −$1.99 |
| EPS estimate | −$2.35 |
| EPS surprise | +15.47% |
| Revenue surprise | +1.33% |
| Revenue | $364.3M |
| Revenue estimate | $359.5M |
| Reported | Jul 30, 2026 |
| SEC filing | [View filing](https://www.sec.gov:443/Archives/edgar/data/1157601/000162828026050845/mdgl-20260630.htm) |
| Earnings call | [Transcript](http://o.thsi.cn/dc-d-stock-america.teleconference/d85c4021-ff68-a30f-1f53-a5fd3126a2e6.html) |

Madrigal reported Q2 2026 results on July 30, 2026. It posted a loss of $1.99 per share, narrower than the $2.35 loss analysts expected, a positive surprise of 15.47%. Revenue was $364.3 million against a $359.5 million consensus, a 1.33% beat. Compared with Q2 2025, revenue rose about 71% from $212.8 million, while the loss was slightly wider than that quarter's $1.90 per share.

Madrigal has reported a loss in every one of the 20 quarters in the table. Annual losses were $17.23 per share in 2022, $19.94 in 2023 and $22.11 in 2024, then narrowed to $12.87 in 2025. The table shows no revenue before Q2 2024, when the company reported $14.6 million. Revenue then rose each quarter to $321.1 million in Q4 2025, dipped in Q1 2026 and set a new high in Q2. The first half of 2026 shows a combined loss of $5.24 per share, close to the $5.22 of a year earlier. It posted a positive EPS surprise in 11 of 20 quarters.

Madrigal reported Q3 between October 31 and November 6 in each of the past five years. That points to early November 2026 for the next report.

## Earnings history

| Fiscal period | Report date | EPS estimate | EPS actual | Surprise | Revenue estimate | Revenue actual |
| --- | --- | --- | --- | --- | --- | --- |
| Q2 2026 | Jul 30, 2026 | −$2.35 | −$1.99 | 15.47% | $359.5M | $364.3M |
| Q1 2026 | May 6, 2026 | −$4.23 | −$3.25 | 23.16% | $301.1M | $311.3M |
| Q4 2025 | Feb 19, 2026 | −$1.00 | −$2.57 | -158.01% | $312.7M | $321.1M |
| Q3 2025 | Nov 4, 2025 | −$2.29 | −$5.08 | -122.31% | $247.3M | $287.3M |
| Q2 2025 | Aug 5, 2025 | −$3.55 | −$1.90 | 46.54% | $162.0M | $212.8M |
| Q1 2025 | May 1, 2025 | −$3.75 | −$3.32 | 11.43% | $114.7M | $137.3M |
| Q4 2024 | Feb 26, 2025 | −$3.92 | −$2.71 | 30.86% | $99.1M | $103.3M |
| Q3 2024 | Oct 31, 2024 | −$6.75 | −$4.92 | 27.09% | $34.6M | $62.2M |
| Q2 2024 | Aug 7, 2024 | −$7.54 | −$7.10 | 5.79% | $4.3M | $14.6M |
| Q1 2024 | May 7, 2024 | −$6.29 | −$7.38 | -17.42% | — | — |
| Q4 2023 | Feb 28, 2024 | −$5.24 | −$5.68 | -8.42% | — | — |
| Q3 2023 | Nov 6, 2023 | −$4.90 | −$5.34 | -9.08% | — | — |
| Q2 2023 | Aug 8, 2023 | −$4.59 | −$4.69 | -2.13% | — | — |
| Q1 2023 | May 9, 2023 | −$4.96 | −$4.23 | 14.67% | — | — |
| Q4 2022 | Feb 23, 2023 | −$4.63 | −$4.98 | -7.65% | — | — |
| Q3 2022 | Nov 3, 2022 | −$4.21 | −$4.75 | -12.82% | — | — |
| Q2 2022 | Aug 4, 2022 | −$3.68 | −$4.14 | -12.48% | — | — |
| Q1 2022 | May 9, 2022 | −$3.58 | −$3.36 | 6.03% | — | — |
| Q4 2021 | Feb 24, 2022 | −$3.88 | −$3.78 | 2.51% | — | — |
| Q3 2021 | Nov 4, 2021 | −$3.87 | −$3.79 | 2.14% | — | — |

## Frequently Asked Questions

### When did Madrigal (MDGL) last report earnings?

Madrigal last reported on Jul 30, 2026, covering fiscal Q2 2026.

### Did MDGL beat earnings estimates?

Yes. Madrigal reported EPS of −$1.99 for Q2 2026 against a −$2.35 estimate — a 15.47% beat.

### How much revenue did MDGL report last quarter?

Madrigal reported $364.3M in revenue for Q2 2026, against a consensus estimate of $359.5M.

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Earnings figures may be restated, revised or corrected by the issuer. Past results do not indicate future performance.

This page is for informational purposes only. Nothing on it is a recommendation, solicitation or offer to buy or sell any security, nor investment, legal or tax advice. Light Horse Securities Inc does not verify third-party data and is not responsible for its accuracy, completeness or timeliness.

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