SHARPE
Reported results
- Total revenues were $29.1 million, up 2% year-over-year.
- Licensing and related revenues were $16.3 million, up 2% year-over-year.
- Royalty revenues were $12.7 million, up 3% year-over-year and 18% sequentially.
- GAAP gross margin was 85%, compared to GAAP gross margin of 88% for the third quarter of 2025.
- GAAP net loss was $2.3 million, compared to GAAP net loss of $2.5 million for the third quarter of 2025.
- Non-GAAP net income was $3.8 million, compared to non-GAAP net income of $2.7 million for the third quarter of 2025.
Price and volatility reaction
The stock moved -8.3% on the print. No front-expiry chain was on file, so there is no straddle expected move. 30-day ATM implied volatility moved -10.9 vol points across the event (constant-maturity series — not the front-week crush).
| Measure | Value | Basis |
|---|---|---|
| Close before release | 27.1 | 2026-11-06 |
| Close after release | 24.84 | 2026-11-09 |
| Realised move | -8.3% | close to close |
| 30d ATM IV change | -10.9 vol pts | constant-maturity series, not the front expiry |
Source
The figures above come from the earnings release the company filed with the SEC on 2026-11-09 (8-K, Item 2.02). Read the original filing on sec.gov.