Knight Therapeutics reported calendar EPS of C$0.05, above the C$0.01 estimate. But its quarterly release showed an IFRS loss per share of C$0.03. The headline surprise came alongside higher revenue, wider gross margins and an improved full-year outlook.
Knight Therapeutics Inc. (TSX: GUD) released its third-quarter 2026 results before markets opened on November 5. The quarter ended September 30. The earnings calendar lists EPS of C$0.05 against an estimate of C$0.01, a 400% surprise. Knight’s release, however, reported an IFRS loss per share of C$0.03. These are different measures in the supplied data, so investors should not treat them as equivalent. The operating results were clearer: revenue rose 13% year over year, adjusted gross margin improved, and management raised its 2026 revenue and adjusted EBITDA outlook.
Recent earnings trend
Knight Therapeutics Inc.
GUD.TO
GUD.TO
Knight Therapeutics Inc.
WealthAwesomeMarket cap
$1.12B
P/E
71.4x
52W high
$11.86
52W low
$5.66
1W change
+1.33%
Beta
0.02
Analyst Price Targets
Based on analyst covering GUD · as of Oct 19, 2026
Wall Street analysts forecast GUD stock price to rise 2.0% over the next 12 months.
Consensus
NeutralBased on avg. target vs last close (formal rating unavailable for Canadian listings)
Avg. Target
C$11.65
+2.0% Upside
Previously C$11.19 on Sep 17, 2026
Current Price
C$11.42
Last close
Targets are snapshotted when they change. Unchanged figures keep their original date. Not financial advice.
Wealth Awesome Price Forecast
WA ModelStatistical 90-day price range based on GUD's historical volatility
30-Day Vol
23.2%
Annualized
90-Day Vol
26.0%
Annualized
Trend (90d)
+50.0%
Annualized drift
90d Mean
C$13.65
Expected price
| Horizon | Expected | 68% Range (1σ) |
|---|---|---|
| 30 trading days | C$12.12 | C$11.19 – C$13.13 |
| 60 trading days | C$12.86 | C$11.49 – C$14.41 |
| 90 trading days | C$13.65 | C$11.88 – C$15.69 |
Methodology: Range is calculated using 30-day realized volatility via geometric Brownian motion (log-normal model). 68% band = ±1σ, 95% band = ±2σ. This is a statistical model, not a prediction. Past volatility does not guarantee future results. Not financial advice.
Analyst coverage: 1 analyst(s) cover this name; upcoming EPS consensus is available.
Beat estimates in 3 of the last 4 comparable quarter(s).
| Fiscal period | Report date | Actual EPS | Estimate | Surprise |
|---|---|---|---|---|
| 2026-12-31 | 2027-03-18 | — | 0.0100 | — |
| 2026-09-30 | 2026-11-05 | 0.0500 | 0.0100 | +400.0% |
| 2026-06-30 | 2026-08-06 | -0.0300 | 0.0300 | -200.0% |
| 2026-03-31 | 2026-05-06 | 0.1389 | 0.0100 | +1289.0% |
| 2025-12-31 | 2026-03-19 | 0.1000 | 0.0100 | +900.0% |
| 2025-09-30 | 2025-11-06 | -0.0100 | 0.0200 | -150.0% |
Investor takeaway: Revenue rose 13% to C$137.7 million, gross margin increased to 50% from 46%, and adjusted EBITDA grew 13% to C$23.8 million. Knight also raised its 2026 revenue guidance to C$560 million–C$570 million and expects adjusted EBITDA to reach about 17.5% of revenue. Still, the company reported an operating loss of C$6.6 million and a net loss of C$2.7 million under IFRS. The 400% calendar EPS surprise is based on a small C$0.01 estimate. The percentage looks large, but the difference is just C$0.04 per share.
C$137.7 million
Knight’s third-quarter IFRS revenue rose 13% year over year to C$137.7 million. Gross margin increased to 50%, from 46% a year earlier. Adjusted EBITDA grew 13% to C$23.8 million, while the company reported an IFRS net loss of C$2.7 million.
Bull case
Knight’s promoted products and commercial launches are driving growth in Canada and Latin America. Adjusted revenue rose 12% year over year, or 4% after adjusting for currency. Adjusted gross margin increased to 51% from 49%. The company generated C$26.1 million in operating cash flow and ended the quarter with C$114.5 million in net cash. Management also raised its estimate of peak annual revenue from pipeline and launched pipeline products to more than C$300 million, up from more than C$200 million.
Bear case
The calendar EPS figure doesn’t change the IFRS results: Knight reported a C$6.6 million operating loss and a C$2.7 million net loss for the quarter. Revenue growth also benefited in part from stronger Latin American currencies. Adjusted revenue grew 4% on a constant-currency basis, and customer purchasing patterns partly offset growth. With a P/E of about 71 and a profit margin of 2.84%, execution, currency and product-launch risks remain important.
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