GMAB stock gains as Genmab builds on Q1 2026 growth

Genmab (DK0010272202) stock is anchored by its Q1 2026 interim report, which showed revenue of EUR 736 million and net income of EUR 287 million for the quarter. The report also showed diluted earnings per share of EUR 4.29 and an operating profit of EUR 338 million, giving investors a dated financial base as of Q1 2026.

Q1 2026 sets the tone

Revenue of EUR 736 million in Q1 2026 compared with EUR 625 million a year earlier, a rise of 17.7% year over year. Net income increased from EUR 220 million in Q1 2025 to EUR 287 million in Q1 2026, while diluted EPS moved from EUR 3.26 to EUR 4.29 over the same period, according to the same report.

That comparison matters more than a single quarter headline because it shows both the top line and per-share profit moving in the same direction. For a company traded on Nasdaq Copenhagen, those two metrics are the clearest near-term read-through for GMAB stock.

Operating profit stays high

Operating profit reached EUR 338 million in Q1 2026, versus EUR 270 million in Q1 2025. The margin on that result remained strong because operating profit represented 45.9% of quarterly revenue, based on the figures in Genmab's Q1 2026 interim report.

Cash and cash equivalents stood at EUR 3.0 billion at 31 March 2026, while total equity was EUR 5.4 billion at the same date. The balance sheet leaves room for pipeline spending and business development, even as quarterly profit remains the more immediate driver for the share.

Balance sheet matters too

Genmab also reported research and development expenses of EUR 306 million in Q1 2026, up from EUR 250 million in Q1 2025. Selling, general and administrative expenses were EUR 186 million in Q1 2026, compared with EUR 155 million a year earlier, which shows that operating costs rose alongside sales.

For investors, the key detail is not only that costs rose, but that they rose from a larger revenue base. That combination helps explain why profit still improved by EUR 67 million year over year in the quarter.

Daratumumab still matters

Genmab's product mix remains tied to antibody therapies, with daratumumab still the most visible commercial reference point in the company's filings and partner disclosures. In the Q1 2026 report, revenue from partnered products and royalties remained the main support for the quarter's EUR 736 million top line.

That concentration means any update on partner sales, royalty rates, or pipeline readouts can move sentiment quickly, but the current published numbers already show why the market continues to assign weight to the franchise. The company has turned that product base into recurring quarterly earnings rather than a one-off revenue spike.

Nasdaq Copenhagen context

Genmab shares trade on Nasdaq Copenhagen, and the stock's market read often tracks quarterly report quality as much as day-to-day trading flow. The latest dated market context in this article is the Q1 2026 reporting set, which gives the cleanest evidence base for the share.

As a practical reference point, the Q1 2026 report shows the company with EUR 736 million in quarterly revenue, EUR 338 million in operating profit, and EUR 287 million in net income. That three-number combination is the clearest current valuation anchor for GMAB stock.

Read deeper

Genmab's latest quarter combines higher revenue, higher profit, and a large cash position. The figures are most useful when read together because they link growth with financial flexibility.

Product base stays central

Daratumumab remains the most commercially important product reference for Genmab, and its partner-driven revenue stream is still visible in the reported quarterly figures. The Q1 2026 release did not change that basic picture: one established antibody asset still helps carry a business that reported EUR 736 million in revenue and EUR 287 million in net income for the quarter.

Stock reference point

Genmab stock is quoted on Nasdaq Copenhagen, and the article uses the Q1 2026 report as its dated reference point. The share-price line is omitted here because the report itself provides the clearest current market context in this call, including EUR 3.0 billion in cash and EUR 5.4 billion in equity at 31 March 2026.