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Arbutus Biopharma (ABUS) earnings and revenue breakdown
Latest: Q2 2026 · 10-Q filed Aug 12, 2026 · Arbutus Biopharma (ABUS) Q2 2026 earnings results →
Q2 2026 Revenue down 91% year over year to $1.0M · 507¢ of every $1 of revenue lost · operating margin -588.2%
Arbutus Biopharma made $1.0M in Q2 2026 (-91% Y/Y): Revenue from collaborations and licenses $632K, Collaborations and licenses $202K, Non-cash royalty revenue $180K. Operating margin -588.2%, net loss $5.1M. See where every dollar goes — costs, profit and cash — as a Sankey from the 10-Q filed Aug 12, 2026.
Drawing the Sankey…
Open the interactive Sankey → click any line for what the company wrote about it, compare Y/Y and Q/Q, export as PNG or PDF
What changed this quarter
Revenue was $1.0M in Q2 2026, down 91% year over year and down 99% from the previous quarter. Revenue from collaborations and licenses was the largest line at 62% of revenue. Collaborations and licenses lost $10.0M year over year (down 98%), 103% of the total change.
Operating costs exceeded revenue by $6.0M, an operating margin of -588.2%. Total costs fell 25% while revenue fell 91%. The fastest-growing cost line was General & admin (+16%). The quarter ended with a net loss of $5.1M, after a profit of $169.7M the previous quarter.
Operating cash flow was −$6.0M. Non-cash charges added back $11K of depreciation and amortization and $1.6M of share-based compensation. Working capital and other items used $2.5M.
Quarterly history
| Quarter | Form | Filed | Revenue | Y/Y | Op. margin | Net earnings | Op. cash flow |
|---|---|---|---|---|---|---|---|
| Q2 2026 | 10-Q | Aug 12, 2026 | $1.0M | -91% | -588.2% | −$5.1M | −$6.0M |
| Q1 2026 | 10-Q | May 13, 2026 | $179M | 102× | 94.3% | $170M | −$8.1M |
| Q4 2025 | 10-K | Mar 23, 2026 | $1.1M | -33% | -503.3% | −$3.8M | −$4.7M |
| Q3 2025 | 10-Q | Nov 13, 2025 | $529K | -60% | n/m | −$7.7M | −$5.8M |
| Q2 2025 | 10-Q | Aug 6, 2025 | $10.7M | +522% | 13.9% | $2.5M | −$15.7M |
| Q1 2025 | 10-Q | May 14, 2025 | $1.8M | +15% | n/m | −$24.5M | −$13.4M |
| Q4 2024 | 10-K | Mar 27, 2025 | $1.6M | -27% | -885.2% | −$12.5M | −$10.3M |
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🔄Rotation against the market and its industry (RRG)interactive
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About Arbutus Biopharma
Arbutus Biopharma Corporation (“Arbutus”, the “Company”, “we”, “us”, and “our”) is a clinical-stage biopharmaceutical company focused on infectious disease. We are currently developing imdusiran (AB-729), our proprietary, GalNAc-conjugated, subcutaneously-delivered ribonucleic acid interference (RNAi) therapeutic, and AB-101, our proprietary oral PD-L1 inhibitor, for the treatment of chronic hepatitis B (cHBV). We continue to protect and defend our intellectual property, which is the subject of our ongoing lawsuit against Pfizer Inc. and BioNTech SE (collectively, Pfizer/BioNTech) for their use of our patented lipid nanoparticle (LNP) technology in their COVID-19 messenger ribonucleic acid interference (mRNA)-LNP vaccines. The court issued a claim construction ruling in September 2025, which construed the disputed claim terms in a manner we generally consider to be favorable.
In its own words, from its 10-K, filed Mar 23, 2026.
Arbutus Biopharma against its Pharmaceutical Preparations peers
The largest companies of the same SEC industry, each at its latest quarter. Revenue growth: -91% against the peers' median +7%. Operating margin: -588.2% against the peers' median 20.4%.
| Company | Quarter | Revenue | Y/Y | Op. margin |
|---|---|---|---|---|
| ABUS Arbutus Biopharma | Q2 2026 | $1.0M | -91% | -588.2% |
| JNJ Johnson & Johnson | Q3 2026 | $25.4B | +6% | 0.1% |
| LLY ELI Lilly | Q3 2026 | $24.4B | +39% | 34.5% |
| MRK Merck | Q3 2026 | $18.1B | +5% | 30.7% |
| ABBV AbbVie | Q3 2026 | $17.4B | +10% | 36.0% |
| PFE Pfizer | Q3 2026 | $16.6B | -0.4% | 20.4% |
| BMY Bristol Myers Squibb | Q3 2026 | $13.1B | +7% | 19.4% |
| ABT Abbott Laboratories | Q3 2026 | $13.0B | +14% | 10.4% |
| REGN Regeneron Pharmaceuticals | Q3 2026 | $5.1B | +36% | 40.0% |
Source: Arbutus Biopharma 10-Q on SEC EDGAR · CIK 1447028 · Pharmaceutical Preparations
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History
Every quarter: Q2 2026 results · Q1 2026 results · Q4 2025 results · Q3 2025 results · Q2 2025 results · Q1 2025 results · Q4 2024 results