Filing Flows › Agenus (AGEN) › Q3 2026 › vs Q2 2026
Agenus (AGEN) Q3 2026 vs Q2 2026 (quarter over quarter)
Agenus's revenue fell $3.0M (-9%) from $34.5M in Q2 2026 to $31.5M in Q3 2026. The biggest changes: Non Cash Royalty Revenue Related to the Sale of Future Royalties −$2.7M (-10%); Pre Commercial Product Revenue −$294K (-5%). Operating margin 36.2% against 32.7% (+3.5 pts).
Agenus, Q3 2026: revenue $31.5M (+4% year over year), operating margin 36.2%, net earnings $1.5M, operating cash flow −$20.1M. The chart draws each line against Q2 2026, the increases inside each band.
Margins
| Q3 2026 | Q2 2026 | Change | |
|---|---|---|---|
| Operating margin | 36.2% | 32.7% | +3.5 pts |
| Net margin | 4.8% | -1.7% | +6.6 pts |
Every line
| Line | Q3 2026 | Q2 2026 | Change | % |
|---|---|---|---|---|
| Non Cash Royalty Revenue Related to the Sale of Future Royalties | $25.4M | $28.1M | −$2.7M | -10% |
| Pre Commercial Product Revenue | $6.1M | $6.4M | −$294K | -5% |
| Revenue | $31.5M | $34.5M | −$3.0M | -9% |
| Operating profit | $11.4M | $11.3M | $115K | +1% |
| Costs & expenses | $20.1M | $23.2M | −$3.1M | -14% |
| Pre-tax earnings | $2.7M | −$567K | $3.3M | — |
| Other expense, net | $8.7M | $11.9M | −$3.2M | -27% |
| Research & development | $11.6M | $14.8M | −$3.1M | -21% |
| General & admin | $8.4M | $8.5M | −$32K | -0.4% |
| Net earnings | $1.5M | −$604K | $2.1M | — |
| Minority interests | $1.2M | $37K | $1.2M | 33× |
| Operating cash sources | $25.1M | $34.7M | −$9.7M | -28% |
| Depreciation & amortization | $513K | $517K | −$4K | -0.8% |
| Share-based compensation | $2.9M | $3.6M | −$668K | -19% |
| Cash used in operations | $20.1M | $31.2M | −$11.1M | -36% |
| Working capital & other | $25.1M | $34.7M | −$9.7M | -28% |
Questions
How much did Agenus's revenue grow quarter over quarter in Q3 2026?
Agenus's revenue fell $3.0M (-9%) from $34.5M in Q2 2026 to $31.5M in Q3 2026.
What drove Agenus's revenue change in Q3 2026?
Non Cash Royalty Revenue Related to the Sale of Future Royalties −$2.7M (-10%); Pre Commercial Product Revenue −$294K (-5%).