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Agenus (AGEN) Q3 2026 earnings results (third quarter 2026)
10-Q filed Nov 5, 2026
Agenus (AGEN) reported revenue of $31.5M for the third quarter 2026 (Q3 2026), +4% from a year earlier and -9% from the quarter before. Operating margin was 36.2%, net earnings $1.5M (4.8% of revenue).
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 follows the revenue to costs, profit and cash.
| Q3 2026 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $31.5M | -9% | +4% |
| Operating profit | $11.4M | +1% | — |
| Net earnings | $1.5M | — | -98% |
| Operating cash flow | −$20.1M | — | — |
What changed
Revenue was $31.5M in Q3 2026, up 4% year over year and down 9% from the previous quarter. Non Cash Royalty Revenue Related to the Sale of Future Royalties was the largest line at 81% of revenue. Non Cash Royalty Revenue Related to the Sale of Future Royalties declined 13%.
Operating profit was $11.4M, a 36.2% margin (up 51.3 points year over year). Total costs fell 42% while revenue rose 4%. Net earnings were $1.5M, down 98% year over year. The effective tax rate was 0.0%.
Operating cash flow was −$20.1M. Non-cash charges added back $513K of depreciation and amortization and $2.9M of share-based compensation. Working capital and other items used $26.3M.
Questions
What was Agenus' revenue in the third quarter 2026?
Agenus (AGEN) reported revenue of $31.5M for the third quarter 2026 (Q3 2026), +4% from a year earlier and -9% from the quarter before.
Was Agenus profitable in the third quarter 2026?
Operating profit was $11.4M (36.2% of revenue) and net earnings $1.5M.
Source: Agenus 10-Q on SEC EDGAR.