Filing Flows › Agenus (AGEN) › How it makes money
How Agenus (AGEN) makes money
Agenus (AGEN) made $31.5M of revenue in the third quarter 2026 (Q3 2026), +8% from a year earlier. Non Cash Royalty Revenue Related to the Sale of Future Royalties brought in $25.4M (81%); Pre Commercial Product Revenue brought in $6.1M (19%). Of every dollar of revenue, 36¢ was left as operating profit, 5¢ was left as net earnings.
Drawing the Sankey…
Revenue by segment, Q3 2026
| Segment | Revenue | Share | Q/Q | Y/Y |
|---|---|---|---|---|
| Non Cash Royalty Revenue Related to the Sale of Future Royalties | $25.4M | 80.7% | -10% | -13% |
| Pre Commercial Product Revenue | $6.1M | 19.3% | -5% | — |
Where each dollar of revenue goes
| Line | Q3 2026 | % of revenue |
|---|---|---|
| Revenue | $31.5M | 100.0% |
| Operating profit | $11.4M | 36.2% |
| Net earnings | $1.5M | 4.8% |
Revenue, quarter by quarter
| Quarter | Revenue | Y/Y |
|---|---|---|
| Q3 2026 | $31.5M | +4% |
| Q2 2026 | $34.5M | +34% |
| Q1 2026 | $33.7M | +40% |
| Q4 2025 | $34.2M | +28% |
| Q3 2025 | $30.2M | +20% |
| Q2 2025 | $25.7M | +9% |
| Q1 2025 | $24.1M | -14% |
From Agenus' 10-Q filed Nov 5, 2026 (on EDGAR).
Questions
How does Agenus make money?
Agenus (AGEN) made $31.5M of revenue in the third quarter 2026 (Q3 2026), +8% from a year earlier. Non Cash Royalty Revenue Related to the Sale of Future Royalties brought in $25.4M (81%); Pre Commercial Product Revenue brought in $6.1M (19%). Of every dollar of revenue, 36¢ was left as operating profit, 5¢ was left as net earnings.
What is Agenus' biggest business?
Non Cash Royalty Revenue Related to the Sale of Future Royalties: $25.4M in the third quarter 2026, 81% of revenue, -13% from a year earlier.
What is Agenus' profit margin?
Net earnings were $1.5M, 4.8% of revenue, in the third quarter 2026; the operating margin was 36.2%.
Updated Nov 8, 2026. Read automatically from SEC filings and public data; errors are possible. Not investment advice.