Filing Flows › Emergent BioSolutions (EBS) › Q1 2026
Emergent BioSolutions (EBS) Q1 2026 earnings results (first quarter 2026)
10-Q filed May 1, 2026
Emergent BioSolutions (EBS) reported revenue of $156M for the first quarter 2026 (Q1 2026), -30% from a year earlier and +5% from the quarter before. Operating margin was 6.7%, net earnings $6.8M (4.4% of revenue).
Emergent BioSolutions, Q1 2026: revenue $156M (-30% year over year), operating margin 6.7%, net earnings $6.8M, operating cash flow −$33.8M. The chart follows the revenue to costs, profit and cash.
| Q1 2026 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $156M | +5% | -30% |
| Operating profit | $10.5M | — | -79% |
| Net earnings | $6.8M | — | -90% |
| Operating cash flow | −$33.8M | -144% | — |
What changed
Revenue was $156.1M in Q1 2026, down 30% year over year and up 5% from the previous quarter. MCM Product sales was the largest line at 65% of revenue. MCM Product sales lost $54.8M year over year (down 35%), 83% of the total change.
Operating profit was $10.5M, a 6.7% margin (down 15.7 points year over year). Total costs fell 15% while revenue fell 30%. Net earnings were $6.8M, down 90% year over year. The effective tax rate was 49.3%. Non-operating items added $2.9M, 22% of pre-tax earnings, so the bottom line overstates operating performance.
Operating cash flow was −$33.8M. Non-cash charges added back $23.5M of depreciation and amortization and $1.9M of share-based compensation. Working capital and other items used $66.0M. Capital expenditures of $2.4M exceeded it, leaving free cash flow of −$36.2M.
Questions
What was Emergent BioSolutions' revenue in the first quarter 2026?
Emergent BioSolutions (EBS) reported revenue of $156M for the first quarter 2026 (Q1 2026), -30% from a year earlier and +5% from the quarter before.
Was Emergent BioSolutions profitable in the first quarter 2026?
Operating profit was $10.5M (6.7% of revenue) and net earnings $6.8M.