Filing Flows › Emergent BioSolutions (EBS) › Q2 2026
Emergent BioSolutions (EBS) Q2 2026 earnings results (second quarter 2026)
10-Q filed Aug 6, 2026
Emergent BioSolutions (EBS) reported revenue of $234M for the second quarter 2026 (Q2 2026), +66% from a year earlier and +50% from the quarter before. Operating margin was -53.4%, net loss $180M (76.9% of revenue).
Emergent BioSolutions, Q2 2026: revenue $234M (+66% year over year), operating margin -53.4%, net loss $180M, operating cash flow $56.1M. The chart follows the revenue to costs, profit and cash.
| Q2 2026 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $234M | +50% | +66% |
| Operating profit | −$125M | -1291% | -7919% |
| Net earnings | −$180M | -2750% | — |
| Operating cash flow | $56.1M | — | -47% |
| Free cash flow | $54.0M | — | -48% |
What changed
Revenue was $234.3M in Q2 2026, up 66% year over year and up 50% from the previous quarter. MCM Product sales was the largest line at 72% of revenue. MCM Product sales added $109.6M year over year (up 188%), 117% of the total change. Commercial Product sales declined 22%.
Operating costs exceeded revenue by $125.1M, an operating margin of -53.4%. Total costs grew 158% against revenue growth of 66%. The fastest-growing cost line was Other operating costs (+1187%). The quarter ended with a net loss of $180.2M, after a profit of $6.8M the previous quarter.
Operating cash flow was $56.1M (down 47% year over year). Non-cash charges added back $24.0M of depreciation and amortization and $6.9M of share-based compensation. Working capital and other items added $205.4M. Capital expenditures of $2.1M left free cash flow of $54.0M.
Questions
What was Emergent BioSolutions' revenue in the second quarter 2026?
Emergent BioSolutions (EBS) reported revenue of $234M for the second quarter 2026 (Q2 2026), +66% from a year earlier and +50% from the quarter before.
Was Emergent BioSolutions profitable in the second quarter 2026?
Operating loss was $125M (-53.4% of revenue) and net loss $180M.