Filing Flows › Emergent BioSolutions (EBS) › Q3 2026
Emergent BioSolutions (EBS) Q3 2026 earnings results (third quarter 2026)
10-Q filed Nov 3, 2026
Emergent BioSolutions (EBS) reported revenue of $110M for the third quarter 2026 (Q3 2026), -52% from a year earlier and -53% from the quarter before. Operating margin was -33.9%, net loss $32.7M (29.7% of revenue).
Emergent BioSolutions, Q3 2026: revenue $110M (-52% year over year), operating margin -33.9%, net loss $32.7M, operating cash flow $100M. The chart follows the revenue to costs, profit and cash.
| Q3 2026 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $110M | -53% | -52% |
| Operating profit | −$37.3M | — | -149% |
| Net earnings | −$32.7M | — | -164% |
| Operating cash flow | $100M | +78% | — |
| Free cash flow | $96.8M | +79% | — |
What changed
Revenue was $110.0M in Q3 2026, down 52% year over year and down 53% from the previous quarter. MCM Product sales was the largest line at 54% of revenue. MCM Product sales lost $83.1M year over year (down 58%), 69% of the total change.
Operating costs exceeded revenue by $37.3M, an operating margin of -33.9%. Total costs fell 5% while revenue fell 52%. The fastest-growing cost line was SG&A (+20%). The quarter ended with a net loss of $32.7M, narrower than the previous quarter's $180.2M loss.
Operating cash flow was $100.1M. Non-cash charges added back $17.0M of depreciation and amortization and $4.2M of share-based compensation. Working capital and other items added $111.6M. Capital expenditures of $3.3M left free cash flow of $96.8M.
Questions
What was Emergent BioSolutions' revenue in the third quarter 2026?
Emergent BioSolutions (EBS) reported revenue of $110M for the third quarter 2026 (Q3 2026), -52% from a year earlier and -53% from the quarter before.
Was Emergent BioSolutions profitable in the third quarter 2026?
Operating loss was $37.3M (-33.9% of revenue) and net loss $32.7M.