Filing Flows › Fortress Biotech (FBIO) › Q1 2026
Fortress Biotech (FBIO) Q1 2026 earnings results (first quarter 2026)
10-Q filed May 14, 2026
Fortress Biotech (FBIO) reported revenue of $16.0M for the first quarter 2026 (Q1 2026), +22% from a year earlier and -0.3% from the quarter before. Operating margin was -48.3%, net earnings $137M (855.2% of revenue).
Fortress Biotech, Q1 2026: revenue $16.0M (+22% year over year), operating margin -48.3%, net earnings $137M, operating cash flow $204M. The chart follows the revenue to costs, profit and cash.
| Q1 2026 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $16.0M | -0.3% | +22% |
| Operating profit | −$7.7M | — | — |
| Net earnings | $137M | — | — |
| Operating cash flow | $204M | — | — |
What changed
Revenue was $16.0M in Q1 2026, up 22% year over year and roughly flat from the previous quarter. Emrosi was the largest line at 39% of revenue. Emrosi added $4.2M year over year (up 202%), 144% of the total change. Other / legacy product revenue declined 62%.
Operating costs exceeded revenue by $7.7M, an operating margin of -48.3%. Total costs fell 33% while revenue rose 22%. The fastest-growing cost line was Cost of revenue (+30%). Net earnings were $110.4M. The effective tax rate was 3.6%. Non-operating items added $150.0M, 105% of pre-tax earnings, so the bottom line overstates operating performance.
Operating cash flow was $203.9M, 149% of net income including minority interests. Non-cash charges added back $1.2M of depreciation and amortization and $1.8M of share-based compensation. Working capital and other items added $63.7M.
Questions
What was Fortress Biotech's revenue in the first quarter 2026?
Fortress Biotech (FBIO) reported revenue of $16.0M for the first quarter 2026 (Q1 2026), +22% from a year earlier and -0.3% from the quarter before.
Was Fortress Biotech profitable in the first quarter 2026?
Operating loss was $7.7M (-48.3% of revenue) and net earnings $137M.
Source: Fortress Biotech 10-Q on SEC EDGAR.