Filing Flows › Health Care › HCW Biologics (HCWB)
HCW Biologics (HCWB) earnings and revenue breakdown
Latest: Q2 2026 · 10-Q filed Aug 14, 2026 · HCW Biologics (HCWB) Q2 2026 earnings results →
Q2 2026 Revenue up 1970% year over year to $136K
HCW Biologics made $136K in Q2 2026 (21× Y/Y). Operating margin n/m, net loss $5.2M. See where every dollar goes — costs, profit and cash — as a Sankey from the 10-Q filed Aug 14, 2026.
Drawing the Sankey…
Open the interactive Sankey → click any line for what the company wrote about it, compare Y/Y and Q/Q, export as PNG or PDF
What changed this quarter
Revenue was $136K in Q2 2026, up 1970% year over year and down 98% from the previous quarter.
Operating costs exceeded revenue by $3.2M, an operating margin of -2335.6%. The quarter ended with a net loss of $5.2M, after a profit of $3.5M the previous quarter.
Operating cash flow was −$4.0M. Non-cash charges added back $127K of depreciation and amortization and $1K of share-based compensation. Working capital and other items added $1.1M.
Quarterly history
| Quarter | Form | Filed | Revenue | Y/Y | Op. margin | Net earnings | Op. cash flow |
|---|---|---|---|---|---|---|---|
| Q2 2026 | 10-Q | Aug 14, 2026 | $136K | 21× | n/m | −$5.2M | −$4.0M |
| Q1 2026 | 10-Q | May 14, 2026 | $6.5M | 1,292× | 49.5% | $3.5M | −$1.6M |
| Q4 2025 | 10-K | Mar 31, 2026 | $27K | -93% | n/m | $719K | −$3.4M |
| Q3 2025 | 10-Q | Nov 14, 2025 | $16K | -96% | n/m | −$4.6M | −$3.2M |
| Q2 2025 | 10-Q | Aug 18, 2025 | $7K | -99% | n/m | −$1.9M | −$3.3M |
| Q1 2025 | 10-Q | May 15, 2025 | $5K | -100% | n/m | −$2.2M | −$3.5M |
| Q4 2024 | 10-K | Mar 28, 2025 | $395K | -70% | -797.2% | −$3.4M | −$2.8M |
Charts
Interactive views
The same charts as the app — open one to draw it.
💵Where each $1 goesinteractive
Loading the interactive chart…
🌏Named in Asian annual reportsinteractive
Loading the interactive chart…
🔄Rotation against the market and its industry (RRG)interactive
Loading the interactive chart…
🔍Earnings qualityinteractive
Loading the interactive chart…
⚖️Fair value by methodinteractive
Loading the interactive chart…
🔭Outlook & guidanceinteractive
Loading the interactive chart…
📈Investments: gains and what it boughtinteractive
Loading the interactive chart…
🏭Its industry’s money flow (input-output)interactive
Loading the interactive chart…
About HCW Biologics
HCW Biologics Inc. (“HCW Biologics” or the “Company”) is a clinical-stage biopharmaceutical company developing transformative fusion immunotherapeutics to support or treat diseases promoted by chronic inflammation. We have created novel compounds that represent a new class of drugs that we believe have the potential to fundamentally change the treatment of autoimmune disorders and other proinflammatory diseases, cancer and senescence-associated dysplasia. Among other things, we have begun commercialization of certain commercial-ready proprietary compounds for use as reagents in the production of immunotherapeutics for the treatment of infectious diseases and cancer. We want our products to improve patients’ healthspan as well as their quality of life, and possibly extend longevity.
In its own words, from its 10-K, filed Mar 31, 2026.
HCW Biologics against its Pharmaceutical Preparations peers
The largest companies of the same SEC industry, each at its latest quarter. Revenue growth: 21× against the peers' median +10%.
| Company | Quarter | Revenue | Y/Y | Op. margin |
|---|---|---|---|---|
| HCWB HCW Biologics | Q2 2026 | $136K | 21× | n/m |
| JNJ Johnson & Johnson | Q3 2026 | $25.4B | +6% | 0.1% |
| LLY ELI Lilly | Q3 2026 | $24.4B | +39% | 34.5% |
| MRK Merck | Q3 2026 | $18.1B | +5% | 30.7% |
| ABBV AbbVie | Q3 2026 | $17.4B | +10% | 36.0% |
| PFE Pfizer | Q3 2026 | $16.6B | -0.4% | 20.4% |
| BMY Bristol Myers Squibb | Q3 2026 | $13.1B | +7% | 19.4% |
| ABT Abbott Laboratories | Q3 2026 | $13.0B | +14% | 10.4% |
| REGN Regeneron Pharmaceuticals | Q3 2026 | $5.1B | +36% | 40.0% |
Source: HCW Biologics 10-Q on SEC EDGAR · CIK 1828673 · Pharmaceutical Preparations
13F: who owns HCWB and who is buying
More on HCWB
History
Every quarter: Q2 2026 results · Q1 2026 results · Q4 2025 results · Q3 2025 results · Q2 2025 results · Q1 2025 results · Q4 2024 results