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Northwest Biotherapeutics (NWBO) earnings and revenue breakdown
Latest: Q2 2026 · 10-Q filed Aug 14, 2026 · Northwest Biotherapeutics (NWBO) Q2 2026 earnings results →
Q2 2026 Revenue up 516% year over year to $807K
Northwest Biotherapeutics made $807K in Q2 2026 (+516% Y/Y). Operating margin n/m, net loss $15.4M. 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 $807K in Q2 2026, up 516% year over year and up 63% from the previous quarter.
Operating costs exceeded revenue by $11.6M, an operating margin of -1438.0%. Total costs fell 17% while revenue rose 516%. The quarter ended with a net loss of $15.4M, after a profit of $3.1M the previous quarter. Minority interests bore $6.2M of it: to shareholders the quarter was a loss of $9.2M.
Operating cash flow was −$7.2M. Non-cash charges added back $774K of depreciation and amortization and $181K of share-based compensation. Working capital and other items added $7.3M. Capital expenditures of $198K exceeded it, leaving free cash flow of −$7.4M.
Quarterly history
| Quarter | Form | Filed | Revenue | Y/Y | Op. margin | Net earnings | Op. cash flow |
|---|---|---|---|---|---|---|---|
| Q2 2026 | 10-Q | Aug 14, 2026 | $807K | +516% | n/m | −$15.4M | −$7.2M |
| Q1 2026 | 10-Q | May 15, 2026 | $494K | +32% | n/m | $3.1M | −$12.5M |
| Q4 2025 | 10-K | Apr 15, 2026 | $672K | +191% | n/m | −$122M | −$14.8M |
| Q3 2025 | 10-Q | Nov 14, 2025 | $200K | -44% | n/m | $96.3M | −$13.9M |
| Q2 2025 | 10-Q | Aug 14, 2025 | $131K | -74% | n/m | −$15.4M | −$6.7M |
| Q1 2025 | 10-Q | May 15, 2025 | $375K | +32% | n/m | −$19.3M | −$9.4M |
| Q4 2024 | 10-K | Mar 31, 2025 | $231K | -48% | n/m | −$28.2M | −$20.2M |
Charts
Interactive views
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💵Where each $1 goesinteractive
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🌏Named in Asian annual reportsinteractive
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🔄Rotation against the market and its industry (RRG)interactive
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🔍Earnings qualityinteractive
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⚖️Fair value by methodinteractive
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🔭Outlook & guidanceinteractive
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📈Investments: gains and what it boughtinteractive
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🏭Its industry’s money flow (input-output)interactive
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About Northwest Biotherapeutics
We are a biotechnology company focused on developing personalized immune therapies for cancer. We have developed a platform technology, DCVax®, which uses activated dendritic cells to mobilize a patient’s own immune system to attack their cancer. Our lead product, DCVax®-L, is designed to treat solid tumor cancers in which the tumor can be surgically removed. We have completed a 331-patient international Phase III trial of DCVax-L for Glioblastoma multiforme brain cancer (GBM), published the results in the JAMA Oncology peer reviewed journal, and on December 20, 2023 we submitted a Marketing Authorization Application (MAA) for commercial approval in the U.K. We plan to conduct clinical trials of DCVax-L for other solid tumor cancers in the future, when resources permit. Our second product, DCVax®-Direct, is designed to treat inoperable solid tumors.
In its own words, from its 10-K, filed Apr 15, 2026.
Northwest Biotherapeutics against its Pharmaceutical Preparations peers
The largest companies of the same SEC industry, each at its latest quarter. Revenue growth: +516% against the peers' median +10%.
| Company | Quarter | Revenue | Y/Y | Op. margin |
|---|---|---|---|---|
| NWBO Northwest Biotherapeutics | Q2 2026 | $807K | +516% | 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: Northwest Biotherapeutics 10-Q on SEC EDGAR · CIK 1072379 · Pharmaceutical Preparations
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More on NWBO
History
Every quarter: Q2 2026 results · Q1 2026 results · Q4 2025 results · Q3 2025 results · Q2 2025 results · Q1 2025 results · Q4 2024 results