Filing Flows › Northwest Biotherapeutics (NWBO) › Q1 2026
Northwest Biotherapeutics (NWBO) Q1 2026 earnings results (first quarter 2026)
10-Q filed May 15, 2026
Northwest Biotherapeutics (NWBO) reported revenue of $494K for the first quarter 2026 (Q1 2026), +32% from a year earlier and -26% from the quarter before.
Northwest Biotherapeutics, Q1 2026: revenue $494K (+32% year over year), net earnings $3.1M, operating cash flow −$12.5M. The chart follows the revenue to costs, profit and cash.
| Q1 2026 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $494K | -26% | +32% |
| Operating profit | −$10.9M | — | — |
| Net earnings | $3.1M | — | — |
| Operating cash flow | −$12.5M | — | — |
What changed
Revenue was $494K in Q1 2026, up 32% year over year and down 26% from the previous quarter.
Operating costs exceeded revenue by $10.9M, an operating margin of -2206.5%. Total costs fell 36% while revenue rose 32%. Net earnings were −$3.1M. The effective tax rate was 0.0%. Non-operating items added $14.0M, 452% of pre-tax earnings, so the bottom line overstates operating performance.
Operating cash flow was −$12.5M. Non-cash charges added back $771K of depreciation and amortization and $288K of share-based compensation. Working capital and other items used $16.7M. Capital expenditures of $129K exceeded it, leaving free cash flow of −$12.6M.
Questions
What was Northwest Biotherapeutics' revenue in the first quarter 2026?
Northwest Biotherapeutics (NWBO) reported revenue of $494K for the first quarter 2026 (Q1 2026), +32% from a year earlier and -26% from the quarter before.