Emergent BioSolutions cuts full-year 2026 revenue and EBITDA guidance

Emergent BioSolutions Inc. presented updated financial guidance in slides filed with a Form 8-K dated September 14, 2026, ahead of CEO Joseph Papa's appearance at the H.C. Wainwright 28th Annual Global Investment Conference.

The company revised its full-year 2026 total revenue guidance to a range of $645 million to $675 million, down from a prior forecast of $720 million to $760 million issued as of April 30, 2026 and February 26, 2026.¹

Adjusted EBITDA guidance was also cut. The company now expects Adjusted EBITDA of $130 million to $150 million, revised down from a prior range of $155 million to $175 million.¹

Net loss guidance widened as well, with the company now projecting a net loss of $245 million to $225 million, compared with a prior forecast of a $30 million to $10 million loss.¹ The company said the revised net loss figure reflects approximately a $191 million non-cash impairment charge recorded in the second quarter.¹

For the third quarter, the company set revenue guidance at $110 million to $130 million.¹

Adjusted gross margin guidance for the full year was also lowered to 42% to 44%, down from a prior range of 45% to 47%.¹

The company attributed part of the pressure to its naloxone business, noting intensifying competition in its naloxone business and new financial pressures resulting from these market dynamics that the company said it must address to deliver value for patients while creating long-term shareholder value.¹ Separately, the company disclosed a restructuring effort expected to yield annualized savings of approximately $40 million, including a reduction of 90 roles and vacant positions.¹