Emergent Q1 revenue falls 46% to $165M, net loss $183M; updates FY guidance, divests travel health

Emergent BioSolutions Inc.

2023-Q1 EPS reported -$3.65 revenue$165,100,000

Total revenue $165.1M, down 46% YoY; net loss $183M ($3.65 loss per share) vs $3.7M loss in Q1 2022.
NARCAN sales up 8% to $100.4M; Anthrax MCM down 80% to $21.9M; CDMO revenue down 75%.
Adjusted EBITDA negative $101M vs positive $36M in Q1 2022; adjusted gross margin fell to 4%.
FY 2023 total revenue guidance unchanged at $1.1-1.2B; adjusted EBITDA raised to $100-150M; adjusted gross margin lowered to 39-42%.
Agreed to sell travel health business to Bavarian Nordic for up to $380M; expects to amend debt terms.

item 2.02 item 7.01 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

Emergent BioSolutions Inc. reported the first quarter ended March 31, 2023 results: revenue $165M, net income $183M, EPS $(3.65) per diluted share.

Period: the first quarter ended March 31, 2023
Revenue: $165M
Net income: $183M
EPS: $(3.65) per diluted share
Result: reported results

Exact text from the filing

Reports Q1 2023 total revenues of $165M, above the prior guidance range, net loss of $183M and adjusted EBITDA of negative $101M

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Source: SEC EDGAR

accession 0001367644-23-000087

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