---
schema_version: "secwatch.filing_event.v1"
accession: "0001367644-23-000087"
form_type: "8-K"
ticker: "EBS"
cik: "0001367644"
company_name: "Emergent BioSolutions Inc."
filed_at: "2023-05-09T23:59:59+00:00"
generated_at: "2026-06-15T08:37:57.028426+00:00"
event_type: "earnings"
sentiment: "negative"
materiality_score: 0.8
calibrated_materiality_score: 0.8
confidence: "high"
source: SEC EDGAR
---

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

## Summary
- 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.

## SEC filing metadata
- accession: 0001367644-23-000087
- form_type: 8-K
- ticker: EBS
- cik: 0001367644
- company_name: Emergent BioSolutions Inc.
- filed_at: 2023-05-09T23:59:59+00:00
- event_type: earnings
- sentiment: negative
- materiality_score: 0.8
- calibrated_materiality_score: 0.8
- confidence: high
- sec_items: 2.02, 7.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1367644/000136764423000087/0001367644-23-000087-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1367644/000136764423000087/ebs-20230509.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001367644-23-000087
- JSON: https://secwatch.observer/filing/0001367644-23-000087.json
- Plain text: https://secwatch.observer/filing/0001367644-23-000087.txt

## Key facts
- Earnings Releases
  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
  source text: Reports Q1 2023 total revenues of $165M, above the prior guidance range, net loss of $183M and adjusted EBITDA of negative $101M
  evidence_url: https://www.sec.gov/Archives/edgar/data/1367644/000136764423000087/0001367644-23-000087-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.