secwatch.observer — SEC 8-K summary
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Issuer:     Emergent BioSolutions Inc. (EBS)
CIK:        0001367644
Form:       8-K
Filed at:   2023-05-09T23:59:59+00:00
Accession:  0001367644-23-000087
Event type: earnings
Sentiment:  negative
Materiality: 0.80
Item codes: 2.02, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1367644/000136764423000087/0001367644-23-000087-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1367644/000136764423000087/ebs-20230509.htm
  HTML page:      https://secwatch.observer/filing/0001367644-23-000087

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