---
schema_version: "secwatch.filing_event.v1"
accession: "0001367644-24-000026"
form_type: "8-K"
ticker: "EBS"
cik: "0001367644"
company_name: "Emergent BioSolutions Inc."
filed_at: "2024-03-06T23:59:59+00:00"
generated_at: "2026-06-05T02:27:35.466144+00:00"
event_type: "earnings"
sentiment: "negative"
materiality_score: 0.85
calibrated_materiality_score: 0.85
confidence: "high"
source: SEC EDGAR
---

# Emergent posts Q4 loss of $50M, FY loss of $760.5M; secures lender forbearance until April 30

## Summary
- Q4 2023 total revenues $277M, down 16% YoY; net loss $49.5M ($0.95 diluted loss); adjusted EBITDA $3M.
- Full year 2023 total revenues $1.05B, down 6% YoY; net loss $760.5M ($14.85 diluted loss); adjusted net loss $319M.
- FY 2024 guidance: revenues $900M-$1.1B, adjusted EBITDA $50M-$100M, total segment adj. gross margin 40%-45%.
- NARCAN sales grew 22% to $111M in Q4; OTC launch and FDA approval of CYFENDUS anthrax vaccine noted.
- On Feb 29, 2024, entered forbearance agreement through April 30, 2024; interest rate increased to 6.5% and revolver cap at $270M.

## SEC filing metadata
- accession: 0001367644-24-000026
- form_type: 8-K
- ticker: EBS
- cik: 0001367644
- company_name: Emergent BioSolutions Inc.
- filed_at: 2024-03-06T23:59:59+00:00
- event_type: earnings
- sentiment: negative
- materiality_score: 0.85
- calibrated_materiality_score: 0.85
- confidence: high
- sec_items: 1.01, 2.02, 2.03, 7.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1367644/000136764424000026/0001367644-24-000026-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1367644/000136764424000026/ebs-20240229.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001367644-24-000026
- JSON: https://secwatch.observer/filing/0001367644-24-000026.json
- Plain text: https://secwatch.observer/filing/0001367644-24-000026.txt

## Key facts
- Earnings Releases
  Emergent BioSolutions Inc. reported the quarter and year ended December 31, 2023 results: revenue $1,049.3, net income $ (760.5), EPS $ (14.85). Guidance raised.
  - Period: the quarter and year ended December 31, 2023
  - Revenue: $1,049.3
  - Net income: $ (760.5)
  - EPS: $ (14.85)
  - Guidance: raised
  - Result: reported results
  source text: Gross Margin % (2) 32 % 48 % * % change is greater than +/- 100% Full Year 2023 vs. Full Year 2022 ($ in millions, except per share amounts) 2023 2022 % Change Total Revenues $ 1,049.3 $ 1,117.5 (6) % Net Loss $ (760.5) $ (211.6) * Net Loss per Diluted Share $ (14.85) $ (4.22) * Adjusted Net Loss (2) $ (319.0) $ (99.7) * Adjusted Net Loss per Diluted Share (2) $
  evidence_url: https://www.sec.gov/Archives/edgar/data/1367644/000136764424000026/0001367644-24-000026-index.htm
- Material Agreements
  Emergent BioSolutions Inc. amended Forbearance Agreement and Sixth Amendment to Amended and Restated Credit Agreement with Wells Fargo Bank, National Association, as administrative agent, and certain lenders valued at $270 million (effective 2024-02-29).
  - Action: amendment
  - Agreement: credit facility
  - Counterparty: Wells Fargo Bank, National Association, as administrative agent, and certain lenders
  - Value: $270 million
  - Effective: 2024-02-29
  source text: On February 29, 2024, Emergent BioSolutions Inc. (the “Company”) entered into a Forbearance Agreement and Sixth Amendment to Amended and Restated Credit Agreement (the “Forbearance Agreement and Amendment”), among the Company, as borrower, certain subsidiaries of the Company, as guarantors, Wells Fargo Bank, National Association, as administrative agent (in such capacity, the “Administrative Agent”) and certain lenders party thereto (the “Lenders”).
  evidence_url: https://www.sec.gov/Archives/edgar/data/1367644/000136764424000026/0001367644-24-000026-index.htm

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