secwatch.observer — SEC 8-K summary
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Issuer:     Emergent BioSolutions Inc. (EBS)
CIK:        0001367644
Form:       8-K
Filed at:   2024-03-06T23:59:59+00:00
Accession:  0001367644-24-000026
Event type: earnings
Sentiment:  negative
Materiality: 0.85
Item codes: 1.01, 2.02, 2.03, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1367644/000136764424000026/0001367644-24-000026-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1367644/000136764424000026/ebs-20240229.htm
  HTML page:      https://secwatch.observer/filing/0001367644-24-000026

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