Fred Gatali's questions to ATS Corp (ATS) leadership • Q1 2026
Question
Fred Gatali, on for Michael Glenn, inquired about the diversification of the auto-injector business beyond GLP-1 drugs, the reasons for slower Life Sciences bookings in the quarter, and the timeline for improving working capital.
Answer
CFO Ryan McLeod explained that while the auto-injector business is majority GLP-1, it is diversified across 10 active customers with new drug applications being researched. He attributed the slower bookings to normal-course variability in the timing of large programs. McLeod reiterated the goal of reaching the 15% working capital target by the end of the fiscal year, with opportunities in inventory management and payment terms.