Emergent BioSolutions (EBS) Company Report

Emergent BioSolutions reported full-year 2025 adjusted EBITDA of $205 million and adjusted net income per share of $1.53, marking a significant improvement from a loss in 2024.
The company strengthened its financial position in 2025, reducing net leverage to 1.9 times from 3.3 times and ending the year with $205 million in cash.
For 2026, Emergent BioSolutions projects total revenues between $720 million and $760 million and adjusted EBITDA between $135 million and $155 million, with adjusted net income expected between $25 million and $45 million.
The Board approved a new $50 million share repurchase authorization through March 31, 2027, building on the 3.11 million shares repurchased in 2025.

1 day ago

Transcript

Emergent BioSolutions Announces Q4 and Full Year 2025 Financial Results and 2026 Guidance

EBS

Earnings

Guidance Update

Share Buyback

Emergent BioSolutions reported FY 2025 revenues of $743 million and Adjusted EBITDA of $205 million with a 28% margin, which was at the high end of their FY guidance range.
The company achieved FY 2025 Adjusted Net Income per Diluted Share of $1.53.
Financial metrics showed significant improvement, with $110 million in debt paydown during 2025 and net leverage reducing to 1.9x at year-end 2025 from 3.3x in Q4 2024.
Emergent BioSolutions repurchased 3.1 million shares for $24.8 million in 2025 and reauthorized a new $50 million share repurchase program through March 2027.
For FY 2026, the company provided guidance of total revenues between $720 million and $760 million and Adjusted EBITDA between $135 million and $155 million.

1 day ago

Presentation

Emergent BioSolutions Reports Strong 2025 Financial Results and Provides 2026 Guidance

EBS

Earnings

Guidance Update

Share Buyback

Emergent BioSolutions reported full-year 2025 adjusted EBITDA of $205 million, a 12% increase year-over-year, and total revenues of $743 million. The company achieved an adjusted net income per share of $1.53 for 2025, reversing a loss from the prior year.
The company significantly strengthened its financial position by reducing net leverage to 1.9x from 3.3x in December 2024 and paid down $110 million of gross debt, ending 2025 with $205 million in cash.
Emergent BioSolutions repurchased 3.11 million shares in 2025 and authorized a new $50 million share repurchase program through March 2027.
For full-year 2026, total revenues are projected to be between $720 million and $760 million, with adjusted EBITDA anticipated between $135 million and $155 million. This guidance reflects the absence of a strong $60 million international customer order from 2025 that contributed $50 million to adjusted EBITDA in that year.

1 day ago

Transcript

Emergent BioSolutions Reports Strong Full-Year 2025 Results and Issues 2026 Guidance

EBS

Earnings

Guidance Update

Share Buyback

Emergent BioSolutions (EBS) reported full-year 2025 adjusted EBITDA of $205 million and total revenues of $743 million, with adjusted net income per share reversing to $1.53 from a loss in 2024.
The company significantly strengthened its financial position in 2025, reducing net leverage to 1.9 times from 3.3 times in December 2024 and ending the year with $205 million in cash.
For full-year 2026, Emergent BioSolutions provided guidance of total revenues between $720 million and $760 million and adjusted EBITDA between $135 million and $155 million.
The Board approved a new $50 million share repurchase authorization through March 31, 2027, complementing $110 million in gross debt repayment during 2025 and securing new biodefense contracts.

1 day ago

Transcript

Emergent BioSolutions Reports Fourth Quarter and Full Year 2025 Financial Results

EBS

Earnings

Guidance Update

Share Buyback

For the full year ended December 31, 2025, Emergent BioSolutions reported total revenues of $742.9 million, net income of $52.6 million, and Adjusted EBITDA of $205.0 million.
In the fourth quarter of 2025, the company recorded total revenues of $148.7 million and a net loss of $54.6 million.
The company provided a full year 2026 forecast, projecting total revenues between $720 million and $760 million, and Adjusted EBITDA between $135 million and $155 million.
Emergent BioSolutions continued its multi-year turnaround strategy, achieving $110 million in gross debt paydown and repurchasing 3.1 million shares for $24.8 million during 2025.

1 day ago

8-K

Emergent BioSolutions Reports Q4 and Full Year 2025 Financial Results

EBS

Earnings

Guidance Update

Share Buyback

Emergent BioSolutions reported Full Year 2025 Total Revenues of $742.9 million and a Net Income of $52.6 million, a significant improvement from a net loss of $190.6 million in the prior year.
The company achieved Full Year 2025 Adjusted EBITDA of $205.0 million, an increase from $183.1 million in 2024, demonstrating improved operating margins.
For the Fourth Quarter 2025, Total Revenues were $148.7 million, resulting in a Net Loss of $54.6 million.
Emergent BioSolutions provided Full Year 2026 revenue guidance of $720 million to $760 million and Adjusted EBITDA guidance of $135 million to $155 million.
In 2025, the company repurchased $24.8 million of common stock and authorized a new plan for up to $50.0 million in repurchases through March 2027, while also making a $100.0 million voluntary debt payment.

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Press Release

Emergent BioSolutions Reports Progress on Turnaround Plan and Financials

EBS

Guidance Update

Share Buyback

New Projects/Investments

Emergent BioSolutions (EBS) provided FY 2025 revenue guidance of $775 - $835 million and Adjusted EBITDA guidance of $195 - $210 million, as of October 29, 2025.
The company is on track with its multi-year turnaround plan, having reduced debt by $100 million in December 2025 and targeting a Net Leverage Ratio of 2.0x – 3.0x Adjusted EBITDA.
EBS reported YTD 2025 Adjusted EBITDA of $194 million, an increase from $162 million in YTD 2024, reflecting improved operating efficiency and increased profitability.
Capital allocation priorities for 2026 include growth investments, debt repayment, and share repurchases, with 2.3 million shares repurchased for $15.8 million through Q3 2025.
The company maintains a diverse portfolio in biodefense/medical countermeasures (MCM) and naloxone, with international orders representing 34% of total MCM revenues in the first nine months ending September 30, 2025.

Jan 15, 2026, 1:15 AM

Presentation

Emergent BioSolutions Details Turnaround Progress and 2026 Growth Strategy

EBS

New Projects/Investments

Share Buyback

Revenue Acceleration/Inflection

Emergent BioSolutions is executing a multi-year turnaround plan, having completed the stabilization phase in 2024-2025 by divesting $150 million in assets, reducing operating expenses by $250 million, and decreasing total debt by $275 million since 2023.
The company achieved significant financial improvements, with Adjusted EBITDA rising from negative in 2023 to $183 million in 2024 and projected $195-$210 million in 2025, and Adjusted EBITDA margin increasing from 19% in 2024 to 33% in 2025. Net leverage has been reduced from 9.9 times to approximately 2 times.
For 2026, the company is focusing on growth investments, including organic growth in biodefense and opioid overdose products, geographic expansion (with ex-U.S. revenue increasing from 15% to 34%), and inorganic growth opportunities.
Emergent announced FDA approval for a Narcan pack on January 15, 2026, and anticipates the overall naloxone unit volume market to grow in the mid-single digits.
The 2026 capital allocation strategy includes growth investments, continued debt repayment, and a share repurchase program that runs through March 2026.

Jan 15, 2026, 1:15 AM

Transcript

Emergent Provides Update on Multi-Year Turnaround Plan and 2026 Outlook

EBS

Guidance Update

New Projects/Investments

Share Buyback

Emergent has completed the stabilization phase (2024-2025) of its multi-year turnaround plan, achieving significant improvements including an increase in Adjusted EBITDA from negative in 2023 to $183 million in 2024 and a projected $195-$210 million for 2025. The company also reduced total debt by $275 million since 2023, bringing net leverage down to approximately 2.0 times.
The company's focus for 2025-2026 is on growth investments, encompassing organic growth in its biodefense product portfolio, geographic expansion which has increased non-U.S. revenue from 15% to 34% in the first nine months of 2025, and inorganic growth through business development opportunities.
Emergent recently launched a Narcan pack to improve access to its opioid overdose treatment and anticipates the overall naloxone unit volume market to grow at a mid-single digit rate.
For 2026, capital allocation priorities include growth investments, continued debt repayment, and a share repurchase program that runs through March 2026.

Jan 15, 2026, 1:15 AM

Transcript

Emergent BioSolutions Updates on Turnaround Plan Progress and 2026 Outlook

EBS

Guidance Update

Debt Issuance

Share Buyback

Emergent BioSolutions is progressing with its multi-year turnaround plan, having achieved $183 million in Adjusted EBITDA in 2024 and projecting $195 million-$210 million for 2025.
The company has significantly reduced its total debt by approximately $275 million since 2023, lowering net leverage from 9.9x to about 2.0x.
Strategic priorities for 2025-2026 include investing in organic growth for biodefense products, expanding international revenue to 34% of the medical countermeasure business, and pursuing inorganic growth opportunities.
Emergent recently launched a FDA-approved Narcan pack to increase accessibility and anticipates the overall naloxone unit volume market to grow at a mid-single digit rate in the future.
For 2026, capital allocation will focus on growth investments, continued debt repayment, and a share repurchase program running through March 2026.