Emergent BioSolutions Inc. (EBS) Income Statement
EBS 2025 at a glance
Fiscal year ended December 31, 2025 · U.S. dollarsEBS revenue and net income
Where EBS's revenue goes
2025Each bar shows an amount and its share of revenue. EBS kept 7.1% of revenue as net income.
EBS profit margins
EBS growth rates
to 2025| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Revenue | −28.8% | −12.7% | −14.0% | +4.3% |
| Gross profit | −6.6% | −9.5% | −16.5% | +2.6% |
| Operating income | — | — | −24.1% | −2.5% |
| Net income | — | — | −29.7% | −1.8% |
| EPS (diluted) | — | — | −28.2% | +0.2% |
1-year change and average annual growth (CAGR) over 3, 5 and 10 fiscal years. "—" when a starting value was zero or negative.
EBS quarterly EPS vs estimates
Emergent BioSolutions beat the analyst EPS estimate in 6 of the last 8 quarters. Next report: November 2, 2026 (estimate $-0.45).
EBS income statement
| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $742.9M | $1.04B | $1.05B | $1.12B | $1.77B | $1.58B | $1.11B | $782.4M | $560.9M | $488.8M |
| Cost of revenue | $392.3M | $668.2M | $689.3M | $644.5M | $980.4M | $714.2M | $622.9M | $462.0M | $277.3M | $244.0M |
| Gross profit | $350.6M | $375.4M | $360.0M | $473.0M | $793.2M | $863.1M | $483.1M | $320.4M | $283.6M | $244.8M |
| Research & development | $53.8M | $70.7M | $111.4M | $188.3M | $235.2M | $237.9M | $226.2M | $142.8M | $97.4M | $106.9M |
| Sales, general & admin | $186.1M | $308.0M | $372.9M | $340.3M | $347.5M | $303.3M | $273.5M | $202.5M | $143.5M | $143.7M |
| Total operating expenses | $240.4M | $484.1M | $1.09B | $643.0M | $451.8M | $424.6M | $369.0M | $230.6M | $159.3M | $139.3M |
| Operating income | $110.2M | −$108.7M | −$726.4M | −$170.0M | $341.4M | $438.5M | $114.1M | $89.8M | $124.3M | $105.5M |
| Interest income | $59.3M | $71.0M | $87.9M | $37.3M | $34.5M | $31.3M | $38.4M | $9.9M | $1.8M | $1.1M |
| Interest expense | $59.3M | $71.0M | $87.9M | $37.3M | $34.5M | $31.3M | $38.4M | $9.9M | $6.6M | $7.6M |
| Income before taxes | $82.8M | −$142.9M | −$731.2M | −$219.0M | $303.2M | $411.9M | $77.4M | $81.5M | $118.6M | $99.2M |
| Income taxes | $30.2M | $47.7M | $29.3M | −$7.4M | $83.7M | $106.1M | $22.9M | $18.8M | $36.0M | $36.7M |
| Net income | $52.6M | −$190.6M | −$760.5M | −$211.6M | $219.5M | $305.8M | $54.5M | $62.7M | $82.6M | $51.8M |
| EBITDA | $237.9M | $56.6M | −$43.0M | $34.0M | $509.8M | $613.7M | $261.6M | $155.1M | $174.7M | $132.9M |
| EPS (diluted) | $1.50 | −$0.94 | −$10.08 | −$2.26 | $6.00 | $7.85 | $2.77 | $2.34 | $1.89 | $1.30 |
| Gross margin | 47.2% | 36.0% | 34.3% | 42.3% | 44.7% | 54.7% | 43.7% | 41.0% | 50.6% | 50.1% |
| Operating margin | 14.8% | −10.4% | −69.2% | −15.2% | 19.2% | 27.8% | 10.3% | 11.5% | 22.2% | 21.6% |
| Net margin | 7.1% | −18.3% | −72.5% | −18.9% | 12.4% | 19.4% | 4.9% | 8.0% | 14.7% | 10.6% |
| Jun '26 | Mar '26 | Dec '25 | Sep '25 | Jun '25 | Mar '25 | Dec '24 | Sep '24 | Jun '24 | Mar '24 | Dec '23 | Sep '23 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $234.3M | $156.1M | $148.7M | $231.1M | $140.9M | $222.2M | $194.7M | $293.8M | $254.7M | $300.4M | $276.6M | $270.5M |
| Cost of revenue | $97.1M | $88.5M | $102.1M | $102.0M | $83.4M | $105.7M | $58.2M | $129.6M | $320.2M | $159.6M | $107.4M | $178.1M |
| Gross profit | $137.2M | $67.6M | $46.6M | $129.1M | $57.5M | $116.5M | $136.5M | $164.2M | −$65.5M | $140.8M | $169.2M | $92.4M |
| Research & development | $9.2M | $10.5M | $12.1M | $13.5M | $13.0M | $15.2M | $9.1M | $13.8M | $32.7M | $15.1M | $29.4M | $15.3M |
| Sales, general & admin | $44.6M | $46.6M | $51.1M | $38.9M | $43.7M | $52.4M | $60.8M | $76.6M | $85.9M | $84.7M | $89.7M | $86.0M |
| Total operating expenses | $262.3M | $57.1M | $63.2M | $52.3M | $57.0M | $67.9M | $146.0M | $99.7M | $138.0M | $101.0M | $213.0M | $334.5M |
| Operating income | −$125.1M | $10.5M | −$16.6M | $76.8M | $500,000 | $48.6M | −$9.5M | $64.5M | −$203.5M | $39.8M | −$43.8M | −$242.1M |
| Interest income | — | — | $14.7M | $15.2M | $14.7M | $14.7M | $14.8M | $8.3M | — | — | — | — |
| Interest expense | $10.0M | $11.0M | $14.7M | $15.2M | $14.7M | $14.7M | $14.8M | $8.3M | $23.6M | $24.3M | $22.2M | $19.7M |
| Income before taxes | −$166.3M | $13.4M | −$50.7M | $57.6M | −$16.8M | $92.7M | −$27.6M | $142.4M | −$269.8M | $12.1M | −$54.5M | −$265.9M |
| Income taxes | $13.9M | $6.6M | $3.9M | $6.4M | −$4.8M | $24.7M | $3.7M | $27.6M | $13.3M | $3.1M | −$5.0M | −$2.5M |
| Net income | −$180.2M | $6.8M | −$54.6M | $51.2M | −$12.0M | $68.0M | −$31.3M | $114.8M | −$283.1M | $9.0M | −$49.5M | −$263.4M |
| EBITDA | −$132.3M | $47.9M | −$12.5M | $96.2M | $21.4M | $132.8M | $21.7M | $98.4M | −$130.6M | $64.3M | −$12.6M | $24.4M |
| EPS (diluted) | $0.60 | $0.21 | −$0.43 | $1.06 | $0.16 | $0.71 | −$0.58 | $1.37 | −$2.32 | $0.59 | −$0.77 | −$5.08 |
| Gross margin | 58.6% | 43.3% | 31.3% | 55.9% | 40.8% | 52.4% | 70.1% | 55.9% | −25.7% | 46.9% | 61.2% | 34.2% |
| Operating margin | −53.4% | 6.7% | −11.2% | 33.2% | 0.4% | 21.9% | −4.9% | 22.0% | −79.9% | 13.2% | −15.8% | −89.5% |
| Net margin | −76.9% | 4.4% | −36.7% | 22.2% | −8.5% | 30.6% | −16.1% | 39.1% | −111.2% | 3.0% | −17.9% | −97.4% |
Quarterly columns are labeled by the month the quarter ended. Figures in U.S. dollars as reported in EBS's financial statements (latest annual report filed February 27, 2026); data from EODHD. Sales, general & administrative expenses include sales and marketing.
EBS financial results
In fiscal year 2025 (ended December 31, 2025), Emergent BioSolutions reported revenue of $742.9 million, down 28.8% from the year before. It had net income of $52.6 million, a net profit margin of 7.1%. Diluted earnings per share came to $1.50. Over five years revenue grew at an average rate of −14.0% a year.
See the EBS stock overview for the latest quote and news, or the EBS chart for price history and technical indicators.
EBS income statement FAQ
What is Emergent BioSolutions's annual revenue?
Emergent BioSolutions reported total revenue of $742.9 million for fiscal year 2025, which ended on December 31, 2025. That was down 28.8% from $1.0 billion the previous year.
Is Emergent BioSolutions profitable?
Yes. Emergent BioSolutions reported net income of $52.6 million in fiscal 2025, a net profit margin of 7.1%; its operating margin was 14.8%.
What is Emergent BioSolutions's gross margin?
Emergent BioSolutions's gross margin was 47.2% in fiscal 2025: for every $100 of revenue, Emergent BioSolutions kept $47 after the direct cost of its products and services.
How much does Emergent BioSolutions spend on research and development?
Emergent BioSolutions spent $53.8 million on research and development in fiscal 2025, 7.2% of revenue.
How fast is Emergent BioSolutions growing?
Revenue grew −14.0% a year on average over the last five fiscal years, from $1.6 billion to $742.9 million.
What are Emergent BioSolutions's earnings per share?
Emergent BioSolutions earned $1.50 per diluted share in fiscal 2025, compared with $-0.94 a year earlier.
When will Emergent BioSolutions report its next earnings?
Emergent BioSolutions is expected to report results for the quarter ending September 30, 2026 on November 2, 2026 after the market closes.
When does Emergent BioSolutions's fiscal year end?
Emergent BioSolutions's fiscal year ends in December. The latest annual report covers the year ended December 31, 2025 and was filed on February 27, 2026.