Mesoblast Limited (MESO) Income Statement
MESO FY2026 at a glance
Fiscal year ended June 30, 2026 · U.S. dollarsMESO revenue and net income
Where MESO's revenue goes
FY2026Each bar shows an amount and its share of revenue. MESO kept −47.8% of revenue as net income.
MESO profit margins
MESO growth rates
to FY2026| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Revenue | +602.3% | +152.5% | +74.5% | +11.0% |
| Gross profit | +741.7% | — | — | +23.0% |
| Operating income | — | — | — | — |
| Net income | — | — | — | — |
| EPS (diluted) | — | — | — | — |
1-year change and average annual growth (CAGR) over 3, 5 and 10 fiscal years. "—" when a starting value was zero or negative.
MESO quarterly EPS vs estimates
Mesoblast beat the analyst EPS estimate in 8 of the last 8 quarters.
MESO income statement
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $120.8M | $17.2M | $5.9M | $7.5M | $10.2M | $7.5M | $32.2M | $16.7M | $17.3M | $2.4M |
| Cost of revenue | $19.2M | $5.1M | $41.1M | $54.9M | $63.6M | $85.7M | $81.5M | $75.2M | $5.5M | $12.1M |
| Gross profit | $101.6M | $12.1M | −$35.2M | −$47.4M | −$53.4M | −$78.3M | −$49.3M | −$58.5M | $11.8M | −$9.7M |
| Research & development | $97.9M | $34.8M | $25.4M | $27.2M | $32.8M | $53.0M | $56.2M | $59.8M | $65.9M | $58.9M |
| Sales, general & admin | $57.3M | $39.3M | $23.6M | $25.4M | $58.0M | $63.6M | $50.9M | $37.0M | $27.4M | $35.1M |
| Total operating expenses | $153.1M | $74.5M | $49.0M | $76.8M | $90.8M | $115.1M | $107.6M | $97.9M | $92.0M | $92.5M |
| Operating income | −$51.5M | −$62.4M | −$84.1M | −$69.3M | −$80.6M | −$109.1M | −$74.9M | −$80.2M | −$77.3M | −$90.0M |
| Interest income | $3.9M | $3.6M | $1.8M | $831,000 | $3,000 | $22,000 | $542,000 | $719,000 | $366,000 | — |
| Interest expense | $23.9M | $22.9M | $20.7M | $19.4M | $17.3M | $10.7M | $14.7M | $11.7M | $1.8M | $0 |
| Income before taxes | −$57.1M | −$101.8M | −$88.1M | −$82.1M | −$91.6M | −$99.6M | −$87.4M | −$98.8M | −$66.0M | −$90.2M |
| Income taxes | $615,738 | $330,000 | −$191,000 | −$212,000 | −$239,000 | −$819,000 | −$9.4M | −$9.0M | −$30.7M | −$13.4M |
| Net income | −$57.8M | −$102.1M | −$88.0M | −$81.9M | −$91.3M | −$98.8M | −$77.9M | −$89.8M | −$35.3M | −$76.8M |
| EBITDA | −$42.9M | −$73.7M | −$53.3M | −$58.5M | −$76.6M | −$84.7M | −$69.0M | −$84.5M | −$74.7M | −$87.2M |
| EPS (diluted) | −$0.07 | −$0.36 | −$0.13 | −$1.11 | −$1.41 | −$1.90 | −$1.46 | −$1.82 | −$1.42 | −$1.52 |
| Gross margin | 84.1% | 70.2% | −595.9% | −632.2% | −522.6% | −1,049.8% | −153.4% | −349.5% | 68.2% | −400.2% |
| Operating margin | −42.6% | −363.1% | −1,425.7% | −923.7% | −789.1% | −1,463.2% | −232.8% | −479.6% | −446.0% | −3,733.1% |
| Net margin | −47.8% | −593.9% | −1,490.3% | −1,091.7% | −894.6% | −1,325.3% | −242.4% | −537.0% | −203.5% | −3,184.7% |
| 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 | $34.5M | $34.5M | $25.7M | $25.7M | $7.0M | $7.0M | $1.6M | $1.6M | $1.3M | $1.3M | $1.7M | $1.7M |
| Cost of revenue | −$49.4M | $14.9M | $26.9M | $26.9M | $23.2M | $23.2M | $3.3M | $3.3M | $10.8M | $10.8M | $9.7M | $9.7M |
| Gross profit | $49.3M | $49.3M | −$1.2M | −$1.2M | −$16.2M | −$16.2M | −$1.7M | −$1.7M | −$9.6M | −$9.6M | −$8.0M | −$8.0M |
| Research & development | $25.7M | $25.7M | $23.1M | $23.1M | $7.1M | $7.1M | $10.3M | $10.3M | $6.4M | $6.4M | $6.3M | $6.3M |
| Sales, general & admin | — | — | — | — | $11.1M | $11.1M | $8.6M | $8.6M | $6.1M | $6.1M | $5.7M | $5.7M |
| Total operating expenses | $40.1M | $40.1M | $37.4M | $37.4M | $18.1M | $18.1M | $18.9M | $18.9M | $12.4M | $12.4M | $12.1M | $12.1M |
| Operating income | $46.1M | −$20.5M | −$38.6M | −$38.6M | −$34.4M | −$34.4M | −$20.6M | −$20.6M | −$22.0M | −$22.0M | −$20.1M | −$20.1M |
| Interest expense | — | — | $5.6M | $5.6M | — | — | $5.3M | $5.3M | $4.3M | $4.3M | $5.1M | $5.1M |
| Income before taxes | −$8.8M | −$8.6M | −$19.9M | −$19.9M | −$27.0M | −$27.0M | −$23.9M | −$23.9M | −$27.8M | −$27.8M | −$16.3M | −$16.3M |
| Income taxes | $86,738 | $84,000 | $222,500 | $222,500 | $59,000 | $59,000 | $106,000 | $106,000 | −$44,500 | −$44,500 | −$51,000 | −$51,000 |
| Net income | −$8.7M | −$8.7M | −$20.1M | −$20.1M | −$27.1M | −$27.1M | −$24.0M | −$24.0M | −$27.7M | −$27.7M | −$16.3M | −$16.3M |
| EBITDA | −$9.3M | −$9.3M | −$12.5M | −$12.5M | −$19.1M | −$19.1M | −$9.0M | −$9.0M | −$14.6M | −$14.6M | −$12.1M | −$12.1M |
| EPS (diluted) | — | $0.00 | — | −$0.07 | −$0.04 | $0.00 | −$0.04 | −$0.28 | — | $0.00 | $0.00 | −$0.13 |
| Gross margin | 143.2% | 143.2% | −4.7% | −4.7% | −231.1% | −231.1% | −107.8% | −107.8% | −762.3% | −762.3% | −472.4% | −472.4% |
| Operating margin | 133.9% | −59.5% | −150.2% | −150.2% | −489.5% | −489.5% | −1,306.7% | −1,306.7% | −1,750.7% | −1,750.7% | −1,184.6% | −1,184.6% |
| Net margin | −25.2% | −25.2% | −78.2% | −78.2% | −386.0% | −386.0% | −1,518.8% | −1,518.8% | −2,204.3% | −2,204.3% | −960.4% | −960.4% |
Quarterly columns are labeled by the month the quarter ended. Figures in U.S. dollars as reported in MESO's financial statements (latest annual report filed August 27, 2026); data from EODHD. Sales, general & administrative expenses include sales and marketing.
MESO financial results
In fiscal year 2026 (ended June 30, 2026), Mesoblast reported revenue of $120.8 million, up 602.3% from the year before. It had a net loss of $57.8 million, a net profit margin of −47.8%. Diluted earnings per share came to −$0.07. Over five years revenue grew at an average rate of 74.5% a year.
See the MESO stock overview for the latest quote and news, or the MESO chart for price history and technical indicators.
MESO income statement FAQ
What is Mesoblast's annual revenue?
Mesoblast reported total revenue of $120.8 million for fiscal year 2026, which ended on June 30, 2026. That was up 602.3% from $17.2 million the previous year.
Is Mesoblast profitable?
No. Mesoblast reported a net loss of $57.8 million in fiscal 2026, a net profit margin of −47.8%; its operating margin was −42.6%.
What is Mesoblast's gross margin?
Mesoblast's gross margin was 84.1% in fiscal 2026: for every $100 of revenue, Mesoblast kept $84 after the direct cost of its products and services.
How much does Mesoblast spend on research and development?
Mesoblast spent $97.9 million on research and development in fiscal 2026, 81.1% of revenue.
How fast is Mesoblast growing?
Revenue grew 74.5% a year on average over the last five fiscal years, from $7.5 million to $120.8 million.
What are Mesoblast's earnings per share?
Mesoblast earned $-0.07 per diluted share in fiscal 2026, compared with $-0.36 a year earlier.
When does Mesoblast's fiscal year end?
Mesoblast's fiscal year ends in June. The latest annual report covers the year ended June 30, 2026 and was filed on August 27, 2026.