The preliminary figures show revenue tracking below the pace needed to reach full-year guidance without a very strong Q4, while the adjusted EBITDA loss through nine months already exceeds the full-year guidance midpoint. Watch the November 5 full release for Q3 segment detail and any revision to full-year guidance — the current reaffirmation may prove optimistic if Q4 revenue does not materially accelerate.
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Executive Summary
Evotec SE released preliminary unaudited nine-months 2026 results showing Group revenues of approximately €465.0 million and adjusted Group EBITDA of approximately -€42.8 million, which the company states are above current market expectations. The company reaffirmed its full-year 2026 guidance of €570-610 million in revenues and -€70 to -€105 million in adjusted EBITDA, but the preliminary figures imply a significant Q4 revenue ramp and continued EBITDA losses, with no improvement in the underlying profitability trend.
Key Facts
- Preliminary nine-months 2026 Group revenues: ~€465.0 million
- Preliminary nine-months 2026 adjusted Group EBITDA: ~-€42.8 million
- Full-year 2026 guidance reaffirmed: revenues €570-€610 million, adjusted EBITDA -€70 to -€105 million
- Results described as 'above market expectations' due to phasing of consensus estimates
- Full Q3 and nine-months results to be published November 5, 2026
Financial Impact
Nine-months revenue of €465M implies Q3 revenue run-rate of ~€155M, still well below the ~€190-€203M quarterly average needed to hit the full-year guidance midpoint of €590M. Adjusted EBITDA loss of -€42.8M through nine months already exceeds the midpoint of the full-year guidance range of -€87.5M, suggesting further losses ahead.
Risk Factors
- Full-year guidance may be at risk if Q4 revenue does not significantly exceed Q3 run-rate
- Adjusted EBITDA loss trajectory suggests full-year loss could exceed the guided range
- Preliminary nature of figures leaves room for revision when audited results are released
Investment Themes
Documents Analyzed
This report is based on 5 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| 6-K Filing (Primary) | 0001104659-26-115678 |
| Document: tm2627582d1_ex99-1.htm | 0001104659-26-115678 |
| Document: 0001104659-26-115678-index-headers.html | 0001104659-26-115678 |
| Document: 0001104659-26-115678-index.html | 0001104659-26-115678 |
| Document: 0001104659-26-115678.txt | 0001104659-26-115678 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Oct 15, 2026 11d ago | 6-K | $1.42 $1.38 | ▲ +2.82% | ▲ +1.71% | $1.52 (−7.04%) |
Oct 14, 2026 12d ago | SC 13D/A | $1.42 $1.38 | ▲ +2.82% | ▲ +1.71% | $1.52 (−7.04%) |
Oct 14, 2026 13d ago | 6-K | $1.43 $1.42 | ▲ +0.35% | ▲ +0.64% | $1.52 (−6.67%) |
Sep 29, 2026 28d ago | 6-K | $1.64 $1.71 | ▲ +4.27% | ▲ +4.47% | $1.52 (−7.32%) |
Sep 9, 2026 6w ago | 6-K | $1.81 $1.77 | ▼ −2.21% | ▼ −1.61% | $1.52 (−16.02%) |
Aug 13, 2026 10w ago | 6-K | $2.02 $1.96 | ▲ +2.97% | ▲ +2.77% | $1.52 (+24.75%) |
Jul 13, 2026 15w ago | Press Release | $2.43 $2.14 | ▲ +11.93% | ▲ +12.29% | $1.52 (+37.45%) |
Jun 30, 2026 16w ago | 6-K | $2.80 $2.85 | ▲ +1.79% | ▲ +1.92% | $1.52 (−45.71%) |
Jun 17, 2026 18w ago | 6-K | $2.61 $2.56 | ▼ −1.92% | ▼ −2.70% | $1.52 (−41.76%) |
US Market Status
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