Evotec Posts Final 9M 2026 Results, Reaffirms Guidance and Details €1B 2030 Framework
EVO sits 23% above its 52-week low of $1.33.
Summary
Evotec's full 9M 2026 interim statement confirms the pre-announced results with final adjusted EBITDA of -€44.3M and a €195.3M net loss, reaffirms 2026 guidance, and lays out a 2030 target of about €1 billion in revenue at a 20%+ adjusted EBITDA margin.
Key Events · Earnings and Guidance · EVO
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Final 9M 2026 Results Confirmed
Group revenue fell 13.1% to €465.0M and adjusted Group EBITDA was -€44.3M versus -€16.9M a year earlier; Q3 adjusted EBITDA improved to -€1.6M from -€15.0M.
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Net Loss Widens to €195.3M
The 9M net loss of €195.3M (9M 2025: €118.1M) includes €91.9M of Horizon reorganization costs and a €42.3M Hamburg laboratory impairment; basic loss per share was €1.10.
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2030 Framework Targets ~€1B Revenue
Management targets around €1 billion of Group revenue by 2030 with a 20% adjusted EBITDA margin at YE 2028 and above 20% at YE 2030, split roughly 40% D&PD base, 20% D&PD partnerships and 40% JEB.
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Vertex Picks JEB for Commercial Manufacturing
Just – Evotec Biologics was selected by Vertex Pharmaceuticals to commercially manufacture povetacicept at its J.POD Redmond facility, the clearest sign yet of JEB's move to commercial-scale supply.
Analysis · EVO · Life Sciences
The headline numbers were pre-announced on October 13-14, so the revenue and EBITDA prints themselves are not new. What is new is the full interim statement: final 9M adjusted EBITDA of -€44.3M (slightly wider than the ~-€42.8M preliminary figure), a €195.3M net loss, and a detailed 2030 framework targeting roughly €1 billion of Group revenue with a 20% adjusted EBITDA margin by 2028. The most concrete commercial validation in the release is Vertex's selection of Just – Evotec Biologics for commercial povetacicept manufacturing, which moves JEB toward commercial-scale revenue. Against that, cash burn remains the pressure point: operating cash outflow of €155.0M in nine months and liquidity down to €400.9M from €476.4M at year-end 2025. Full-year 2026 guidance is unchanged at €570-610M revenue and -€105 to -€70M adjusted EBITDA.
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At the time of this filing, EVO was trading at $1.64 on NASDAQ in the Life Sciences sector, with a market capitalization of approximately $575.7M. The 52-week trading range was $1.33 to $4.09. This filing was assessed with neutral market sentiment and an importance score of 7 out of 10.