Emergent BioSolutions Inc. reported first quarter 2025 financial results, with net income increasing by 656% year-over-year to $68.0 million. This significant profitability improvement occurred despite a 26% decrease in total revenue to $222.2 million compared to Q1 2024.
The company's adjusted gross margin expanded to 58% in Q1 2025, up from 51% in Q1 2024, driven by a more favorable product mix and benefits from a leaner cost structure. Operating expenses, including R&D and SG&A, decreased substantially due to prior cost reduction initiatives.
Emergent reaffirmed its full-year 2025 guidance, projecting total revenues between $750 million and $850 million, adjusted EBITDA of $150 million to $200 million, and a return to positive net income ranging from $16 million to $66 million. The company anticipates a strong second half of the year, building on the momentum from its disciplined turnaround actions.
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