Emergent BioSolutions Inc. is an American multinational specialty biopharmaceutical company headquartered in Gaithersburg, Maryland. Founded in 1998 by Fuad El-Hibri, the company focuses on developing and manufacturing vaccines and therapeutics for public health threats, including chemical, biological, radiological, nuclear, and explosives (CBRNE) incidents, emerging infectious diseases, and opioid overdose emergencies. ...Emergent BioSolutions Inc. is an American multinational specialty biopharmaceutical company headquartered in Gaithersburg, Maryland. Founded in 1998 by Fuad El-Hibri, the company focuses on developing and manufacturing vaccines and therapeutics for public health threats, including chemical, biological, radiological, nuclear, and explosives (CBRNE) incidents, emerging infectious diseases, and opioid overdose emergencies. Its product portfolio includes BioThrax (anthrax vaccine), ACAM2000 (smallpox vaccine), Botulism Antitoxin Heptavalent, raxibacumab, Anthrasil, Trobigard auto-injector, NARCAN nasal spray, Vivotif (typhoid vaccine), and Vaxchora (cholera vaccine). The company also has a robust pipeline with candidates like AP003 (naloxone nasal spray), AV7909 (next-generation anthrax vaccine), and UniFlu (universal influenza vaccine). Additionally, Emergent offers contract development and manufacturing services (CDMO) for drug substance and product manufacturing. The company reported a revenue of US$1.05 billion in 2023 and employs approximately 900 people. As of early 2024, Joseph C. Papa serves as President and CEO. Emergent has faced financial challenges, with negative profitability ratios and a debt-to-equity ratio of 1.704, but continues to focus on its mission of protecting public health. The company has been involved in both government contracts and commercial sales, and its stock is listed on the NYSE under the ticker EBS.
YoYYoY means Year-over-Year. It compares the latest annual value with the previous annual value to show long-term trend strength.
QoQQoQ means Quarter-over-Quarter. It compares the latest quarter with the immediately previous quarter to show short-term momentum changes.
RevenueThe total money that came through the front door from selling things, before paying a single bill. Think of it as the grand total of every credit card swipe from customers. (YoY compares this year to last year's performance, while QoQ compares the current three months to the previous three).
$742.9M
-28.8%
+50.1%
Net IncomeThe absolute bottom line. If the company paid every single supplier, employee, banker, and tax collector, this is the actual money left in their pocket at the end of the day.
$52.6M
+127.6%
-2750.0%
Gross MarginThe basic markup. If they sell a $100 pair of sneakers, this percentage tells you how much of that price tag is profit right after paying for the rubber and shoelaces, but before paying for things like store rent or TV commercials.
+47.2%
+31.2%
+35.2%
Operating MarginThe 'day job' efficiency score. Out of every dollar a customer spends, this shows how many cents the company keeps after making the product AND paying for all the everyday corporate overhead (like salaries, marketing, and keeping the lights on).
+14.8%
+242.4%
-893.8%
Net MarginThe final take-home percentage. When you strip away every conceivable cost, tax, and interest payment, this is the exact number of cents the company truly gets to keep from every dollar in sales.
+7.1%
+138.8%
-1865.5%
Free Cash FlowThe holy grail of corporate cash. It's the spendable, physical money left over after the business pays for its daily operations AND buys the big, expensive upgrades (like new factories or servers) it needs to survive. This is the 'free' money they can use to pay dividends or buy back stock.
$156.8M
+338.0%
+249.2%
FCF MarginThe ultimate cash conversion rate. It shows how good the company is at turning regular sales directly into cold, hard, spendable cash. A high percentage means the business is an absolute cash-printing machine.
+21.1%
+515.3%
+199.4%
Debt / EquityThe financial risk gauge. It compares how much of the company's empire was built using borrowed money (loans) versus the owners' own money (shareholders). A high number means they are heavily leveraged and playing a riskier game; a low number means they are playing it safe.
109.5%
-21.8%
+55.4%
Current RatioThe 12-month survival check. It simply compares the cash they have right now (plus things they can quickly turn into cash) against the immediate bills they absolutely must pay this year. A score above 1 means they have enough in the wallet to cover the upcoming bills without panicking.
5.01x
+35.9%
+26.5%
Total AssetsThe absolute size of the company's empire. It bundles together absolutely everything of value they own—from the cash in the register and the inventory in the warehouse, to the software patents in the vault and the factories on the ground.
Operator: Good day, and thank you for standing by. Welcome to the Q2 26 Emergent BioSolutions Inc Earnings Conference Call. At this time, all participants are in a listen-only mode. After the speakers' presentation, there will be a question and answer session. To ask a question during the session, you will need to press *11 on your telephone. You will then hear an automated message advising your hand is raised. To withdraw your question, please press *11 again. Please be advised that today's conference is being recorded. I would now like to hand the conference over to your speaker today, Frank Vargo, Vice President and Treasurer. Please go ahead.
Frank Vargo: Good afternoon, everyone. And thank you for joining us as Emergent discusses its operational and financial results for the second quarter of 2026. As is customary, today's call is open to all participants. it is being recorded. And is copyrighted by Emergent BioSolutions. In addition to today's press release, a slide presentation accompanying this webcast is available to all webcast participants. Turning to slide 2, During today's call, Emergent may make projections and other forward looking statements related to its business, future events, prospects or future performance. These forward looking statements are based on our current intentions, beliefs and expectations regarding future events, Any forward looking statement speaks only as of the date of this conference call, And except as required by law, Emergent does not undertake to update any forward looking statement to reflect new information, events or circumstances. Investors should consider this cautionary statement as well as the risk factors identified in Emergent's periodic reports filed with the SEC, when evaluating these forward looking statements. During today's call, Emergent may also discuss certain non GAAP financial measures that include adjustments to GAAP figures to provide additional transparency regarding the company's operating performance. Please refer to the tables included in today's press release. Turning to slide 3. The agenda for today's call includes remarks from Joe Papa, President and Chief Executive Officer who will provide an update on the company's transformation plan, business performance, and key highlights. Richard S. Lindahl, EVP and Chief Financial Officer, will then review the second quarter 26 financial results and provide an update on full year 2026 guidance. Joe Papa will conclude with a discussion of the company's key catalysts for growth followed by a question and answer session. Finally, for the benefit of those who may be listening to the replay of this webcast, this call was held and recorded on 08/05/2026. Since that time, Emergent may have made announcements related to topics discussed during today's call. With that, I would now like to turn the call over to Joe Papa. Joe?
Joseph C. Papa Jr.: Thank you, Frank. Hello, everyone, and thank you for joining us to discuss Emergent's Second Quarter …
