Autolus Therapeutics (AUTL) Q2 2026 earnings summary

Executive summary

• Net product revenue for Q2 2026 reached $45.7 million, up 119% year-over-year and 74% sequentially from Q1 2026, with six-month revenue at $71.9 million, up 140% year-over-year.

• Expanded commercial presence to over 80 centers in the U.S. and launched in the U.K., with strong initial adoption and momentum.

• Increased full-year 2026 net product revenue guidance to $140–$150 million, up from $120–$135 million, reflecting higher than expected sales momentum.

• Operational efficiency initiatives, including a 13% workforce reduction, are expected to reduce annualized operating expenses by $15 million starting in 2027.

• Pipeline progress includes pivotal studies in pediatric ALL, lupus nephritis, and early-stage programs in multiple sclerosis and amyloidosis, with key data readouts expected between late 2026 and 2028.

Financial highlights

• Q2 2026 net product revenue was $45.7 million, up from $26.2 million in Q1 2026 and $20.9 million in Q2 2025.

• Gross margin improved to 55% in Q2 2026, up from 6% in Q1 2026 and negative in all quarters of 2025.

• Cost of sales decreased to $20.5 million in Q2 2026 from $24.4 million in Q2 2025, with cost of sales as a percentage of revenue dropping from 117% to 45%.

• R&D expense was $27.9 million, flat year-over-year; SG&A rose to $41.2 million, reflecting commercialization costs and one-time restructuring charges.

• Net loss narrowed to $39.1 million in Q2 2026 from $47.9 million in Q2 2025.

Outlook and guidance

• Full-year 2026 net product revenue guidance raised to $140–$150 million.

• Gross margin expected to reach 65–70% for the mature ALL business within 12–18 months.

• Cash, equivalents, and marketable securities totaled $201.6 million as of June 30, 2026, with a new $250 million credit facility secured, supporting a cash runway into Q2 2028.

• Continued expansion of treatment centers, targeting 90+ in the U.S. and 20 in the U.K. by year-end.

• Multiple clinical data readouts expected in late 2026 and 2027, including pivotal pediatric ALL and lupus nephritis studies.