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, driven by increased demand and expansion into new treatment centers in the US and UK.

• Full-year 2026 net product revenue guidance for AUCATZYL raised to $140–$150 million, reflecting higher than expected sales momentum.

• Gross margin improved to 55% in Q2 2026, up from 6% in Q1 2026 and negative in all quarters of 2025, driven by higher volumes and cost reductions.

• Loss from operations narrowed to $43.8 million in Q2 2026 from $61.2 million in Q2 2025; net loss was $39.1 million, down from $47.9 million year-over-year.

• Cash, cash equivalents, and marketable securities totaled $201.6 million at June 30, 2026, expected to fund operations into Q2 2028.

Financial highlights

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

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

• R&D expenses were $27.9 million in Q2 2026 (flat vs. Q2 2025); SG&A expenses increased to $41.2 million, reflecting commercialization and restructuring costs.

• Net loss for Q2 2026 was $39.1 million, improved from $47.9 million in Q2 2025.

• Cash, cash equivalents, and marketable securities totaled $201.6 million as of June 30, 2026.

Outlook and guidance

• FY 2026 net product revenue guidance for AUCATZYL increased to $140–$150 million from prior $120–$135 million.

• Gross margin expected to improve further toward 65–70% for adult ALL over time.

• Cash runway into Q2 2028, supported by $201.6 million in cash and up to $100 million from a new credit facility.

• Multiple clinical data readouts expected in late 2026 through 2028, including pivotal studies in pediatric ALL, lupus nephritis, and progressive MS.

• No EU product revenue anticipated in 2026 as commercial launch in Germany and other EU countries remains on hold.