Bora Pharmaceuticals (6472) Q2 2026 earnings summary

Executive summary

• Achieved double- and triple-digit quarter-over-quarter growth across key metrics in Q2 2026, following a Q1 pullback, with strong recovery driven by demand and operational leverage.

• Revenues reached NT$5,889 million in Q2 2026, up 47% quarter-over-quarter and 21% year-over-year, with gross profits at NT$2,430 million (69% growth) and EPS of NT$4.36 (1,976% growth quarter-over-quarter).

• Net income before tax was NT$812 million, a 269% quarter-over-quarter increase, and net income rose from NT$32 million in Q1 to NT$597 million in Q2.

• Expanded U.S. footprint with 11 manufacturing sites and a major acquisition of the Rockville, Maryland biologics facility.

• Completed the acquisition of Weider Global Nutrition, LLC in May 2026, expanding the health and wellness product portfolio.

Financial highlights

• CDMO business revenue was NT$2,116 million, up 40.2% quarter-over-quarter; pharma sales revenue was NT$2,934 million, up 30.4%.

• Record high 12-month rolling backlog of US$317 million and newly signed contracts totaling US$378 million.

• Operating profits nearly doubled to NT$986 million from NT$400 million quarter-over-quarter; operating margin reached 17%.

• Sunway Biotech, now 14% of total revenues, contributed significantly after acquiring Weider Global Nutrition.

• Cash and cash equivalents increased to NT$8,431 million as of June 30, 2026.

Outlook and guidance

• Strong visibility for the second half of 2026 and into 2027, with record backlog and continued demand for CDMO and specialty pharma.

• Rockville facility to contribute revenue in Q3 2026, with 13 batches already committed for the back half of 2026.

• Sunway Biotech expected to realize further synergies and growth from Weider acquisition in H2 2026.

• Ongoing investments in R&D and manufacturing capabilities, including CapEx at Maple Grove and Maryland.