Mabion (MAB) Q1 2026 earnings summary

Executive summary

• Revenue for Q1 2026 was PLN 4.6 million, up from PLN 2.7 million in Q1 2025, driven by CDMO contracts with Novavax, Novalgen, and IBMP.

• Net loss for Q1 2026 was PLN 9.7 million, an improvement from a net loss of PLN 15.3 million in Q1 2025.

• The company continued to execute key contracts and sought new business, but liquidity remains a significant concern.

Financial highlights

• Total revenue increased 68% year-over-year to PLN 4.6 million in Q1 2026.

• Gross loss on sales narrowed to PLN 2.8 million from PLN 5.8 million year-over-year.

• General and administrative expenses decreased to PLN 6.6 million from PLN 8.3 million year-over-year.

• Net loss per share improved to PLN 0.60 from PLN 0.94 year-over-year.

• Cash and cash equivalents at quarter-end were PLN 6.6 million, down from PLN 23.7 million a year earlier.

Outlook and guidance

• Management expects continued revenue from existing contracts but acknowledges that current and potential contracts are insufficient to maintain liquidity for the next 12 months.

• Immediate additional funding is necessary to sustain operations and secure new production orders.

• The company is actively pursuing bridge financing, debt, and a private share issue to address liquidity needs.