ABCL Nasdaq Earnings call
AbCellera Biologics Inc. (ABCL) · Q2 2026 results
Share price: $11.95 · 2026-11-11
Results Q2 2026 vs Q1 2026 · previous quarter · published 5 Aug 2026 and 12 May 2026
Net loss widened on the previous quarter. Management sounded cautious, in its script and in answers to analysts.
Only a basic analysis is available for this company at the moment.
1 · Numbers
Loss widened
Net income vs Q1 2026
Outlook given
Net income -55.4M vs -43.2M
Revenue −51.3%
Net income -55.4M vs -34.7M in Q2 2025 and -43.2M last quarter.
Why Against the same quarter last year, net income fell because of higher spending on investments in internal programs.
2 · How management spoke
Cautious
Among the least upbeat of all company calls
Answers to analysts: cautious, in line with the script.
Similar to last call.
3 · What stood out Nothing unusual flagged this period.
Valuation
Reverse DCF. Free cash flow from the last full fiscal year, grown for 10 years, discounted back, plus a terminal value. “Implied growth” is the rate the current price assumes.
Valuation unavailable: free cash flow and profit were negative in the last full year and on average over the last three, so there is nothing to discount.
Current price
$11.95
close of 2026-11-11
Revenue growth, 3 years
−46.3% a year
compound annual rate (CAGR)
Free cash flow 2023
−$0.1B
Free cash flow 2024
−$0.2B
Free cash flow 2025
−$0.2B
Read between the lines
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Figure
AbCellera reported eligibility for over $2 billion in potential downstream payments under its agreement, signaling significant long-term revenue potential.
Source quote
“Under the agreement, AbCellera is also eligible to receive over $2 billion in potential downstream payments, along with mid-single-digit to low...”
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Guidance
ABCL expects a top line data readout very soon, but no specific revenue numbers or percentage changes were provided for the guidance update.
Source quote
“Based on we expect a top line data readout very soon.”
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Last period
I first-in-human trial was a randomized, double-blind, placebo-controlled 2-part study designed to evaluate the safety.
Source quote
“The Phase I first-in-human trial was a randomized, double-blind, placebo-controlled 2-part study designed to evaluate the safety, pharmacokinetics and pharmacodynamics... I'll now discuss the Phase I data that led us to advance ABCL635 into Phase II development. In Part A, single ascending doses of ABCL635 or placebo were evaluated in 40 healthy men and postmenopausal women divided into 5 cohorts.”
Tone
How upbeat the language was, compared with other companiesiTone counts positive minus negative finance words, adjusted for length. Executives mostly speak positively, so the labels compare each call with every company's latest call: “typical” is the middle third, “very upbeat” the top tenth, “cautious” the bottom tenth.. Dot: Q2 2026. Ring: Q1 2026.
Script and answers carried a similar tone, so the script's message held up under questioning.
Sentences that drove the tone
“Looking at earnings, we are reporting a net loss of roughly $55 million for the second quarter of 2026 compared to a loss of about $35 million a year earlier.”
“Please review the Risk Factors section of our most recent Form 10-K and subsequent 10-Q filings with the SEC for a more detailed discussion of these risks.”
“And we are very pleased to see that come to fruition and to have attracted to stellar partners in Vertex and Jazz who prioritize high innovation and are serious about...”
Full figures
USD · SEC EDGAR XBRL (10-Q, period end 2026-06-30)
| Metric | Q2 2026period end 2026-06-30 | Q1 2026period end 2026-03-31 | Change | Q2 2025 | YoY |
|---|---|---|---|---|---|
| Revenue | 4.0M | 8.3M | −51.3% | 17.1M | −76.3% |
| Operating income | -62.8M | -57.5M | Loss widened | -49.6M | Loss widened |
| Net income | -55.4M | -43.2M | Loss widened | -34.7M | Loss widened |
| EPS | -0.18 | -0.14 | Loss widened | -0.12 | Loss widened |
| P/E | 12-mo loss | 12-mo loss | — | 12-mo loss | — |
Topics
Most discussed now
- New AbCellera Biologics has not done a conclusive experiment preclinically to prove that.
- I should mention that the Phase II was done with a single dose of ABCL635.
- AbCellera Biologics does think that in addition to the convenience of a once-monthly dosing, improved safety for a product like this...
- As the dose comes down, AbCellera Biologics is getting an effective dose response curve.
- I'm probably going to not go too deep into this since AbCellera Biologics is expecting data relatively soon, and then it will...
Faded since Q1 2026
- Dropped AbCellera Biologics started the year in a strong financial position with its platform and large infrastructure projects substantially…
- Fading Use of testosterone levels in men was previously validated as a biomarker of NK3R target engagement in the early development...
- Fading This data provides a useful benchmark of NK3R target engagement and along with subsequent Phase II studies allows it to...
- Fading Data from the multiple ascending dose cohorts are still blinded as the final follow-up visits are still ongoing.
Latest announcements
Official filings, newest first.
- Material agreement; Other events · SEC 8-K
- Regulation FD disclosure · SEC 8-K
- Other events · SEC 8-K
- Results of operations; Regulation FD disclosure · SEC 8-K
- Other events · SEC 8-K
- Director or officer change · SEC 8-K
- Other events · SEC 8-K
- Shareholder vote results · SEC 8-K