Evotec nine-month 2026 revenue falls 13.1% to €465M
Evotec reaffirmed 2026 ranges as Horizon delivered more than 20% of its €75 million annual run-rate savings target by September.
Sentiment and the balance of points
Rhea-AI Sentiment reads the wording of the document, how positive or negative its language is on a 1 to 5 scale. The balance of points shown with the takes weighs what the document actually discloses, so the two can disagree, for example when a trial that missed its main goal is described in upbeat language.
Rhea-AI Filing Summary
Evotec SE (EVO) reported nine-month 2026 revenue of €465.0 million, down 13.1% from €535.1 million, and an adjusted Group EBITDA loss of €44.3 million versus €16.9 million. Net loss was €195.3 million, and operating cash outflow was €155.0 million. The revenue decline reflected lower sales-to-revenue conversion in D&PD and timing-related program activity, including delayed JEB programs and the prior-year Sandoz license sale.
Third-quarter revenue was €164.9 million, compared with €163.9 million a year earlier; the adjusted EBITDA loss narrowed to €1.6 million from €15.0 million. Evotec reaffirmed full-year 2026 guidance of €570–610 million in revenue and adjusted EBITDA of -€105 million to -€70 million. By September, Horizon had delivered more than 20% of its €75 million annual run-rate savings target. The 2030 framework calls for around €1 billion in revenue, a 20% adjusted EBITDA margin by year-end 2028, and above 20% by year-end 2030.
How this balance works
Rhea-AI gives every point it takes from this document a weight. Minor counts 1, Moderate 3 and Major 9, so one Major point outweighs several Minor ones. The bar adds up the weights on each side, and when neither side holds more than 65% of the total the balance reads Mixed.
It reads the document as published, with the same rules for every company, and it does not look at what the market expected or at how the stock traded, so a point can be objectively good on a day the stock falls.
Rhea-AI Sentiment measures something else, the tone of the wording.
Positive
- Moderate pointThird-quarter adjusted EBITDA loss narrowed 89.1% to €1.6 million.
Negative
- Moderate pointNine-month revenue declined 13.1% to €465.0 million.
- Moderate pointAdjusted Group EBITDA loss widened to €44.3 million from €16.9 million.
- Moderate pointNet loss increased to €195.3 million from €118.1 million.
- Moderate pointOperating cash outflow rose to €155.0 million from €72.8 million.
Key Figures
Key Terms
constant exchange rates financial
Base revenue financial
Adjusted EBITDA financial
annual run-rate savings financial
Contract liabilities financial
FAQ
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What were EVO's nine-month 2026 revenue and adjusted EBITDA?
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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 6-K
REPORT OF FOREIGN PRIVATE ISSUER PURSUANT TO RULE 13a-16 OR 15d-16
UNDER THE SECURITIES EXCHANGE ACT OF 1934
For the month of November, 2026
COMMISSION FILE NUMBER 001-34041
Evotec
SE
(Translation of registrant’s name into English)
Essener Bogen 7
22419 Hamburg
Germany
Tel:
+49 40 560810
(Address of principal executive offices)
Indicate by check mark whether the registrant files or will file annual reports under cover Form 20-F or Form 40-F: Form 20-F x Form 40-F ¨
Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(1): ¨
Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(7): ¨
On November 5, 2026, Evotec SE (the “Company”) issued its Interim Statement First Nine Months 2026. A copy of the Statement is furnished as Exhibit 99.1 to this Report on Form 6-K. The related Corporate News is attached as Exhibit 99.2 hereto.
EXHIBIT INDEX
| Exhibit | Description of Exhibit |
| 99.1 | Interim Statement First Nine Months 2026 |
| 99.2 | Evotec Reports Third Quarter and Nine-Month 2026 Results: Building Growth Momentum Toward 2030 Goals |
SIGNATURE
Pursuant to the requirements, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.
| Evotec SE | ||
| By: | /s/ Claire Hinshelwood | |
| Name: Claire Hinshelwood | ||
| Title: Chief Financial Officer | ||
Date: November 5, 2026
Exhibit 99.1
For further information, please contact: Dr. Sarah Fakih, EVP Head of Global Communications and Investor Relations, sarah.fakih@evotec.com, M. +49.(0)151 70 688 784, www.evotec.com
 | INTERIM STATEMENT 9M 2026 |
HIGHLIGHTS
| 4 | D&PD LEADING COMMERCIAL INDICATORS SHOW CONTINUED IMPROVEMENT |
| 4 | JUST – EVOTEC BIOLOGICS (“JEB”) Q3 PERFORMANCE AFFECTED BY PARTIAL MILESTONE ACHIEVEMENT; FULL-YEAR OUTLOOK IMPACTED BY MILESTONE TIMING, PROJECT SHIFTS AND DEFERRALS |
| 4 | HORIZON TRANSFORMATION WELL ON TRACK |
| 4 | EVOTEC EXPANDS ITS STRATEGIC RESEARCH COLLABORATION NETWORK IN IMMUNOLOGY AND ONCOLOGY; JEB ADVANCES ORTHOPOXVIRUS ANTIBODIES INTO PHASE 1 CLINICAL STUDIES |
| 4 | NINE-MONTH 2026 RESULTS ABOVE MARKET EXPECTATIONS; FULL-YEAR 2026 GUIDANCE REAFFIRMED |
EVOTEC REMAINS ON TRACK TO DELIVER FULL-YEAR 2026 GUIDANCE
| 4 | Group revenue decreased by 13.1% to € 465.0 m (9M 2025: € 535.1 m) while remaining well above expectations implied by Q3 consensus estimates and consistent with FY 2026 guidance range |
| 4 | Total D&PD revenue decreased by 11.2% to € 348.2 m (9M 2025: € 392.1 m), mainly attributable to lower sales conversion across all business areas, reflecting ongoing timing-related impacts from commercial initiatives |
| 4 | JEB revenue decreased by 18.3% to € 117.1 m (9M 2025: € 143.4 m), primarily driven by the USD 25 m Sandoz license sale recognized in Q1 2025, the timing of program-related activities and customer project progression |
| 4 | Horizon is progressing slightly ahead of schedule, supporting the delivery of the previously communicated plan to realize 20–30% of the € 75 m run-rate savings from 2027 into 2026. |
| 4 | Adjusted Group EBITDA totalled € (44.3) m (9M 2025: € (16.9) m) primarily impacted by lower revenue, partly offset by lower R&D expenditure and other operating cost effects, and remained significantly above expectations implied by Q3 consensus estimates and fully in line with the FY 2026 guidance range. |
EVOTEC ADVANCES ITS STRATEGIC PRIORITIES THROUGH NEW AI-ENABLED AND ONCOLOGY COLLABORATIONS
| 4 | August 6: Evotec and Odyssey Therapeutics enter an R&D collaboration in complex autoimmune and inflammatory diseases enabled by Evotec’s deep disease biology expertise and proprietary AI-enabled technologies |
| 4 | September 2: Evotec and Plectonic enter a research collaboration to explore new generation of T-cell-engaging approaches for solid tumors |
| 4 | September 9: Just – Evotec Biologics advances U.S. Department of War antibodies against orthopoxvirus into Phase 1 clinical studies |
2
| INTERIM STATEMENT 9M 2026 |
CORPORATE
| 4 | July 13: Evotec announces preliminary second quarter and first half 2026 results and updates full-year 2026 outlook |
| 4 | September 29: Evotec reports that Chief Scientific Officer (CSO) Dr. Cord Dohrmann will step down effective September 30, 2026 |
DEVELOPMENTS AFTER PERIOD-END
| 4 | October 13: Evotec announces preliminary nine-month 2026 results above market expectations, reaffirms full-year 2026 guidance |
| 4 | October 15: Evotec appoints Dr. Joanna Holbrook as Chief Scientific Officer and member of the Management Board effective November 1, 2026 |
GUIDANCE FOR FULL-YEAR 2026 REAFFIRMED
| 4 | Group revenues expected in the range of € 570 – 610 m (€ 595 – 635 m CER; 2025: € 788.4 m) |
| 4 | Adjusted Group EBITDA is expected to reach € (70) – (105) m (€ (60) – (90) m CER; 2025: € 41.1 m) |
3
| INTERIM STATEMENT 9M 2026 |
FINANCIAL HIGHLIGHTS
Consolidated income statement & segment information
Evotec Group
| 9M 2026 | 9M 2025 | |||||||||||||||||||||||||||||||
| in k€ | D&PD | JEB | Intersegment eliminations | Evotec Group | D&PD | JEB | Intersegment eliminations | Evotec Group | ||||||||||||||||||||||||
| Revenue1 | 347,955 | 117,094 | — | 465,049 | 391,861 | 143,239 | — | 535,100 | ||||||||||||||||||||||||
| Intersegment revenue | 287 | — | (287 | ) | — | 195 | 126 | (321 | ) | — | ||||||||||||||||||||||
| Cost of revenue2 | (320,426 | ) | (128,262 | ) | 287 | (448,402 | ) | (338,876 | ) | (139,432 | ) | 321 | (477,987 | ) | ||||||||||||||||||
| Gross profit (loss) | 27,815 | (11,168 | ) | — | 16,647 | 53,180 | 3,933 | — | 57,114 | |||||||||||||||||||||||
| Gross margin in % | 8.0 | (9.5 | ) | — | 3.6 | 13.6 | 2.7 | — | 10.7 | |||||||||||||||||||||||
| Research and development costs2 | (29,682 | ) | — | — | (29,682 | ) | (42,185 | ) | (71 | ) | — | (42,256 | ) | |||||||||||||||||||
| Selling, general and administrative expenses2 | (97,155 | ) | (24,707 | ) | — | (121,862 | ) | (115,815 | ) | (22,585 | ) | — | (138,400 | ) | ||||||||||||||||||
| Other operating income | 29,553 | 1,603 | — | 31,156 | 38,516 | 2,856 | — | 41,371 | ||||||||||||||||||||||||
| Other operating expenses | (53,987 | ) | (5,132 | ) | — | (59,119 | ) | (7,224 | ) | (3,631 | ) | — | (10,855 | ) | ||||||||||||||||||
| Reorganization costs | (91,922 | ) | — | — | (91,922 | ) | 741 | — | — | 741 | ||||||||||||||||||||||
| Operating income (loss) | (215,377 | ) | (39,405 | ) | — | (254,781 | ) | (72,786 | ) | (19,499 | ) | — | (92,284 | ) | ||||||||||||||||||
| Adjusted EBITDA | (25,470 | ) | (18,846 | ) | — | (44,316 | ) | (18,826 | ) | 1,940 | — | (16,886 | ) | |||||||||||||||||||
1 Group revenue for the nine months ended September 30, 2026 would have amounted to € 477,400 k at constant exchange rates.
2 Certain prior-period amounts have been adjusted to reflect the current period presentation, following the completion of a Group reorganization that revised the functional allocation of cost centers primarily related to the In Silico & Bioinformatics and Alliance Management departments. To ensure comparability, the corresponding prior-year figures were adjusted accordingly. For the nine months ended September 30, 2025, costs of € 21,355 k previously presented as Cost of revenue have been reclassified to Research and development costs and Selling, general and administrative expenses in the amount of € 14,574 k and € 6,781 k, respectively. These reclassifications solely impact the D&PD segment.
4
| INTERIM STATEMENT 9M 2026 |
REPORT ON THE FINANCIAL SITUATION AND RESULTS
1. Results of operations
During the nine months ended September 30, 2026, Group revenue decreased by 13.1% to € 465.0 m compared with € 535.1 m in the corresponding period of the prior year. At constant exchange rates, Group revenue declined by 10.8% to € 477.4 m compared with € 535.1 m in the prior-year period. Base revenue1 decreased by 12.4% from € 503.7 m in 9M 2025 to € 441.1 m in 9M 2026. Revenue in the Discovery & Preclinical Development (D&PD) segment (including intersegment revenue) declined by 11.2% to € 348.2 m for the nine months ended September 30, 2026, compared with € 392.1 m in the prior-year period. The decrease was primarily driven by lower sales-to-revenue conversion across all D&PD business areas, reflecting ongoing timing effects in commercial activities despite early signs of improvement in the market. Revenue from Just – Evotec Biologics (JEB) decreased by 18.3% to € 117.1 m for the nine months ended September 30, 2026, down from € 143.4 m in the prior-year period. The decline was primarily driven by the USD 25 m Sandoz license sale recognized in Q1 2025 and delayed program activities.
Cost of revenue for the nine months ended September 30, 2026 amounted to € 448.4 m compared with € 478.0 m in the corresponding period of 2025, resulting in a gross margin of 3.6% (9M 2025: 10.7%). Within D&PD, cost of revenue totalled € 320.4 m for the nine months ended September 30, 2026, compared with € 338.9 m in the prior-year period. Gross margin decreased to 8.0% from 13.6% in 9M 2025, primarily driven by lower top-line performance and continued underutilization, which is being addressed through Project Horizon. Within JEB, cost of revenue decreased to € 128.3 m in the first nine months of 2026, compared with € 139.4 m in the corresponding period of 2025. Gross margin declined to (9.5)% compared with 2.7% in the first nine months of 2025, reflecting delayed program activities, temporarily higher material and project costs due to production phasing, as well as the Sandoz license income in Q1 2025.
R&D expenses decreased by 29.8% to € 29.7 m, compared with € 42.3 m in the nine months ended September 30, 2025, driven by more focused capital allocation to selected R&D projects. Research and development expenses were incurred predominantly within the D&PD segment.
SG&A expenses for the nine months ended September 30, 2026 amounted to € 121.9 m and were thus € 16.5 m or 11.9% lower compared to last year (9M 2025: € 138.4 m). This change was primarily attributable to lower SG&A expenses within the D&PD segment, which declined to € 97.2 m from € 115.8 m in the first nine months of 2025, mainly due to lower personnel costs following the implementation of the Horizon program and reduced consultancy expenses.
For the nine months ended September 30, 2026, other operating income amounted to € 31.2 m, compared with € 41.4 m in the prior year period. The decrease was primarily attributable to the D&PD segment and mainly driven by lower R&D tax credits from slower activity and the non-recurrence of a € 7.5 m one-off insurance reimbursement related to the cyber-attack that was received in 2025, partially offset by other operating income from transition service agreements.
Other operating expenses increased from € 10.9 m in the first nine months of 2025 to € 59.1 m in the first nine months of 2026. The increase was primarily attributable to an impairment loss of € 42.3 m in the D&PD segment relating to a laboratory building in Hamburg, recognized during 2026, as well as € 3.2 m of expenses related to transition service agreements.
1 Base revenue does not include revenue from licenses, milestone fees and royalties.
5
| INTERIM STATEMENT 9M 2026 |
For the nine months ended September 30, 2026 Reorganization costs amounted to € 91.9 m (9M 2025: income of € 0.7 m), reflecting expenses for provisions and asset impairments related to the previously announced Project Horizon.
Adjusted Group EBITDA for the nine months ended September 30, 2026 represented a loss of € 44.3 m (9M 2025: loss of € 16.9 m) driven by the decrease in top-line performance and partially offset by lower personnel costs following the implementation of the Horizon program. The adjusted EBITDA of the D&PD segment was a loss of € 25.5 m (9M 2025: loss of € 18.8 m), due to reduced revenue, which could only partially be offset by a lower cost base within Cost of revenue, R&D and SG&A. The adjusted EBITDA within JEB has declined to a loss of € 18.8 m (9M 2025: income of € 1.9 m), driven by the revenue shortfall, which was not offset by cost efficiencies.
The net loss for the nine months ended September 30, 2026 amounted to € 195.3 m (9M 2025: € 118.1 m), the variance predominantly driven by higher reorganization expense, asset impairment, and lower revenue, partially offset by the gain from the sale of Tubulis GmbH as well as an overall lower cost base.
2. Cash flows and financial position
Net cash provided by (used in) operating activities in the nine months ended September 30, 2026 amounted to € (155.0) m (9M 2025: € (72.8) m), primarily reflecting the Group’s operating performance and related working capital movements.
Net cash provided by (used in) investing activities for the nine months ended September 30, 2026 amounted to € 14.8 m (9M 2025: € (50.8) m). Proceeds of € 87.8 m (net of hedging) from the disposal of Tubulis GmbH were partially offset by net cash outflows of € (44.0) m (9M 2025: € 26.5 m) related to current investments, mainly reflecting net purchases of short-term deposits. Capital expenditure decreased to € (19.2) m (9M 2025: € (57.8) m), primarily reflecting lower investment levels after the sale of JUST EU at the end of 2025 as well as a more controlled approach to investment decisions.
Net cash provided by (used in) financing activities was € 23.0 m in the nine months ended September 30, 2026 (9M 2025: € 8.6 m), mainly driven by proceeds from convertible bonds and other loans of € 112.9 m (9M 2025: € 42.6 m), partially offset by repayments of loans and lease liabilities of € (86.9) m (9M 2025: € (29.6) m).
Total Liquidity (Cash and cash equivalents and Current investments) decreased to € 400.9 m (December 31, 2025: € 476.4 m).
3. Assets, liabilities, and stockholders’ equity
Assets
Between December 31, 2025 and September 30, 2026, total assets decreased by € 209.0 m to € 1,505.0 m (December 31, 2025: € 1,713.9 m).
Short-term investments rose by € 44.1 m to € 101.9 m (December 31, 2025: € 57.9 m). The increase was mainly due to the purchase of money market funds and short-term deposits.
Trade and other receivables decreased by € 27.4 m to € 108.6 m (December 31, 2025: € 136.0 m). The decrease mainly resulted from cash receipts related to the License Agreement signed in December 2025 as part of the Sandoz transaction.
6
| INTERIM STATEMENT 9M 2026 |
Prepaid expenses and other current assets increased by € 5.3 m to € 35.8 m (December 31, 2025: € 30.5 m), primarily due to an increase in prepayments for insurances, IT and software licenses, as well as subscription fees.
Non-current investments and other non-current financial assets decreased by € 11.9 m to € 36.1 m (December 31, 2025: € 48.0 m). The decrease mainly relates to the sale of Tubulis GmbH to Gilead Sciences, completed on May 21, 2026.
Property, plant and equipment dropped by € 110.1 m to € 444.5 m (December 31, 2025: € 554.6 m). This decrease was mainly driven by depreciation of € 64.6 m and impairments of € 82.7 m, related to Horizon and to a laboratory building at the Company’s Hamburg headquarters. This was partially offset by capital expenditures of € 19.6 m, additions to asset retirement obligations of € 8.8 m and a positive foreign exchange effect totaling € 7.0 m.
Non-current tax assets increased by € 12.9 m to € 49.2 m (December 31, 2025: € 36.3 m). The increase was mainly attributable to R&D tax credits, particularly in Evotec France.
Liabilities
Between December 31, 2025 and September 30, 2026, total liabilities decreased by € 36.9 m to € 863.3 m (December 31, 2025: € 900.2 m).
Current and Non-current financial liabilities increased by € 33.1 m to € 481.8 m (December 31, 2025: € 448.7 m). The increase was primarily driven by the issuance of convertible bonds of € 104.5 m, partially offset by repayments of loans and lease liabilities amounting to € 86.9 m.
Trade and other payables decreased by € 16.2 m to € 48.6 m (December 31, 2025: € 64.8 m). The decrease occurred in the normal course of business.
Current and Non-current contract liabilities decreased by € 75.1 m to € 175.1 m (December 31, 2025: € 250.2 m), reflecting the recognition of revenue in excess of upfront payments received during the period.
Current and Non-current provisions increased by € 25.1 m to € 101.6 m (December 31, 2025: € 76.6 m). The increase is mainly due to Horizon, including € 34.8 m attributable to personnel measures (including severance payments) and € 10.7 m attributable to the recognition of restoration obligations related to affected lease contracts. The provision increase due to Horizon was partially offset by € 19.5 m in reductions in short-term incentive accruals.
Stockholders’ equity
Total stockholders’ equity decreased by € 172.0 m to € 641.7 m (December 31, 2025: € 813.7 m) predominantly as a result of the net loss of the nine months ended September 30, 2026 (€ 195.3 m). This was partially offset by a positive change in other comprehensive income of € 9.9 m driven by foreign currency translation adjustments and an increase in additional paid-in capital of € 12.2 m primarily driven by the recognition of € 8.4 m related to the issuance of convertible bonds.
Evotec’s equity ratio as of September 30, 2026 decreased to 42.6% (December 31, 2025: 47.5%).
7
| INTERIM STATEMENT 9M 2026 |
4. Project Horizon
On March 10, 2026, Evotec announced ‘Horizon’, the next phase in its multi-stage transformation initiative. Horizon establishes a new operating model built across the three pillars of operations, science, and commercial execution.
For the nine months ended September 30, 2026, Evotec recorded reorganization costs totaling € 91.9 m, which were fully allocated to the D&PD segment. These costs are directly attributable to measures linked to the restructuring and are not related to operating activities. These reorganization costs include € 43.3 m attributable to personnel measures (including severance payments) as well as € 43.1 m of impairment losses on property, plant and equipment at affected sites.
The measurement of restructuring provisions is based on estimates and assumptions regarding the amount of severance payments, the timeline for the implementation of the measures and the progress of discussions in accordance with local labor laws and regulations. The measurement assumptions are regularly reviewed as the restructuring program progresses.
5. Human Resources
Employees
Headquartered in Hamburg, Germany, the Evotec Group employed an average of 4,379 people globally for the nine months ended September 30, 2026, which corresponds to a decrease of 378 (7.9%) compared to the 2025 twelve months average of 4,757. The decrease primarily reflects the divestiture of Just – Evotec Biologics EU, completed in December 2025, as well as workforce reductions associated with Project Horizon through Q3 2026. Other workforce movements partially offset the overall decrease in employee headcount.
8
| INTERIM STATEMENT 9M 2026 |
UNAUDITED INTERIM CONDENSED CONSOLIDATED FINANCIAL STATEMENTS
Income statement of the Evotec Group for the period from January 1 to September 30
| in k€ except share and per share data | 9M 2026 | 9M 2025 | ||||||
| Revenue | 465,049 | 535,100 | ||||||
| Cost of revenue1 | (448,402 | ) | (477,987 | ) | ||||
| Gross profit (loss) | 16,647 | 57,114 | ||||||
| Operating income (expenses) | ||||||||
| Research and development costs1 | (29,682 | ) | (42,256 | ) | ||||
| Selling, general and administrative expenses1 | (121,862 | ) | (138,400 | ) | ||||
| Other operating income | 31,156 | 41,371 | ||||||
| Other operating expenses | (59,119 | ) | (10,855 | ) | ||||
| Reorganization costs | (91,922 | ) | 741 | |||||
| Total operating income (expenses) | (271,429 | ) | (149,398 | ) | ||||
| Operating income (loss) | (254,781 | ) | (92,284 | ) | ||||
| Non-operating income (expenses) | ||||||||
| Realized gain (loss) on investments and financial instruments revaluation | 68,459 | 1,739 | ||||||
| Share of profit (loss) and revaluation of at-equity investments | (1,525 | ) | (736 | ) | ||||
| Other financial income | 4,683 | 3,264 | ||||||
| Other financial expenses | (9,462 | ) | (10,685 | ) | ||||
| Other non-operating income (expenses) | 303 | (17,527 | ) | |||||
| Net income (loss) before taxes | (192,324 | ) | (116,230 | ) | ||||
| Income taxes | (3,005 | ) | (1,911 | ) | ||||
| Net income (loss) | (195,329 | ) | (118,141 | ) | ||||
| Weighted average shares outstanding | 177,653,851 | 177,598,303 | ||||||
| Net result per share (basic) | (1.10 | ) | (0.67 | ) | ||||
| Net result per share (diluted) | (1.10 | ) | (0.67 | ) | ||||
1 Certain prior-period amounts have been adjusted to reflect the current period presentation, following the completion of a Group reorganization that revised the functional allocation of cost centers primarily related to the In Silico & Bioinformatics and Alliance Management departments. To ensure comparability, the corresponding prior-year figures were adjusted accordingly. For the nine months ended September 30, 2025, costs of € 21,355 k previously presented as Cost of revenue have been reclassified to Research and development costs and Selling, general and administrative expenses in the amount of € 14,574 k and € 6,781 k, respectively.
9
| INTERIM STATEMENT 9M 2026 |
Statement of Cash Flows of the Evotec Group for the period from January 1 to September 30
| in k€ | 9M 2026 | 9M 2025 | ||||||
| Cash flows from operating activities: | ||||||||
| Net income (loss) | (195,329 | ) | (118,141 | ) | ||||
| Adjustments to reconcile net income to net cash used in operating activities1 | 107,215 | 112,410 | ||||||
| Change in assets and liabilities | (66,902 | ) | (67,077 | ) | ||||
| Net cash provided by (used in) operating activities | (155,016 | ) | (72,809 | ) | ||||
| Cash flows from investing activities: | ||||||||
| Interest received | 5,964 | 3,269 | ||||||
| Purchase of property, plant and equipment | (19,162 | ) | (57,846 | ) | ||||
| Proceeds from sale of property, plant and equipment | 36 | 25 | ||||||
| Purchase of intangible assets and additions to capitalized development expenditures | (10,649 | ) | (9,256 | ) | ||||
| Investments to acquire associated companies, other non-current investments and convertibles | (2,390 | ) | (10,360 | ) | ||||
| Proceeds from the disposal of associated companies, other non-current investments and convertibles, net of transaction costs | 89,287 | (3,764 | ) | |||||
| Purchase of current investments | (70,054 | ) | (2,988 | ) | ||||
| Proceeds from sale of current investments | 26,056 | 29,472 | ||||||
| Dividends received | — | 1,053 | ||||||
| Proceeds from (payments due to) the disposal of subsidiaries | (4,282 | ) | (396 | ) | ||||
| Net cash provided by (used in) investing activities | 14,807 | (50,791 | ) | |||||
| Cash flows from financing activities: | ||||||||
| Interest paid | (3,120 | ) | (4,638 | ) | ||||
| Proceeds from convertible bonds and other loans2 | 112,931 | 42,596 | ||||||
| Proceeds from exercise of share options | 131 | 218 | ||||||
| Repayment of loans | (66,674 | ) | (13,039 | ) | ||||
| Repayment of lease liabilities | (20,240 | ) | (16,538 | ) | ||||
| Net cash provided by (used in) financing activities | 23,028 | 8,599 | ||||||
| Net increase (decrease) in Cash and cash equivalents | (117,181 | ) | (115,001 | ) | ||||
| Effects of revaluation and of movements in exchange rates on cash held | (2,323 | ) | (12,113 | ) | ||||
| Cash and cash equivalents at beginning of the year | 418,517 | 306,387 | ||||||
| Cash and cash equivalents at end of the period3 | 299,012 | 179,272 | ||||||
1 Adjustments include the following material non recurring items: Impairments in the amount of € 82,810 k partially offset by the gain from the sale of Tubulis GmbH in the amount of € (71,929) k.
2 Including transaction costs, which were presented as a separate line item in the amount of € (1,365) k in the published 9M 2025 Interim Statement.
3 On September 30, 2025 € 5.2 m of Cash and cash equivalents were classified as Assets classified as held for sale and related to JUST - Evotec Biologics EU SAS.
10
| INTERIM STATEMENT 9M 2026 |
Statement of financial position of the Evotec Group as of September 30, 2026 and as of December 31, 2025
| in k€ | 09/30/2026 | 12/31/2025 | ||||||
| ASSETS | ||||||||
| Current assets: | ||||||||
| Cash and cash equivalents | 299,012 | 418,517 | ||||||
| Investments | 101,925 | 57,873 | ||||||
| Trade and other receivables | 108,556 | 135,963 | ||||||
| Contract assets | 28,683 | 28,295 | ||||||
| Inventories | 37,710 | 29,317 | ||||||
| Current tax assets | 34,033 | 38,453 | ||||||
| Other current financial assets including derivatives | 17,541 | 20,217 | ||||||
| Prepaid expenses and other current assets | 35,803 | 30,480 | ||||||
| Assets classified as held for sale | — | 3,830 | ||||||
| Total current assets | 663,263 | 762,945 | ||||||
| Non-current assets: | ||||||||
| Non-current investments and other non-current financial assets | 36,107 | 48,004 | ||||||
| Investments in associates and joint ventures | 3,107 | 4,629 | ||||||
| Property, plant and equipment | 444,536 | 554,626 | ||||||
| Intangible assets and goodwill | 307,234 | 303,936 | ||||||
| Deferred tax assets | 113 | 2,949 | ||||||
| Non-current tax assets | 49,247 | 36,349 | ||||||
| Other non-current assets | 1,364 | 507 | ||||||
| Total non-current assets | 841,707 | 951,000 | ||||||
| Total assets | 1,504,970 | 1,713,945 | ||||||
11
| INTERIM STATEMENT 9M 2026 |
| in k€ | 09/30/2026 | 12/31/2025 | ||||||
| LIABILITIES AND STOCKHOLDERS' EQUITY | ||||||||
| Current liabilities: | ||||||||
| Current financial liabilities | 64,607 | 104,720 | ||||||
| Trade and other payables | 48,578 | 64,763 | ||||||
| Contract liabilities | 60,369 | 104,849 | ||||||
| Deferred income | 3,714 | 3,220 | ||||||
| Provisions | 74,255 | 58,543 | ||||||
| Current income tax liabilities | 8,710 | 10,578 | ||||||
| Other current liabilities | 25,408 | 21,401 | ||||||
| Total current liabilities | 285,641 | 368,074 | ||||||
| Non-current liabilities: | ||||||||
| Non-current financial liabilities | 417,207 | 344,008 | ||||||
| Deferred tax liabilities | 11,992 | 14,735 | ||||||
| Provisions | 27,378 | 18,035 | ||||||
| Contract liabilities | 114,746 | 145,324 | ||||||
| Deferred income | 6,346 | 8,350 | ||||||
| Other non-current liabilities | — | 1,715 | ||||||
| Total non-current liabilities | 577,668 | 532,167 | ||||||
| Stockholders’ equity: | ||||||||
| Share capital | 177,910 | 177,779 | ||||||
| Treasury shares, at cost | (531 | ) | (1,548 | ) | ||||
| Additional paid-in capital | 1,470,677 | 1,458,466 | ||||||
| Retained earnings | (971,215 | ) | (775,887 | ) | ||||
| Accumulated other comprehensive income | (35,179 | ) | (45,106 | ) | ||||
| Total stockholders' equity | 641,661 | 813,704 | ||||||
| Total liabilities and stockholders’ equity | 1,504,970 | 1,713,945 | ||||||
12
| INTERIM STATEMENT 9M 2026 |
Adjusted EBITDA Reconciliation
| in k€ | 9M 2026 | 9M 2025 | ||||||
| Operating income (loss) | (254,781 | ) | (92,284 | ) | ||||
| Depreciation of tangible assets | 64,614 | 69,860 | ||||||
| Amortization of intangible assets | 5,523 | 5,811 | ||||||
| Impairment of tangible assets1 | 42,330 | — | ||||||
| External cyber-related costs, net of reimbursements | — | (6,203 | ) | |||||
| Reorganization costs | 91,922 | (741 | ) | |||||
| One-off arbitration costs | — | 3,785 | ||||||
| (Income) / Expenses related to the disposal of Just - Evotec Biologics EU SAS | 3,202 | 2,885 | ||||||
| (Income) / Expenses related to the disposal of associate companies | (254 | ) | — | |||||
| Other non-recurring costs | 3,128 | — | ||||||
| Adjusted EBITDA | (44,316 | ) | (16,886 | ) | ||||
1 Impairment of tangible assets not included in reorganization costs
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| INTERIM STATEMENT 9M 2026 |
Subsequent Events
On October 15, 2026, the Company announced that the Supervisory Board of Evotec SE appointed Dr. Joanna Holbrook as Chief Scientific Officer and member of the Management Board with effect from November 1, 2026. She replaces Dr. Cord Dohrmann, who stepped down from this position on September 30, 2026.
Notes
Each financial statement line item is rounded individually. Totals and subtotals may therefore deviate slightly from the sum of the individual items.
FORWARD-LOOKING STATEMENTS
This Q3 interim statement contains forward-looking statements concerning future events. Words such as “anticipate,” “believe,” “could,” “estimate,” “expect,” “intend,” “may,” “might,” “plan,” “potential,” “should,” “target,” “would” and variations of such words and similar expressions are intended to identify forward-looking statements. Such statements include comments regarding Evotec’s expectations for revenue and Adjusted Group EBITDA. These forward-looking statements are based on the information available to, and the expectations and assumptions deemed reasonable by Evotec at the time these statements were made. No assurance can be given that such expectations will prove to correct. These statements involve known and unknown risks and are based upon certain assumptions and estimates, which are inherently subject to significant uncertainties and contingencies, many of which are beyond the control of Evotec. Evotec expressly disclaims any obligations or undertaking to release publicly any updates or revisions to any forward-looking statements contained herein to reflect any change in Evotec’s expectations with respect thereto or any change in events, conditions, or circumstances on which any statement is based.
14
Exhibit 99.2
Evotec Reports Third Quarter and Nine-Month 2026 Results: Building Growth Momentum Toward 2030 Goals
| · | Financial performance: Q3 and nine-month Group revenue of €164.9 m and €465.0 m, respectively (Q3: €164.2 m, 9M: €477.4 m at CER); adj. Group EBITDA of -€1.6 m and -€44.3 m, respectively (Q3: -€1.7 m, 9M: -€39.1 m at CER) |
| · | Robust commercial momentum: Net sales* in D&PD base business increased 24% vs. 9M 2025 accompanied by continued positive development across key commercial indicators. |
| · | FY 2026 guidance reaffirmed: Expected Group revenue of €570 to €610 m (€595 to €635 m CER) and adj. Group EBITDA of -€105 to -€70 m (-€90 to -€60 m CER). |
| · | 2030 framework further detailed: Around €1 billion in Group revenue by 2030 with further upside potential; adjusted EBITDA margin of 20% at YE 2028 and above 20% at YE 2030. |
| · | Continued progress across differentiated platforms: Evotec confirms selection by Vertex Pharmaceuticals for commercial manufacturing of povetacicept; advancement of orthopoxvirus antibody program into Phase 1 in collaboration with DoW; new collaborations with Plectonic and Odyssey Therapeutics broaden partnered innovation activities. |
| · | Horizon transformation ahead of plan: More than 20% of €75 million annual run-rate savings target delivered by September, already within 20-30% contribution planned for full-year 2026; workforce and footprint measures on track. |
| · | Leadership Update: Dr. Joanna Holbrook appointed Chief Scientific Officer, strengthening Evotec’s focus on scientific excellence, platform differentiation and partnered innovation. |
| · | Investor and analyst webcast and conference call today: 2 p.m. CET / 1 p.m. GMT / 8 a.m. EST; registration and webcast details below. |
Hamburg, Germany, November 5, 2026 - Evotec SE (NASDAQ: EVO; Frankfurt Prime Standard: EVT) today announced financial results for the third quarter and first nine months of 2026, provided an update on the implementation of its Horizon transformation and outlined its strategic and financial ambition for 2030.
*Net Sales: includes signed work orders, positive change orders and negative change orders
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Dr. Christian Wojczewski, Chief Executive Officer of Evotec, said:
“During the third quarter and first nine months of 2026, we made encouraging progress across several areas that are important to Evotec’s future development. Commercial momentum remained solid, Horizon is delivering ahead of plan and Just – Evotec Biologics is advancing toward commercial-scale manufacturing. Implementation of our strategy is gaining momentum and is increasingly reflected in our performance. Group revenue reached €164.9 million in the third quarter, well above the first two quarters of the year, supported by a robust contribution from the D&PD base business.
We also successfully launched several new partnerships based on our technology platforms. Recent examples include Plectonic, where we are exploring new T-cell-engaging approaches in solid tumors. With Odyssey Therapeutics, our AI-enabled discovery platform is supporting drug discovery in autoimmune and inflammatory diseases. These collaborations illustrate how we are applying our differentiated scientific capabilities in new areas, creating exciting opportunities with partners.”
Selected Business Highlights
Evotec made strong progress across its differentiated platforms and strategic partnerships:
Just – Evotec Biologics (JEB)
| · | Vertex Pharmaceuticals – Commercial Manufacturing of Povetacicept: Evotec confirms that Just – Evotec Biologics has been selected by Vertex Pharmaceuticals for commercial manufacturing of povetacicept at its J.POD® Redmond facility. The agreement marks an important step in the evolution of JEB’s continuous manufacturing platform toward commercial readiness. Evotec is highly confident in its ability to fulfill its commercial manufacturing and supply commitments to Vertex. | |
| · | DoW Orthopoxvirus Program – JST-018 Phase 1 Initiated: In September 2026, Evotec announced the initiation of a Phase 1 clinical trial evaluating JST-018, an investigational antibody cocktail developed by Just – Evotec Biologics under the U.S. Department of War’s Accelerated Antibodies Program. Just – Evotec Biologics advanced the program from antibody sequence selection through preclinical development, process development, regulatory submission and cGMP manufacture of clinical trial materials. |
Discovery and Preclinical Development (D&PD)
| · | Jazz Pharmaceuticals – Phase 1 Initiated: Jazz Pharmaceuticals has initiated a Phase 1 clinical trial of a candidate for the potential treatment of narcolepsy and idiopathic hypersomnia. The candidate was discovered through Jazz’s sleep disorders collaboration with Evotec. Evotec combined its proprietary virtual screening and generative AI platforms with rational design to identify novel leads, subsequently optimized with the aid of cryoEM and molecular dynamics simulations. Evotec is eligible to milestone payments. |
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| · | Plectonic Research Collaboration – Novel Immunotherapy Approaches: In September 2026, Evotec and Plectonic entered a research collaboration combining Evotec’s BiTco platform with Plectonic’s LOGIBODY® technology to explore new T-cell-engaging approaches for solid tumors. The collaboration will generate preclinical proof-of-concept data to evaluate whether the combined technologies can improve the precision and potency of these approaches. | |
| · | Odyssey Therapeutics Research Collaboration – AI-Enabled Drug Discovery: In August 2026, Evotec entered an R&D collaboration combining Odyssey’s expertise in autoimmune and inflammatory diseases with Evotec’s AI-enabled discovery platform, advanced screening capabilities and proprietary compound libraries. Evotec is eligible to receive milestone payments based on the successful delivery of validated starting points for drug discovery across multiple targets. |
Commercial Execution
Commercial momentum and execution continued to strengthen during the third quarter of 2026. Net sales in the D&PD base business, comprising stand alone services and integrated programs, increased by 24% year-on-year in the first nine months. Positive trends extended across the commercial funnel, with growth in the customer base, higher proposal activity and faster proposal turnaround. The strategic partnership opportunity pipeline also continued to expand.
Horizon Transformation
Horizon is progressing ahead of plan, with structural measures translating into measurable financial and operational improvements. By the end of September, Evotec had delivered more than 20% of the €75 million in annual run-rate savings targeted by the end of 2027, already within the 20-30% contribution planned for full-year 2026. Approximately half of the planned workforce reductions have been implemented. Footprint consolidation is advancing, with three of the four site closures expected to be completed by year-end and the fourth in the first quarter of 2027. Alongside these measures, Evotec is concentrating scientific capabilities in focused Centers of Excellence and strengthening commercial execution to build a more efficient operating model and support sustainable profitability. Evotec expects to deliver the transformation program in full and on schedule by the end of 2027.
Leadership Update
Chief Scientific Officer: Dr. Joanna Holbrook
As announced on October 15, 2026, Dr. Joanna Holbrook has succeeded Dr. Cord Dohrmann as Chief Scientific Officer and member of Evotec’s Management Board, effective November 1, 2026.
Bringing more than 25 years of experience as a scientist and R&D leader, Dr. Holbrook will lead Evotec’s global scientific strategy, with a focus on strengthening scientific differentiation across discovery and development services, technology platforms and proprietary innovation. Her expertise across data, AI and novel technologies will support Evotec in building integrated solutions to important challenges in drug discovery and helping customers and partners discover and develop new medicines faster and with a greater probability of success.
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2030 Mid-Range Framework - Building a Structurally Stronger Business
Evotec is building a more balanced and profitable business, drawing on the distinctive strengths of its component parts. The 2030 framework calls for around €1 billion in Group revenue by 2030, with potential for additional upside. It includes an adjusted EBITDA margin of 20% by the end of 2028, rising above 20% by the end of 2030.
The D&PD base business, comprising standalone services and integrated programs, is expected to contribute approximately 40% of Group revenue in 2030. Growth is expected to be supported by continued market recovery, commercial investments and Evotec’s differentiated service offerings.
D&PD strategic partnerships and innovation-related activities are expected to contribute approximately 20% at above-average margins. This contribution incorporates risk-adjusted assumptions regarding program progression and associated revenue, while future royalty income is not included. Performance exceeding these assumptions could provide additional revenue upside beyond the approximately €1billion framework.
Just – Evotec Biologics is expected to contribute approximately 40% of Group revenue as the business scales, supported by capacity expansion, licensing income and future, contractually agreed royalties.
Profitability is expected to benefit from greater contribution from scalable, higher-margin activities, operating leverage and continued cost efficiency.
Financial Results
Claire Hinshelwood, Chief Financial Officer of Evotec, said:
“Our strong third-quarter performance reflects the positive impact of the commercial investments and Horizon initiatives launched earlier this year. We are now seeing these efforts translate into improved profitability and operational momentum. Looking ahead, our focus remains on converting this momentum into sustainable revenue growth and stronger cash generation, while maintaining disciplined cost management, liquidity oversight, and capital allocation. Today, we are pleased to provide greater transparency into our 2030 financial framework, including the business mix and operational drivers that support a high-quality, diversified platform for future earnings growth.”
Group Financials
For the third quarter of 2026, Group revenue amounted to €164.9 million (€164.2 million CER), essentially unchanged from €163.9 million in the prior-year quarter. Adjusted Group EBITDA was -€1.6 million (-€1.7 million CER), versus -€15.0 million in the same prior-year period, reflecting a marked year-on-year improvement of 89.1% primarily attributable to lower cost of revenue.
For the nine months ended September 30, 2026, Group revenue amounted to €465.0 million (€477.4 million CER), compared with €535.1 million in the prior-year period, reflecting a 13.1% decline. Consistent with the Company’s focus on cost discipline, R&D expenses amounted to €29.7 million or 6.4% of total Group revenue, compared with €42.3 million or 7.9% of total Group revenue in the prior-year period. Adjusted Group EBITDA decreased to -€44.3 million (-€39.1 million CER), down from -€16.9 million for the nine months ending September 30, 2025. The decrease in revenue was partially offset by lower cost of revenue.
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Evotec closed the third quarter of 2026 with a liquidity position of €400.9 million, reflecting a net debt position.
Segment Financials (excluding intersegment revenue)
Discovery and Preclinical Development (D&PD)
For the third quarter of 2026, revenue for Discovery & Preclinical Development totaled €120.1 million (€119.6 million CER), representing a modest year-on-year decline of 2.3%. Adjusted EBITDA for the quarter improved to -€1.0 million (-€1.4 million CER), compared with -€9.5 million in the third quarter of 2025.
For the first nine months of 2026, revenue totaled €348.0 million (€355.5 million CER), compared with €391.9 million in the prior-year period. The 11.2% year-on-year decrease was primarily driven by lower sales-to-revenue conversion across all D&PD segments. Adjusted EBITDA for the segment was -€25.5 million (-€19.8 million CER), compared with -€18.8 million in the prior-year period. The decrease was primarily driven by lower revenue and partially offset by a lower cost base across cost of revenue, R&D and SG&A.
Just – Evotec Biologics (JEB)
Third quarter 2026 revenue at Just – Evotec Biologics totaled €44.8 million (€44.6 million CER), representing a 9.4% increase compared with the prior-year period. Adjusted EBITDA reached -€0.6 million (-€0.3 million CER), compared with -€5.5 million in the prior-year period.
For the first nine months of 2026, revenue totaled €117.1 million (€121.9 million CER), compared with €143.2 million in the same period in 2025. The 18.3% year-on-year decrease was primarily driven by the $25 million Sandoz license sale recognized in Q1 2025 and delayed program activities. Adjusted EBITDA amounted to -€18.8 million (-€19.3 million CER), compared with an Adjusted EBITDA of €1.9 million in the prior-year period.
Reaffirming Full-Year 2026 Guidance
Evotec confirms its full-year 2026 outlook for Group revenue of approximately €570 to €610 million (€595 to €635 million CER) and adjusted Group EBITDA of approximately -€105 to -€70 million (-€90 to -€60 million CER).
Strategic Review
The strategic evaluation announced in connection with the Company's first quarter 2026 results on May 6, 2026, remains ongoing and continues alongside the implementation of the Horizon transformation program. Additional details regarding the review are available in the Company's Q1 2026 results announcement.
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Webcast Details
Evotec will host a webcast and conference call today at 2 p.m. CET / 1 p.m. GMT / 8 a.m. EST.
To join the audio webcast and to access the presentation slides, please register via this link.
The on-demand replay of the webcast will be available under the same link after the event and on our website.
Conference Call Details
To join the conference call, please pre-register via this link. You will receive a confirmation email with dedicated dial-in details such as telephone number, access code and PIN to access the call. A simultaneous slide presentation for participants dialing in via phone is available under this link.
About Evotec SE
Evotec is a life science company pioneering the future of drug discovery and development. By integrating breakthrough science with AI-driven innovation and advanced technologies, Evotec accelerates the journey from concept to cure with greater speed, intelligence and precision. The company's expertise spans small molecules, biologics, cell therapies and associated modalities, supported by proprietary platforms including Molecular Patient Databases, PanOmics and induced pluripotent stem cell-based disease modeling. Through flexible partnering models tailored to customers' needs, Evotec works with all Top 20 pharmaceutical companies, more than 800 biotechnology companies, academic institutions and other healthcare stakeholders. Evotec's offerings range from standalone services to fully integrated research and development programs and long-term strategic partnerships, combining scientific excellence with operational agility. Through Just - Evotec Biologics, the company is redefining biologics development and manufacturing to improve accessibility and affordability. With a portfolio of more than 100 proprietary research and development assets, most of which are co-owned, Evotec focuses on key therapeutic areas including oncology, cardiovascular and metabolic diseases, neurology and immunology. Evotec's global team of around 4,500 experts operates from sites in Europe and the United States, providing complementary technologies and services through a network of synergistic centers of excellence. Learn more at www.evotec.com and follow Evotec on LinkedIn and X at @Evotec.
Forward-Looking Statements
This announcement contains forward-looking statements concerning future events, including Evotec's financial results, full-year 2026 outlook, expected commercial conversion, anticipated strategic partnership and milestone contributions, Horizon implementation, expected cost savings, liquidity, financial flexibility and future business performance. Words such as “anticipate,” “believe,” “could,” “estimate,” “expect,” “intend,” “may,” “might,” “plan,” “potential,” “should,” “target,” “would” and variations of these words and similar expressions are intended to identify forward-looking statements. These forward-looking statements are based on information available to Evotec and on expectations and assumptions considered reasonable by the company at the time the statements were made. No assurance can be given that these expectations will prove correct. Forward-looking statements involve known and unknown risks and are based on assumptions and estimates that are inherently subject to significant uncertainties and contingencies, many of which are beyond Evotec's control. Evotec expressly disclaims any obligation or undertaking to publicly update or revise any forward-looking statements contained in this announcement to reflect changes in expectations, events, conditions or circumstances, except as required by applicable law.
Investor Relations and Media Contact
Dr. Sarah Fakih
EVP, Head of Global Communications & Investor Relations
Sarah.Fakih@evotec.com
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Key figures of consolidated income statement & segment information
| Three months ended 30 September 2026 | Three months ended 30 September 2025 | |||||||||||||||||||||||
| (in € thousands) | D&PD | JEB | Evotec Group | D&PD | JEB | Evotec Group | ||||||||||||||||||
| Revenue | 120,086 | 44,840 | 164,926 | 122,892 | 40,994 | 163,887 | ||||||||||||||||||
| Intersegment revenue | 81 | — | — | 166 | 103 | — | ||||||||||||||||||
| Costs of revenue | (102,460 | ) | (42,752 | ) | (145,130 | ) | (110,909 | ) | (46,495 | ) | (157,135 | ) | ||||||||||||
| Gross profit | 17,708 | 2,088 | 19,796 | 12,150 | (5,397 | ) | 6,752 | |||||||||||||||||
| Gross margin | 14.7 | % | 4.7 | % | 12.0 | % | 9.9 | % | (13.1 | )% | 4.1 | % | ||||||||||||
| R&D expenses | (9,344 | ) | — | (9,344 | ) | (12,839 | ) | (9 | ) | (12,848 | ) | |||||||||||||
| SG&A expenses | (30,659 | ) | (8,125 | ) | (38,784 | ) | (38,036 | ) | (6,954 | ) | (44,990 | ) | ||||||||||||
| Other operating income | 8,587 | 540 | 9,127 | 10,630 | 1,099 | 11,730 | ||||||||||||||||||
| Other operating expense | (4,323 | ) | (3,586 | ) | (7,909 | ) | (2,157 | ) | (3,097 | ) | (5,254 | ) | ||||||||||||
| Reorganization costs | 7,003 | — | 7,003 | 108 | — | 108 | ||||||||||||||||||
| Operating income (loss) | (11,029 | ) | (9,083 | ) | (20,112 | ) | (30,145 | ) | (14,357 | ) | (44,502 | ) | ||||||||||||
| Adjusted EBITDA | (1,032 | ) | (600 | ) | (1,632 | ) | (9,498 | ) | (5,538 | ) | (15,036 | ) | ||||||||||||
| Nine months ended 30 September 2026 | Nine months ended 30 September 2025 | |||||||||||||||||||||||
| (in € thousands) | D&PD | JEB | Evotec Group | D&PD | JEB | Evotec Group | ||||||||||||||||||
| Revenue | 347,955 | 117,094 | 465,049 | 391,861 | 143,239 | 535,100 | ||||||||||||||||||
| Intersegment revenue | 287 | — | — | 195 | 126 | — | ||||||||||||||||||
| Costs of revenue | (320,426 | ) | (128,262 | ) | (448,402 | ) | (338,876 | ) | (139,432 | ) | (477,987 | ) | ||||||||||||
| Gross profit | 27,815 | (11,168 | ) | 16,647 | 53,180 | 3,933 | 57,114 | |||||||||||||||||
| Gross margin in % | 8.0 | % | (9.5 | )% | 3.6 | % | 13.6 | % | 2.7 | % | 10.7 | % | ||||||||||||
| R&D expenses | (29,682 | ) | — | (29,682 | ) | (42,185 | ) | (71 | ) | (42,256 | ) | |||||||||||||
| SG&A expenses | (97,155 | ) | (24,707 | ) | (121,862 | ) | (115,815 | ) | (22,585 | ) | (138,400 | ) | ||||||||||||
| Other operating income | 29,553 | 1,603 | 31,156 | 38,516 | 2,856 | 41,371 | ||||||||||||||||||
| Other operating expense | (53,987 | ) | (5,132 | ) | (59,119 | ) | (7,224 | ) | (3,631 | ) | (10,855 | ) | ||||||||||||
| Reorganization costs | (91,922 | ) | — | (91,922 | ) | 741 | — | 741 | ||||||||||||||||
| Operating income (loss) | (215,377 | ) | (39,405 | ) | (254,781 | ) | (72,786 | ) | (19,499 | ) | (92,284 | ) | ||||||||||||
| Adjusted EBITDA | (25,470 | ) | (18,846 | ) | (44,316 | ) | (18,826 | ) | 1,940 | (16,886 | ) | |||||||||||||
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