On August 14, 2026 Evotec SE (NASDAQ: EVO; Frankfurt Prime Standard: EVT) reported financial results for the second quarter and first half of 2026 and confirmed its updated full-year 2026 outlook.

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Dr. Christian Wojczewski, Chief Executive Officer of Evotec, said:

"While the first half of 2026 results reflect the challenging start to the year previously anticipated, we are seeing clear and encouraging signs that our actions are gaining traction. Commercial activity is improving across both segments, with strong growth in D&PD base net sales, increasing customer engagement and continued momentum at Just – Evotec Biologics. At the same time, Horizon is progressing according to plan, supporting greater focus, accountability and efficiency across the organization. While the financial benefits of these developments will take time to fully materialize, they represent important building blocks for recovery and the next phase of growth. We continue to see attractive opportunities across both segments and remain confident in the strength of our strategic partnership pipeline, with a significant portion of opportunities progressing through advanced discussions. Our continued investment in next-generation discovery capabilities, including our proteomics and transcriptomics platforms, strengthens our scientific differentiation, enhances the quality of our partner offerings and expands future opportunities for strategic collaborations."

Selected Business Highlights

Strategic Partnership Pipeline

Evotec maintains an active strategic partnership opportunity pipeline, supported by ongoing discussions across a broad range of therapeutic areas and modalities. The Company is actively advancing opportunities at various stages of evaluation, including a significant number in advanced due diligence and term sheet discussions. While Evotec remains confident in its ability to enter new strategic partnerships in 2026, the timing, complexity and revenue ramp-up associated with individual agreements remain inherently variable and are reflected in the Company’s updated full-year 2026 outlook.

As communicated in the outlook update on July 14, 2026, Evotec expects lower contributions from both existing and potential new strategic partnerships in 2026 than previously anticipated. Approximately 40% of the reduction in expected full-year 2026 revenue relative to the previous outlook reflects revised project phasing and milestone schedules for existing partnerships, with the associated revenues now expected to be recognized in 2027. Approximately 45% reflects lower-than-anticipated contributions from potential new strategic partnerships due to the timing of agreement execution and development activities. Approximately 15% is attributable to lower-than-expected revenue conversion against the Company’s internal ambition for accelerated sales-to-revenue conversion, with the associated revenues now also expected to shift into 2027.

Commercial Execution

Commercial execution remains a key focus area of the Horizon transformation and an important driver of Evotec’s path to recovery. Within the Horizon transformation, the Company has strengthened its commercial organization, sharpened customer focus and enhanced business development processes across both segments. These efforts are increasingly reflected in commercial indicators, including higher customer engagement, growing new business activity and improved sales effectiveness.

Commercial momentum across Evotec’s base CRO and CDMO businesses strengthened during the first half of 2026. In Drug Discovery & Preclinical Development (D&PD), net sales increased by more than 28% year-on-year, reflecting improved customer engagement and commercial execution. Just – Evotec Biologics continues to demonstrate positive operating momentum as well, supported by high-capacity utilization and expansion of its customer base.

Based on the typical conversion cycle between sales generation and revenue recognition, increased commercial activity in D&PD is expected to contribute increasingly to revenues from the fourth quarter of 2026 onwards.

Governance Update: Supervisory Board Transition

Camilla Macapili Languille has decided to step down from Evotec’s Supervisory Board effective August 7, 2026. Since her appointment in June 2022, she has served as an independent Supervisory Board member and as a member of the Audit & Compliance Committee. Following her departure, Supervisory Board member Wes Wheeler has been appointed by the Supervisory Board to the Audit & Compliance Committee. Evotec would like to thank Ms. Macapili Languille for her commitment and service.

The Supervisory Board has initiated the process to identify a successor and will focus on candidates with strong financial expertise to maintain the Supervisory Board’s balanced competency profile and committee composition.

Strategic Evaluation

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.

Horizon Transformation

Horizon remains Evotec’s framework for the next phase of its transformation, focused on operational excellence, scientific leadership and commercial execution.

Since the launch of Horizon in March 2026, Evotec has continued to advance measures to streamline operations, increase agility and focus resources on areas with the clearest path to value. The updated full-year 2026 outlook does not change the strategic direction of Horizon or the timeline for its implementation.

Evotec remains on track to deliver approximately 20-30% of cost savings in 2026 as part of its previously announced objective of €75 million in annual run-rate savings by the end of 2027. Horizon measures implemented to date are delivering as planned, with first-half savings providing a foundation for achieving the expected 2026 savings contribution.

Financial Results

Claire Hinshelwood, Chief Financial Officer of Evotec, said:

"As previously announced, we confirm that our updated full-year outlook primarily reflects a revised view surrounding strategic partnership activities and milestone contributions in the second half of the year. The reduced contribution from these activities is expected to affect profitability disproportionately relative to revenues, reflecting their typically attractive economics and impact on overall capacity utilization. The current year continues to require disciplined execution and careful cash flow management. We remain focused on driving efficiency across the organization, increasing transparency around our business performance and strategic priorities and delivering on our Horizon objectives. Alongside ongoing cost and footprint optimization, we continue to invest in key strategic areas to support future growth opportunities while preserving financial flexibility."

Group Financials

For the second quarter of 2026, Group revenues amounted to €143.5 million (€146.3 million CER) compared to €171.2 million in the same period in 2025, representing a 16.2% decrease. Adjusted Group EBITDA was -€20.8 million (-€18.6 million CER), reflecting a decrease of 320.3% versus -€5.0 million in the same prior-year period, mainly driven by lower revenues.

For the six months ended June 30, 2026, Evotec generated Group revenues of €300.1 million (€313.2 million CER), a 19.2% decline versus €371.2 million in the first half of 2025. R&D expenses were managed in line with the Company’s focus on cost discipline, decreasing to €20.3 million (6.8% of total Group revenues) compared to €29.4 million in the prior year (7.9% of total Group revenues). Adjusted Group EBITDA decreased to -€42.7 million (-€37.4 million CER), down from -€1.9 million for H1 2025. The decrease was partially offset by lower cost of revenue as well as reduced R&D and SG&A expenses.

Evotec closed the second quarter of 2026 with a liquidity position of €465.6 million, reflecting a net cash position.

Segment Financials

Discovery and Preclinical Development (D&PD)

For the second quarter of 2026, revenues for Discovery & Preclinical Development amounted to €108.1 million (€109.5 million CER), representing a year-on-year decrease of 15.8%. Adjusted EBITDA for the quarter amounted to -€14.6 million (-€13.0 million CER), down from -€2.5 million in the second quarter of 2025.

For the first half of 2026, revenues totaled €228.1 million (€235.9 million CER), representing a year-on-year decrease of 15.3% compared with €269.0 million in the prior-year period, primarily driven by weak sales to revenue conversion across all business areas and softer-than-expected customer demand, reflecting the continued challenging market environment. Adjusted EBITDA for the segment was -€24.4 million (-€18.4 million CER), compared with -€9.3 million in the prior year, reflecting the reduced topline performance.

(Press release, Evotec, AUG 14, 2026, View Source [SID1234670125])