Autolus Q1 Net Product Revenue $26.2M; Achieves Positive Gross Margin
Autolus Therapeutics reported Q1 2026 net product revenue of $26.2 million, a significant increase from $9.0 million in the prior year, driven by strong launches of AUCATZYL in the US and UK. The company achieved a positive gross margin for its ALL business for the first time, reporting a gross profit of $1.6 million. Autolus also announced a strategic initiative to reduce operating expenses by approximately $15 million annually from 2027, including a 13% workforce reduction, while progressing its obe-cel clinical development programs in lupus nephritis, pediatric ALL, and progressive MS. Despite increased revenue and positive gross margin, the net loss widened to $71.6 million, and cash reserves decreased to $229.4 million, providing a cash runway into Q4 2027.
Key Highlights
- Q1 2026 net product revenue was $26.2 million, up from $9.0 million in Q1 2025.
- Achieved positive gross profit of $1.6 million in Q1 2026 for the first time.
- Cost reduction initiative includes a 13% workforce reduction, saving $15 million annually from 2027.
- Incurred approximately $8 million in restructuring charges, mostly in H1 2026.
- Research and development expenses decreased to $21.2 million in Q1 2026.
- Selling, general and administrative expenses increased to $39.9 million in Q1 2026.
- Net loss was $71.6 million in Q1 2026, compared to $70.2 million in Q1 2025.
- Cash, cash equivalents, and marketable securities totaled $229.4 million at March 31, 2026.
- Reiterated full year 2026 AUCATZYL net product revenue outlook of $120 million to $135 million.
- Current cash is sufficient to fund operations into Q4 2027.