Evotec stock weighs quarterly recovery against weak nine-month base

Published on 11/10/2026 at 18:12 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

Evotec stock reflects a sharper quarterly recovery as the company keeps its 2026 outlook unchanged. Nine-month figures remain weaker.

Profitability Improves, Revenue Still Lags

Evotec's third-quarter adjusted EBITDA loss narrowed sharply while quarterly revenue remained broadly stable.
Nine-month revenue and adjusted EBITDA remained below the prior-year period.
Management kept its 2026 outlook and expects results toward the upper ends of its ranges.
The Horizon program is progressing, but execution remains central to the recovery case.

Evotec SE, DE0005664809, Illustration mit AI erstellt.

Evotec's third-quarter update showed a sharper profitability recovery, but the nine-month picture remained weaker. The results were published on November 5, 2026, and were covered by AD HOC NEWS.

Evotec reported third-quarter revenue of EUR 164.9 million, compared with EUR 163.9 million a year earlier. Adjusted Group EBITDA improved to a loss of EUR 1.6 million from a loss of EUR 15.0 million, an 89.1% year-over-year improvement.

Quarterly Gains Meet Nine-Month Pressure

The first nine months remained more difficult. Revenue fell 13.1% year over year to EUR 465.0 million, while adjusted Group EBITDA declined to a loss of EUR 44.3 million from a loss of EUR 16.9 million. The contrast leaves investors focused on whether cost savings can translate into a broader revenue recovery.

The business lines developed unevenly. Discovery and Preclinical Development revenue declined 2.3% to EUR 120.1 million in the quarter, while its adjusted EBITDA loss narrowed to EUR 1.0 million. Just - Evotec Biologics increased quarterly revenue 9.4% to EUR 44.8 million and reduced its adjusted EBITDA loss to EUR 0.6 million.

Outlook Remains Unchanged

Management reaffirmed its 2026 revenue outlook of EUR 570 million to EUR 610 million and its adjusted EBITDA outlook of a loss between EUR 105 million and EUR 70 million. At constant exchange rates, the ranges are EUR 595 million to EUR 635 million for revenue and a loss of EUR 90 million to EUR 60 million for adjusted EBITDA. Management expects both measures toward the upper ends of the ranges, while warning that quarterly performance can vary.

The Horizon transformation remains a key execution factor. Evotec said more than 20% of its EUR 75 million annual run-rate savings target had been delivered by the end of September. Three of four planned site closures are expected to be completed by year-end, with the final closure targeted for the first quarter of 2027.

Evotec stock traded at EUR 3.13 on Lang & Schwarz at 18:04 CET on Tuesday, November 10, 2026. The quote compares with EUR 3.17 at 12:02 CET in the latest relevant report, an absolute change of 1.26%.