Evotec stock narrows Q3 loss as Horizon savings advance

Evotec reported a marked improvement in third-quarter profitability on November 5, while weaker nine-month revenue kept pressure on the broader recovery. In its results release carried by PR Newswire, the company said adjusted Group EBITDA improved to a loss of EUR 1.6 million from EUR 15.0 million in the prior-year quarter.

Quarterly margin recovery meets weaker sales

Third-quarter revenue reached EUR 164.9 million, broadly unchanged from the prior-year period. The improvement in adjusted EBITDA was primarily linked to lower cost of revenue and also appeared in both operating segments.

For the first nine months, revenue fell 13.1 percent to EUR 465.0 million. Adjusted Group EBITDA declined to a loss of EUR 44.3 million from a loss of EUR 16.9 million in the comparable period, highlighting the gap between the quarterly recovery and the year-to-date performance.

Horizon program adds operating focus

Evotec said more than 20 percent of its EUR 75 million annual run-rate savings target had been delivered by the end of September. The company also reported progress on workforce and site measures under the Horizon transformation program.

The release highlighted new or advancing platform partnerships, including commercial manufacturing of povetacicept for Vertex Pharmaceuticals and research collaborations involving Plectonic and Odyssey Therapeutics. Dr. Joanna Holbrook became Chief Scientific Officer and joined the Management Board effective November 1.

Outlook remains unchanged

Evotec 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. The company also presented a 2030 framework targeting around EUR 1 billion in Group revenue, an adjusted EBITDA margin of 20 percent by the end of 2028 and more than 20 percent by the end of 2030.

Evotec stock traded at 3.16 euros on Lang & Schwarz at 17:08 CET on Monday, November 9, 2026.

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