--- title: "Absci | 10-Q: FY2026 Q1 Revenue Misses Estimate at USD 215 K" type: "News" locale: "en" url: "https://longbridge.com/en/news/285617682.md" datetime: "2026-05-07T20:53:39.000Z" locales: - [zh-CN](https://longbridge.com/zh-CN/news/285617682.md) - [en](https://longbridge.com/en/news/285617682.md) - [zh-HK](https://longbridge.com/zh-HK/news/285617682.md) --- # Absci | 10-Q: FY2026 Q1 Revenue Misses Estimate at USD 215 K Revenue: As of FY2026 Q1, the actual value is USD 215 K, missing the estimate of USD 1.413 M. EPS: As of FY2026 Q1, the actual value is USD -0.19, beating the estimate of USD -0.201. EBIT: As of FY2026 Q1, the actual value is USD -32.11 M. #### Segment Revenue - **Partner Program Revenue**: Absci Corporation reported $215 thousand for the three months ended March 31, 2026, which is a decrease of $1.0 million or 82% compared to $1,179 thousand for the same period in 2025, primarily due to the timing of project-based milestones and the mix of ongoing program activity under drug creation agreements. #### Operational Metrics - **Total Operating Expenses**: Increased by $2,153 thousand, or 7%, to $31,061 thousand for the three months ended March 31, 2026, from $28,908 thousand in the prior year. - **Research and Development (R&D) Expenses**: Increased by $2.9 million, or 18%, reaching $19,275 thousand for the three months ended March 31, 2026, compared to $16,364 thousand in the same period of 2025, driven by higher direct costs for ABS-201 preclinical and clinical development, other drug creation and platform costs, and other lab costs, partially offset by reduced personnel costs and stock-based compensation. - **Selling, General and Administrative (SG&A) Expenses**: Decreased by $0.4 million, or 4%, to $9,058 thousand for the three months ended March 31, 2026, from $9,472 thousand in the prior year, mainly due to a decrease in personnel and stock-based compensation costs. - **Depreciation and Amortization**: Decreased by $0.3 million, or 11%, to $2,728 thousand for the three months ended March 31, 2026, from $3,072 thousand in the prior year, primarily due to disposals of lab equipment. - **Operating Loss**: Increased to - $30,846 thousand for the three months ended March 31, 2026, from - $27,729 thousand in the prior year. - **Other Income, Net**: Decreased by $0.2 million, or 12%, to $1,283 thousand for the three months ended March 31, 2026, from $1,458 thousand in the prior year, mainly due to realized and unrealized gains and losses on foreign currency transactions and a decrease in investment income. - **Net Loss**: Increased to - $29,599 thousand for the three months ended March 31, 2026, compared to - $26,346 thousand in the prior year. #### Cash Flow - **Net Cash Used in Operating Activities**: Increased to - $26,307 thousand for the three months ended March 31, 2026, from - $21,839 thousand in the prior year. - **Net Cash Provided by (Used in) Investing Activities**: Was $7,362 thousand for the three months ended March 31, 2026, a significant change from - $15,044 thousand in the prior year, primarily due to a shift in marketable securities purchases and maturities. - **Net Cash Provided by Financing Activities**: Decreased to $7,556 thousand for the three months ended March 31, 2026, from $42,794 thousand in the prior year, with 2026 including $8.0 million from common stock issuance and $0.1 million from employee equity plans, compared to $41.7 million from a PIPE with AMD and prior sales agreement in 2025. #### Unique Metrics - **Customer Concentration**: In the three months ended March 31, 2026, two partners accounted for 100% of total partner program revenue, while in the prior year period, two partners represented approximately 95%. - **Accumulated Deficit**: As of March 31, 2026, the accumulated deficit was - $654.4 million, up from - $535.947 million as of March 31, 2025. - **Cash, Cash Equivalents, and Marketable Securities**: As of March 31, 2026, Absci Corporation held $125.7 million in these liquid assets. #### Future Outlook and Strategy Absci Corporation anticipates incurring significant expenses as it develops ABS-201 and other programs, scales partnerships, and enhances its Integrated Drug Creation platform. Key milestones include interim proof-of-concept data for ABS-201 in androgenetic alopecia (AGA) in the second half of 2026, with full data in early 2027. Additionally, a Phase 2 clinical trial for ABS-201 in endometriosis is expected to start in the fourth quarter of 2026, with potential proof-of-concept data in the second half of 2027. ### Related Stocks - [ABSI.US](https://longbridge.com/en/quote/ABSI.US.md) ## Related News & Research - [HC Wainwright Has Optimistic Outlook of Absci Q3 Earnings](https://longbridge.com/en/news/286260136.md) - [ONWARD Medical to Announce First Quarter 2026 Results on May 26, 2026 | ONWRY Stock News](https://longbridge.com/en/news/286858298.md) - [The Home Depot Announces First Quarter Fiscal 2026 Results; Reaffirms Fiscal 2026 Guidance | HD Stock News](https://longbridge.com/en/news/286890512.md) - [TDK publishes 2026 annual report for fiscal year ended March 31, 2026](https://longbridge.com/en/news/287131408.md) - [Royce Small-Cap Trust (NYSE: RVT) as of Apr 30, 2026 | RVT Stock News](https://longbridge.com/en/news/287103750.md)