Revenue volatility remains a critical concern, evidenced by the sharp 81.8% year-over-year contraction to $215,000 in 2026Q1 alongside deeply negative gross margins of -11.7%.
| Sales/Revenue | 1.84M | 2.8M | 4.53M | 5.72M | 5.75M | 4.78M | 4.78M | 2.06M |
| Revenue Growth % | -61.87% | -38.24% | -20.71% | -0.5% | 20.18% | 0.04% | 132.04% | - |
| Cost of Goods Sold | 26.01M | 11.74M | 62.46M | 47.57M | 58.91M | 44.59M | 11.45M | 0 |
| COGS % of Revenue | - | 419.36% | 1377.57% | 831.88% | 1025.02% | 932.37% | 239.5% | - |
| Gross Profit | -24.18M | -8.94M | -57.92M | -41.85M | -53.16M | -39.8M | -6.67M | 2.06M |
| Gross Margin % | -1316.88% | -319.36% | -1277.57% | -731.88% | -925.02% | -832.37% | -139.5% | 100% |
| Gross Profit Growth % | - | 84.56% | -38.41% | 21.28% | -33.56% | -496.94% | -423.69% | - |
| Operating Expenses | 104.36M | 115.78M | 50.96M | 73.67M | 53.59M | 35.43M | 6.63M | 8.32M |
| OpEx % of Revenue | - | 4134.86% | 1124.02% | 1288.32% | 932.47% | 740.99% | 138.77% | 404.13% |
| Selling, General & Admin | 17.68M | 35.06M | 0 | 0 | 0 | 0 | 5.5M | 3.52M |
| SG&A % of Revenue | - | 1252.07% | - | - | - | - | 115.1% | 171.02% |
| Research & Development | 84.33M | 81.42M | 63.86M | 48.07M | 58.91M | 44.59M | 11.45M | 4.31M |
| R&D % of Revenue | - | 2907.79% | 1408.45% | 840.63% | 1025.02% | 932.37% | 239.5% | 209.27% |
| Other Operating Expenses | 0 | -700K | -12.9M | 25.6M | -5.32M | -9.15M | -10.32M | 491K |
| Operating Income | -128.53M | -124.72M | -108.89M | -115.52M | -106.75M | -75.24M | -13.3M | -6.26M |
| Operating Margin % | -7000.82% | -4454.21% | -2401.59% | -2020.2% | -1857.49% | -1573.36% | -278.26% | -304.13% |
| Operating Income Growth % | - | -14.54% | 5.74% | -8.21% | -41.88% | -465.66% | -112.31% | - |
| EBITDA | -117.14M | -112.98M | -95.5M | -101.52M | -93.71M | -68.58M | -12.17M | -5.77M |
| EBITDA Margin % | -6380.01% | -4034.86% | -2106.29% | -1775.38% | -1630.64% | -1434.21% | -254.6% | -280.29% |
| EBITDA Growth % | -17.05% | -18.3% | 5.93% | -8.33% | -36.64% | -463.55% | -110.77% | - |
| D&A (Non-Cash Add-back) | 11.4M | 11.74M | 13.39M | 14M | 13.04M | 6.65M | 1.13M | 491K |
| EBIT | -126.94M | -124.72M | -107.49M | -93.68M | -106.75M | -74.34M | -13.72M | -6.32M |
| Net Interest Income | -112K | -209K | -565K | -1.01M | -972K | -3.43M | -634K | -268K |
| Interest Income | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Interest Expense | 112K | 209K | 565K | 1.01M | 972K | 3.43M | 634K | 268K |
| Other Income/Expense | 10.19M | 9.6M | 5.85M | 5.05M | 1.39M | -34.62M | -1.05M | -319K |
| Pretax Income | -118.34M | -115.11M | -103.04M | -110.47M | -105.36M | -109.86M | -14.35M | -6.58M |
| Pretax Margin % | -6445.81% | -4111.21% | -2272.52% | -1931.9% | -1833.39% | -2297.34% | -300.27% | -319.61% |
| Income Tax | 91K | 69K | 70K | 100K | -461K | -8.9M | 0 | 0 |
| Effective Tax Rate % | -0.08% | -0.06% | -0.07% | -0.09% | 0.44% | 8.1% | 0% | 0% |
| Net Income | -118.44M | -115.18M | -103.11M | -110.57M | -104.9M | -100.96M | -14.35M | -6.58M |
| Net Margin % | -6450.76% | -4113.68% | -2274.06% | -1933.65% | -1825.37% | -2111.25% | -300.27% | -319.61% |
| Net Income Growth % | -10.2% | -11.71% | 6.75% | -5.4% | -3.91% | -603.41% | -118% | - |
| Net Income (Continuing) | -118.44M | -115.18M | -103.11M | -110.57M | -104.9M | -100.96M | -14.35M | -6.58M |
| Discontinued Operations | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Minority Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| EPS (Diluted) | -0.77 | -0.84 | -0.94 | -1.20 | -1.15 | -1.11 | -0.54 | -0.07 |
| EPS Growth % | 9.78% | 10.64% | 21.67% | -4.35% | -3.6% | -105.56% | -632.7% | - |
| EPS (Basic) | - | -0.84 | -0.94 | -1.20 | -1.15 | -1.11 | -0.54 | -0.07 |
| Diluted Shares Outstanding | 152.96M | 136.78M | 110.24M | 92.03M | 90.85M | 92.65M | 92.25M | 92.25M |
| Basic Shares Outstanding | 152.96M | 136.78M | 110.24M | 92.03M | 90.85M | 92.65M | 92.25M | 92.25M |
| Dividend Payout Ratio | - | - | - | - | - | - | - | - |
Insufficient Capital Runway
As indicated by the most recent quarterly filings, Absci's revenue has experienced significant contraction, with the 2026Q1 figure of $215,000 representing a sharp 81.8% year-over-year decline, highlighting the inherent instability of a business model reliant on non-recurring, milestone-driven research collaborations rather than predictable, scalable product sales.
The erratic top-line performance suggests that the company's current partnership model lacks the necessary depth to provide consistent revenue streams. Investors should monitor whether this downward trend reflects a fundamental lack of market demand or merely the lumpy, unpredictable nature of early-stage biotechnology contract recognition.
Based on the reported financial data, Absci's gross margins remain deeply negative, reaching -11.7% in 2026Q1, which suggests that the direct costs associated with laboratory operations and specialized personnel currently exceed the revenue generated from these high-intensity research and development service contracts.
This persistent margin compression implies that the company is effectively subsidizing its partners' research efforts to maintain platform visibility. Without a transition toward higher-margin royalty structures or significant automation-driven cost reductions, the current service-heavy model appears fundamentally incapable of achieving sustainable profitability at its current scale.
According to the income statement, Absci maintains a heavy fixed-cost structure, with R&D expenses consistently dwarfing revenue, as evidenced by the $19.3 million R&D spend in 2026Q1 compared to just $215,000 in revenue, indicating a massive disconnect between operational investment and commercial output.
The company's expense discipline appears secondary to the aggressive pursuit of technical platform validation, resulting in an operating loss that remains largely decoupled from top-line performance. This cost structure warrants further investigation into whether the current R&D intensity is yielding proprietary data assets that will eventually provide a competitive advantage.
As reported in recent financial statements, the company's operating losses, which totaled $30.8 million in 2026Q1, significantly outpace its cash reserves, suggesting that the current burn rate may necessitate dilutive financing or a major strategic pivot to ensure the firm's long-term operational viability.
Short-sellers would likely focus on the widening gap between the company's high-tech narrative and its deteriorating financial position. The lack of a clear path to positive cash flow, combined with the reliance on external capital, presents a significant risk that the platform's scientific potential may remain unrealized due to liquidity constraints.
Quick answers to the most common questions about buying ABSI stock.
For fiscal year 2025, Absci Corporation (ABSI) reported total revenue of $2.8M. This represents a 35.9% increase compared to $2.1M in 2019.
Absci Corporation (ABSI) reported a net loss of $115.2M for the fiscal year ending 2025.
Absci Corporation (ABSI) reported an operating income of $-124.7M, resulting in an operating profit margin of -4454.2%. This margin reflects the operational efficiency of the business before interest and taxes.
Absci Corporation (ABSI) generated $-8.9M in gross profit for the year, representing a gross profit margin of -319.4%. This demonstrates the company's core pricing power and production efficiency.