Revenue is accelerating rapidly from a negligible base, reaching $45.7M in Q2 2026, but operating losses have widened to -$43.8M as SG&A and R&D expenses scale ahead of gross profit, which only recently turned positive at 55.2%.
Autolus Therapeutics plc (AUTL) annual income statement — 11-year revenue, gross profit & net income history
| Metric | TTM | Dec'25 | Dec'24 | Dec'23 | Dec'22 | Dec'21 | Dec'20 | Dec'19 | Sep'18 | Sep'18 | Sep'17 | Sep'16 |
|---|
| Sales/Revenue | 117.35M | 75.56M | 10.12M | 1.7M | 6.19M | 1.51M | 1.72M | 2.91M | 1.05M | 1.05M | 1.69M | 1.21M |
| Revenue Growth % | 292.05% | 646.68% | 496% | -72.59% | 311.02% | -12.13% | -41.02% | 178.19% | -38.26% | -38.26% | 39.69% | - |
| Cost of Goods Sold | 98.97M | 96.59M | 141.02M | 0 | 0 | 0 | 134.89M | 105.42M | 48.3M | 48.3M | 1.01M | 478K |
| COGS % of Revenue | - | 127.83% | 1393.48% | - | - | - | 7865.19% | 3625.1% | 4620.4% | 4620.4% | 59.6% | 39.44% |
| Gross Profit | 18.38M | -21.03M | -130.9M | 1.7M | 6.19M | 1.51M | -133.17M | -102.51M | -47.25M | -47.25M | 684K | 734K |
| Gross Margin % | 15.66% | -27.83% | -1293.48% | 100% | 100% | 100% | -7765.19% | -3525.1% | -4520.4% | -4520.4% | 40.4% | 60.56% |
| Gross Profit Growth % | - | 83.93% | -7809.07% | -72.59% | 311.02% | 101.13% | -29.91% | -116.94% | -7008.43% | -7008.43% | -6.81% | - |
| Operating Expenses | 265.72M | 260.41M | 110.53M | 181.4M | 149.09M | 141.88M | 169.96M | 145.07M | 41.48M | 41.48M | 25.11M | 15.59M |
| OpEx % of Revenue | - | 344.62% | 1092.15% | 10683.1% | 2406.96% | 9414.8% | 9910.2% | 4988.65% | 3968.39% | 3968.39% | 1483.22% | 1286.14% |
| Selling, General & Admin | 153.13M | 131.82M | 0 | 46.74M | 31.9M | 31.86M | 34.97M | 39.45M | 16.85M | 16.85M | 9.1M | 5.15M |
| SG&A % of Revenue | - | 174.45% | - | 2752.94% | 515% | 2114.47% | 2039.18% | 1356.67% | 1611.51% | 1611.51% | 537.45% | 425.08% |
| Research & Development | 112.58M | 128.59M | 158.14M | 130.48M | 117.35M | 110.84M | 134.99M | 105.62M | 24.64M | 24.64M | 16.01M | 10.44M |
| R&D % of Revenue | - | 170.17% | 1562.61% | 7684.39% | 1894.64% | 7354.94% | 7871.02% | 3631.98% | 2356.89% | 2356.89% | 945.78% | 861.06% |
| Other Operating Expenses | 1 | 0 | -47.61M | 4.17M | -166K | -823K | 0 | 0 | 3.97M | 3.97M | -46K | -26K |
| Operating Income | -247.33M | -281.44M | -241.43M | -179.7M | -142.89M | -140.37M | -303.13M | -247.58M | -57.53M | -57.53M | -23.42M | -14.38M |
| Operating Margin % | -210.76% | -372.45% | -2385.63% | -10583.1% | -2306.96% | -9314.8% | -17675.39% | -8513.76% | -5503.74% | -5503.74% | -1383.22% | -1186.14% |
| Operating Income Growth % | - | -16.57% | -34.35% | -25.76% | -1.79% | 53.69% | -22.44% | -330.33% | -145.68% | -145.68% | -62.9% | - |
| EBITDA | -235.97M | -271.62M | -233.71M | -173.14M | -135.47M | -131.92M | -297.48M | -242.97M | -55.82M | -55.82M | -22.41M | -13.9M |
| EBITDA Margin % | -201.08% | -359.46% | -2309.39% | -10196.47% | -2187.13% | -8753.55% | -17345.48% | -8355.19% | -5340.26% | -5340.26% | -1323.63% | -1146.7% |
| EBITDA Growth % | 44.63% | -16.22% | -34.99% | -27.8% | -2.69% | 55.65% | -22.43% | -335.24% | -149.11% | -149.11% | -61.24% | - |
| D&A (Non-Cash Add-back) | 11.36M | 9.81M | 7.72M | 6.57M | 7.42M | 8.46M | 5.66M | 4.61M | 1.71M | 1.71M | 1.01M | 478K |
| EBIT | -232.25M | -260.09M | -240.79M | -163.34M | -139.66M | -140.93M | -168.15M | -141.96M | -52.03M | -52.03M | -23.42M | -14.38M |
| Net Interest Income | -35.16M | -17.73M | 23.06M | -31.56M | -7.2M | -843K | 536K | 2.54M | 4.11M | 4.11M | 84K | 75K |
| Interest Income | 11.95M | 19.02M | 32.35M | 13.51M | 1.71M | 262K | 536K | 2.54M | 4.12M | 4.12M | 84K | 75K |
| Interest Expense | 47.1M | 36.76M | 9.29M | 45.07M | 8.9M | 1.1M | 0 | 0 | 12.67K | 12.67K | 0 | 0 |
| Other Income/Expense | -32.02M | -15.41M | 22.29M | -28.7M | -5.67M | -1.66M | 136.88M | 138.89M | 6.91M | 6.91M | 38K | 49K |
| Pretax Income | -279.35M | -296.85M | -219.13M | -208.4M | -148.57M | -142.04M | -166.26M | -108.69M | -36.33M | -36.33M | -23.38M | -14.33M |
| Pretax Margin % | -238.04% | -392.84% | -2165.36% | -12273.38% | -2398.56% | -9425.22% | -9694.29% | -3737.62% | -3475.09% | -3475.09% | -1380.98% | -1182.1% |
| Income Tax | 677.26K | -8.65M | 1.53M | -19K | 272K | 58K | -24.16M | 15.16M | -5.21M | -5.21M | -3.65M | -1.78M |
| Effective Tax Rate % | -0.24% | 2.91% | -0.7% | 0.01% | -0.18% | -0.04% | 14.53% | -13.95% | 14.35% | 14.35% | 15.62% | 12.4% |
| Net Income | -280.03M | -288.2M | -220.66M | -208.38M | -148.84M | -142.1M | -142.09M | -123.85M | -31.11M | -31.11M | -19.73M | -12.55M |
| Net Margin % | -238.62% | -381.4% | -2180.45% | -12272.26% | -2402.95% | -9429.06% | -8285.36% | -4258.91% | -2976.49% | -2976.49% | -1165.21% | -1035.48% |
| Net Income Growth % | -22.94% | -30.61% | -5.89% | -40.01% | -4.75% | -0% | -14.73% | -298.04% | -57.73% | -57.73% | -57.19% | - |
| Net Income (Continuing) | -280.03M | -288.2M | -220.66M | -208.38M | -148.84M | -142.1M | -142.09M | -123.85M | -44.75M | -44.75M | -19.73M | -12.55M |
| Discontinued Operations | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Minority Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| EPS (Diluted) | -1.05 | -1.08 | -0.87 | -1.20 | -1.57 | -1.97 | -2.76 | -2.88 | -0.99 | -0.99 | -1.43 | -0.91 |
| EPS Growth % | -24.71% | -24.14% | 27.5% | 23.57% | 20.3% | 28.62% | 4.17% | -190.91% | 30.77% | 30.77% | -57.14% | - |
| EPS (Basic) | - | -1.08 | -0.87 | -1.20 | -1.57 | -1.97 | -2.76 | -2.88 | -0.99 | -0.99 | -1.43 | -0.91 |
| Diluted Shares Outstanding | 266.16M | 266.14M | 255.16M | 173.94M | 94.99M | 72.08M | 51.56M | 43.07M | 31.56M | 31.56M | 13.78M | 13.78M |
| Basic Shares Outstanding | 266.16M | 266.14M | 255.16M | 173.94M | 94.99M | 72.08M | 51.56M | 43.07M | 31.56M | 31.56M | 13.78M | 13.78M |
| Dividend Payout Ratio | - | - | - | - | - | - | - | - | - | - | - | - |
Quick answers to the most common questions about buying AUTL stock.
For fiscal year 2025, Autolus Therapeutics plc (AUTL) reported total revenue of $75.6M. This represents a 6134.7% increase compared to $1.2M in 2015.
Autolus Therapeutics plc (AUTL) reported a net loss of $288.2M for the fiscal year ending 2025.
Autolus Therapeutics plc (AUTL) reported an operating income of $-281.4M, resulting in an operating profit margin of -372.4%. This margin reflects the operational efficiency of the business before interest and taxes.
Autolus Therapeutics plc (AUTL) generated $-21.0M in gross profit for the year, representing a gross profit margin of -27.8%. This demonstrates the company's core pricing power and production efficiency.
Key Metrics
Top Statement Risk
Sustained cash burn amid scaling
Metrics are mathematically derived from official filings.
Revenue Emergence from Near-Zero Base
Autolus's revenue trajectory shows explosive growth from a negligible base, with Q2 2026 revenue of $45.7M representing a 118.4% year-over-year increase, according to the company's reported financials.
The growth is driven by the commercial launch of a product, as evidenced by the shift from near-zero revenue in 2024 to a meaningful run-rate in 2025 and 2026. This pattern is typical for a biotech transitioning from development to commercialization, but the durability of this growth depends entirely on market adoption and reimbursement dynamics for its therapy.
Volatile Gross Margin Reflects Launch Phase
Gross margin has swung dramatically from negative to 55.2% in Q2 2026, a figure that appears highly sensitive to initial production scale and inventory dynamics, as reported in the quarterly statements.
The extreme volatility, including periods of negative gross margin, suggests significant upfront costs and inefficiencies associated with manufacturing scale-up for a complex cell therapy. The recent positive margin is a critical milestone, but its sustainability is uncertain and will depend on achieving consistent production yields and managing the cost of goods sold as volumes increase.
Operating Leverage Not Yet Evident
Despite a 118.4% revenue increase in Q2 2026, operating losses widened to -$43.8M, indicating that SG&A and R&D expenses are scaling ahead of revenue, based on the company's income statement data.
The company is in a heavy investment phase, with SG&A of $41.2M nearly matching revenue, which is typical for building a commercial infrastructure. However, this means operating leverage is currently negative; profitability will require revenue to grow significantly faster than these fixed and semi-fixed cost bases.
SG&A Dominates the Cost Structure
SG&A expenses of $41.2M in Q2 2026 represent the largest cost line item, exceeding both COGS and R&D, which suggests a primary focus on commercial launch activities, per the reported figures.
The magnitude of SG&A relative to revenue indicates a substantial investment in sales, marketing, and administrative support to launch the product. Investors should monitor whether this expense base can be rationalized as the product matures, or if it will remain a persistent drag on the path to profitability.
Path to Profitability Remains Distant
The strongest challenge to the income statement narrative is that even with rapid revenue growth, the company's net loss of -$39.1M in Q2 2026 suggests the current cost structure is unsustainable without significant further capital raises.
While revenue growth is impressive, the operating margin of -95.9% and net margin of -85.6% highlight a profound disconnect between top-line expansion and bottom-line results. The company is burning cash at a high rate, and the analysis suggests that without a dramatic improvement in operating leverage or a reduction in the cost base, the current trajectory may necessitate additional dilutive financing.