Segment information (Tables)

3 Months Ended

Mar. 31, 2026

Schedule of Reconciliation of Operating Profit (Loss) from Segments to Consolidated

The following table presents segment information provided to the CODM, along with a reconciliation of segment adjusted gross margin to income before income taxes as reported in the Condensed Consolidated Statement of Operations for the three months ended March 31, 2026 and 2025:


	Three Months Ended March 31,
	2026		2025
Revenues reportable segments:
Commercial Products	$	42.9	$	45.3
MCM Products	101.8		156.6
Reconciliation of revenue:	144.7		201.9
All other revenues (1)	11.4		20.3
Total revenues	$	156.1	$	222.2

Cost of sales reportable segments:
Commercial Products	$	26.8	$	24.5
MCM Products (2)	36.2		48.9
Total of reportable segments	$	63.0	$	73.4













Segment adjusted gross margin reportable segments:
Commercial Products	$	16.1	$	20.8
MCM Products (2)	65.6		107.7
Total of reportable segments	$	81.7	$	128.5

Reconciliation to income before income taxes:
All other revenues less other costs of revenue (1)	$	3.0	$	6.5
Amortization of intangible assets	(16.5)		(16.3)
Severance and restructuring benefits (costs)	—		0.8
Inventory step-up provision	(0.1)		(1.8)



Stock-based compensation expense	(0.5)		(0.3)
Research and development	(10.5)		(15.1)
Selling, general and administrative	(46.6)		(52.4)
Interest expense	(11.0)		(14.7)
Loss on assets held for sale	—		(12.2)
Other, net	13.9		69.7
Income before income taxes	$	13.4	$	92.7


(1) “All other revenues” and “All other revenues less other costs of revenue” include Services and Contracts and grants revenue, and Services and Contracts and grants revenue less Cost of services, respectively.


(2) For the three months ended March 31, 2026, excludes $0.5 million of the portion of stock-based compensation expense recorded as cost of sales and $0.1 million of inventory step-up provision. For the three months ended March 31, 2025 excludes $1.8 million of inventory step-up provision, $0.8 million of severance and restructuring benefits and $0.3 million of the portion of stock-based compensation expense recorded as cost of sales.

Schedule of Segment Reporting Information, by Segment

The following table includes depreciation expense for each reportable segment:


	Three Months Ended March 31,
	2026		2025
Depreciation from reportable segments:

MCM Products	$	4.6	$	4.2

Items not included in depreciation from reportable segments:
All other segment	0.5		2.2
Other	1.9		2.7
Total depreciation	$	7.0	$	9.1

Emergent BioSolutions Inc. 10-Q