Flagship explainer

How EMERGENT BIOSOLUTIONS INC. makes its money

Start with a dollar of revenue and follow what the filing says remains.

revenueBranching filed flows with values and percentages directly labeled. Missing filing concepts are omitted rather than estimated.Revenue$743M · 100%Cost of revenue$326M · 44%Gross profit$417M · 56%Operating income$100M · 13%Income before tax$82.8M · 11%Income tax$30.2M · 4%Net income$52.6M · 7%As of 2025-12-31 · 1 SEC filing sourceBuy Like Buffett · buylikebuffett.com

Honest partial: the filing did not provide a normalized tag for Research and development, Selling, general and administrative; those components are omitted, not plugged.

Table alternative
Filed lineValue% of revenueSource
$743M100%
Cost of revenue$326M44%
$417M56%
$100M13%
Income before tax$82.8M11%
Income tax$30.2M4%
$52.6M7%
Source: · event Dec 31, 2025 · retrieved Jul 26, 2026 · annual-row source set
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EBS income explainer — Buy Like Buffett · Buy Like Buffett