Alvotech reaffirms 2026 revenue and adjusted EBITDA guidance

Alvotech (NASDAQ: ALVO ) reported second-quarter financial results on Thursday.

The transcript from the company's second-quarter earnings call has been provided below.

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For comprehensive financial data and transcripts, visit View the webcast at Summary Alvotech made significant investments in their manufacturing facility and quality systems, allowing for resubmission of BLAs in June and FDA's closure of the May inspection with a VAI classification.

Second quarter performance was affected by a production slowdown due to facility improvements, but manufacturing returned to planned levels by the end of Q2.

The company raised $165 million from equity financing in June, with strong demand and new specialist investors, enhancing financial flexibility.

Alvotech's commercial portfolio now includes five biosimilars, with notable progress in the Entyvio biosimilar program targeting a $7 billion global market.

Total revenue for H1 2026 was $212 million, down from $306 million in 2025, with adjusted EBITDA of $46 million.

The company reaffirmed 2026 guidance of $650 to $700 million in revenue and $180 to $220 million in adjusted EBITDA.

The company plans to enhance its U.S. market presence, potentially commercializing selected pipeline products directly.

Continued development of a strong biosimilar pipeline with more than 30 candidates, with several key products expected to receive approvals between 2027-2029.

Management expressed confidence in resolving ongoing litigation and regulatory hurdles, anticipating U.S. market entries for key products by the fourth quarter of 2026.

Full Transcript OPERATOR Good day, and thank you for standing by.

Welcome to the ArvaTech Q2 2026 earnings conference call.

At this time, all participants are in a listen-only mode.

After the speaker's presentation, there will be a question-and-answer session.

To ask a question during the session, you will need to press star-one-one on your telephone.

You will then hear an automated message advising your hand is raised.

To withdraw your question, please press star-one-one again.

Please be advised that today's conference is being recorded.

I would now like to hand the conference over to your speaker today, Benedikt Stephenson, VP of Investor Relations and Global Communication.

Please go ahead.

Benedikt Stephenson, VP of Investor Relations and Global Communication Thank you, and welcome to our listeners.

Yesterday evening the company issued a press release announcing our financial results for the first half of 2026.

Material accompanying today's earnings call, including a supplemental earnings report providing additional operational details and a business update, and the presentation we will be referring to on today's call were also published on our website alvotech.com under Financials in the Q2 section.

Our press release, earnings report, presentation, and statements that we make on the call today may include forward-looking statements.

These statements do not ensure future performance and are subject to risks and uncertainties that are outlined in company filings with the Securities and Exchange Commission.

Any risks and uncertainties could cause actual results to differ materially from forward-looking statements that are made.

Presenting on today's call are Robert Wessman, Founder and Executive Chairman, Lisa Graber, Chief Executive Officer, Joseph McClellan, Chief Operating Officer, and Linda Jonestotel, Chief Financial Officer.

Robert will begin today's presentation with a summary of our regulatory, funding, and commercial highlights.

Lisa will then present a commercial and operations update.

Joseph will provide a pipeline and regulatory update, and Linda will conclude with a discussion of the financial results.

Following the presentation, our team will be happy to take your questions, and with that I would like to turn the call over to Robert Wessman.

Robert Wessman, Founder and Executive Chairman Hello everyone, and thank you for joining us here today.

The first half has been an important period for Alvotech as we made significant investments in our manufacturing facility and quality systems.

These investments allowed us to resubmit our BLAs in June, and in July the FDA formally closed the May surveillance inspection of our manufacturing facility with a VAI classification.