1Q26 EPS: AUTL ALL Strong Launch & Margin Inflection; Ph1 PMS Initial Data YE26

研报英文原文证据摘录

1Q26 EPS: AUTL ALL Strong Launch & Margin Inflection; Ph1 PMS Initial Data YE26

USA | Biotechnology

Autolus Therapeutics EquityMayResearch14, 2026

ESTIMATE CHANGE1Q26 EPS: AUTL ALL Strong Launch & Margin

RATING BUYInflection; Ph1 PMS Initial Data YE26

PRICE $1.71^

We caught up with mgmt. AUTL delivered a strong Q, showcasing sustained

AUCATZYL launch momentum and a crucial inflection to positive gross margin. PRICE TARGET | % TO PT $8.00 | +368%

Net product rev rose to $26.2M driven by US uptake w/ early U.K. contributions. 52W HIGH-LOW $2.70 - $1.18

Co reiterated FY26 guidance of $120–135M with continued cost discipline. FLOAT (%) | ADV MM (USD) 90.3% | 2.34

Pipeline expansion in pediatric ALL/ autoimmune continues, with key catalysts MARKET CAP $455.0M

from YE26 onward begin with initial data from Ph1 PMS and long term SLE data TICKER AUTL ^Prior trading day's closing price unless otherwise

in YE. noted.

Bottom line. Autolus’ 1Q26 results underscore solid commercial execution and improving financial FY (Sep) CHANGE TO JEFe JEF vs CONS

fundamentals. The AUCATZYL adult r/r ALL launch is tracking well, translating into growing 2026 2027 2026 2027

market share and early profitability signs. Operational discipline (cost cuts, manufacturing gains) REV +2% NA NA NA

is extending cash runway and inching the ALL franchise toward self-sustainability. While Autolus

EPS +18% +35% NA NA

remains in investment mode and heavily reliant on AUCATZYL near-term sales, the combination of a

rapidly expanding addressable market (UK/EU launches pending) and promising pipeline expansion

2026 ($) Q1A Q2 Q3 Q4 FY

into autoimmune diseases positions the company for substantial long-term value creation.

EPS (0.24) (0.20) (0.19) (0.18) (0.80)

Commercial performance & outlook.