Revenue: As of FY2026 Q1, the actual value is USD 215 K, missing the estimate of USD 1.413 M.EPS: As of FY2026 Q1, the actual value is USD -0.19, beating the estimate of USD -0.201.EBIT: As of FY2026 Q1, the actual value is USD -32.11 M.<h4>Segment Revenue</h4><ul><li>Partner Program Revenue: Absci Corporation reported $215 thousand for the three months ended March 31, 2026, which is a decrease of $1.0 million or 82% compared to $1,179 thousand for the same period in 2025, primarily due to the timing of project-based milestones and the mix of ongoing program activity under drug creation agreements.</li></ul><h4>Operational Metrics</h4><ul><li>Total Operating Expenses: Increased by $2,153 thousand, or 7%, to $31,061 thousand for the three months ended March 31, 2026, from $28,908 thousand in the prior year.</li><li>Research and Development (R&amp;D) Expenses: Increased by $2.9 million, or 18%, reaching $19,275 thousand for the three months ended March 31, 2026, compared to $16,364 thousand in the same period of 2025, driven by higher direct costs for ABS-201 preclinical and clinical development, other drug creation and platform costs, and other lab costs, partially offset by reduced personnel costs and stock-based compensation.</li><li>Selling, General and Administrative (SG&amp;A) Expenses: Decreased by $0.4 million, or 4%, to $9,058 thousand for the three months ended March 31, 2026, from $9,472 thousand in the prior year, mainly due to a decrease in personnel and stock-based compensation costs.</li><li>Depreciation and Amortization: Decreased by $0.3 million, or 11%, to $2,728 thousand for the three months ended March 31, 2026, from $3,072 thousand in the prior year, primarily due to disposals of lab equipment.</li><li>Operating Loss: Increased to - $30,846 thousand for the three months ended March 31, 2026, from - $27,729 thousand in the prior year.</li><li>Other Income, Net: Decreased by $0.2 million, or 12%, to $1,283 thousand for the three months ended March 31, 2026, from $1,458 thousand in the prior year, mainly due to realized and unrealized gains and losses on foreign currency transactions and a decrease in investment income.</li><li>Net Loss: Increased to - $29,599 thousand for the three months ended March 31, 2026, compared to - $26,346 thousand in the prior year.</li></ul><h4>Cash Flow</h4><ul><li>Net Cash Used in Operating Activities: Increased to - $26,307 thousand for the three months ended March 31, 2026, from - $21,839 thousand in the prior year.</li><li>Net Cash Provided by (Used in) Investing Activities: Was $7,362 thousand for the three months ended March 31, 2026, a significant change from - $15,044 thousand in the prior year, primarily due to a shift in marketable securities purchases and maturities.</li><li>Net Cash Provided by Financing Activities: Decreased to $7,556 thousand for the three months ended March 31, 2026, from $42,794 thousand in the prior year, with 2026 including $8.0 million from common stock issuance and $0.1 million from employee equity plans, compared to $41.7 million from a PIPE with AMD and prior sales agreement in 2025.</li></ul><h4>Unique Metrics</h4><ul><li>Customer Concentration: In the three months ended March 31, 2026, two partners accounted for 100% of total partner program revenue, while in the prior year period, two partners represented approximately 95%.</li><li>Accumulated Deficit: As of March 31, 2026, the accumulated deficit was - $654.4 million, up from - $535.947 million as of March 31, 2025.</li><li>Cash, Cash Equivalents, and Marketable Securities: As of March 31, 2026, Absci Corporation held $125.7 million in these liquid assets.</li></ul><h4>Future Outlook and Strategy</h4>Absci Corporation anticipates incurring significant expenses as it develops ABS-201 and other programs, scales partnerships, and enhances its Integrated Drug Creation platform. Key milestones include interim proof-of-concept data for ABS-201 in androgenetic alopecia (AGA) in the second half of 2026, with full data in early 2027. Additionally, a Phase 2 clinical trial for ABS-201 in endometriosis is expected to start in the fourth quarter of 2026, with potential proof-of-concept data in the second half of 2027.

Absci | 10-Q: FY2026 Q1 Revenue Misses Estimate at USD 215 K