Autolus Therapeutics plc AUTL
We are an early commercial-stage biopharmaceutical company developing, manufacturing and delivering next-generation T cell therapies and candidates for the treatment of cancer and autoimmune diseases. Using our broad suite of proprietary and modular T cell programming technologies, we are engineering precisely targeted and controlled T cell therapies that are designed to better recognize target cells, break down their defense mechanisms and eliminate target cells. We believe our programmed T cell therapies have the potential to be best-in-class and offer patients substantial benefits over the existing standard of care, including the potential for cure in some patients. In November 2024, the United States Food and Drug Administration (the "FDA") approved our biologics license application ("BLA") for the marketing of AUCATZYL (obecabtagene autoleucel, also known as obe-cel) in the United States for the treatment of adult patients (18 years and older) with relapsed or refractory B-cell precursor acute lymphoblastic leukemia ("r/r B-ALL"). The commercial launch and first sale of AUCATZYL in the United States occurred in January 2025. The United Kingdom Medicines and Healthcare products Regulatory Agency ("MHRA") granted AUCATZYL conditional marketing authorization in April 2025. In November 2025, the National Institute for Health and Care Excellence ("NICE") recommended AUCATZYL for use in the National Health Service ("NHS") in England and Wales as a treatment option for adult patients (age 26 and older) with r/r B-ALL. We launched AUCATZYL in the United Kingdom in January 2026, and it is available through routine commissioning by the NHS. In July 2025, the European Commission ("EC") granted marketing authorization for AUCATZYL in adult patients (age 26 and older) with r/r B-ALL. Evaluation of potential pricing and feasibility of market entry opportunities in certain European Union ("EU") countries is ongoing; however, at this time, launch in the EU is on hold and we do not anticipate any EU sales of AUCATZYL in 2026.
AUTL is a depositary receipt: one AUTL stands for 1 share of this company, per the cover page of its latest 10-K. The market cap and the multiples above are stated per receipt; the statements below, including EPS, are as filed and are per underlying share.
Valuation FY2025 figures against the last close
Annual financial statements
Income statement
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $75.4M | $10.1M | $1.7M | — | — | — | $2.9M | $1.4M | $1.7M | $1.2M |
| Cost of revenue | $96.4M | $11.4M | $0 | — | — | — | — | — | — | — |
| Gross profit | -$21.0M | -$1.3M | $1.7M | — | — | — | — | — | — | — |
| R&D | $117.7M | $138.4M | $130.5M | $117.4M | $110.8M | $134.9M | $105.4M | $36.1M | $16.0M | $10.4M |
| SG&A | $131.9M | $101.7M | $46.7M | $31.9M | $31.9M | $35.0M | $39.5M | $22.8M | $9.1M | $5.2M |
| Total operating expenses | — | — | — | — | — | — | — | $57.5M | $23.4M | $14.4M |
| Operating income | -$270.5M | -$241.4M | -$179.7M | -$143.4M | -$141.1M | -$168.1M | -$146.1M | -$57.5M | -$23.4M | — |
| Interest expense | $36.7M | $9.3M | $45.1M | $8.9M | $1.1M | $0 | $0 | — | — | — |
| Pre-tax income | -$285.6M | -$219.1M | -$208.4M | -$148.6M | -$142.0M | -$166.3M | -$139.0M | -$52.0M | -$23.4M | -$14.3M |
| Income tax | $2.0M | $1.5M | $19.0K | $272.0K | $58.0K | $24.2M | $15.2M | $7.3M | $3.7M | $1.8M |
| Net income | -$287.5M | -$220.7M | -$208.4M | -$148.8M | -$142.1M | -$142.1M | -$123.8M | -$44.8M | -$19.7M | -$12.6M |
| EPS, basic | -1.08 | -0.86 | -1.20 | -1.57 | -1.97 | -2.76 | -2.88 | — | — | — |
| EPS, diluted | -1.08 | -0.86 | -1.20 | -1.57 | -1.97 | -2.76 | -2.88 | -1.42 | -1.43 | -1.26 |
| Shares, diluted (wtd. avg.) | 266.1M | 255.2M | 173.9M | 95.0M | 72.1M | 51.6M | 43.1M | — | — | — |
Balance sheet
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash and equivalents | $104.1M | $227.4M | $240.3M | $382.8M | $310.3M | $154.1M | $211.4M | $217.6M | $137.1M | $28.1M |
| Short-term investments | $196.6M | $360.6M | $0 | — | — | — | — | — | — | — |
| Receivables | $24.0M | $15.0K | $109.0K | $121.0K | $0 | — | — | — | — | — |
| Inventory | $33.2M | $4.1M | $0 | — | — | — | — | — | — | — |
| Total current assets | $435.9M | $660.9M | $275.3M | $259.0M | $309.5M | $197.0M | $249.3M | $233.0M | $142.5M | — |
| Property, plant and equipment | $63.6M | $49.6M | $34.9M | $33.8M | $31.0M | $38.0M | $28.2M | $20.0M | $6.2M | — |
| Other intangibles | $19.8M | $12.4M | $0 | $0 | $65.0K | $158.0K | $254.0K | $0 | $0 | — |
| Total assets | $589.1M | $782.7M | $375.4M | $314.0M | $364.0M | $294.2M | $303.5M | $254.2M | $148.7M | — |
| Accounts payable | $3.1M | $2.0M | $103.0K | $162.0K | $153.0K | $2.3M | $1.1M | $2.0M | $1.9M | — |
| Total current liabilities | $73.4M | $60.7M | $44.7M | $35.5M | $28.8M | $33.6M | $25.0M | $21.1M | $5.0M | — |
| Long-term debt | — | — | — | — | — | — | $0 | $285.0K | $763.0K | — |
| Total liabilities | $410.9M | $355.4M | $263.9M | $99.5M | $92.9M | $84.2M | $48.7M | $21.6M | $6.1M | — |
| Retained earnings | -$1.39B | -$1.10B | -$878.6M | -$600.5M | -$558.4M | -$379.2M | -$237.2M | -$113.3M | -$47.9M | — |
| Total equity | $178.1M | $427.3M | $111.5M | $298.7M | $313.3M | $210.0M | $254.8M | $232.6M | $142.6M | $30.7M |
Cash flow
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | -$283.6M | -$206.3M | -$145.6M | -$112.3M | -$117.9M | -$117.8M | -$101.5M | -$31.5M | -$16.4M | -$9.8M |
| Depreciation and amortisation | $8.3M | $7.6M | $6.6M | $7.4M | $8.5M | $5.7M | $4.6M | $1.7M | $1.0M | $478.0K |
| Capital expenditure | $19.0M | $22.1M | $11.0M | $10.8M | $8.9M | $14.7M | $18.3M | $9.1M | $2.9M | $1.9M |
| Investing cash flow | $158.5M | -$394.6M | -$11.0M | -$10.8M | -$8.9M | -$14.7M | -$18.7M | -$9.5M | -$2.9M | -$1.9M |
| Financing cash flow | -$4.3M | $589.6M | -$883.0K | $223.6M | $284.1M | $74.4M | $108.9M | $156.9M | $127.7M | $32.2M |
Figures as tagged in each year's own filing, in US dollars. A year restated by a later filing shows the restated figure. Capital expenditure, dividends and buybacks are cash out, shown positive. A line the filer does not report is not listed. Latest from accession 0001730463-26-000038.
Plot the figures US dollars
- Revenue
- Gross profit
- Net income
| Fiscal year | FY2016 | FY2017 | FY2018 | FY2019 | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $1.2M | $1.7M | $1.4M | $2.9M | — | — | — | $1.7M | $10.1M | $75.4M |
| Gross profit | — | — | — | — | — | — | — | $1.7M | -$1.3M | -$21.0M |
| Net income | -$12.6M | -$19.7M | -$44.8M | -$123.8M | -$142.1M | -$142.1M | -$148.8M | -$208.4M | -$220.7M | -$287.5M |
Recent filings and events
- Results announced The quarterly or annual earnings release. Arrives four times a year from almost every company here. Item 2.02
- Regulation FD disclosure Something the company told the market and had to tell everyone at once - usually a slide deck or a press release. Item 7.01
- Material agreement signed The company entered an agreement outside the ordinary course of business - a large contract, a credit facility, a merger agreement. Item 1.01
- New debt or obligation The company has taken on debt or a comparable obligation. Item 2.03
- Unregistered share sale Shares issued outside a registered offering. Dilution, and for a small company often the way it is funded. Item 3.02
- Regulation FD disclosure Item 7.01
- Other event The catch-all. The company chose to disclose something that fits no other item, so the content is whatever it says it is. Item 8.01
- Shareholder vote The results of the annual meeting or a special vote. Item 5.07
- Other event Item 8.01
- Results announced Item 2.02
- Regulation FD disclosure Item 7.01
- Restructuring or exit costs A restructuring: layoffs, a plant closure, a business being wound down. Item 2.05
Item numbers are Form 8-K's own, and a filing date is up to four business days after the thing it reports. The same feed across the whole market.
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