BRAIN Biotech AG BRAIN Biotech reports its 9M results and continues to target a break-even adjusted Group-EBITDA

BRAIN Biotech reports its 9M results and continues to target a break-even adjusted Group-EBITDA

• BRAIN Biotech AG continues to aim for break-even result in adjusted Group-EBITDA
• Forecast Raised for the Segment BRAINBioIncubator
• Forecast Lowered for the Segment BRAINBiocatalysts

ZWINGENBERG, August 27, 2026 – BRAIN Biotech AG, a leading provider of specialty enzymes and innovative biological solutions for industry, has published its financial results for the first nine months of fiscal year 2025/26.

In the first nine months of fiscal year 2025/26, the BRAIN Biotech Group generated revenue of € 34.6 million, down 10.5% from the prior year (€ 38.7 million). In the third quarter, revenue was down 16.6% compared to the same period last year. The decline is partly attributable to the particularly strong performance in the third quarter of 2024/25 and the resulting high basis for comparison. The absolute decline in revenue is due to lower revenues in the segment BRAINBioIncubator.

Adjusted consolidated EBITDA declined in absolute terms slightly from € -0.4 million to € -0.7 million. This was primarily due to the lower group revenues. Strict cost discipline and the high contribution margin from the deucrictibant milestone payment helped offset a more significant negative impact on earnings.

Adriaan Moelker, CEO of BRAIN Biotech AG, comments: „For my final quarterly report as CEO of the company, I certainly would have liked to see a more positive revenue trend in our core segment. I am absolutely satisfied though with the development of the BRAINBioIncubator as well as the Group’s overall EBITDA. The company’s clear focus remains on further increasing the growth momentum of product sales in the BRAINBiocatalysts division. I am confident that our company will return to profitable growth in this area in both the short and over the longer term, and I wish my designated successor, Dr. Sven Weber, every success in further expanding BRAIN Biotech AG into a leading company in the field of specialty enzymes.”

Segment Performance

Revenue in the core BRAINBiocatalysts segment (enzymes, microorganisms, and ingredients) amounted to € 30.8 million in the first nine months of the reporting period, representing a 13.3% decline compared with the same period last year (€ 35.5 million). The third quarter of the previous year was particularly strong. The absolute decline in revenue was due to weak revenue growth, particularly in the baking enzymes segment. In addition, there were production interruptions due to the relocation of production facilities to a new joint manufacturing site in the Netherlands. Adjusted EBITDA fell from € 3.4 million to € 1.6 million, primarily due to the decline in revenue and the production relocation.

Revenue in the BRAINBioIncubator segment (research-intensive R&D projects with industry partners and in-house projects) totaled € 3.9 million, up € 0.7 million from the previous year (€ 3.2 million). In the first quarter, a milestone payment of € 1.0 million was received for the deucrictibant project, which contributed significantly to revenue growth. The high contribution margin from the milestone payment, combined with lower personnel costs in the segment, led to a significantly improved adjusted EBITDA of € 0.4 million, compared with € -1.1 million in the same period of the previous year.

BRAIN Biotech Holding primarily includes personnel and other expenses related to Group administration, the further development of the BRAIN Biotech Group, the costs of the stock exchange listing, central Group financing, and M&A activities. The segment’s adjusted EBITDA amounted to € -2.7 million, the same as in the prior year, and is thus in line with the full-year plan.

Outlook

Due to the deteriorating overall economic environment and additional company-specific challenges, the company now forecasts revenue in its core BRAINBiocatalysts segment to be below the prior-year level (previously: around the prior-year level) and a related adjusted segment EBITDA margin below 10% (previously: around 10%). In contrast, the company is raising its forecast for the BRAINBioIncubator segment in fiscal year 2025/26 to revenue of around € 6.0 million (previously around € 5.0 million) and positive adjusted EBITDA of at least € 1.0 million (previously positive adjusted EBITDA). Despite the weaker revenue performance in the core segment BRAINBiocatalysts, the company continues to expect an adjusted Group-EBITDA around the break-even point.

Key financial data for the first nine months of fiscal year 2025/26 (rounded)

(in € Mio.)	9M 2025/26	9M 2024/25
Revenues	34.6	38.7
BRAINBiocatalysts	30.8	35.5
BRAINBioIncubator	3.9	3.2
Total operating performance1	35.9	40.6
Adjusted EBITDA2	-0.7	-0.4
EBITDA	-2.0	-1.6
(in € million)	30.06.2026	30.09.2025
Cash and cash equivalents	0.93	6.2

1 Revenues + change in inventories + other income including R&D grants
2 The reconciliation from adjusted to unadjusted EBITDA can be found in the 9M report for the period from 1 October 2025 to 30 June 2026
3 In addition, the company has access to a revolving credit line in the amount of € 9.0 million

For more information, see the 9M Report 2025/26:
https://www.brain-biotech-group.com/en/investors/financial-publications-calendar/financial-reports/

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Contact Investor Relations

Martina Schuster, Investor Relations
Phone: +49 6251 9331-69
Email: martina.schuster@brainbio.com

Contact Media

Dr. Stephanie Konle, PR & Corporate Communications
Phone: +49 6251 9331-70
Email: stephanie.konle@brainbio.com

BRAIN Biotech

The BRAIN Biotech Group is a leader in researching, developing, and producing specialty enzymes, focusing on the food and life sciences industries. In addition, the group develops microbial production strains and scalable bioprocesses for the economic production of specialty enzymes and other proteins. BRAIN Biotech also offers customized biological solutions to the industry for more sustainable products and efficient processes.

BRAIN Biotech AG is the parent company of the BRAIN Biotech Group. The company´s activities are divided into two business segments: BRAINBiocatalysts (development, production, and distribution of specialty enzymes, microorganisms, and ingredients) and BRAINBioIncubator (research-intensive development projects and pharmaceuticals).

BRAIN Biotech operates its own fermentation facilities in the UK and has additional production sites in continental Europe and the US. BRAIN Biotech AG has been listed on the Frankfurt Stock Exchange since February 9, 2016 (Ticker symbol: BNN; ISIN: DE0005203947 / WKN: 520394). In the 2024/25 fiscal year, the group generated revenue of € 49.6 million with around 280 employees. For more information, visit: www.brain-biotech-group.com.

Disclaimer

This press release contains forward-looking statements. These statements reflect the current views, expectations, and assumptions of the management of BRAIN Biotech AG, and are based on information currently available to the management.

Forward-looking statements are no guarantees of future performance, and entail both known and unknown risks as well as uncertainties that could cause actual results, performance or events to differ materially from those expressed or implied in such statements. Numerous factors exist that could influence the future performance of and future developments at BRAIN Biotech AG and the BRAIN Biotech Group. Such factors include, but are not limited to, changes in the general economic and competitive environment, risks associated with capital markets, currency exchange rate fluctuations, changes in international and national laws and regulations, in particular with respect to tax laws and regulations, as well as other factors.

BRAIN Biotech AG does not undertake any obligation to update or revise any forward-looking statements.

BMC® and BEC® are EU word marks of BRAIN Biotech AG.