# Alvotech Q3 Revenue Falls 2%, With 2026 Results Expected Near Low End

By John Kim

Canonical URL: https://www.tokenpost.com/news/business/55941
Published: 2026-11-12T21:50:28.000Z
Updated: 2026-11-12T21:50:28.000Z
Section: Business

> Product and service revenue rose 78.3%, while license and other revenue dropped 34.4%. Adjusted EBITDA more than doubled, but gross margin narrowed to 54%.

Alvotech, a biosimilar maker, recorded third-quarter revenue of $111.6 million, down 2% from a year earlier. Alvotech maintained its 2026 guidance, saying it expects total revenue and EBITDA to land near the lower ends of their respective ranges.

Product and service revenue increased 78.3% to $58.2 million. License and other revenue fell 34.4% to $53.2 million.

Adjusted EBITDA rose to $31.5 million from $14.4 million a year earlier. Gross margin narrowed to 54% from 69%.

CEO Lisa Graver said the company’s priority is to deliver planned fourth-quarter product shipments while continuing to build its platform for long-term growth.