Lifecore Reaffirms 2026 Outlook After Q1 Adds Three Site Transfers

Overview

• Lifecore, a contract maker of injectable drugs, reported first‑quarter 2026 results and kept guidance for $120–$125 million in revenue and $20.5–$25 million in adjusted EBITDA.
• Executives said revenue fell from a year earlier due to previously discussed headwinds, while liquidity improved and cost actions lowered expenses.
• The company signed three commercial site transfer programs in the quarter, including a new aesthetics customer moving an approved product’s U.S. manufacturing, which management says could begin generating revenue in 2028.
• Two other agreements came from an existing U.S. biopharma client, with one transfer requiring regulatory approval before production at Lifecore and another adding a second delivery system for an ophthalmic drug Lifecore already makes.
• Leaders outlined a growth plan on the earnings call that targets a 12% annual revenue growth rate and EBITDA margins above 25% by 2029, with outcomes tied to contract timing and the pace of new programs becoming commercial.