Kuros Biosciences Ltd (CHIX:KURNz)

Half Year 2026 Kuros Biosciences AG Earnings Call Transcript

Aug 13, 2026 / 01:00 PM GMT

Release Date Price: CHF23.26 (+1.53%)

Transcript

Key Points

Positve

Kuros Biosciences Ltd (CSBTF) achieved a significant profitability milestone, delivering $12.5 million in adjusted EBITDA and $4.4 million in net profit in H1 2026, a major shift from a loss in the prior year.
The company reported strong revenue growth of 45% year-over-year, reaching $92.4 million in medical device sales, driven by volume and market penetration rather than price increases.
Kuros Biosciences Ltd (CSBTF) is expanding its commercial reach with a 34% increase in distributor reach and strong hospital account growth, with market share estimated to have increased fourfold since 2023.
The company is strengthening its clinical evidence portfolio with three level-one studies (PROOF, PRECISE, ASTRA) on track, and recently published data showing a 97.7% six-month fusion rate in high-risk cervical patients.
Kuros Biosciences Ltd (CSBTF) is building operational scale with a new U.S. manufacturing facility in Alpharetta, Georgia, expected to go live in H2 2026, creating a dual-source production platform to de-risk supply chain and mitigate tariffs.
The company maintains a debt-free balance sheet with $54.2 million in cash and receivables, plus an undrawn $12.4 million bridge facility, providing financial flexibility to fund growth initiatives.

Negative

Kuros Biosciences Ltd (CSBTF) kept its full-year 2026 guidance unchanged at approximately 35% growth, implying a significant moderation in H2 growth compared to the 45% achieved in H1.
The company expects margin dilution in H2 2026 due to the ramp-up of the U.S. manufacturing facility, including costs for tech transfer and hiring operators, which could offset some operating leverage.
International sales were weak and lumpy in Q2, with the company citing regulatory challenges and timing issues, and this segment remains a small proportion of overall revenue.
The company expensed approximately $2 million in business transformation costs in H1 related to IT and operational improvements, which temporarily impacted G&A expenses.
Working capital build is deliberate and growth-linked, with inventory supporting second-half demand and the U.S. production ramp, which could pressure cash flow in the near term.
Surgeon penetration rates show that while the number of surgeons using the product is growing, the average surgeon utilization is slightly lower, indicating that new surgeons are not yet fully ramped up in their usage.

Refinitiv StreetEvents Event Transcript
E D I T E D V E R S I O N

KURN.S - Kuros Biosciences AG
Half Year 2026 Kuros Biosciences AG Earnings Call
Aug 13, 2026 / 01:00PM GMT

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Presentation
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Unidentified_1 [1]
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Good day and thank you for standing by. Welcome to the Kuros Bioscience Half Year Results 2026 conference call and webcast. I will now hand over to Carly Dahmer, Vice President, Marketing. Please go ahead.

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Unidentified_2 [2]
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Thank you. Good morning, everybody, and welcome to the Half Year Financial Results webcast. With me today and presenting to you will be Chris Fair, our CEO, and Daniel Geiger, our CFO.

The presentation today will be followed by Q&A, so please submit your questions via the webcast, and I will run that session at

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