| FINANCIAL REVIEW | |||||
| 2025 | 2024 | Change | |||
| US$'000 | US$'000 | US$'000 | |||
| Continuing operations | |||||
| Revenue | 959,526 | 594,486 | 365,040 | ||
| Gross profit | 553,204 | 272,125 | 281,079 | ||
| Loss after income tax expense | (532,404) | (173,774) | (358,630) | ||
| Adjusted net profit | 230,345 | 59,826 | 170,519 | ||
| Discontinued operation | |||||
| Loss for the period from Legend Group, net of tax | - | (203,149) | 203,149 | ||
| Gain on deconsolidation of Legend Group, net of tax | - | 3,232,210 | (3,232,210) | ||
| (Loss)/Profit for the year | (532,404) | 2,855,287 | (3,387,691) | ||
| (Loss)/Profit attributable to owners of the Company | (532,830) | 2,961,877 | (3,494,707) | ||
| (Loss)/Earnings per share for the year (US cent) | |||||
| -Basic | (24.58) | 139.63 | (164.21) | ||
| -Diluted | (24.58) | 135.97 | (160.55) | ||
| Adjusted profit and expenses: | |||||
| Gross profit | 556,576 | 280,320 | 276,256 | ||
| Selling and distribution expenses | 95,963 | 83,731 | 12,232 | ||
| Administrative expenses | 122,668 | 106,883 | 15,785 | ||
| R&D expenses | 69,237 | 52,123 | 17,114 |
*To better reflect the key performance of the Group's current operations, adjusted net profit is calculated by excluding the impact of the following items:
(i) share-based compensation expenses;
(ii) the impact of acquisitions and fair value losses on preferred shares;
(iii) losses from foreign exchange forward and option contracts;
(iv) impairment losses on long-term assets;
(v) foreign exchange gains or losses;
(vi) fair value gains or losses on non-current financial assets;
(vii) unrealized financing costs related to equity financing activities;
(viii) share of losses from Legend Biotech and service fees related to deconsolidation; and
(ix) impairment of investments in Legend Biotech.
This document is intended to provide a summary overview and does not constitute a complete description of the Company, its securities, or related matters. For more detailed information, please refer to the official announcement released by GenScript Group on March 15 on the Company's website. All information is subject to the official announcement.
Group Performance
- Revenue: US$959.5 million, +61.4% year-on-year
- Gross profit: US$553.2 million, +103.3% year-on-year
- Adjusted net profit: US$230.3 million, +285.0% year-on-year
Business Units' Performance
- GenScript Life Science Group (LSG): US$522.1 million, +14.8% year-on-year
- ProBio: US$388.7 million, +309.1% year-on-year
- Bestzyme: US$58.0 million, +7.9% year-on-year
PISCATAWAY, N.J., March 16, 2026 /PRNewswire/ --
GenScript Biotech Corporation (HKEX: 1548), a global company providing life science research services and products, biologics development & manufacturing services, and industrial biotechnology innovation, today announced financial results for full year 2025.
"2025 was a year of accelerated growth and disciplined execution for GenScript," said Sherry Shao, Rotating CEO of GenScript Biotech Corporation. "We delivered strong results while continuing to strengthen the integrated capabilities that differentiate GenScript - from gene synthesis and protein engineering to biologics development and industrial biotechnology innovation. Our performance reflects both solid end-market demand and the benefits of a more connected, globally-scaled operating model."
"Looking ahead, GenScript is well positioned to benefit from the next wave of biotechnology innovation, including AI-enabled discovery, advanced therapeutics, and rising demand for globally-reliable research and manufacturing infrastructure. We remain focused on high-quality growth, operational discipline, and long-term value creation for customers and shareholders."
FY2025 Financial Highlights*
Revenue
In 2025, GenScript recorded revenue of approximately US$959.5 million, representing an increase of 61.4% from approximately US$594.5 million in 2024. The growth is primarily attributable to (i) substantial increase of license revenue, mainly derived from LaNova sublicensing, (ii) continuous investment in commercial efforts, combined with global brand transformation, and enhanced brand awareness, particularly in Europe and North America, (iii) growing industry demand for AI-driven drug development, and multi-antibody drug development, fueling growth in gene-to-protein businesses, (iv) harnessing rebound in biologics CDMO demand and capitalizing on recovering market conditions, (v) continuous market expansion supported by launch of innovative industrial enzyme products.
Gross Profit
Group's gross profit increased by 103.3% to approximately US$553.2 million from approximately US$272.1 million in 2024 - primarily attributable to revenue expansion, especially license revenue, in biologics development services. Adjusted gross profit increased by 98.6% over the prior period.
Selling and Distribution Expenses
Selling and distribution expenses increased by 12.9% to approximately US$99.5 million, from approximately US$88.1 million in 2024 - attributable to the (i) expansion of commercial teams and local recruitment of experienced professionals, (ii) continued investment in regional operations, supporting business development and customer engagement in key global markets. Adjusted selling and distribution expenses increased by 14.6% over the prior period.
Administrative Expenses
Administrative expenses increased by 12.4% to approximately US$128.6 million in 2025 from approximately US$114.4 million in 2024 - mainly attributable to (i) continued expenditures in capacity expansion infrastructure and enhanced administrative functions (ii) initial phase expenses for the new site. Adjusted administrative expenses increased by 14.8% over the prior period.
R&D Expenses
R&D expenses increased by 32.4% to approximately US$71.2 million from approximately US$53.8 million in 2024 - mainly attributable to the accelerated recruitment of highly-skilled professionals and expansion of strategic research initiatives. Adjusted R&D expenses increased by 32.8% over the prior period.
Adjusted Net Profit
Adjusted net profit of the Group was approximately US$230.3 million for FY2025.
Strategic Drivers of FY2025 Performance
1. Integrated platform synergies
The Group continued to capture greater value from integration across its technology platforms. LSG's gene-to-protein workflow became an increasingly important growth engine, with platform synergies contributing approximately 65% of LSG's 2025 revenue growth.
2. Global reach and diversified revenue base
GenScript further strengthened its international footprint, growing across NA, EU, and APAC. Europe delivered five consecutive years of growth, with 2025 revenue increasing 29% year-on-year, while Asia-Pacific grew 33% year-on-year, underscoring broader geographic diversification.
3. Product and technology innovation
GenScript continued to advance proprietary technologies and product platforms spanning life science research tools, biologics discovery and development, and industrial biotechnology applications. These innovations strengthened differentiation, improved productivity, and supported customer adoption across high-growth applications.
4. Automation and digitalization
Expanded use of automation and AI-enabled systems in R&D and manufacturing, improved efficiency, shortened timelines, and enhanced operational resilience. Within 2025, four major production sites of LSG are upgraded into automated, AI-driven "lights-out" facilities, and 60% of global production capacity will be powered by AI-driven automation by end-2026.
Business Segment Highlights
GenScript Life Science Group
GenScript LSG generated US$522.1 million in revenue, up 14.8% year-on-year, surpassing the US$500 million milestone. The business continued to benefit from adoption of its integrated gene-to-protein platform, strong demand from pharma and biotech customers, and growing traction in AI-enabled discovery.
Among key highlights:
- Revenue from integrated protein expression services grew +50%.
- Orders flowing from gene synthesis into integrated protein expression platform increased +160% year-on-year.
- Serving 66,000+ active customers globally and cited in 118,000+ publications, reinforcing its position as a trusted, global scientific community partner.
ProBio
ProBio delivered exceptional growth in 2025, with revenue reaching US$388.7 million, up 309.1% year-on-year. Excluding one-time items, fee-for-service revenue grew 21% year-on-year, with improving order momentum. ProBio secured 41 antibody & protein drug development projects; 60 cell and gene therapy CDMO projects and 20 new IND clearances across CGT programs.
Expanding its discovery, CMC, and GMP manufacturing capabilities, ProBio strengthened its position with international customers and advanced flexible collaboration models - including fee-for-service, co-development, and out-licensing.
Bestzyme
Bestzyme generated US$58.0 million revenue, up 7.9% year-on-year. The business continued advancing industrial biotechnology innovation through new enzyme products, stronger AI-enabled R&D capabilities, and international market development.
Performance highlights include increased contribution from innovative enzyme products, progress in sweet protein commercialization, and 140% improvement in R&D efficiency driven by AI-powered workflows.
A Resilient Global Operating Network: Automation, Worldwide Operations, ESG
GenScript continued to reinforce its global operating network to support long-term, high-quality growth. In 2025, the Group advanced its manufacturing footprint across NA, EU, and APAC, with increasing use of automation and digitalization to improve productivity, speed, and reliability. GenScript's global operating model is designed to support stronger service consistency, greater supply resilience, and scalable execution across its businesses.
ESG Leadership and Responsible Growth
GenScript strengthened its ESG profile, being recognized by leading external benchmarks:
- MSCI ESG Rating upgraded to AA
- Included in the FTSE4Good Index Series
- Awarded EcoVadis Silver Medal
- Included in the S&P Sustainability Yearbook
These recognitions reflect GenScript's ongoing commitment to responsible growth, operational integrity, and long-term stakeholder value-creation.
Outlook
Looking ahead to 2026, GenScript expects continued growth supported by rising demand for integrated biotechnology platforms, advanced therapeutics development, and higher productivity from automation and digitalized operations.
The Group's business focus remains on:
- strengthening cross-platform synergy
- broadening global customer reach
- improving leverage through automation and digitalization
- advancing proprietary technologies across biologics and industrial biotechnology
Based on current trends and management guidance, GenScript expects:
- 15%–18% revenue growth for GenScript LSG
- 20%–25% fee-for-service revenue growth for ProBio
- 10%–15% revenue growth for Bestzyme
About GenScript Biotech Corporation
Founded in 2002 in New Jersey, GenScript Biotech Corporation operates through three core businesses; GenScript Life Science Group, ProBio, and Bestzyme. The Group accelerates innovation in biotech & healthcare by providing researchers and companies with the building blocks needed to develop groundbreaking treatments and products. Guided by its mission to 'Make People and Nature Healthier Through Biotechnology', GenScript supports customers across the full innovation lifecycle (biotechnology research, drug discovery, biologics development, and industrial biotechnology applications) with a team of 5,700+ employees serving 200,000+ customers across 100+ countries.
Investor & Media Contacts
Investor Relations: ir@genscript.com
Media Inquiries: melis.inceer@genscript.com
Company Website: https://www.genscript.com
FINANCIAL REVIEW
2025
2024
Change
US$'000
US$'000
US$'000
Continuing operations
Revenue
959,526
594,486
365,040
Gross profit
553,204
272,125
281,079
Loss after income tax expense
(532,404)
(173,774)
(358,630)
Adjusted net profit
230,345
59,826
170,519
Discontinued operation
Loss for the period from Legend Group, net of tax
-
(203,149)
203,149
Gain on deconsolidation of Legend Group, net of tax
-
3,232,210
(3,232,210)
(Loss)/Profit for the year
(532,404)
2,855,287
(3,387,691)
(Loss)/Profit attributable to owners of the Company
(532,830)
2,961,877
(3,494,707)
(Loss)/Earnings per share for the year (US cent)
-Basic
(24.58)
139.63
(164.21)
-Diluted
(24.58)
135.97
(160.55)
Adjusted profit and expenses:
Gross profit
556,576
280,320
276,256
Selling and distribution expenses
95,963
83,731
12,232
Administrative expenses
122,668
106,883
15,785
R&D expenses
69,237
52,123
17,114
*To better reflect the key performance of the Group's current operations, adjusted net profit is calculated by excluding the impact of the following items:
(i) share-based compensation expenses;
(ii) the impact of acquisitions and fair value losses on preferred shares;
(iii) losses from foreign exchange forward and option contracts;
(iv) impairment losses on long-term assets;
(v) foreign exchange gains or losses;
(vi) fair value gains or losses on non-current financial assets;
(vii) unrealized financing costs related to equity financing activities;
(viii) share of losses from Legend Biotech and service fees related to deconsolidation; and
(ix) impairment of investments in Legend Biotech.
This document is intended to provide a summary overview and does not constitute a complete description of the Company, its securities, or related matters. For more detailed information, please refer to the official announcement released by GenScript Group on March 15 on the Company's website. All information is subject to the official announcement.
** This press release is distributed by PR Newswire through automated distribution system, for which the client assumes full responsibility. **
GenScript Biotech Corp Reports Strong FY2025 Results as Integrated Platform Strategy and Global Execution Drive High-Quality Growth
