Bavarian Nordic Revenue Miss, Shares Down 5%

Bavarian Nordic reported Q1 2026 revenue of DKK1.06 bn, missing the DKK1.13 bn consensus estimate.
Public Preparedness segment generated DKK294 mn versus analysts’ DKK384 mn expectation, while Travel Health beat forecasts at DKK721 mn.
EBITDA fell to DKK165 mn, well below the DKK277 mn consensus, contributing to a >5% share price decline.
Company raised full‑year 2026 revenue guidance to DKK5.5‑5.7 bn and EBITDA margin outlook to ~28%, citing secured orders of DKK2 bn.