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Earnings are out

MESO · NASDAQ · Biotechnology

Mesoblast (ADR)

Develops FDA-approved Ryoncil for pediatric steroid-refractory acute graft-versus-host disease.

$17.44

After-hours close−0.03 (−0.17%)

At close$17.47(−3.91%)

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Profile

Mesoblast LimitedMESOHealth Care

Develops donor-derived, off-the-shelf cell medicines. Ryoncil is FDA-approved for pediatric steroid-refractory acute graft-versus-host disease, supporting U.S. commercialization.

Develops allogeneic, donor-derived cell medicines designed for off-the-shelf use. Ryoncil, its remestemcel-L-rknd therapy, is FDA-approved for steroid-refractory acute graft-versus-host disease in patients aged two months and older.

Commercialization is centered in the United States after Ryoncil became commercially available. The Melbourne-founded company remains dual-listed in Australia and the United States, with operations spanning the United States, Australia, and Singapore.

Uses well-characterized cell populations and translational studies to design trials against international regulatory criteria. Clinical development, manufacturing, and commercialization also rely on strategic relationships.

Cell-therapy operations are shaped by FDA requirements.

Company facts

CEOSilviu Itescu

ListedNov 13, 2015

ExchangeNASDAQ

HeadquartersMelbourne, Australia

CountryAustralia

Employees80

CIK0001345099

ISINUS5907174016

Key statistics

Market cap$2.26B

EPS (ttm)−$0.7300

P/E (ttm)−23.89

ROE-16.1%

P/B3.96

P/S34.96

Dividend yield—

Beta1.45vs XLV −0.12

Year to date −3.8% · Average volume (30d) 207.6K

Analysts

Price target, next 12 months$39.00+123.6%Median of 11 analysts · vs the Aug 28 close

ConsensusBuy5 of 11 analysts rate it buy or better

Ratings

Strong buyBuyHoldSellStrong sell

Target range

Last close $17.44

High$39.00+123.6%

Median$39.00+123.6%

Low$39.00+123.6%

12 months agoNowIn 12 months

Latest analyst notes

Date	Firm	Action	Prior rating	Rating	Prior target	Target
Aug 27, 2026	Piper Sandler	Reiterate		Overweight	$11	$39
Nov 25, 2025	Jefferies	Upgrade	Hold	Buy
Jul 18, 2025	Jefferies	Downgrade	Buy	Hold
Dec 23, 2024	Jefferies	Downgrade	Buy	Hold

Earnings

EPS

Estimate−$0.11

Reported−$0.13−23.2%

Revenue

Estimate$67.0M

Reported$69.0M+3.0%

History

Report date	EPS est	EPS	Surprise	Revenue est	Revenue	Surprise	Next session
Aug 26, 2026	−$0.11	−$0.13	−23.2%	$67.0M	$69.0M	+3.0%	+7.96%
Feb 26, 2026Q2 FY26	−$0.24	−$0.31	−31.2%	$53.1M	$51.3M	−3.2%	−6.32%
Sep 3, 2025Q4 FY25	−$0.37	−$0.21	+43.0%	$30.7M	$7.0M	−77.1%	+4.97%
Apr 30, 2025Q3 FY25	—	−$0.21	—	$7.5M	$7.0M	−6.2%	+4.74%

View details

Financial highlights

	Q1 FY25	Q2 FY25	Q3 FY25	Q4 FY25	Q1 FY26	Q2 FY26
Revenue	$1.6M	$1.6M	$7.0M	$7.0M	$25.7M	$25.7M
Gross profit	−$1.7M	−$1.7M	−$16.2M	−$16.2M	−$1.2M	−$1.2M
Operating income	−$20.6M	−$20.6M	−$34.4M	−$34.4M	−$38.6M	−$38.6M
Net income	−$24.0M	−$24.0M	−$27.1M	−$27.1M	−$20.1M	−$20.1M
Diluted EPS	−$0.21	−$0.21	−$0.21	−$0.21	−$0.15	−$0.15
Gross margin	-107.8%	-107.8%	-231.1%	-231.1%	-4.7%	-4.7%
Operating margin	-1,306.7%	-1,306.7%	-489.5%	-489.5%	-150.2%	-150.2%

Fiscal years (4-quarter sums)FY21 $7.4M · FY22 $10.2M · FY23 $7.5M · FY24 $5.9M · FY25 $17.2M

Balance sheet, Dec 31, 2025Cash & short-term investments $129.6M · Total debt $135.1M · Total assets $782.3M · Shareholders' equity $574.7M

Dividends

No dividends on record.

Ownership

Institutions 2.53%Insiders —

Shares outstanding 129.70M · Float 83.68M · 64.5% free float

Insiders — filings are in the shares behind the receipt.

This listing is a depositary receipt and the Form 4 positions here are filed in the shares behind it, a different unit from the share count and in a ratio the filings never state, so no insider percentage is shown.

Top shareholders13F · 13D/G · Form 4

Holder	Shares	% outstanding	Form	Filed
George, Gregory	288.52M	22.36%	13G	Mar 11, 2026
Gueck William J.	64.52M	5.00%	13G	Sep 16, 2025
BlackRock, Inc.	630.9K	0.49%	13F	May 13, 2026
Morgan Stanley	514.4K	0.40%	13F	May 15, 2026
Goldman Sachs Group Inc	397.2K	0.31%	13F	May 15, 2026

Insider tradesForm 4

Date	Insider	Role	Shares	Avg price
Apr 9, 2026	Gregory George	director, 10 percent owner:	+2,131,890	$4.93
Apr 10, 2026	Gregory George	director, 10 percent owner:	+2,324,072	$1.48
Apr 4, 2026	Gregory George	director, 10 percent owner:	+4,000,000	$1.42