Technology

Avantor® Reports Second Quarter 2026 Results

Published

4 hours ago

July 29, 2026

Net sales of $1,692.3 million; increase of 0.5%; organic decline of 0.4%Net income of $38.1 million; Adjusted EBITDA of $254.3 millionDiluted GAAP EPS of $0.06; adjusted EPS of $0.21Operating cash flow of $178.2 million; free cash flow of $142.8 millionIncreases FY 2026 organic revenue growth and adjusted EPS guidance

RADNOR, Pa., July 29, 2026 /PRNewswire/ — Avantor, Inc. (NYSE: AVTR), a leading global provider of mission-critical products and services to customers in the life sciences and advanced technology industries, reports better than expected results for the second fiscal quarter of 2026.

Emmanuel Ligner, President and Chief Executive Officer, says: “Our Revival program is strengthening how we serve our customers, leading to improved business performance.

“Our second quarter results exceeded our expectations across several key financial metrics, and we generated robust free cash flow, which we used to repay $112.1 million of debt, reinforcing our commitment to strengthen our balance sheet. I’m delighted by the improved performance in our VWR Distribution and Services segment, which returned to positive organic revenue growth more quickly than we anticipated. Also, our Bioscience and Medtech Products segment performed near the high end of our expectations. We continue to focus on creating a better experience for our customers and delivering long-term value for our shareholders,” Ligner concludes.

Second Quarter 2026

For the three months ended June 30, 2026, net sales were $1,692.3 million, which was up 0.5% compared to the second quarter of 2025. Foreign currency translation had a positive impact of 0.9%, resulting in a 0.4% decline in net sales on an organic basis.

Net income decreased to $38.1 million from $64.7 million in the second quarter of 2025, and net income margin was 2.3%; adjusted net income was $143.3 million compared to $161.2 million in the prior-year period. Adjusted EBITDA was $254.3 million, with an adjusted EBITDA margin of 15.0%.

Operating income was $121.8 million, with an operating income margin of 7.2%; adjusted operating income was $225.1 million, with an adjusted operating income margin of 13.3%.

Diluted earnings per share on a GAAP basis was $0.06, and adjusted diluted earnings per share was $0.21.

Second Quarter 2026 – Segment Results

VWR Distribution & Services

Net sales were $1,240.5 million, a reported increase of 2.7%, as compared to $1,207.5 million in the second quarter of 2025. Foreign currency translation had a positive impact of 1.0%, resulting in a sales increase of 1.7% on an organic basis.Adjusted Operating Income was $126.4 million as compared to $141.6 million in the comparable prior period. Adjusted Operating Income margin was 10.2%.

Bioscience & Medtech Products

Net sales were $451.8 million, a reported decrease of 5.1%, as compared to $475.9 million in the second quarter of 2025. Foreign currency translation had a positive impact of 0.5%, resulting in a 5.6% sales decline on an organic basis.Adjusted Operating Income was $117.6 million, as compared to $131.4 million in the comparable prior period. Adjusted Operating Income margin was 26.0%.

Adjusted Operating Income is Avantor’s segment reporting profitability measure under generally accepted accounting principles and is used by management to measure and evaluate the performance of our Company’s business segments.

Balance Sheet and Cash Flow

As of June 30, 2026, total debt, gross, was $3,715.4 million and cash and cash equivalents were $306.8 million.

GAAP net leverage was (5.9x), and adjusted net leverage was 3.3x, as of June 30, 2026.

For the three months ended June 30, 2026, operating cash flow was $178.2 million, while free cash flow was $142.8 million.

Updated 2026 Guidance

Avantor updates its fiscal 2026 financial guidance.

Fiscal 2026 guidance

(as of April 29, 2026)

Updated Fiscal 2026 guidance

(as of July 29, 2026)

Organic revenue growth (1)

-2.5% to -0.5%

-0.5% to +0.5%

Adjusted EBITDA margin (1)

14.8% to 15.3%

Adjusted EPS (1)

$0.77 to $0.83

$0.80 to $0.83

Free cash flow (1)(2)

$500M to $550M

(1)

Non-GAAP measure (definitions and/or reconciliations below). We are unable to provide a

reconciliation of the non-GAAP measures provided in our full-year 2026 guidance without

unreasonable effort because of the difficulty in forecasting and quantifying certain amounts

and adjustment items with a reasonable degree of certainty including net income, restructuring

charges, foreign currency exchange gains and losses and income tax expense. These

amounts are dependent upon future events and may be outside of our control. We note that

the actual impact of these items may have potentially significant impact on our full-year results

determined in accordance with GAAP.

(2)

Excludes cash restructuring costs.

Fiscal 2026 Assumptions

Reported revenue range is 0.0% to +1.0%, reflecting 0.5% foreign exchange tailwindBlended EUR/USD exchange rate of 1.15Net interest expense is expected to decline modestly when compared to Fiscal 2025Adjusted effective tax rate of approximately 22.5%Fully diluted share count of 677M shares

Conference Call
We will host a conference call to discuss our results today, July 29, 2026 at 8:00 a.m. Eastern Time. The live webcast and presentation, as well as a replay, will be available on the investor section of Avantor’s website.

About Avantor
Avantor® is a leading life science tools company and global provider of mission-critical products and services to the life sciences and advanced technology industries. We work side-by-side with customers at every step of the scientific journey to enable breakthroughs in medicine, healthcare, and technology. Our portfolio is used in virtually every stage of the most important research, development and production activities at more than 300,000 customer locations in 180 countries. For more information, visit corporate.avantorsciences.com and find us on LinkedIn, X (Twitter) and Facebook.

Use of Non-GAAP Financial Measures
To evaluate our performance, we monitor a number of key indicators. As appropriate, we supplement our results of operations determined in accordance with U.S. generally accepted accounting principles (“GAAP”) with certain non-GAAP financial measures that we believe are useful to investors, creditors and others in assessing our performance. These measures should not be considered in isolation or as a substitute for reported GAAP results because they may include or exclude certain items as compared to similar GAAP-based measures, and such measures may not be comparable to similarly titled measures reported by other companies. Rather, these measures should be considered as an additional way of viewing aspects of our operations that provide a more complete understanding of our business. We strongly encourage investors to review our consolidated financial statements included in reports filed with the SEC in their entirety and not rely solely on any one single financial measure or communication.

The non-GAAP financial measures used in this press release are sales growth (decline) on an organic basis, Adjusted Operating Income, Adjusted Operating Income margin, Adjusted EBITDA, Adjusted EBITDA margin, adjusted net income, adjusted EPS, adjusted net leverage, free cash flow and free cash flow conversion.

Organic net sales growth (decline) eliminates from our reported net sales change the impacts of revenues from acquisitions and divestitures that occurred in the last year (as applicable) and changes in foreign currency exchange rates. We believe that this measurement is useful to investors as a way to measure and evaluate our underlying commercial operating performance consistently across our segments and the periods presented. This measure is used by our management for the same reason.Adjusted Operating Income is our operating income or loss adjusted for the following items: (i) amortization of acquired intangible assets, (ii) charges associated with the impairment of certain assets, (iii) gain on sale of business, and (iv) certain other adjustments. Adjusted Operating Income margin is Adjusted Operating Income divided by net sales as determined under GAAP. We believe that these measures are useful to investors as ways to analyze the underlying trends in our business consistently across the periods presented. These measures are used by our management for the same reason. Additionally, Adjusted Operating Income is our segment reporting profitability measure under GAAP.Adjusted EBITDA is our net income or loss adjusted for the following items: (i) interest expense, (ii) income tax expense, (iii) amortization of acquired intangible assets, (iv) depreciation expense, (v) losses on extinguishment of debt, (vi) charges associated with the impairment of certain assets, (vii) gain on sale of business, and (viii) certain other adjustments. Adjusted EBITDA margin is Adjusted EBITDA divided by net sales as determined under GAAP. We believe that these measures are useful to investors as ways to analyze the underlying trends in our business consistently across the periods presented. These measures are used by our management for the same reason.Adjusted net income is our net income or loss first adjusted for the following items: (i) amortization of acquired intangible assets, (ii) losses on extinguishment of debt, (iii) charges associated with the impairment of certain assets, (iv) gain on sale of business, and (v) certain other adjustments. From this amount, we then add or subtract an assumed incremental income tax impact on the above-noted pre-tax adjustments, using estimated tax rates, to arrive at Adjusted Net Income. We believe that this measure is useful to investors as a way to analyze the business consistently across the periods presented. This measure is used by our management for the same reason.Adjusted EPS is our adjusted net income divided by our diluted GAAP weighted average share count adjusted for anti-dilutive instruments. We believe that this measure is useful to investors as an additional way to analyze the underlying trends in our business consistently across the periods presented. This measure is used by our management for the same reason.Adjusted net leverage is equal to our gross debt, reduced by our cash and cash equivalents, divided by our trailing 12-month Adjusted EBITDA (excluding stock-based compensation expense and including the expected run-rate effect of cost synergies and the incremental results of completed acquisitions and divestitures as if those acquisitions and divestitures had occurred on the first day of the trailing 12-month period). We believe that this measure is useful to investors as a way to evaluate and measure the Company’s capital allocation strategies and the underlying trends in the business. This measure is used by our management for the same reason.Free cash flow is equal to our cash flows from operating activities, less capital expenditures, plus direct transaction costs and income taxes paid related to acquisitions and divestitures (as applicable) in the period. Free cash flow conversion is free cash flow divided by adjusted net income. We believe that these measures are useful to investors as they provide a view on the Company’s ability to generate cash for use in financing or investing activities. These measures are used by our management for the same reason.

Reconciliations of these non-GAAP financial measures to the most directly comparable GAAP financial measures are included in the tables accompanying this release.

Forward-Looking and Cautionary Statements
This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, and are subject to the safe harbor created thereby under the Private Securities Litigation Reform Act of 1995. All statements other than statements of historical fact included in this press release are forward-looking statements. Forward-looking statements discuss our current expectations and projections relating to our financial condition, results of operations, plans, objectives, future performance and business. These statements may be preceded by, followed by or include the words “aim,” “anticipate,” “assumption,” “believe,” “continue,” “estimate,” “expect,” “forecast,” “goal,” “guidance,” “intend,” “likely,” “long-term,” “near-term,” “objective,” “opportunity,” “outlook,” “plan,” “potential,” “project,” “projection,” “prospects,” “seek,” “target,” “trend,” “can,” “could,” “may,” “should,” “would,” “will,” the negatives thereof and other words and terms of similar meaning.

Forward-looking statements are inherently subject to risks, uncertainties and assumptions; they are not guarantees of performance. You should not place undue reliance on these statements. We have based these forward-looking statements on our current expectations and projections about future events. Although we believe that our assumptions made in connection with the forward-looking statements are reasonable, we cannot assure you that the assumptions and expectations will prove to be correct. Factors that could contribute to these risks, uncertainties and assumptions include, but are not limited to, the factors described in “Risk Factors” in our most recent Annual Report on Form 10-K, and subsequent quarterly reports on Form 10-Q, as such risk factors may be updated from time to time in our periodic filings with the SEC.

All forward-looking statements attributable to us or persons acting on our behalf are expressly qualified in their entirety by the foregoing cautionary statements. In addition, all forward-looking statements speak only as of the date of this press release. We undertake no obligations to update or revise publicly any forward-looking statements, whether as a result of new information, future events or otherwise other than as required under the federal securities laws.

Investor Relations Contact
Chris Fidyk
Vice President, Investor Relations
Avantor
chris.fidyk@avantorsciences.com

Global Media Contact
Valerie Collado
Director of External Communications and Community Impact
Avantor
484-885-9338
valerie.collado@avantorsciences.com

Avantor, Inc. and subsidiaries

Unaudited condensed consolidated statements of operations

(in millions, except per share data)

Three months ended

June 30,

Six months ended

June 30,

2026

2025

2026

2025

Net sales

$ 1,692.3

$ 1,683.4

$ 3,273.7

$ 3,264.8

Cost of sales

1,155.3

1,129.3

2,236.0

2,175.8

Gross profit

537.0

554.1

1,037.7

1,089.0

Selling, general and administrative expenses

415.2

425.3

816.4

812.8

Operating income

121.8

128.8

221.3

276.2

Interest expense, net

(39.4)

(43.4)

(82.3)

(85.6)

Loss on extinguishment of debt

(0.6)

—

(1.2)

—

Other expense, net

(0.6)

(3.7)

(1.1)

(23.2)

Income before income taxes

81.2

81.7

136.7

167.4

Income tax expense

(43.1)

(17.0)

(55.3)

(38.2)

Net income

$ 38.1

$ 64.7

$ 81.4

$ 129.2

Earnings per share:

Basic

$ 0.06

$ 0.09

$ 0.12

$ 0.19

Diluted

$ 0.06

$ 0.09

$ 0.12

$ 0.19

Weighted average shares outstanding:

Basic

676.2

681.5

675.9

681.3

Diluted

677.2

681.8

676.9

682.0

Avantor, Inc. and subsidiaries

Unaudited condensed consolidated balance sheets

(in millions)

June 30, 2026

December 31, 2025

Assets

Current assets:

Cash and cash equivalents

$ 306.8

$ 365.4

Accounts receivable, net

1,138.9

1,074.6

Inventory

828.7

818.2

Other current assets

187.8

193.0

Total current assets

2,462.2

2,451.2

Property, plant and equipment, net

772.1

766.8

Other intangible assets, net

3,014.2

3,193.8

Goodwill, net

4,935.4

4,986.9

Other assets

412.0

396.0

Total assets

$ 11,595.9

$ 11,794.7

Liabilities and stockholders’ equity

Current liabilities:

Current portion of debt

$ 37.0

$ 30.8

Accounts payable

743.2

741.7

Employee-related liabilities

157.2

162.7

Accrued interest

46.2

47.3

Other current liabilities

398.4

396.4

Total current liabilities

1,382.0

1,378.9

Debt, net of current portion

3,660.8

3,915.5

Deferred income tax liabilities

539.9

557.1

Other liabilities

383.0

378.2

Total liabilities

5,965.7

6,229.7

Stockholders’ equity:

Common stock including paid-in capital

4,006.9

3,984.8

Treasury stock at cost

(75.7)

Accumulated earnings

1,754.2

1,672.8

Accumulated other comprehensive loss

(55.2)

(16.9)

Total stockholders’ equity

5,630.2

5,565.0

Total liabilities and stockholders’ equity

$ 11,595.9

$ 11,794.7

Avantor, Inc. and subsidiaries

Unaudited condensed consolidated statements of cash flows

(in millions)

Three months ended

June 30,

Six months ended

June 30,

2026

2025

2026

2025

Cash flows from operating activities:

Net income

$ 38.1

$ 64.7

$ 81.4

$ 129.2

Reconciling adjustments:

Depreciation and amortization

105.6

102.7

210.6

202.4

Stock-based compensation expense

15.4

15.5

24.0

27.9

Non-cash restructuring charges

5.0

—

5.0

—

Provision for accounts receivable and inventory

15.4

14.9

27.2

26.9

Deferred income tax expense (benefit)

16.3

(17.6)

6.1

(30.0)

Amortization of deferred financing costs

1.7

2.3

3.5

4.5

Loss on extinguishment of debt

0.6

—

1.2

—

Foreign currency remeasurement loss (gain)

0.5

1.9

(0.9)

3.8

Pension termination charges

—

18.1

Changes in assets and liabilities:

Accounts receivable

(39.9)

(12.5)

(80.7)

(55.7)

Inventory

(34.5)

(15.7)

(46.7)

(33.3)

Accounts payable

12.3

10.9

17.7

19.1

Accrued interest

14.6

10.7

(1.1)

1.4

Other assets and liabilities

25.4

(23.8)

(11.7)

(52.9)

Other

1.7

0.4

1.3

2.3

Net cash provided by operating activities

178.2

154.4

236.9

263.7

Cash flows from investing activities:

Capital expenditures

(37.6)

(29.6)

(71.1)

(57.6)

Other

0.3

1.0

1.1

0.1

Net cash used in investing activities

(37.3)

(28.6)

(70.0)

(57.5)

Cash flows from financing activities:

Debt repayments

(112.1)

(6.8)

(217.5)

(38.1)

Proceeds received from exercise of stock options

—

1.9

2.6

Shares repurchased to satisfy employee tax obligations for vested stock-based awards

(0.3)

(0.1)

(3.9)

(5.0)

Other

—

(0.1)

—

Net cash used in financing activities

(112.4)

(6.9)

(219.6)

(40.5)

Effect of currency rate changes on cash and cash equivalents

(1.0)

14.8

(5.9)

21.8

Net change in cash, cash equivalents and restricted cash

27.5

133.7

(58.6)

187.5

Cash, cash equivalents and restricted cash, beginning of period

282.2

318.5

368.3

264.7

Cash, cash equivalents and restricted cash, end of period

$ 309.7

$ 452.2

$ 309.7

$ 452.2

Avantor, Inc. and subsidiaries

Reconciliations of non-GAAP measures

Adjusted EBITDA and Adjusted EBITDA Margin

(dollars in millions, % based on net sales)

Three months ended June 30,

Six months ended June 30,

2026

2025

2026

2025

Net income

$ 38.1

2.3 %

$ 64.7

3.8 %

$ 81.4

2.5 %

$ 129.2

4.0 %

Amortization

75.9

4.5 %

75.5

4.5 %

151.6

4.6 %

149.4

4.6 %

Loss on extinguishment of debt

0.6

— %

—

— %

1.2

— %

—

— %

Restructuring, severance, and related impairment charges1

24.0

1.4 %

21.4

1.3 %

39.1

1.2 %

25.8

0.8 %

Transformation expenses2

—

— %

20.4

1.2 %

—

— %

35.8

1.1 %

Reserve for certain legal matters, net3

3.0

0.2 %

3.6

0.2 %

3.4

0.1 %

3.6

0.1 %

Other4

0.5

— %

6.6

0.4 %

0.4

— %

10.6

0.3 %

Pension termination charges5

—

— %

—

— %

—

— %

18.1

0.6 %

Income tax expense (benefit) applicable to pretax adjustments

1.2

0.1 %

(31.0)

(1.8) %

(19.8)

(0.5) %

(56.1)

(1.8) %

Adjusted net income

143.3

8.5 %

161.2

9.6 %

257.3

7.9 %

316.4

9.7 %

Interest expense, net

39.4

2.4 %

43.4

2.6 %

82.3

2.5 %

85.6

2.6 %

Depreciation

29.7

1.7 %

27.2

1.6 %

59.0

1.8 %

53.0

1.6 %

Income tax provision applicable to Adjusted net income

41.9

2.4 %

48.0

2.8 %

75.1

2.3 %

94.3

2.9 %

Adjusted EBITDA

$ 254.3

15.0 %

$ 279.8

16.6 %

$ 473.7

14.5 %

$ 549.3

16.8 %

__________________

Reflects charges incurred during the period related to restructuring initiatives to increase profitability and productivity. Costs included in this caption consist of employee severance, site-exit and contract termination costs, and non-cash impairment charges on long-lived assets associated with site exits.

Represents incremental expenses directly associated with the Company’s former cost transformation initiative, which concluded in 2025. These expenses are primarily related to the cost of external advisors.

Represents charges and legal costs, net of recoveries, incurred in connection with certain litigation and other contingencies that management evaluates separately from core operating performance.

Represents net foreign currency (gain) loss from financing activities, other stock-based compensation expense (benefit) and a purchase price adjustment in 2025 related to the sale of our Clinical Services business in 2024.

Represents pension termination charges related to termination of our U.S. Pension Plan.

Avantor, Inc. and subsidiaries

Reconciliations of non-GAAP measures (continued)

Adjusted Operating Income and Adjusted Operating Income Margin

(dollars in millions, % based on net sales)

Three months ended June 30,

Six months ended June 30,

2026

2025

2026

2025

Net income

$ 38.1

2.3 %

$ 64.7

3.8 %

$ 81.4

2.5 %

$ 129.2

4.0 %

Interest expense, net

39.4

2.4 %

43.4

2.6 %

82.3

2.5 %

85.6

2.6 %

Income tax expense

43.1

2.5 %

17.0

1.0 %

55.3

1.8 %

38.2

1.1 %

Loss on extinguishment of debt

0.6

— %

—

— %

1.2

— %

—

— %

Other expense, net

0.6

— %

3.7

0.3 %

1.1

— %

23.2

0.8 %

Operating income

121.8

7.2 %

128.8

7.7 %

221.3

6.8 %

276.2

8.5 %

Amortization

75.9

4.5 %

75.5

4.5 %

151.6

4.6 %

149.4

4.6 %

Restructuring, severance, and related impairment charges1

24.0

1.4 %

21.4

1.3 %

39.1

1.2 %

25.8

0.8 %

Transformation expenses2

—

— %

20.4

1.2 %

—

— %

35.8

1.1 %

Reserve for certain legal matters, net3

3.0

0.2 %

3.6

0.2 %

3.4

0.1 %

3.6

0.1 %

Other4

0.4

— %

2.5

0.1 %

0.3

— %

4.2

0.1 %

Adjusted Operating Income

$ 225.1

13.3 %

$ 252.2

15.0 %

$ 415.7

12.7 %

$ 495.0

15.2 %

___________________

Represents charges and legal costs, net of recoveries, incurred in connection with certain litigation and other contingencies that management evaluates separately from core operating performance.

Represents other stock-based compensation expense (benefit) and a purchase price adjustment in 2025 related to the sale of our Clinical Services business in 2024.

Avantor, Inc. and subsidiaries

Reconciliations of non-GAAP measures (continued)

Adjusted earnings per share

(shares in millions)

Three months ended June 30,

Six months ended June 30,

2026

2025

2026

2025

Diluted earnings per share (GAAP)

$ 0.06

$ 0.09

$ 0.12

$ 0.19

Amortization

0.11

0.22

Restructuring, severance, and related impairment charges

0.04

0.03

0.06

0.04

Transformation expenses

—

0.03

—

0.04

Reserve for certain legal matters, net

—

0.01

Other

—

0.02

—

0.01

Pension termination charges

—

0.03

Income tax benefit applicable to pretax adjustments

—

(0.05)

(0.03)

(0.08)

Adjusted EPS (non-GAAP)

$ 0.21

$ 0.24

$ 0.38

$ 0.46

Weighted average diluted shares outstanding:

Share count for Adjusted EPS (non-GAAP)

677.2

681.8

676.9

682.0

Free cash flow

(in millions)

Three months ended June 30,

Six months ended June 30,

2026

2025

2026

2025

Net cash provided by operating activities

$ 178.2

$ 154.4

$ 236.9

$ 263.7

Capital expenditures

(37.6)

(29.6)

(71.1)

(57.6)

Divestiture-related transaction expenses and taxes paid

2.2

0.6

2.2

1.4

Free cash flow (non-GAAP)

$ 142.8

$ 125.4

$ 168.0

$ 207.5

GAAP net leverage

(dollars in millions)

June 30, 2026

Total debt, gross

$ 3,715.4

Less cash and cash equivalents

(306.8)

$ 3,408.6

Trailing twelve months net loss

$ (578.0)

GAAP net leverage

(5.9) x

Adjusted net leverage

(dollars in millions)

June 30, 2026

Total debt, gross

$ 3,715.4

Less cash and cash equivalents

(306.8)

$ 3,408.6

Trailing twelve months Adjusted EBITDA

$ 993.8

Trailing twelve months ongoing stock-based compensation expense

43.0

$ 1,036.8

Adjusted net leverage (non-GAAP)

3.3 x

Avantor, Inc. and subsidiaries

Reconciliations of non-GAAP measures (continued)

Net sales by segment

(in millions)

June 30,

Reconciliation of net sales growth

(decline) to organic net sales growth

(decline)

Net sales

growth

(decline)

Foreign

currency

impact

Organic

net sales

growth

(decline)

2026

2025

Three months ended:

Bioscience & Medtech Products

$ 451.8

$ 475.9

$ (24.1)

$ 2.7

$ (26.8)

VWR Distribution & Services

1,240.5

1,207.5

33.0

13.0

20.0

Total

$ 1,692.3

$ 1,683.4

$ 8.9

$ 15.7

$ (6.8)

Six months ended:

Bioscience & Medtech Products

$ 883.2

$ 902.3

$ (19.1)

$ 16.3

$ (35.4)

VWR Distribution & Services

2,390.5

2,362.5

28.0

63.7

(35.7)

Total

$ 3,273.7

$ 3,264.8

$ 8.9

$ 80.0

$ (71.1)

(dollars in millions, % based on net sales)

June 30,

Reconciliation of net sales growth

(decline) to organic net sales growth

(decline)

Net sales

growth

(decline)

Foreign

currency

impact

Organic

net sales

growth

(decline)

2026

2025

Three months ended:

Bioscience & Medtech Products

$ 451.8

$ 475.9

(5.1) %

0.5 %

(5.6) %

VWR Distribution & Services

1,240.5

1,207.5

2.7 %

1.0 %

1.7 %

Total

$ 1,692.3

$ 1,683.4

0.5 %

0.9 %

(0.4) %

Six months ended:

Bioscience & Medtech Products

$ 883.2

$ 902.3

(2.1) %

1.8 %

(3.9) %

VWR Distribution & Services

2,390.5

2,362.5

1.2 %

2.7 %

(1.5) %

Total

$ 3,273.7

$ 3,264.8

0.3 %

2.5 %

(2.2) %

Adjusted Operating Income by segment

(dollars in millions, %

represent Adjusted

Operating Income margin)

Three months ended June 30,

Six months ended June 30,

2026

2025

2026

2025

Bioscience & Medtech Products

$ 117.6

26.0 %

$ 131.4

27.6 %

$ 220.3

24.9 %

$ 245.9

27.3 %

VWR Distribution & Services

126.4

10.2 %

141.6

11.7 %

231.8

9.7 %

289.5

12.3 %

Corporate

(18.9)

— %

(20.8)

— %

(36.4)

— %

(40.4)

— %

Total

$ 225.1

13.3 %

$ 252.2

15.0 %

$ 415.7

12.7 %

$ 495.0

15.2 %

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SOURCE Avantor and Financial News

Technology

Cogent Communications CEO to Present at Three Upcoming Conferences

Published

55 minutes ago

July 29, 2026

WASHINGTON, July 29, 2026 /PRNewswire/ — Cogent Communications Holdings, Inc.(“Cogent”) (NASDAQ: CCOI), one of the largest Internet service providers in the world, today announced that Dave Schaeffer, Cogent’s Chief Executive Officer, will present at the following conferences:

The KeyBanc Technology Leadership Forum is being held at The Montage in Deer Valley, UT. Dave Schaeffer will be presenting on Monday, August 10th at 11:30 a.m. MT.

The TD Cowen 12th Annual Communications Infrastructure Summit is being held at the St. Julien Hotel & Spa in Boulder, CO. Dave Schaeffer will be presenting on Tuesday, August 11th at 3:45 p.m. MT.

The Oppenheimer 29th Annual Technology, Internet & Communications Conference is being held virtually. Dave Schaeffer will be presenting on Wednesday, August 12th at 11:35 a.m. ET.

Investors and other interested parties may access live audio webcasts of the conference presentations by going to the “Events” section of Cogent’s website at www.cogentco.com/events. Replays of the webcasts will be available for 90 days following the presentations.

About Cogent

Cogent Communications (NASDAQ: CCOI) is a multinational, Tier 1 facilities-based ISP. Cogent specializes in providing businesses with high-speed Internet access, Ethernet transport, and colocation services. Cogent’s facilities-based, all-optical IP network backbone provides services in 306 markets globally.

Cogent is headquartered at 2450 N Street, NW, Washington, D.C. 20037. For more information, visit www.cogentco.com. Cogent can be reached in the United States at (202) 295-4200 or via email at info@cogentco.com.

Information in this release may involve expectations, beliefs, plans, intentions or strategies regarding the future. These forward-looking statements involve risks and uncertainties. All forward-looking statements included in this release are based upon information available to Cogent Communications Holdings, Inc. as of the date of the release, and we assume no obligation to update any such forward-looking statement. The statements in this release are not guarantees of future performance and actual results could differ materially from our current expectations. Numerous factors could cause or contribute to such differences. Some of the factors and risks associated with our business are discussed in Cogent’s registration statements filed with the Securities and Exchange Commission and in its other reports filed from time to time with the SEC.

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SOURCE Cogent Communications Holdings, Inc.

Technology

75% of Small Business Owners Tapped Personal Credit for Business Expenses, Bluevine Study Finds

Published

55 minutes ago

July 29, 2026

New national survey reveals lack of loan preparation puts personal financial health at risk, contributing to delays or denials for 1 in 4 applicants.

JERSEY CITY, N.J., July 29, 2026 /PRNewswire/ — A new national survey published today by Bluevine—the largest digital banking platform for small businesses in the U.S.*—reveals that small business financing challenges are often driven by a gap in preparation and financial literacy rather than a lack of available capital. According to the study of more than 800 U.S. small business owners, 25% of their recent business financing applications were delayed or denied due to avoidable application mistakes, driving many founders to compromise their personal financial health.

The findings highlight a critical disconnect: While roughly two-thirds (65%) of SMB owners applied for a business line of credit or term loan in the past 12 months, the vast majority skipped fundamental preparation steps. A striking 73% of respondents admitted they did not research lender approval requirements beforehand, 72% failed to update their financial statements, and 56% did not check their business credit score before hitting submit.

These preparation gaps frequently force owners to rely on personal financing to keep operations afloat, with 75% of small business owners self-reporting that they used personal credit cards or personal loans for business expenses over the last year. This marks a massive jump from Bluevine’s 2025 data, where 49% of owners reported using a personal card to cover business expenses.

“Using personal credit cards for business expenses can create risk beyond utilization,” said Aditya Narula, Senior VP & GM of Lending & Credit at Bluevine. “It can blur personal and business finances, limit the owner’s ability to build business credit, and make tax or cash-flow tracking harder. Over time, it may constrain personal borrowing capacity for a mortgage, car loan, or emergency needs. A stronger application starts before the application itself.”

Additional Key Findings

The Early-Stage Vulnerability: Business owners whose companies are five years old or younger struggle the most with the process. Over half (54%) experienced issues with their most recent application, compared to just 24% of established businesses (six years or older). Furthermore, 44% of newer owners rely on personal credit cards, and 20% utilize personal loans for business needs.The Personal Toll of Mixed Finances: Relying on personal credit is actively harming small business owners’ private lives. Of the 41% of owners who currently use personal credit cards for business expenses, more than 4 in 5 (42%) say it has negatively affected their personal finances, including increasing personal credit utilization (23%), creating household stress or conflict (16%), and lowering personal credit scores (12%).Application Surprises: Among the 37% of SMB owners who ran into roadblocks during their most recent application, 12% were caught off guard by how long processing took, 11% discovered their credit score was lower than expected, and 8% applied without understanding lender requirements.Financing Alleviates Stress: Access to proper business financing remains vital to operational health. Sixty-eight percent (68%) of small business owners state that having a dedicated business line of credit or term loan significantly reduces their stress about covering upcoming expenses or emergencies.

“A prepared application can materially speed up the process because it reduces back-and-forth,” Narula added. “Current P&Ls, recent bank statements, accurate business information, and a clean credit profile help lenders verify your business faster. The biggest unlock is consistency: when documents, revenue, ownership, and credit history tell the same story, decisions move faster.”

For a deeper dive into real-world credit behavior and advice on navigating the application process, read the full findings here.

Methodology

The survey was conducted online by Centiment for Bluevine between May 12, 2026, and May 13, 2026. The results are based on 864 completed surveys from U.S. adults aged 18 and older who were verified as small business owners. The data is unweighted, and the margin of error is approximately ±3% for the overall sample with a 97% confidence level.

* As compared to publicly available data on the number of lifetime customer accounts held by other U.S. banking platforms dedicated to small businesses that offer both checking and lending services, as of June 2026.

About Bluevine

Bluevine is the largest small business banking platform in the U.S., serving as the financial operating system for startups and small businesses. Through a single account, companies can earn more, save more, borrow, and manage their money whenever and wherever they do business – without ever stepping into a branch. Accessible through one dashboard, its product suite integrates high-yield business checking, accounts payable, debit and credit cards, loans, and lines of credit. Since 2013, Bluevine has served over 1 million customers, delivered over $17 billion in loans, and is currently trusted with over $2 billion in managed customer deposits. Bluevine has been named as the Best Online BusinessChecking Account by Nerdwallet for 2026 and recognized as one of CNBC’s World’s Top Fintech Companies in 2026.

Bluevine is backed by leading private and institutional investors, including Lightspeed Venture Partners, Menlo Ventures, 83North, Citi Ventures, ION Crossover Partners, SVB Capital, Nationwide, and M12 (Microsoft’s Venture Arm). Bluevine is a financial technology company, not a bank. Banking Services provided by Coastal Community Bank, Member FDIC. Lines of credit are issued by Celtic Bank. For more information, please visit bluevine.com or follow us on LinkedIn, Instagram, Facebook, and X.

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SOURCE Bluevine

Technology

Ticketbud Expands Credentialing Capabilities for Large, Complex Events

Published

55 minutes ago

July 29, 2026

AUSTIN, Texas, July 29, 2026 /PRNewswire/ — Ticketbud expanded its event ticketing and credentialing capabilities to include credential printing, access control, and on-site badge services, helping large and complex events manage attendee, staff, vendor, and VIP access with greater flexibility, speed, and control.

Ticketbud expands its credential services to include credential printing, access control, and on-site badge services.

After launching and field-testing its new tools at highly attended, high profile events over the last year, Ticketbud has refined its credentialing and ticketing system to better support organizers who need more than standard ticket types. The enhanced credentialing solution allows event teams to manage tickets, credentials, access levels, intake forms, approvals, badge printing, wristbands, and on-site support through one streamlined platform.

“Every event is different, and we needed to build out a robust and customizable system for supporting the many different needs of our growing client base,” said Kayhan Ahmadi, CEO of Ticketbud. “For large, complex events, we’ve added the ability to allow event organizers to take in attendee data to set up access control for all kinds of guests, like notable guests, staff, sponsors, talent and even vendors and production staff. We can print these credentials in advance or even on demand and on site, matching our clients’ needs for flexibility and responsiveness.”

Credentialing can quickly become one of the most complicated parts of event operations, especially for organizers managing large-scale festivals, conferences, venues, sponsor activations and VIP areas across client and production teams, vendors, media, and talent. Ticketbud’s approach brings those moving pieces together, eliminating the need for multiple platforms and third-party services.

With Ticketbud, organizers have the ability to manage both ticket-level access and credential-level access in one place. Credential access can be applied across tickets, badges, and wristbands, equipping the system for the realities of high-volume event operations across multiple venues, access zones, rotating staff, sponsor activations, and tiered VIP experiences.

“The majority of large events use a ticketing software solution for selling tickets to their audience and a completely separate service for staff, security and production credentials at the event. This means that often ticket scanning and credential scanning never talk to each other.” Ahmadi said. “Most frequently, simple generic credentials are printed en masse in advance and are not assigned to a specific individual. We wanted to give event organizers a better solution: Credentials and ticketing as an integration solution.”

Ticketbud’s credentialing solution also supports customized intake and approval workflows. Organizers can create credential-specific intake forms using Ticketbud’s existing platform to collect names, photos, company information, role type, venue assignment, or other custom fields, and export submissions for review.

Client-side reviewers then approve or deny requests before credentials are printed and distributed, helping event teams maintain tighter control over who receives access to sensitive or restricted areas.

As part of its expanded event services, Ticketbud supports the physical side of credentialing, assisting with wristband ordering and credential printing and production logistics — both in-house or on-site. This gives organizers a more complete, white-glove solution than currently exists in the marketplace.

The credentialing expansion is part of Ticketbud’s broader commitment to providing all-in-one event technology and hands-on support for organizers managing events of every size, from community gatherings to large-scale productions.

About Ticketbud:

Ticketbud is the event organizers ticketing platform, user-friendly for first time organizers, powerful and flexible for large festivals and events. Access all features and ongoing customer support, with complete reporting and data ownership. With early payouts and the flexibility to customize, event organizers worldwide trust Ticketbud. Get a ticketing buddy you can rely on.

Ticketbud and Ticketbud LLC are registered trademarks of Ideabud LLC, in the United States and other countries. All other trademarks and copyrights are the property of their respective owners.

Contact:

Kayhan Ahmadi

Email: press@ticketbud.com

512-696-4658

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SOURCE Ticketbud