BioNTech SE (NASDAQ:BNTX) reported fourth-quarter results on Tuesday that fell short of earnings expectations despite revenue coming in above forecasts.
Shares of the company dropped 19.68% in pre-market trading following the announcement.
The German biotechnology company posted an adjusted loss of -$0.33 per share for the quarter, missing the analyst consensus estimate of -$0.19.
Revenue totaled €907.4 million ($907.2 million), beating the analyst forecast of $758.8 million, but declined 24% year over year from €1,190.0 million recorded in the fourth quarter of 2024.
The drop in revenue was mainly attributed to weaker COVID-19 vaccine sales as demand for the product continued to decline.
For the full year 2025, BioNTech reported revenue of €2.9 billion, up 4% from €2.8 billion in 2024. However, the company posted an adjusted net loss of €117.1 million (-$0.48 per share), compared with an adjusted net profit of €121.7 million ($0.50 per share) in the prior year.
“2025 was a year of strong execution and pipeline momentum, marked by substantial progress in delivering on our strategy,” said Prof. Ugur Sahin, Chief Executive Officer and Co-Founder of BioNTech.
Looking ahead to 2026, the company expects total revenue between €2.0 billion and €2.3 billion. The midpoint of €2.15 billion reflects continued pressure from declining COVID-19 vaccine demand.
BioNTech also forecasts adjusted research and development expenses of €2.2 billion to €2.5 billion and adjusted selling, general and administrative expenses between €700 million and €800 million.
The company also announced that its co-founders, Ugur Sahin and Özlem Türeci, plan to establish a new independent company focused on next-generation mRNA technologies, with both expected to transition to the venture by the end of 2026.
BioNTech said it maintains a strong financial position, with €17.2 billion in cash, cash equivalents and security investments as of December 31, 2025.