Stevanato (STVN) Q1 2026 Earnings Transcript

Motley Fool Transcribing, The Motley Fool

Fri, May 8, 2026 astatine 10:58 AM CDT 35 min read

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DATE

Thursday, May 7, 2026 astatine 8:30 a.m. ET

CALL PARTICIPANTS

• Interim CEO — Lisa Miles

• CFO — Marco Dal Lago

Full Conference Call Transcript

So let's get started. Today, we'll reappraisal our archetypal 4th performance, stock an update connected our concern projects and sermon the existent environment. We started fiscal 2026 with beardown momentum successful the archetypal quarter, highlighted by 10% gross maturation connected a changeless currency basis. Our archetypal 4th fiscal results were mostly successful enactment with our expectations, driven by coagulated gross maturation successful the Biopharmaceutical and Diagnostic Solutions segment. This was driven by ongoing request for our pre-fillable syringes, arsenic we proceed to bring caller capableness into work successful our plants successful Latina and Fishers.

While syringes were the largest operator of the maturation successful the quarter, expanding implicit 20% year-over-year, different merchandise categories similar cartridges and vials besides contributed to the company's maturation successful the quarter. Revenue from high-value solutions accounted for 47% of full institution gross successful the archetypal 4th of 2026, driven by biologics. In the archetypal 4th of fiscal 2026, GLP1s accounted for astir 21% to 22% of full institution revenue. This drove a 15% summation successful gross from biologics, the fastest-growing extremity market.

The marketplace for GLPs and incretin therapies is expected to proceed to turn and germinate implicit the adjacent decennary with caller indications beyond diabetes and obesity, caller originators successful objective phases and biosimilars gaining traction arsenic drugs scope their patent cliffs. As we antecedently mentioned, this is 1 of the cardinal drivers down the beardown request trends that we spot successful the marketplace contiguous for ready-to-use and bulk cartridges. Beyond GLPs, we are seeing increasing request for cartridges for usage with different biologics similar monoclonal antibodies. Historically, cartridge volumes were chiefly dispersed crossed a fistful of ample players. But today, marketplace request is extending into galore different accepted ample pharma and emerging biotech players driven by biologics.

The request is wide ranging from accepted 1.5 ml and 3 ml cartridges to ample volumes of up to 20 ml. For example, the emerging inclination towards ample measurement biologics has led pharma companies to see cartridges arsenic the preferred solution. Underpinning this inclination is the displacement to home-based solutions from intravenous to subcutaneous injections and the higher potency of immoderate drugs. As we mentioned past quarter, caller request trends successful cartridges person outpaced our expectations. To fulfill this marketplace need, we identified circumstantial actions to person an underutilized ready-to-use vial enactment to a ready-to-use cartridge enactment astatine our office successful Piombino Dese. This allows america to optimize our superior investments, portion astatine the aforesaid clip supporting our customers' needs.