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Avid Bioservices (CDMO)
NASDAQ:CDMO
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Earnings Data
Report Date
Mar 17, 2025TBA Not Confirmed
Period Ending
2025 (Q3)Consensus EPS Forecast
-$0.06Last Year’s EPS
-$0.09Same Quarter Last Year
Based on 3 Analysts Ratings
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Earnings Call Summary
Earnings Call Date:Dec 10, 2024
|% Change Since: -0.08%
|Next Earnings Date:Mar 17, 2025
Earnings Call Sentiment|Neutral
The earnings call presented a mix of positive developments, such as revenue growth, improved gross margin, and a record backlog, alongside challenges like increased net loss and higher SG&A expenses. The company's strategic efforts in business development are yielding results, yet challenges in specific segments like cell and gene therapy remain. Overall, the highlights and lowlights seem balanced.Company Guidance
During the Avid Bioservices Q1 2025 earnings call, several key financial metrics and business developments were highlighted. The company reported a 6% increase in revenues, reaching $40.2 million compared to $37.7 million in the same period last year. Gross profit improved to $5.7 million, with a gross margin of 14%, up from 11% in the prior year. SG&A expenses rose by 30% to $8.2 million, primarily due to increased compensation and consulting fees. The net loss for the quarter was $5.5 million, or $0.09 per share, compared to a $2.1 million loss in the previous year. Adjusted EBITDA came in at $3 million, and the company ended with $33.4 million in cash. Notably, Avid signed $66 million in new project agreements, contributing to a record $219 million backlog, reflecting strong growth in both new customer acquisitions and a mix of early and late-stage programs.Revenue Growth
Revenues for the first quarter of fiscal 2025 were $40.2 million, representing a 6% increase compared to the same period in the prior year.
Improved Gross Margin
Gross margin improved from 11% in Q1 fiscal 2024 to 14% in Q1 fiscal 2025.
Record Backlog
The company ended the quarter with a backlog of $219 million, a record high for the company.
Significant New Business Signings
Signed $66 million in new project agreements, the highest since the third quarter of fiscal 2023.
Diverse Customer Base
A significant majority of new signings are projects with new customers, including a large pharma client, enhancing the company's customer diversity.
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CDMO Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed
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CDMO Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
| Dec 10, 2024 | $12.31 | $12.23 | -0.65% |
| Sep 09, 2024 | $8.95 | $10.49 | +17.21% |
| Jul 02, 2024 | $6.70 | $7.70 | +14.93% |
| Apr 24, 2024 | $6.83 | $7.32 | +7.17% |
Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.
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FAQ
When does Avid Bioservices (CDMO) report earnings?
Avid Bioservices (CDMO) is schdueled to report earning on Mar 17, 2025, TBA Not Confirmed.
What is Avid Bioservices (CDMO) earnings time?
Avid Bioservices (CDMO) earnings time is at Mar 17, 2025, TBA Not Confirmed.
Where can I see when companies are reporting earnings?
You can see which companies are reporting today on our designated earnings calendar.
What companies are reporting earnings today?
You can see a list of the companies which are reporting today on TipRanks earnings calendar.
What is CDMO EPS forecast?
CDMO EPS forecast for the fiscal quarter 2025 (Q3) is -$0.06.
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