Record-Breaking Revenue and Growth
Champions Oncology had a record-breaking quarter with total revenue surpassing $17 million and adjusted EBITDA hitting a record high. Research service revenue was $12.5 million, an increase from $12 million in the same period last year. The company reported adjusted EBITDA of $5.2 million compared to an adjusted loss of $1.7 million in the prior year.
Successful Data Licensing Agreement
Champions Oncology successfully completed its first data licensing deal, marking the initial validation of its strategic vision to create a transformative data business. Data revenue contribution was $4.5 million, showcasing early traction of the new platform.
Improved Financial Metrics
On a GAAP basis, income from operations was $4.5 million compared to a loss of $2.6 million in the prior year. Total gross margin improved to 53% compared to 40% in the same period last year. Research service margins also improved to 48% compared to 35% in the same period last year.
Strong Cash Position
Champions Oncology ended the quarter with $3.2 million of cash on the balance sheet and no debt. Cash generated by operating activities was $900,000.