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Lifecore Biomedical (LFCR)
NASDAQ:LFCR
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Earnings Data
Report Date
Jan 02, 2025After Close Not Confirmed
Period Ending
2025 (Q2)Consensus EPS Forecast
-$0.29Last Year’s EPS
$0.39Same Quarter Last Year
Moderate Buy
Based on 3 Analysts Ratings
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Earnings Call Summary
Earnings Call Date:Oct 04, 2024
|% Change Since: 53.88%
|Next Earnings Date:Jan 02, 2025
Earnings Call Sentiment|Neutral
The earnings call presented a mix of achievements and challenges. While Lifecore successfully streamlined operations, increased gross profit, and closed significant business deals, the company faced increased net losses, higher operating costs, and a decline in CDMO revenues. However, positive developments, such as the installation of a new isolator filler and successful capital raising, indicate potential for long-term growth.Company Guidance
During Lifecore's Q1 2025 earnings call, management reaffirmed their guidance for the fiscal year, projecting revenues between $126.5 million and $130 million and adjusted EBITDA margins targeted to align with top peers in the injectable CDMO sector. The company reported first-quarter revenues of $24.7 million, a slight increase from $24.5 million in the prior year, driven by a $1.5 million rise in HA manufacturing revenues. However, this was partially offset by a $1.3 million decrease in CDMO revenues due to inventory adjustments by a major customer. Gross profit doubled to $5.4 million, attributed to a favorable sales mix and price increases, while SG&A expenses rose to $14.8 million, largely due to higher professional fees and stock-based compensation. Despite a net loss of $16.2 million, Lifecore successfully closed a $24.3 million PIPE offering, which, along with cost-saving measures, aims to address near-term liquidity needs and support future growth without further capital raises. The company also announced compliance with Nasdaq listing requirements and highlighted operational advancements, including a GMP-ready high-speed isolator filler, which enhances their capacity to $300 million annually, and new business wins, including agreements with Lindy Biosciences and three other companies.Successful Streamlining and Growth Initiatives
Lifecore streamlined operations, added new leaders, signed new customers, regained Nasdaq compliance, and raised funds successfully.
Increase in Gross Profit
Gross profit for the quarter was $5.4 million, an increase of $2.7 million from the comparable period in 2023, due to a favorable sales mix and price increases.
New High-Speed Isolator Filler Installation
Completed installation and qualification of a new high-speed, multipurpose 5-head isolator filler, doubling prior capacity and increasing maximum revenue-generating capacity to $300 million annually.
Business Development Success
Signed agreements with 4 new customers, including Lindy Biosciences, and continued to expand projects with existing customers, managing a development portfolio of 25 programs.
Successful Closing of PIPE Offering
Announced the closing of a $24.3 million PIPE offering, indicating strong shareholder support and addressing near-term liquidity needs.
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LFCR 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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LFCR Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
| Oct 04, 2024 | $4.70 | $5.38 | +14.47% |
| Aug 26, 2024 | $6.34 | $4.74 | -25.24% |
| Apr 02, 2024 | $5.79 | $5.52 | -4.66% |
| Jan 03, 2024 | $6.38 | $6.35 | -0.47% |
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 Lifecore Biomedical (LFCR) report earnings?
Lifecore Biomedical (LFCR) is schdueled to report earning on Jan 02, 2025, After Close Not Confirmed.
What is Lifecore Biomedical (LFCR) earnings time?
Lifecore Biomedical (LFCR) earnings time is at Jan 02, 2025, After Close 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 LFCR EPS forecast?
LFCR EPS forecast for the fiscal quarter 2025 (Q2) is -$0.29.
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