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We're Not Very Worried About Aura Biosciences' (NASDAQ:AURA) Cash Burn Rate
We're Not Very Worried About Aura Biosciences' (NASDAQ:AURA) Cash Burn Rate
Even when a business is losing money, it's possible for shareholders to make money if they buy a good business at the right price. For example, although Amazon.com made losses for many years after listing, if you had bought and held the shares since 1999, you would have made a fortune. Nonetheless, only a fool would ignore the risk that a loss making company burns through its cash too quickly.
So should Aura Biosciences (NASDAQ:AURA) shareholders be worried about its cash burn? In this report, we will consider the company's annual negative free cash flow, henceforth referring to it as the 'cash burn'. Let's start with an examination of the business' cash, relative to its cash burn.
See our latest analysis for Aura Biosciences
Does Aura Biosciences Have A Long Cash Runway?
You can calculate a company's cash runway by dividing the amount of cash it has by the rate at which it is spending that cash. In September 2022, Aura Biosciences had US$112m in cash, and was debt-free. Importantly, its cash burn was US$50m over the trailing twelve months. Therefore, from September 2022 it had 2.2 years of cash runway. That's decent, giving the company a couple years to develop its business. Depicted below, you can see how its cash holdings have changed over time.
NasdaqGM:AURA Debt to Equity History December 5th 2022How Is Aura Biosciences' Cash Burn Changing Over Time?
Aura Biosciences didn't record any revenue over the last year, indicating that it's an early stage company still developing its business. So while we can't look to sales to understand growth, we can look at how the cash burn is changing to understand how expenditure is trending over time. Over the last year its cash burn actually increased by a very significant 97%. Oftentimes, increased cash burn simply means a company is accelerating its business development, but one should always be mindful that this causes the cash runway to shrink. Clearly, however, the crucial factor is whether the company will grow its business going forward. For that reason, it makes a lot of sense to take a look at our analyst forecasts for the company.
How Hard Would It Be For Aura Biosciences To Raise More Cash For Growth?
Given its cash burn trajectory, Aura Biosciences shareholders may wish to consider how easily it could raise more cash, despite its solid cash runway. Companies can raise capital through either debt or equity. One of the main advantages held by publicly listed companies is that they can sell shares to investors to raise cash and fund growth. We can compare a company's cash burn to its market capitalisation to get a sense for how many new shares a company would have to issue to fund one year's operations.
Since it has a market capitalisation of US$473m, Aura Biosciences' US$50m in cash burn equates to about 11% of its market value. Given that situation, it's fair to say the company wouldn't have much trouble raising more cash for growth, but shareholders would be somewhat diluted.
Is Aura Biosciences' Cash Burn A Worry?
Even though its increasing cash burn makes us a little nervous, we are compelled to mention that we thought Aura Biosciences' cash runway was relatively promising. Cash burning companies are always on the riskier side of things, but after considering all of the factors discussed in this short piece, we're not too worried about its rate of cash burn. Separately, we looked at different risks affecting the company and spotted 5 warning signs for Aura Biosciences (of which 2 are a bit concerning!) you should know about.
Of course Aura Biosciences may not be the best stock to buy. So you may wish to see this free collection of companies boasting high return on equity, or this list of stocks that insiders are buying.
Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team (at) simplywallst.com.
This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.
即使一家企业在亏损,如果股东以合适的价格收购一家好企业,他们也有可能赚钱。例如,虽然亚马逊上市后多年亏损,但如果你从1999年开始买入并持有股票,你就会发大财。尽管如此,只有傻瓜才会忽视这样一个风险,即一家亏损的公司太快地烧掉了现金。
所以也应该这样奥拉生物科学(纳斯达克:灵气)股东担心其烧钱?在这份报告中,我们将考虑该公司的年度自由现金流为负,此后将其称为“现金消耗”。让我们从检查企业的现金与其现金消耗的关系开始。
查看我们对Aura Biosciences的最新分析
奥拉生物科学公司有很长的现金跑道吗?
你可以通过将公司拥有的现金数量除以它花掉这些现金的速度来计算公司的现金跑道。2022年9月,Aura Biosciences拥有1.12亿美元现金,而且没有债务。重要的是,在接下来的12个月里,它的现金消耗达到了5000万美元。因此,从2022年9月开始,它有了2.2年的现金跑道。这很不错,给了公司几年的时间来发展业务。如下所示,你可以看到它的现金持有量是如何随着时间的推移而变化的。
NasdaqGM:AURA债转股历史2022年12月5日Aura Biosciences的烧钱是如何随着时间的推移而变化的?
奥拉生物科学公司去年没有记录任何收入,这表明它是一家仍在发展业务的早期公司。因此,虽然我们不能通过销售来理解增长,但我们可以看看现金消耗是如何变化的,以了解支出随着时间的推移是如何趋势的。在过去的一年里,它的现金消耗实际上增加了非常显著的97%。通常情况下,现金消耗的增加只是意味着一家公司正在加快其业务发展,但人们应该始终记住,这会导致现金跑道缩小。然而,显然,关键因素是该公司是否会在未来实现业务增长。因此,看看我们的分析师对该公司的预测是很有意义的。
奥拉生物科学公司筹集更多现金以实现增长的难度有多大?
考虑到它的现金消耗轨迹,Aura Biosciences的股东可能希望考虑一下,尽管它有坚实的现金跑道,但它筹集更多现金的难度有多大。公司可以通过债务或股权筹集资金。公开上市公司的主要优势之一是,它们可以向投资者出售股票,以筹集现金和为增长提供资金。我们可以将一家公司的现金消耗与其市值进行比较,以了解一家公司需要发行多少新股才能为一年的运营提供资金。
由于其市值为4.73亿美元,Aura Biosciences的5000万美元现金消耗相当于其市值的约11%。在这种情况下,公平地说,该公司将不会有太多困难筹集更多现金来实现增长,但股东的股份将被稀释。
奥拉生物科学公司的烧钱是一个令人担忧的问题吗?
尽管它日益增长的现金消耗让我们有点紧张,但我们不得不提到,我们认为奥拉生物科学公司的现金跑道相对来说是有希望的。烧钱公司总是风险较高的一方,但在考虑了这篇短文中讨论的所有因素后,我们并不太担心它的烧钱速度。另外,我们研究了影响公司的不同风险,并发现了灵气生物科学的5个警告信号(其中两个有点令人担忧!)你应该知道。
当然了奥拉生物科学公司可能不是最值得买入的股票。所以你可能想看看这个免费拥有高股本回报率的公司的集合,或内部人士正在购买的这份股票清单。
对这篇文章有什么反馈吗?担心内容吗? 保持联系直接与我们联系。或者,也可以给编辑组发电子邮件,地址是implywallst.com。
本文由Simply Wall St.撰写,具有概括性。我们仅使用不偏不倚的方法提供基于历史数据和分析师预测的评论,我们的文章并不打算作为财务建议。它不构成买卖任何股票的建议,也没有考虑你的目标或你的财务状况。我们的目标是为您带来由基本面数据驱动的长期重点分析。请注意,我们的分析可能不会将最新的对价格敏感的公司公告或定性材料考虑在内。Simply Wall St.对上述任何一只股票都没有持仓。
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moomoo是Moomoo Technologies Inc.公司提供的金融信息和交易应用程序。
在美国,moomoo上的投资产品和服务由Moomoo Financial Inc.提供,一家受美国证券交易委员会(SEC)监管的持牌主体。 Moomoo Financial Inc.是金融业监管局(FINRA)和证券投资者保护公司(SIPC)的成员。
在新加坡,moomoo上的投资产品和服务是通过Moomoo Financial Singapore Pte. Ltd.提供,该公司受新加坡金融管理局(MAS)监管(牌照号码︰CMS101000) ,持有资本市场服务牌照 (CMS) ,持有财务顾问豁免(Exempt Financial Adviser)资质。本内容未经新加坡金融管理局的审查。
在澳大利亚,moomoo上的金融产品和服务是通过Futu Securities (Australia) Ltd提供,该公司是受澳大利亚证券和投资委员会(ASIC)监管的澳大利亚金融服务许可机构(AFSL No. 224663)。请阅读并理解我们的《金融服务指南》、《条款与条件》、《隐私政策》和其他披露文件,这些文件可在我们的网站 https://www.moomoo.com/au中获取。
在加拿大,通过moomoo应用提供的仅限订单执行的券商服务由Moomoo Financial Canada Inc.提供,并受加拿大投资监管机构(CIRO)监管。
在马来西亚,moomoo上的投资产品和服务是通过Moomoo Securities Malaysia Sdn. Bhd. 提供,该公司受马来西亚证券监督委员会(SC)监管(牌照号码︰eCMSL/A0397/2024) ,持有资本市场服务牌照 (CMSL) 。本内容未经马来西亚证券监督委员会的审查。
Moomoo Technologies Inc., Moomoo Financial Inc., Moomoo Financial Singapore Pte. Ltd., Futu Securities (Australia) Ltd, Moomoo Financial Canada Inc.,和Moomoo Securities Malaysia Sdn. Bhd.是关联公司。
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