The following is a summary of the Champions Oncology, Inc. (CSBR) Q3 2024 Earnings Call Transcript:
Financial Performance:
Champions Oncology reported Q3 revenue of $12 million, a 6% decline compared to the same period last year. This decline is primarily due to challenging conditions in the biotech sector.
The company's GAAP loss for the quarter was approximately $2.6 million, slightly higher than $2.5 million loss in Q3 2023.
Adjusted EBITDA loss for the quarter was around $1.7 million, compared to $1.6 million in the same period last year.
Gross margin declined to 35% in Q3, against 41% in the previous year due to rising costs.
The company ended the quarter with cash reserves of $4.5 million and no debt.
Business Progress:
Revenue performance for the quarter showed a sequential increase of 4%, a sign of recovery from previous losses.
Champions Oncology anticipates increasing gross margins in the coming quarters following operational improvements to reduce costs.
R&D expenses decreased to $2.2 million compared to $3.2 million in the same period last year.
The company plans to continue investing in the drug discovery platform, albeit at reduced expenses.
The company holds a positive long-term outlook, expecting gradual operational improvements, revenue growth, and profitability in future quarters.
More details: Champions Oncology IR
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