Q4 2024 Champions Oncology Inc Earnings Call Transcript
Key Points
- Champions Oncology Inc (CSBR) ended the year stronger and leaner, positioning for a return to revenue growth and profitability.
- There is a gradual loosening of R&D budgets, leading to an uptick in opportunity generation.
- Operational improvements have led to better revenue numbers and adjusted EBITDA profitability in Q4.
- The ex vivo platform has contributed meaningfully to top-line growth, with expectations for further substantial contributions.
- The company has no debt and is managing cash carefully, expecting a cash-neutral position over the next few quarters.
- The biotech sector's economic environment led to a decrease in bookings growth and an increase in cancellations.
- Operational issues during the year increased costs and delayed revenue recognition.
- Revenue for fiscal year 2024 was $15 million, a decline of approximately $4 million or 7% year-over-year.
- The loss from operations for fiscal year 2024 was $7.4 million, compared to a loss of $5.3 million in 2023.
- The company experienced a contraction in its top line for the first time in many years.
Greetings. Welcome to Champions Oncology's fourth quarter fiscal year 2024 earnings conference call. (Operator Instructions) Please note this conference is being recorded. I will now turn the conference over to your host, Dr. Ronnie Morris, CEO of Champions Oncology. You may begin.
Good afternoon. I am Ronnie Morris, CEO of Champions Oncology. Joining me today is David Miller, Chief Financial Officer. Thank you for joining us for our quarterly earnings call. Before I begin, I will remind you that we'll be making forward-looking statements during today's call and that actual results could differ materially from what are described in those statements. Additional information on factors that could cause results to differ is available on our Form 10-Q and Form 10-K. A reconciliation of non-GAAP financial measures that may be discussed during the call to GAAP financial measures that may be discussed in the earnings release.
This past year was a challenging one. With disappointing
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