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Jul 31, 2024
Avid Bioservices Q1 2025 Earnings Report
Reported first quarter revenue and signed new business.
Key Takeaways
Avid Bioservices reported a strong first quarter with revenues of $40.2 million and new business signings of $66 million, resulting in a backlog of $219 million. The company maintained its FY2025 revenue guidance of between $160 million and $168 million.
Recorded first quarter revenue of $40.2 million.
Signed $66 million in net new business, resulting in backlog of $219 million.
Maintained FY2025 revenue guidance of between $160 million and $168 million.
Experienced strong revenues from process development as new business was onboarded.
Avid Bioservices
Avid Bioservices
Forward Guidance
The company expects revenues and capacity utilization to increase, generating higher margins, and positioning Avid to achieve strong growth going forward, with a primary focus on filling remaining capacity.
Positive Outlook
- Revenues are expected to increase.
- Capacity utilization is expected to increase.
- Margins are expected to increase.
- Company is positioned to achieve strong growth going forward.
- Focus on filling remaining capacity.
Challenges Ahead
- Risk of delays in engaging new customers.
- Risk of unsuccessful execution of customer projects.
- Risk that changing economic conditions may delay or adversely impact the realization of the company’s backlog.
- Risk of not being able to convert backlog into revenue within contemplated time periods.
- Risk of technical difficulties in completing customer projects due to unanticipated equipment and/or manufacturing facility issues.