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Jan 31, 2024
Avid Bioservices Q3 2024 Earnings Report
Avid Bioservices reported stronger revenues and increased bookings, ending the quarter with a record high backlog.
Key Takeaways
Avid Bioservices reported financial results for the third quarter ended January 31, 2024, with revenue of $33.8 million. The company signed $41 million in net new business, resulting in a record high backlog of $206 million. They also completed their expansion program with the grand opening of a cell and gene therapy manufacturing facility.
Recorded third quarter revenue of $33.8 million.
Signed $41 million in net new business, resulting in a record high backlog of $206 million.
Celebrated completion of recent expansion program with grand opening of cell and gene therapy manufacturing facility in January 2024.
Completed convertible debt offering subsequent to quarter end, extending debt maturity to 2029.
Forward Guidance
Avid estimates that its combined facilities now have a total revenue generating capacity of up to approximately $400 million annually.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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