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Apr 30, 2021
Avid Bioservices Q4 2021 Earnings Report
Avid Bioservices reported Q4 2021 financial results, achieving revenue of $27.6 million and annual revenue of $95.9 million. The company signed approximately $148 million in new business orders and achieved a year-end backlog of $118 million.
Key Takeaways
Avid Bioservices reported a strong Q4 and fiscal year 2021, with revenue reaching $27.6 million for the quarter and $95.9 million for the year. The company achieved operational profitability for four consecutive quarters and signed significant new business orders, resulting in a substantial year-end backlog.
Recorded fourth quarter revenue of $27.6 million and annual revenue of $95.9 million.
Achieved four consecutive quarters of operational profitability during fiscal 2021.
Signed approximately $148 million in new business orders and achieved a year-end backlog of $118 million during fiscal 2021.
Project fiscal 2022 revenue of $115 to $117 million, representing 20% - 22% growth over fiscal 2021.
Forward Guidance
Avid Bioservices projects fiscal year 2022 revenue between $115 million and $117 million, representing a 20% - 22% increase over fiscal year 2021.
Historical Earnings Impact
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