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Apr 30, 2022
Avid Bioservices Q4 2022 Earnings Report
Avid Bioservices reported Q4 2022 financial results, achieving revenue of $31 million and signing $44 million in net new business orders.
Key Takeaways
Avid Bioservices reported strong Q4 2022 results, marked by $31 million in revenue and a record-high backlog of $153 million. The company's facilities and service expansions are progressing as planned, with new cell and gene therapy suites now operational. Revenue guidance for fiscal year 2023 is projected to be between $140 and $145 million.
Achieved Q4 revenue of $31 million.
Signed $44 million in net new business orders.
Ended the quarter with a record high backlog of $153 million.
New cell and gene therapy analytical and process development suites are now operational.
Avid Bioservices
Avid Bioservices
Forward Guidance
Avid Bioservices projects fiscal year 2023 revenue of $140 to $145 million, representing 17% - 21% growth over fiscal 2022.