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Apr 30, 2024
Avid Bioservices Q4 2024 Earnings Report
Avid Bioservices achieved record quarterly revenue and completed its three-year expansion program, enhancing capacity and capabilities.
Key Takeaways
Avid Bioservices reported record fourth-quarter revenue of $43.0 million, the highest in the company's history. The company signed $30 million in net new business, resulting in a backlog of $193 million. New mammalian and cell and gene therapy facilities are fully operational.
Recorded the highest quarterly revenue in Avid's history at $43.0 million.
Signed $30 million in net new business, leading to a backlog of $193 million.
Completed three-year expansion program, with new mammalian and cell and gene therapy facilities fully operational.
Provided FY 2025 revenue guidance of between $160 million and $168 million, representing 17% growth year-over-year at the midpoint.
Forward Guidance
Avid Bioservices anticipates continued commercial momentum and margin improvements in the coming year, supported by a strong backlog and increased capacity utilization. The company expects to generate positive cash flow during fiscal 2025 and projects full fiscal year revenue between $160 million and $168 million.
Positive Outlook
- Strong backlog
- Anticipated increase in capacity utilization
- Continued commercial momentum
- Margin improvements
- Expected to generate positive cash flow during fiscal 2025
Historical Earnings Impact
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Avg. Return Before/After Earnings
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