Loading...
•
Jun 30, 2023
Mesa Labs Q1 2024 Earnings Report
Mesa Labs' financial performance was reported for Q1 2024, showing a slight revenue increase and significant improvement in operating loss.
Key Takeaways
Mesa Labs reported a slight revenue increase of 0.4% in Q1 2024. The operating loss decreased significantly by 85.5%, and non-GAAP adjusted operating income excluding unusual items increased by 46.2%.
Revenues increased by 0.4%, reaching $50,645.
Non-GAAP core organic revenues growth was 2.0%.
Operating loss decreased by 85.5% to $(664).
Non-GAAP adjusted operating income excluding unusual items increased by 46.2% to $9,524.
Mesa Labs
Mesa Labs
Mesa Labs Revenue by Segment
Revenue by Segment
Sterilization & Disinfection Control Revenue
CapyFin.comBiopharmaceutical Development Revenue
CapyFin.comCalibration Solutions Revenue
CapyFin.comClinical Genomics Revenue
CapyFin.com Forward Guidance
Mesa Labs will be conservative in deploying operating expenses given ongoing economic uncertainty.
Positive Outlook
- Calibration Solutions division returned to growth as supply chain issues abate.
- Clinical Genomics business systems pipeline continues to grow in North America.
- Overall business in China remains robust.
- Gross profit percentages held roughly steady.
- Operating expenses declined 2.6% sequentially and 11.4% versus prior year.
Challenges Ahead
- A slowing capital equipment market in the broader life science tools space.
- The previously announced customer loss at Sema4.
- Currency headwinds.
- Capital equipment placements in the Biopharmaceutical Development division were below expectations for the quarter with sales cycles elongating.
- Overall growth in Sterilization and Disinfection Control was weaker than expected due to a warehouse relocation of a significant distributor.
Revenue & Expenses
Visualization of income flow from segment revenue to net income