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Dec 31, 2021
Mesa Labs Q3 2022 Earnings Report
Mesa Labs' financial performance saw revenue increase by 60%, but operating income decreased significantly due to unusual items. Net loss was also reported.
Key Takeaways
Mesa Labs reported a 60% increase in revenue for Q3 2022, driven by organic growth and acquisitions. However, the company experienced a decrease in operating income and reported a net loss, impacted by unusual items related to acquisitions and other adjustments.
Revenues increased by 60% compared to the same quarter last year, reaching $54,696 thousand.
Operating loss was $(2,512) thousand, a significant decrease compared to the prior year's operating income of $22 thousand.
Net loss was $(2,060) thousand, or $(0.39) per diluted share.
Organic revenue growth was 12% for the quarter.
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 completed the acquisition of Agena Bioscience and anticipates continued organic revenue and profitability growth, despite ongoing pandemic-related headwinds, with the Mesa Way operating model.
Positive Outlook
- Double-digit organic revenues growth yielding 12% for the quarter.
- Completed the acquisition of Agena Bioscience.
- The Mesa Way operating model continues to build increasing resilience into our businesses.
- Excited about Agena’s growth prospects and the strategic options it brings to our future.
- The quality of our business portfolio improved during the quarter with the acquisition of Agena Bioscience.
Challenges Ahead
- Ongoing pandemic related headwinds including obstacles to direct customer engagement, supply chain reliability, and personnel availability.
- Calibration Solutions continues to struggle with revenues contracting 6% in the quarter as compared to the prior year.
- Global supply chain complications and pandemic related labor shortages.
- Gross profit percentage shrank by 310 bps versus prior year in the quarter from lower volumes and higher labor costs.
- Uncertainty to come.
Revenue & Expenses
Visualization of income flow from segment revenue to net income