Overview
US oncology research firm's fiscal Q3 revenue fell 3% due to absence of data license revenue recognized yr ago
Study service revenue hit record, up 32% yr/yr on strong study execution and backlog conversion
Outlook
Champions Oncology expects year-over-year revenue growth for the fiscal year
Company anticipates positive adjusted EBITDA for the full fiscal year
Result Drivers
BACKLOG CONVERSION - Co said Q3 study service revenue rose as previously booked work was completed and recognized
ABSENCE OF DATA LICENSE REVENUE - Total revenue declined yr/yr due to lack of $4.5 mln data license transaction recognized in prior-year period
Company press release: ID:nACSZSZC0a
Key Details
Metric
Beat/Miss
Actual
Consensus Estimate
Q3 Revenue
$16.60 mln
Q3 Adjusted EPS
$0.04
Q3 EPS
-$0.02
Analyst Coverage
The stock recently traded at 57 times the next 12-month earnings vs. a P/E of 36 three months ago
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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)