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• Annual Revenue: $15 million, a year-over-year decline of approximately $4 million or 7%.

• Annual Loss from Operations (GAAP): $7.4 million compared to $5.3 million in 2023.

• Adjusted Annual Loss: $3.9 million compared to $1.3 million in the previous year.

• Fourth Quarter Revenue: $14 million, an increase of $900,000 or 7% from the previous year.

• Fourth Quarter Adjusted EBITDA: Approximately $900,000 compared to an adjusted loss of $900,000 in Q4 2023.

• Fourth Quarter Cost of Sales: $7.2 million, a 1% increase from the previous year.

• Annual Cost of Sales: $29.1 million, a 1% increase from the previous year.

• Fourth Quarter Pharmacology Services Gross Margin: Expanded to 49% from 47% in the previous year.

• Annual Gross Margin: 43% for the full year.

• Fourth Quarter R&D Expense: Approximately $2 million, down from $2.8 million in the previous year.

• Annual R&D Expense: $9.5 million compared to $11.5 million in fiscal 2023.

• Fourth Quarter Sales and Marketing Expense: $1.8 million, relatively unchanged from the previous year.

• Annual Sales and Marketing Expense: $6.9 million compared to $6.8 million last year.

• Fourth Quarter G&A Expense: $2.1 million compared to $2.2 million in the previous year.

• Annual G&A Expense: $8.5 million compared to $8.1 million in the previous year.

• Cash Position: Ended the year with $2.6 million in cash and no debt.

• Cash Used in Operating Activities (Q4): $1.8 million.

• Warning! GuruFocus has detected 4 Warning Signs with CSBR.

Release Date: July 18, 2024

For the complete transcript of the earnings call, please refer to the full earnings call transcript.

Positive Points

• Champions Oncology Inc (NASDAQ:CSBR) ended the year stronger and leaner, positioning for a return to revenue growth and profitability.

• There is a gradual loosening of R&D budgets, leading to an uptick in opportunity generation.

• Operational improvements have led to better revenue numbers and adjusted EBITDA profitability in Q4.

• The ex vivo platform has contributed meaningfully to top-line growth, with expectations for further substantial contributions.

• The company has no debt and is managing cash carefully, expecting a cash-neutral position over the next few quarters.

Negative Points

• The biotech sector's economic environment led to a decrease in bookings growth and an increase in cancellations.

• Operational issues during the year increased costs and delayed revenue recognition.

• Revenue for fiscal year 2024 was $15 million, a decline of approximately $4 million or 7% year-over-year.

• The loss from operations for fiscal year 2024 was $7.4 million, compared to a loss of $5.3 million in 2023.

• The company experienced a contraction in its top line for the first time in many years.