Avid Bioservices, Inc. (NASDAQ:CDMO) Q2 2022 Earnings Conference Call December 7, 2021 4:30 PM ET Company Participants Tim Brons - Investor Relations Nick Green - President and Chief Executive Officer Dan Hart - Chief Financial Officer Matt Kwietniak - Chief Commercial Officer Conference Call Participants Sean Dodge - RBC Capital Markets Jacob Johnson - Stephens Matt Hewitt - Craig-Hallum Capital Paul Knight - KeyBanc Disclaimer*: This transcript is designed to be used alongside the freely available audio r ...

Financial Performance - Revenues for the second quarter ended October 31, 2021, were $26.1 million, an increase of 24% or $5.0 million compared to the same period in the prior year[117]. - Net income attributable to common stockholders for the second quarter was $3.5 million, or $0.06 per basic and diluted share[117]. - Gross profit for the three months ended October 31, 2021, was $9.2 million, with gross margins of 35%, compared to $6.4 million and 30% in the prior year[130]. - Revenues for the six months ended October 31, 2021 were $56.9 million, an increase of $10.4 million or 22% compared to $46.5 million for the same period in the prior year[135]. - Gross profit increased to $20.6 million for the six months ended October 31, 2021, up approximately $5.6 million, with gross margins improving from 32% to 36%[136]. - Operating income for the second quarter was $4.2 million, an increase of $1.9 million year-over-year, attributed to a $2.8 million increase in gross profit[131]. - Operating income improved to $11.1 million, a $4.1 million increase year-over-year, driven by higher gross profit[137]. - Interest expense for the second quarter was $0.7 million, attributed to outstanding Convertible Notes issued in March 2021[132]. - Interest expense was $1.4 million for the six months ended October 31, 2021, attributed to outstanding Convertible Notes issued in March 2021[140]. - Net cash provided by operating activities decreased by $4.5 million to $3.7 million compared to $8.1 million in the prior year[144]. Expenses and Costs - Selling, general and administrative (SG&A) expenses increased to $5.0 million, a rise of approximately 21% compared to $4.2 million in the prior year[131]. - SG&A expenses rose to $9.5 million, an increase of approximately $1.5 million or 19%, maintaining 17% of revenues for both periods[137]. - Capital expenditures for the six months ended October 31, 2021 were $11.8 million, with anticipated annual expenditures of $55 to $65 million for facility expansions[153]. Expansion Plans - The company plans to expand its CDMO service offerings into the cell and gene therapy market, including a new viral vector development facility with an estimated cost of $65 million to $75 million[119]. - The ongoing expansion of the Myford facility is expected to cost approximately $70 million to $75 million and will increase total revenue-generating capacity to up to $270 million annually[118]. - The total revenue-generating capacity, including the new viral vector facility and ongoing expansions, is projected to exceed $350 million annually[119]. Operational Insights - The company has not experienced significant operational impacts from the COVID-19 pandemic, maintaining essential services and implementing safety measures[120]. - Backlog as of October 31, 2021 was approximately $120 million, up from $118 million as of April 30, 2021[159]. - The company may need additional equity or debt financing if cash flows from operations are insufficient to support ongoing expansions[142]. Cash Position - Cash and cash equivalents as of October 31, 2021 totaled $163.7 million, sufficient to fund operations for at least the next 12 months[141].

Avid Bioservices, Inc. (NASDAQ:CDMO) Q1 2022 Earnings Conference Call September 8, 2021 4:30 PM ET Company Participants Tim Brons - IR Nick Green - President and CEO Dan Hart - CFO Conference Call Participants Sean Dodge - RBC Capital Markets Jacob Johnson - Stephens Matt Hewitt - Craig-Hallum Capital Paul Knight - KeyBanc Operator Good day, ladies and gentlemen, and welcome to the Avid Bioservices First Quarter Fiscal 2022 Financial Results Conference Call. At this time, all participants are in a listen-on ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended July 31, 2021 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from _____ to _____ Commission file number: 001-32839 AVID BIOSERVICES, INC. (Exact name of Registrant as specified in its charter) Delaware (State or other ...

Avid Bioservices, Inc. (NASDAQ:CDMO) Q4 2021 Earnings Conference Call June 29, 2021 4:30 PM ET Company Participants Tim Brons - Investor Relations, Vida Strategic Partners Nick Green - President & Chief Executive Officer Dan Hart - Chief Financial Officer Timothy Compton - Chief Commercial Officer Conference Call Participants Thomas Kelliher - RBC Capital Paul Knight - KeyBanc Capital Markets Lucas Baranowski - Craig-Hallum Capital Group LLC Mason Carrico - Stephens Inc. Operator Good day, ladies and gentle ...

Table of Contents Title of each class Trading Symbol(s) Name of each exchange on which registered Common Stock, $0.001 par value per share CDMO The NASDAQ Stock Market LLC UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 ________________________ FORM 10-K (Mark One) x ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended April 30, 2021 or o TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 ...

Avid Bioservices, Inc. (NASDAQ:CDMO) Q3 2021 Earnings Conference Call March 8, 2021 4:30 PM ET Company Participants Tim Brons - Investor Relations, Vida Strategic Partners Nick Green - President & Chief Executive Officer Dan Hart - Chief Financial Officer Timothy Compton - Chief Commercial Officer Conference Call Participants Matt Hewitt - Craig-Hallum Capital Group Jacob Johnson - Stephens Paul Knight - KeyBanc Capital Markets Operator Good day, ladies and gentlemen, and welcome to the Avid Bioservices' Th ...

Table of Contents Title of each class Trading Symbol(s) Name of each exchange on which registered Common Stock, $0.001 par value per share CDMO The NASDAQ Stock Market LLC 10.50% Series E Convertible Preferred Stock, $0.001 par value per share CDMOP The NASDAQ Stock Market LLC UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ý QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended January 31, 2021 or o TRANSITIO ...

Avid Bioservices, Inc. (NASDAQ:CDMO) Q2 2021 Earnings Conference Call December 2, 2020 4:30 PM ET Company Participants Tim Brons - IR, Vida Strategic Partners Nick Green - President and Chief Executive Officer Dan Hart - Chief Financial Officer Timothy Compton - Chief Commercial Officer Conference Call Participants Matt Hewitt - Craig-Hallum Capital Group Paul Knight - KeyBanc Jacob Johnson - Stephens Operator Good day, ladies and gentlemen, and welcome to the Avid Bioservices Second Quarter Fiscal 2021 Fin ...

Title of each class Trading Symbol(s) Name of each exchange on which registered Common Stock, $0.001 par value per share CDMO The NASDAQ Stock Market LLC 10.50% Series E Convertible Preferred Stock, $0.001 par value per share CDMOP The NASDAQ Stock Market LLC Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ý QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended October 31, 2020 or o TRANSITIO ...