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Avid Bioservices(CDMO) - 2021 Q1 - Earnings Call Transcript
2020-09-01 23:53
Avid Bioservices, Inc. (NASDAQ:CDMO) Q1 2021 Earnings Conference Call September 1, 2020 4:30 PM ET Company Participants Tim Brons - Investor Relations Nick Green - President and CEO Dan Hart - Chief Financial Officer Timothy Compton - Chief Commercial Officer Conference Call Participants Matt Hewitt - Craig-Hallum Jacob Johnson - Stephens Operator Good day, ladies and gentlemen, and welcome to the Avid Bioservices First Quarter Fiscal 2021 Financial Results Conference Call. At this time, all participants ar ...
Avid Bioservices(CDMO) - 2021 Q1 - Quarterly Report
2020-09-01 20:42
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 193 ...
Avid Bioservices(CDMO) - 2020 Q4 - Earnings Call Transcript
2020-07-01 01:55
Avid Bioservices, Inc. (NASDAQ:CDMO) Q4 2020 Earnings Conference Call June 30, 2020 4:30 PM ET Company Participants Tim Brons - IR Richard Hancock - Interim President and CEO Daniel Hart - CFO Timothy Compton - Chief Commercial Officer Conference Call Participants Matt Hewitt - Craig-Hallum Capital Group Joe Pantginis - H.C. Wainwright Jacob Johnson - Stephens Operator Good day, ladies and gentlemen and welcome to the Avid Bioservices' Fourth Quarter and Year-End 2020 Financial Results Conference Call. At t ...
Avid Bioservices(CDMO) - 2020 Q4 - Annual Report
2020-06-30 21:00
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-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 Apr ...
Avid Bioservices(CDMO) - 2020 Q3 - Earnings Call Transcript
2020-03-11 02:20
Financial Data and Key Metrics Changes - Revenue for Q3 2020 was $13.6 million, slightly lower than the anticipated figure but consistent with $13.8 million in Q3 2019, primarily due to production interruptions [8][11] - Gross margin decreased to 6% in Q3 2020 from 15% in the prior year, attributed to production interruptions and increased depreciation expenses [9] - Consolidated net loss attributable to common stockholders was $3.5 million or $0.06 per share, compared to a loss of $2.6 million or $0.05 per share in Q3 2019 [11] - For the first nine months of fiscal 2020, revenues increased by 29% to $47.2 million from $36.5 million in the prior year [13] - Cash and cash equivalents as of January 31, 2020, were $30.7 million, down from $32.4 million at the end of the previous fiscal year [16] Business Line Data and Key Metrics Changes - The backlog at the end of Q3 2020 was $58 million, a 12% increase from $52 million at the end of Q2 2020 and a 26% increase from $46 million at the end of the last fiscal year [12] - Total SG&A expenses for Q3 2020 were $3 million, down from $3.2 million in Q3 2019, primarily due to decreased accrued bonuses [10][14] Market Data and Key Metrics Changes - The company faced production challenges due to a specific piece of equipment, impacting revenues and profits for Q3 and expected to affect Q4 as well [4][5] - Despite the challenges, the company reported progress in operational projects and business development activities [5][6] Company Strategy and Development Direction - The company is focused on enhancing its project pipeline and backlog while addressing production challenges [4][5] - A new Chief Commercial Officer has been appointed to strengthen business development efforts and improve customer engagement [6][18] - Plans for facility expansion and upgrades are in place to support anticipated growth in fiscal 2021 and beyond [26][27] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about the company's growth potential despite the operational setbacks in Q3 [26][29] - The company anticipates recovering lost revenue in fiscal 2021 and is taking steps to resolve production issues [28][29] - The health of the biologic CDMO industry is described as robust and growing, with strong client relationships [58] Other Important Information - The company is actively searching for a permanent CEO and hopes to fill the position within the next few months [25][57] - The company has launched a new website to enhance visibility and generate qualified sales leads [21] Q&A Session All Questions and Answers Question: Can you provide more details on the production issue? - The production issue is related to a specific piece of equipment, and the company is working closely with clients to resolve it, ensuring that no work has been canceled and will be made up once repairs are completed [32] Question: How is the company addressing the impact of the coronavirus? - The company has seen cancellations of planned conferences but maintains contact with clients and has not experienced significant disruptions in supply chain or client orders [35][37] Question: What is the anticipated timeline for recovering lost revenue? - The company expects to hit production runs early in the year and be through them by the first half of the next year [52] Question: How did the new customer come on board? - The new customer was in the queue prior to the new Chief Commercial Officer's arrival, and various avenues such as trade shows and the company's website contributed to landing the customer [56]
Avid Bioservices(CDMO) - 2020 Q3 - Quarterly Report
2020-03-10 20:36
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 ...
Avid Bioservices(CDMO) - 2020 Q2 - Earnings Call Transcript
2019-12-10 00:17
Avid Bioservices, Inc. (NASDAQ:CDMO) Q2 2020 Earnings Conference Call December 9, 2019 4:30 PM ET Company Participants Rick Hancock - Interim President and CEO Dan Hart - CFO Tracy Kinjerski - VP of Business Operations Tim Brons - IR Conference Call Participants Joseph Pantginis - H.C. Wainwright Matt Hewitt - Craig-Hallum Capital Jacob Johnson - Stephens Inc. Operator Good day, ladies and gentlemen, and welcome to the Avid Bioservices Second Quarter 2020 Financial Results Conference Call. At this time, all ...
Avid Bioservices(CDMO) - 2020 Q2 - Quarterly Report
2019-12-09 21:38
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 October 31, 2019 or o TRANSITIO ...
Avid Bioservices(CDMO) - 2020 Q1 - Earnings Call Transcript
2019-09-06 01:23
Avid Bioservices, Inc. (NASDAQ:CDMO) Q1 2020 Earnings Conference Call September 5, 2019 4:30 PM ET Company Participants Tim Brons - IR Rick Hancock - Interim President & CEO Dan Hart - CFO Tracy Kinjerski - VP of Business Operations Conference Call Participants Paul Knight - Janney Montgomery Steve Schwartz - First Analyst Operator Good day, ladies and gentlemen, and welcome to the Avid Bioservices First Quarter 2020 Financial Results Conference Call. [Operator Instructions] I would now like to hand the con ...
Avid Bioservices(CDMO) - 2020 Q1 - Quarterly Report
2019-09-05 20:36
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 July 31, 2019 or o TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from _____ to _____ | --- | |---------------------------------------------------------------------------------------------------| | | | | | Commission file n ...