Financial Performance - Total revenue for the first quarter of fiscal 2025 was $14.1 million, an increase of 12% compared to $12.6 million in the same period last year[3] - Adjusted EBITDA for the first quarter was $2.0 million, a significant improvement from an adjusted EBITDA loss of $1.7 million in the first quarter of fiscal 2024[4] - Net income for the first quarter was $1.3 million, compared to a net loss of $2.6 million in the same period last year[4] - Total costs and operating expenses for the first quarter were $12.7 million, a decrease of $2.4 million or 15.8% from $15.1 million in the first quarter of fiscal 2024[3] - Total margin improved to 49.7% for the first quarter, up from 38.8% in the same period last year[5] Cost Management - Cost of oncology services decreased by $612,000, or 8.0%, to $7.1 million compared to $7.7 million for the same period last year[5] - Research and development expenses decreased by $1.3 million, or 47.9%, to $1.5 million compared to $2.8 million for the same period last year[6] - The company plans to continue focusing on cost reductions to maintain profitability despite potential revenue and margin volatility in upcoming quarters[2] - Stock-based compensation expense decreased to $258 from $423 year-over-year[16] Cash Flow and Liquidity - The company ended the quarter with cash on hand of approximately $2.9 million and has no debt[7] - Net cash provided by operating activities was $311, a significant improvement from a cash used of $3,991 in the prior year[16] - Cash at the end of the period was $2,892, down from $4,869 at the end of the same period last year[16] - Net cash used in investing activities was $668, with no purchases of property and equipment reported for the current period[16] - Net cash used in financing activities was $37, compared to $590 in the previous year[16] - The company reported a net increase in cash of $274, contrasting with a decrease of $5,249 in the same period last year[16] - Changes in operating assets and liabilities resulted in a cash outflow of $1,927, an improvement from $2,725 in the previous year[16] Future Outlook - The company is cautiously optimistic about future growth, citing operational improvements and a strong team as key factors[2] Depreciation and Allowance - Depreciation and amortization expense remained relatively stable at $449, compared to $445 in the prior year[16] - Allowance for doubtful accounts and estimated credit losses showed a reversal of $71, compared to an expense of $162 in the previous year[16]

Revenue and Financial Performance - Oncology services revenue decreased to $50.2 million in fiscal 2024 from $53.9 million in fiscal 2023, a decline of 6.9%[124] - The company reported a net loss of approximately $7.3 million for fiscal 2024, compared to a net loss of approximately $5.3 million in fiscal 2023[133] - Net cash used in operating activities was $6.1 million for fiscal 2024, a decrease from net cash provided of $4.0 million in fiscal 2023[134] Expenses - Gross margin for oncology services was 41% in fiscal 2024, down from 45% in fiscal 2023, attributed to unchanged variable costs amid revenue decline[125] - Research and development expenses decreased by 17.3% to $9.5 million in fiscal 2024 from $11.5 million in fiscal 2023 due to cost-cutting measures[126] - General and administrative expenses increased by 8.1% to $11.1 million in fiscal 2024, primarily due to compensation and recruiting expenses[128] Asset Impairment and Liabilities - The company recognized an asset impairment of $807,000 related to Lumin software development costs in fiscal 2023, with no impairment charges in fiscal 2024[129] - The company recorded an asset impairment charge related to software development costs of $807,000 during fiscal 2023, with no impairment charges recorded during fiscal 2024[147] - As of April 30, 2024 and 2023, the company recognized a liability for uncertain tax positions related to foreign operations amounting to $181,000[149] - The company has established a full valuation allowance for all deferred tax assets as of April 30, 2024 and 2023[148] Cash Flow and Investments - Cash used in investing activities was $836,000 in fiscal 2024, down from $2.9 million in fiscal 2023, primarily for lab and computer equipment[136] - Loss on disposal of equipment was $435,000 in fiscal 2024, compared to zero in fiscal 2023[130] Strategic Initiatives - The company is exploring strategic options to create additional value from its drug discovery business, including potential spin-out transactions or capital raises[121] Accounting Policies - The company adopted ASU No. 2016-13 on May 1, 2023, which requires immediate recognition of management's estimates of current expected credit losses, with no material effect on financial statements[152] - The company has no off-balance sheet debt or similar obligations, nor any transactions with related parties that are not disclosed[153] - Capitalized software development costs are amortized over an estimated useful economic life of three years[146] - The recoverability of capitalized software development costs is assessed by comparing forecasted future revenues to the carrying amount of the costs[147] - Stock-based payments are recognized based on fair value using the Black-Scholes option pricing model, with expenses adjusted for forfeitures[145] - The company does not anticipate any significant unrecognized tax benefits will be recorded during the next 12 months[149] - Amendments to contracts are evaluated to determine if they should be accounted for as separate contracts or as a continuation of the original agreement[144]

Financial Data and Key Metrics Changes - Fiscal 2024 saw a revenue decline of approximately $4 million or 7%, totaling $15 million, marking a contraction for the first time in many years [8][12] - In Q4, revenue increased to $14 million, up from $13.1 million in the prior year, representing a 7% increase [9] - Adjusted EBITDA for Q4 was approximately $900,000, compared to an adjusted loss of $900,000 in Q4 of 2023 [9][17] - The loss from operations for fiscal year 2024 was $7.4 million, compared to a loss of $5.3 million in 2023 [17] Business Line Data and Key Metrics Changes - The pharmacology services gross margin expanded to 49% in Q4, compared to 47% in the same quarter last year [39] - R&D expenses decreased to approximately $2 million in Q4 from $2.8 million in the prior year, and for the year, R&D expenses were $9.5 million compared to $11.5 million in fiscal 2023 [45] - Sales and marketing expenses remained relatively unchanged at $1.8 million for Q4 and $6.9 million for the year [46] Market Data and Key Metrics Changes - The biotech economic environment led to fewer new companies booking services and a slight decrease in average study size, impacting bookings growth [4][12] - Cancellations on recently signed bookings have slowed, indicating a potential stabilization in the market [5] Company Strategy and Development Direction - The company is focusing on expanding relationships with large pharma customers, which are less susceptible to downturns in the biotech sector [5] - Corellia, the drug development subsidiary, is actively seeking to out-license several programs while minimizing costs [7] - The company aims to improve operational efficiencies and scalability to support revenue growth with a smaller increase in operating costs [6][14] Management's Comments on Operating Environment and Future Outlook - Management expressed cautious optimism about emerging positive trends and a gradual loosening of R&D budgets leading to increased opportunities [3][13] - The company anticipates maintaining a cash-neutral position while improving bottom-line results in fiscal year 2025 [21][41] - Management is confident in returning to profitability and revenue growth compared to the first half of 2023 [41] Other Important Information - The company ended the year with $2.6 million in cash and no debt, with cash used in operating activities amounting to $1.8 million [21] - The company has made significant investments in prior periods to automate its ex-vivo platform, which is expected to enhance capacity and efficiency [21] Q&A Session Summary Question: Was the Q4 growth due to delayed projects or new business? - Management indicated that Q4 growth was a combination of improved opportunity generation, reduced cancellations, and operational efficiencies [24][25] Question: What operational improvements have been implemented? - Management confirmed that they have made significant operational changes to enhance efficiency and scalability, which are expected to yield benefits moving forward [27][28] Question: What percentage of revenues come from large pharma? - Approximately 40% of revenues are derived from top-tier customers, with a focus on deepening relationships with these clients [29]

Exhibit 99.1 NEWS One University Plaza, Suite 307 Hackensack, NJ 07601 Champions Oncology Reports Quarterly Revenue of $14.0 Million Annual Revenue of $50.2 Million Hackensack, NJ – July 18, 2024 – Champions Oncology, Inc. (Nasdaq: CSBR), a leader in the development of advanced preclinical oncology solutions, today announced its financial results for the fiscal year and fourth quarter ended April 30, 2024. Fourth Quarter Financial Highlights: Fiscal Year 2024 Financial Highlights: Ronnie Morris, CEO of Cham ...

Because of its inherent limitations, internal control over financial reporting may not prevent or detect misstatements. Also, projections of any evaluation of effectiveness to future periods are subject to the risk that controls may become inadequate because of changes in conditions, or that the degree of compliance with the policies and procedures may deteriorate. Item 2. Unregistered Sales of Equity Securities and Use of Proceeds and 101.INS* iXBRL Instance Document. 101.SCH* iXBRL Taxonomy Extension Sche ...

Champions Oncology, Inc. (NASDAQ:CSBR) Q3 2024 Earnings Conference Call March 12, 2024 4:30 PM ET Company Participants Ronnie Morris - CEO David Miller - CFO Operator Greetings. Welcome to the Champions Oncology Third Quarter Fiscal Year 2024 Earnings Call. At this time all participants are in a listen-only mode. A question-and-answer session will follow the formal presentation. [Operator Instructions] Please note this conference is being recorded. I will now turn the conference over to your host, Ronnie Mo ...

Exhibit 99.1 NEWS One University Plaza, Suite 307 Hackensack, NJ 07601 Tel: 551-206-8104 Champions Oncology Reports Quarterly Revenue of $12.0 Million Hackensack, NJ – March 12, 2024 – Champions Oncology, Inc. (Nasdaq: CSBR), a global preclinical and clinical research services provider that offers end-to-end oncology solutions, today announced its financial results for its third quarter of fiscal 2024, ended January 31, 2024. Third Quarter and Recent Highlights: Ronnie Morris, CEO of Champions, commented, " ...

Champions Oncology, Inc. (NASDAQ:CSBR) Q2 2024 Earnings Conference Call December 12, 2023 4:30 PM ET Company Participants Ronnie Morris - CEO David Miller - CFO Operator Greetings. Welcome to the Champions Oncology Second Quarter Fiscal Year 2024 Earnings Call. At this time, all participants are in a listen-only mode. [Operator Instructions] Please note, this conference is being recorded. I will now turn the conference over to your host, Ronnie Morris, CEO. You may begin. Ronnie Morris Good afternoon. I am ...

It is management's responsibility to establish and maintain "disclosure controls and procedures" as such term is defined in Rule 13a-15(e) under the Securities Exchange Act of 1934, as amended (the "Exchange Act"). Our management, with the participation of our Chief Executive Officer and our Chief Financial Officer have reviewed and evaluated the effectiveness of our disclosure controls and procedures as of the end of the period covered by this quarterly Report. In designing and evaluating our disclosure co ...

Champions Oncology, Inc. (NASDAQ:CSBR) Q1 2024 Earnings Conference Call September 13, 2023 4:30 PM ET Company Participants Ronnie Morris - CEO David Miller - CFO Conference Call Participants Matt Hewitt - Craig-Hallum David Baron - Baron Capital Operator Greetings. Welcome to the Champions Oncology First Quarter Fiscal Year 2024 Earnings Call. At this time all participants are in a listen-only mode. A question-and-answer session will follow the formal presentation. [Operator Instructions] Please note, this ...