Immunoprecise(IPA)

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Immunoprecise(IPA) - 2025 Q4 - Earnings Call Transcript
2025-07-29 15:32
Financial Data and Key Metrics Changes - Fiscal year 2025 marked a record-setting year for the company, with fourth-quarter revenue reaching $7 million, the highest in the company's history, representing an 8.1% increase year-over-year and a 13.5% increase quarter-over-quarter [4][16] - Gross margin improved to 64% in the fourth quarter, up from 48% in the same quarter last year, and 55% for the full fiscal year, an increase from 49% in fiscal year 2024 [4][17] - Adjusted EBITDA loss narrowed to $316,000 in the fourth quarter, a significant improvement from a loss of $1.7 million in the same quarter last year [6][19] - Cash position improved to $10.8 million as of April 30, 2025, compared to $3.5 million at the end of fiscal year 2024 [20] Business Line Data and Key Metrics Changes - The BioStrand segment experienced exceptional growth, increasing over 180% year-over-year, with gross margins approaching 90% [5][17] - Canadian business showed strong growth, with sales orders reaching $4.3 million in the fourth quarter, more than double historical quarters, and year-over-year sales in Canada increased by 47% [6][17] Market Data and Key Metrics Changes - The company is actively divesting its Dutch subsidiary, with the process in the final stages, which is expected to streamline operations and generate additional cash [7][8] - The company plans to rebrand shortly after the divestiture to reinforce its position as a bio-native AI platform [9] Company Strategy and Development Direction - The company is shifting from a service-oriented model to a customizable platform-driven business, focusing on AI and data integration in drug discovery [9] - Strategic collaborations have been established, including partnerships with Ribopro and a publicly traded technology company, aimed at enhancing therapeutic development offerings [10][11] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in entering the new fiscal year with a financially disciplined position to support growth, driven by strong cash position and validated AI economics [20] - The company anticipates continued growth in its core capabilities and expects the trend of increased inquiries related to IND applications to persist [35] Other Important Information - The FDA's plans to phase out animal testing for monoclonal antibodies align with the company's Lens AI capabilities, which predict toxicity and immune response [11] - The company regained compliance with Nasdaq's minimum bid price requirement, reflecting growing market confidence [13] Q&A Session Summary Question: What should be expected for the clinical development of GLP-one peptides? - The company is working with two partners on drug product manufacturing and unique administration routes, with plans to bring in a financial sponsor for clinical trials [22][24] Question: What milestones are needed to recognize payments from the biotech partner on oncology assets? - Initial payments are expected to be visible in the second quarter, with no unusual deal-breaking milestones [25][27] Question: What traffic has been seen for services since the FDA's guidance on AI-based systems? - There has been a significant increase in inquiries related to IND applications, particularly for immunogenicity and epitope mapping [29][35] Question: How far along is the divestment of European facilities? - The divestment process is in the final stages, with a dedicated buyer and no expected detrimental impact on the Canadian facility [36][39]
Immunoprecise(IPA) - 2025 Q4 - Earnings Call Transcript
2025-07-29 15:30
Financial Data and Key Metrics Changes - Fiscal year 2025 marked a record-setting year for the company, with fourth-quarter revenue reaching $7 million, the highest in its history, representing an 8.1% increase year-over-year and a 13.5% increase quarter-over-quarter [5][18] - Gross margin for the fourth quarter was 64%, up from 48% in the same quarter last year, and gross margins for the full fiscal year increased from 49% to 55% [5][19] - Adjusted EBITDA loss narrowed to $316,000 in the fourth quarter, a significant improvement from a loss of $1.7 million in the same quarter last year [7][21] - Cash position improved to $10.8 million as of April 30, 2025, compared to $3.5 million at the end of fiscal year 2024 [22] Business Line Data and Key Metrics Changes - The BioStrand segment experienced exceptional growth, increasing over 180% year-over-year, with gross margins approaching 90% [6][19] - Canadian business showed strong growth, with sales orders reaching $4.3 million in the fourth quarter, more than double historical quarters, and year-over-year sales in Canada increased by 47% [7][19] Market Data and Key Metrics Changes - Orders from new clients rose 93% year-over-year and 80% quarter-over-quarter, indicating strong market demand [7] - The company is actively divesting its Dutch subsidiary, which is expected to enhance focus and streamline operations [8][9] Company Strategy and Development Direction - The company plans to rebrand to reinforce its position as a bio-native AI platform, shifting from a service-oriented model to a customizable platform-driven business [9][10] - Strategic collaborations have been established, including partnerships with Ribopro and a multibillion-dollar technology company, aimed at enhancing therapeutic development and antibody drug conjugates [11][12] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the company's financial position and operational efficiencies, anticipating continued growth driven by the BioStrand segment and the Lens AI platform [22][49] - The FDA's plans to phase out animal testing align with the company's capabilities, potentially increasing demand for its AI-driven services [12][33] Other Important Information - The company has made significant advancements in its dengue vaccine program and GLP-1 peptide, showcasing the versatility of its platform [13][14] - The company regained compliance with Nasdaq's minimum bid price requirement, reflecting growing market confidence [14] Q&A Session Summary Question: What should be expected for the clinical development of GLP-1 peptides? - The company is working with two partners on drug product manufacturing and unique administration routes, with plans to bring in a financial sponsor for clinical development [24][25] Question: What milestones are needed to recognize initial payments from the biotech partner? - Initial payments are expected to be visible in the second quarter, with multiple programs launching simultaneously [26][28] Question: What traffic has been seen since the FDA's guidance on AI-based systems? - There has been a significant increase in inquiries related to IND applications, with expectations for continued growth in the use of the Lens AI platform [30][37] Question: How far along is the divestment of the European facilities? - The divestment process is in the final stages, with a dedicated buyer and completion expected soon [38][40] Question: Is the Canadian facility able to handle the increased workload? - The Canadian facility is experiencing rapid growth and is equipped to manage the current workload, with ongoing expansions [41][44]
Immunoprecise(IPA) - 2025 Q4 - Annual Report
2025-07-29 12:30
AUSTIN, Texas, July 29, 2025 – ImmunoPrecise Antibodies Ltd. ("IPA", "Company", "we" or "us") (NASDAQ: IPA), a bio-native AI company operating at the intersection of TechBio and next-generation drug discovery, today announces its financial results for the fiscal year ended April 30, 2025. All numbers are expressed in Canadian dollars unless otherwise noted. ImmunoPrecise Antibodies (IPA) Reports Record Full Fiscal Year 2025 Results, Record Fourth Quarter Revenue, and Record Fourth Quarter Adjusted EBITDA Fi ...
Immunoprecise(IPA) - 2025 Q4 - Annual Report
2025-07-29 12:00
UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 20-F ☐ REGISTRATION STATEMENT PURSUANT TO SECTION 12(b) OR 12(g) OF THE SECURITIES EXCHANGE ACT OF 1934 OR ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended April 30, 2025 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from ____________________ to ____________________ OR ☐ SHELL COMPANY REPORT PURS ...
ImmunoPrecise Antibodies (IPA) Upgraded to Buy: What Does It Mean for the Stock?
ZACKS· 2025-04-03 17:05
Core Viewpoint - ImmunoPrecise Antibodies Ltd. (IPA) has received a Zacks Rank 2 (Buy) upgrade due to an upward trend in earnings estimates, which is a significant factor influencing stock prices [1][4]. Earnings Estimates and Ratings - The Zacks rating system is primarily based on a company's changing earnings picture, with the Zacks Consensus Estimate tracking EPS estimates from sell-side analysts [2]. - The Zacks rating upgrade for ImmunoPrecise Antibodies reflects a positive outlook on its earnings, which could positively affect its stock price [4]. Impact of Earnings Estimates on Stock Prices - Changes in a company's future earnings potential, as indicated by earnings estimate revisions, are strongly correlated with near-term stock price movements [5]. - Institutional investors utilize earnings estimates to determine the fair value of a company's shares, influencing their buying or selling actions, which in turn affects stock prices [5]. Business Improvement Indicators - Rising earnings estimates and the Zacks rating upgrade suggest an improvement in ImmunoPrecise Antibodies' underlying business, which may lead to higher stock prices as investors respond positively [6]. Earnings Estimate Revisions - ImmunoPrecise Antibodies is projected to earn -$0.17 per share for the fiscal year ending April 2025, reflecting a year-over-year change of 78.2% [9]. - Over the past three months, the Zacks Consensus Estimate for ImmunoPrecise Antibodies has increased by 37%, indicating a positive trend in earnings estimates [9]. Zacks Rank System - The Zacks Rank system classifies stocks into five groups based on earnings estimates, with Zacks Rank 1 stocks historically generating an average annual return of +25% since 1988 [8]. - The upgrade of ImmunoPrecise Antibodies to a Zacks Rank 2 places it in the top 20% of Zacks-covered stocks, suggesting a strong potential for market-beating returns in the near term [11].
Immunoprecise(IPA) - 2025 Q3 - Earnings Call Transcript
2025-03-28 21:13
Financial Data and Key Metrics Changes - For Q3 2025, ImmunoPrecise Antibodies generated CAD 6.2 million in revenue, consistent with the same quarter last year, indicating stable performance across wet lab operations [44] - BioStrand reported CAD 0.6 million in revenue for Q3, contributing to a year-to-date revenue exceeding CAD 1 million with a gross profit margin of 97% [44][11] - Operating expenses totaled CAD 27.8 million, primarily due to a non-cash impairment charge of CAD 21.2 million related to BioStrand's intangible assets [45] - The net loss for the quarter was CAD 21.5 million or CAD 0.66 per share, while the net loss pre-impairment was CAD 2.9 million or CAD 0.09 per share [47] Business Line Data and Key Metrics Changes - The percentage of antibody discovery projects aimed at therapeutic ends increased from 19% to 48% year-over-year at the main wet lab discovery site in Canada, indicating a shift towards higher revenue potential services [10] - BioStrand achieved a remarkable 131.8% year-over-year revenue increase, significantly impacting the financial trajectory of the company [11] Market Data and Key Metrics Changes - The demand for therapeutic applications is rapidly growing, with a notable increase in projects aimed at therapeutic ends [10] - The biotech industry has faced significant capital constraints, with 41 biotech companies filing for bankruptcy in 2023, highlighting the challenging market environment [16] Company Strategy and Development Direction - The company has secured a strategic partnership valued at USD 8 million to USD 10 million, leveraging proprietary B-cell select technology and AI-driven capabilities [8] - A strategic partnership with RIBOPRO was established to integrate messenger RNA and LNP technologies, focusing on AI-designed GLP-1 therapeutics for diabetes [9] - The company is realigning its pipeline strategy and has revealed multiple ADC lead candidates with tumor-killing capabilities [9] - The relocation of the corporate headquarters to Austin, Texas, aims to expand the US footprint in a thriving AI and biotech ecosystem [8] Management's Comments on Operating Environment and Future Outlook - Management emphasized the importance of maintaining a contingency funding model to navigate the challenging market environment and avoid financial pitfalls [18] - The company is entering the next quarter in a more focused and financially disciplined position, with a leaner structure and validated AI economics [48] - The integration of AI into wet lab capabilities is expected to enhance service offerings and profit margins [60] Other Important Information - The company successfully raised CAD 12.2 million through its At-the-Market facility, strengthening its financial position [47] - The full conversion of the Yorkville debenture has eliminated dilution risk and positioned the company for growth initiatives from a clean financial foundation [16] Q&A Session Summary Question: Details on the recent USD 8 million to USD 10 million deal - The initial purchase order was USD 8 million, with potential expansion to USD 10 million for additional engineering and optimization [55] - The expected timeline for the project is 18 months, with revenue drawn down weekly based on work completed [56] Question: Expectations for additional partnerships or collaborations - The company is incentivizing its team to focus on multi-site, multi-target programs, indicating a shift in how offerings are structured [62] Question: Impact of collaboration with Vultr on margins - The collaboration specifically benefits AI programs requiring significant GPU usage, leading to faster execution and cost efficiencies [70] Question: Cost implications post-European divestiture - Overall operating costs will be significantly lower post-divestiture, as European operations were more expensive than North American ones [76]
Immunoprecise(IPA) - 2025 Q3 - Earnings Call Transcript
2025-03-28 16:59
Financial Data and Key Metrics Changes - For Q3 2025, ImmunoPrecise Antibodies generated CAD 6.2 million in revenue, consistent with the same quarter last year, indicating stable performance across wet lab operations [44] - BioStrand reported CAD 0.6 million in revenue for Q3, contributing to a year-to-date revenue exceeding CAD 1 million with a gross profit margin of 97% [44][11] - The net loss for Q3 was CAD 21.5 million or CAD 0.66 per share, while the net loss pre-impairment was CAD 2.9 million or CAD 0.09 per share, compared to CAD 2.6 million or CAD 0.10 per share in Q3 of the previous year [47] Business Line Data and Key Metrics Changes - The percentage of antibody discovery projects aimed at therapeutic applications increased from 19% to 48% year-over-year at the main wet lab discovery site in Canada, highlighting a shift towards higher revenue potential services [10] - BioStrand achieved a remarkable 131.8% year-over-year revenue increase, significantly impacting the company's financial trajectory [11] Market Data and Key Metrics Changes - The demand for therapeutic applications is rapidly growing, with a notable increase in projects aimed at therapeutic ends [10] - The biotech industry has faced significant capital constraints, with 41 biotech companies filing for bankruptcy in 2023, more than double the number in 2022 [16] Company Strategy and Development Direction - The company has secured a strategic partnership valued between USD 8 million and USD 10 million, leveraging proprietary B-cell select technology and AI capabilities [8][26] - A strategic partnership with RIBOPRO was established to integrate messenger RNA and LNP technologies, focusing on AI-designed GLP-1 therapeutics for diabetes [9] - The company is actively pursuing a potential divestiture of its EU lab to enhance operational efficiency and focus on core competencies [10][38] Management's Comments on Operating Environment and Future Outlook - Management emphasized a proactive strategy to avoid financial pitfalls faced by many biotech companies, maintaining a contingency funding model and making necessary operational adjustments [19] - The company anticipates enhanced profitability and competitive edge as AI-driven platforms continue to scale, positioning for sustainable long-term growth [11][103] Other Important Information - The company successfully raised CAD 8.8 million through an equity raise and the full conversion of the Yorkville debenture, resulting in a debt-free status [9][16] - The relocation of the corporate headquarters to Austin, Texas, aims to expand the company's footprint in a thriving AI and biotech ecosystem [8] Q&A Session Summary Question: Details on the recent USD 8 million to USD 10 million deal - The initial purchase order was USD 8 million, with potential expansion to USD 10 million for additional project needs, expected to be spent over 18 months [55][56] Question: Expectations for additional partnerships - The company is incentivizing its team to focus on multi-site, multi-target programs, creating a repeatable model for scaling commercial efforts [64] Question: Impact of collaboration with Vultr on margins - The collaboration specifically benefits AI programs requiring significant GPU usage, improving margins primarily in those projects [67][70] Question: Cost implications post-European divestiture - Overall operating costs will be significantly lower post-divestiture, as North American operations are less expensive and more strategically aligned with the company's focus [76][78]
Immunoprecise(IPA) - 2025 Q3 - Quarterly Report
2025-03-28 14:48
Financial Performance - Total revenue for the three months ended January 31, 2025, was CAD 6,151,000, a decrease of 1.1% compared to CAD 6,221,000 for the same period in 2024[8] - Gross profit for the nine months ended January 31, 2025, increased to CAD 9,088,000, up 1.6% from CAD 8,945,000 in the same period of 2024[8] - The net loss for the period was CAD 21,521,000 for the three months ended January 31, 2025, compared to a net loss of CAD 2,679,000 for the same period in 2024[8] - The company recorded a net loss of $21.52 million for the three months ended January 31, 2025, compared to a net loss of $2.68 million for the same period in 2024[74] - Project revenue for the nine months ended January 31, 2025, was $15.91 million, down 3.6% from $16.51 million in the previous year[73] Expenses and Losses - Research and development expenses rose to CAD 3,854,000 for the nine months ended January 31, 2025, representing a 38.5% increase from CAD 2,783,000 in 2024[8] - The Company incurred an operating loss of $21.5 million for the three months ended January 31, 2025, and has an accumulated deficit of $126.6 million as of the same date[16] - For the nine months ended January 31, 2025, total employee remuneration expenses amounted to $9.09 million, a decrease of 15.5% compared to $10.75 million for the same period in 2024[68] Cash and Assets - Cash and cash equivalents at the end of the period increased to CAD 12,915,000 from CAD 3,459,000 as of April 30, 2024[5] - Total assets decreased to CAD 45,534,000 as of January 31, 2025, down from CAD 59,988,000 as of April 30, 2024[5] - Share capital increased to CAD 136,354,000 as of January 31, 2025, compared to CAD 119,773,000 as of April 30, 2024[5] - As of January 31, 2025, the net book value of intangible assets was $18.623 million, down from $38.814 million as of April 30, 2024[46] - The total net book value of property and equipment was $15.219 million as of January 31, 2025, down from $16.696 million as of April 30, 2024[45] Liabilities and Compliance - The Company is required to raise additional funds to finance operations and strategic goals, with no assurance that sufficient funding will be available[17] - The Company received a Nasdaq deficiency notice on August 19, 2024, for not meeting the minimum bid price requirement of $1.00 per share for 30 consecutive business days[18] - The Company did not regain compliance during the first 180-day compliance period but was granted an additional 180-day period until August 18, 2025, after transferring to the Nasdaq Capital Market[19] - A deferred tax liability of $3.9 million was written off due to an asset impairment for the three months ended January 31, 2025[43] Impairments and Adjustments - The company reported an asset impairment of CAD 21,184,000 for the three months ended January 31, 2025[8] - The company recorded an impairment loss of $21.2 million for the BioStrand cash-generating unit (CGU) during the three-month period ended January 31, 2025, primarily due to delays in expected cash flows[49] - The company recorded an impairment loss of $11.2 million on goodwill and $3.9 million on intangible assets for the BioStrand CGU during the year ended April 30, 2024[48] - The Company corrected an immaterial error related to the recognition of a deferred tax asset, resulting in an adjustment of $1.7 million to the accumulated deficit[32] Share Capital and Equity - The weighted average number of shares outstanding increased to 32,851,233 for the three months ended January 31, 2025, compared to 25,800,919 for the same period in 2024[8] - The company issued 1,265,000 common shares in a public offering during the year ended April 30, 2024, with a public offering price of USD 1.00 per share[57] - Under the at-the-market equity offering facility, the company sold 10,980,551 common shares during the three months ended January 31, 2025, generating proceeds of CAD 10.1 million[59] - The company established an at-the-market equity offering facility with Clear Street LLC, allowing for gross sales of common shares up to USD 60.0 million, later amended to USD 8.8 million[58] Lease and Cash Flow - Total cash outflow for leases during the nine months ended January 31, 2025, was $1.1 million, compared to $1.0 million in the same period of 2024[53] - The company’s total minimum lease payments amount to $16.182 million, with a present value of minimum lease payments at $12.928 million as of January 31, 2025[53] - The total cash flows from financing activities for the three months ended January 31, 2025, were CAD 13,227,000, a decrease from CAD 14,961,000 in the same period of 2024[75] - The total cash flows from leases decreased from CAD 7,267,000 in January 31, 2023, to CAD 12,928,000 in January 31, 2025[75] Foreign Exchange and Other Income - Foreign exchange movements contributed CAD 190,000 to the total cash flows in January 31, 2025, compared to CAD 36,000 in January 31, 2024[75] - The company received €0.1 million in grant income during the nine months ended January 31, 2025, from a previous grant funding of €0.5 million[72]
Immunoprecise(IPA) - 2025 3 - Earnings Call Transcript
2025-03-28 14:30
Financial Data and Key Metrics Changes - For Q3 2025, the company generated CAD 6.2 million in revenue, consistent with the same quarter last year, indicating stable performance across wet lab operations [44] - BioStrand achieved CAD 0.6 million in revenue for the third quarter, contributing to a year-to-date revenue exceeding CAD 1 million and a gross profit margin of 97% [44] - Operating expenses totaled CAD 27.8 million, primarily due to a non-cash impairment charge of CAD 21.2 million related to BioStrand's intangible assets [45] - The net loss for the quarter was CAD 21.5 million, or CAD 0.66 per share, while the net loss excluding impairment was CAD 2.9 million, or CAD 0.09 per share [46][47] - Cash reserves increased to CAD 12.9 million from CAD 3.5 million at the end of fiscal year 2024, bolstered by an equity raise and the conversion of the Yorkville debenture [47] Business Line Data and Key Metrics Changes - The percentage of antibody discovery projects aimed at therapeutic applications increased from 19% to 48% year-over-year at the main wet lab discovery site in Canada, highlighting a shift towards higher revenue potential services [10] - BioStrand's revenue increased by 131.8% year-over-year, showcasing significant growth and high profitability [10] Market Data and Key Metrics Changes - The company has successfully secured a strategic partnership valued at USD 8 to 10 million with a leading biotech firm, enhancing its market position and revenue potential [7][26] - The demand for therapeutic applications is rapidly growing, with a notable increase in projects aimed at therapeutic ends [10][101] Company Strategy and Development Direction - The company has realigned its pipeline strategy, focusing on a new therapeutic development pipeline and revealing multiple ADC lead candidates [8] - A strategic partnership with RivalPro was established to integrate messenger RNA and LNP technologies, indicating a focus on innovative therapeutic solutions [7] - The relocation of the corporate headquarters to Austin, Texas, aims to expand the company's footprint in a thriving AI and biotech ecosystem [7] Management's Comments on Operating Environment and Future Outlook - Management highlighted the significant capital constraints faced by the biotech industry, with 41 companies filing for bankruptcy in 2023, emphasizing the company's proactive financial strategies to avoid similar pitfalls [16][17] - The company is entering the next quarter in a more focused and financially disciplined position, with a validated AI economics model and strong partner momentum [48] Other Important Information - The company is actively evaluating additional non-dilutive funding mechanisms and strategic asset realignment, including a potential divestiture of select European operations [48] - A major commercial milestone was achieved with a strategic partnership for next-generation cancer therapeutics, structured as an all-cash contract [26][27] Q&A Session Summary Question: Details on the recent $8 to $10 million deal - The initial purchase order was for $8 million, with potential for a second order based on project needs, expected to be drawn down weekly as work progresses [54][56] Question: Expectations for additional partnerships - The company anticipates more partnerships structured similarly, focusing on cash-based, execution-driven agreements that enhance flexibility and control over projects [58][64] Question: Impact of collaboration with Vulture on margins - The collaboration primarily benefits AI programs requiring significant GPU usage, improving margins and operational efficiency across those specific projects [66][68] Question: Cost implications post-European divestiture - Overall operating costs will decrease significantly as European operations are more expensive than North American ones, with a focus on streamlining services and enhancing profitability [74][76]
ImmunoPrecise Antibodies Ltd. (IPA) Reports Q3 Loss, Misses Revenue Estimates
ZACKS· 2025-03-28 14:15
分组1 - ImmunoPrecise Antibodies Ltd. reported a quarterly loss of $0.06 per share, which aligns with the Zacks Consensus Estimate, showing an improvement from a loss of $0.08 per share a year ago [1] - The company's revenues for the quarter ended January 2025 were $4.33 million, missing the Zacks Consensus Estimate by 12.19% and down from $4.6 million year-over-year [2] - Over the last four quarters, ImmunoPrecise Antibodies has consistently failed to surpass consensus EPS and revenue estimates [2][6] 分组2 - The stock has increased approximately 7% since the beginning of the year, contrasting with a -3.2% decline in the S&P 500 [3] - The current consensus EPS estimate for the upcoming quarter is -$0.05 on revenues of $5.02 million, and for the current fiscal year, it is -$0.27 on revenues of $18.02 million [7] - The Medical Info Systems industry, to which ImmunoPrecise belongs, is currently ranked in the top 17% of over 250 Zacks industries, indicating a favorable outlook compared to the bottom 50% [8]