Company Performance - ImmunoPrecise Antibodies Ltd. reported a quarterly loss of $0.11 per share, which was worse than the Zacks Consensus Estimate of a loss of $0.09, and the same as the loss reported a year ago [1] - The company posted revenues of $3.85 million for the quarter ended July 2024, missing the Zacks Consensus Estimate by 22.44%, compared to revenues of $4.26 million a year ago [2] - Over the last four quarters, the company has surpassed consensus EPS estimates only once and has topped consensus revenue estimates two times [2] Stock Performance - ImmunoPrecise Antibodies shares have declined approximately 60.8% since the beginning of the year, while the S&P 500 has gained 18% [3] - The current consensus EPS estimate for the upcoming quarter is -$0.04 on revenues of $5.4 million, and for the current fiscal year, it is -$0.25 on revenues of $21.75 million [7] Industry Outlook - The Medical Info Systems industry, to which ImmunoPrecise Antibodies belongs, is currently ranked in the top 29% of over 250 Zacks industries, indicating a favorable outlook compared to the bottom 50% [8]

Financial Performance - Revenue for the three months ended July 31, 2024, was CAD 5.263 million, a decrease of 7.5% compared to CAD 5.688 million for the same period in 2023[2] - Gross profit for the same period was CAD 2.356 million, down from CAD 2.795 million, reflecting a gross margin decrease[2] - The net loss for the period was CAD 3.999 million, compared to a loss of CAD 3.416 million in the prior year, highlighting ongoing financial challenges[2] - The company reported a net loss of CAD 3,416,000 for the period ended July 31, 2023, which was an improvement from the previously reported loss of CAD 3,565,000[15] - The company's net loss for the three months ended July 31, 2024, was $3.999 million, compared to a net loss of $3.416 million in the same period in 2023[49] Assets and Liabilities - Total assets decreased to CAD 59.299 million as of July 31, 2024, down from CAD 59.988 million at the end of April 2024[1] - The company reported total liabilities of CAD 26.445 million, an increase from CAD 24.310 million at the end of April 2024[1] - The accumulated deficit increased to CAD 102.559 million as of July 31, 2024, from CAD 98.560 million at the end of April 2024[3] - Total liabilities were adjusted to CAD 24,310,000 as of April 30, 2024, down from the previously reported CAD 26,067,000 due to a correction of deferred tax liabilities[14] - The accumulated deficit as of April 30, 2024, was CAD (98,560,000), improved from CAD (100,265,000) after adjustments[14] Cash and Financing - Cash and cash equivalents at the end of the period were CAD 4.000 million, compared to CAD 6.813 million at the end of July 2023[4] - The company anticipates needing to raise additional funds to finance operations and strategic goals, with uncertainties regarding future financing availability[6][7] - The company has incurred operating losses since inception, raising concerns about its ability to continue as a going concern without sufficient financing[6] - The company completed the first tranche of convertible debentures amounting to U.S.$2.0 million on July 16, 2024, with a maturity date of July 16, 2025[22] - The second tranche of convertible debentures for U.S.$1.0 million was completed on August 16, 2024[22] Research and Development - Research and development expenses increased significantly to CAD 1.642 million, up from CAD 0.947 million, indicating a focus on innovation[2] Property and Equipment - The net book value of property and equipment as of July 31, 2024, was CAD 16,437,000, compared to CAD 16,696,000 as of April 30, 2024[19] - The company reported total additions to property and equipment of CAD 261,000 for the three months ended July 31, 2024[19] - The accumulated depreciation for property and equipment as of July 31, 2024, was CAD 5,193,000, reflecting a depreciation expense of CAD 783,000 for the period[19] Employee Compensation - Employee remuneration expenses totaled $3.249 million for the three months ended July 31, 2024, compared to $4.184 million in 2023, reflecting a decrease of approximately 22.3%[41] - Key management personnel compensation for the three months ended July 31, 2024, was $0.813 million, down from $1.294 million in 2023, indicating a reduction of about 37.2%[42] - The company recorded share-based payments expense of $0.2 million for the three months ended July 31, 2024, down from $0.8 million in 2023[36] Revenue Breakdown - Revenue from the United States increased to $2.966 million, up 21.9% from $2.433 million in the prior year[46] - Revenue from Europe decreased to $2.258 million, down 23.8% from $2.965 million in the same period last year[46] - Project revenue for the three months ended July 31, 2024, was $4.894 million, a decline of 6.2% from $5.216 million in 2023[47] Shareholder Equity - The company’s total shareholders' equity increased to CAD 35,678,000 as of April 30, 2024, reflecting an adjustment of CAD 1,757,000[14] Other Financial Information - The company has a contingent earnout payment commitment of €12.0 million related to the acquisition of BioStrand, based on 20% of BioStrand's EBITDA over a 7-year period[44] - The company recorded €0.1 million in grant income during the three months ended July 31, 2024, from a previous grant funding of €0.5 million received in May 2022[45]

Financial Data and Key Metrics Changes - Total revenue for fiscal year 2024 was $24.5 million, a 19% increase compared to the previous year, driven by exceeding client expectations and expanding facility capacity in Europe [30][47] - Gross profit margin decreased to 49% from 56% in the previous year, attributed to additional costs from wet lab expansion and inflationary pressures [48] - Net loss for fiscal year 2024 was $27.2 million, slightly higher than the $26.6 million loss in the prior year, impacted by noncash impairment losses [51] Business Line Data and Key Metrics Changes - The company achieved a significant reduction in R&D expenses to $4 million in fiscal 2024 from $14.1 million in the previous year, focusing primarily on LENSai capabilities [49] - Sales and marketing expenses remained flat at $3.5 million year-over-year, indicating stable investment in these areas [50] Market Data and Key Metrics Changes - The biopharmaceutical industry is evolving rapidly, with a strong trend towards precision medicine and AI-driven drug discovery, which the company is well-positioned to capitalize on [4][5] - The company has expanded its discovery services to accommodate the growing VHH or Camelid antibody market, maintaining revenue growth despite facility relocations [19] Company Strategy and Development Direction - The company is focusing on AI-driven drug discovery and has launched the LENSai API, which has received positive feedback and is expected to enhance drug discovery capabilities [6][9] - Strategic investments in proprietary technologies and international expansion are aimed at tapping into new opportunities and reinforcing market leadership [34] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about the future of the biopharmaceutical industry and the company's position within it, emphasizing a commitment to innovation and operational efficiency [28][45] - The company is aware of the disconnect between its market valuation and intrinsic value, and is taking actions to address this disparity [32][35] Other Important Information - The company appointed Kristin Taylor as the Chief Financial Officer, transitioning from her interim role [11] - A new partnership with InterSystems aims to enhance data processing capabilities in healthcare, integrating advanced technology into practical solutions [17][36] Q&A Session Summary Question: Impact of milestones on current financials - Management indicated that while most milestones have been achieved, significant revenues from partnerships are expected to materialize in fiscal 2025 as discussions ramp up [90][91] Question: Challenges in commercialization of BioStrand - Management acknowledged that the transition to the therapeutic antibody space took longer than anticipated, but recent advancements in the LENSai API are expected to generate recurring revenues [60][62] Question: Sustainability of revenue growth - Management confirmed that revenue growth is sustainable, driven by expanded capabilities in the Netherlands and a diversified revenue base [100][125] Question: Consideration of strategic alternatives - Management remains open to actions that maximize shareholder value but is not interested in giving away the upside from past investments [98][121]

ImmunoPrecise Antibodies Ltd. (IPA) came out with a quarterly loss of $0.52 per share versus the Zacks Consensus Estimate of a loss of $0.10. This compares to loss of $0.15 per share a year ago. These figures are adjusted for non-recurring items. Over the last four quarters, the company has surpassed consensus EPS estimates two times. The sustainability of the stock's immediate price movement based on the recently-released numbers and future earnings expectations will mostly depend on management's commentar ...

☐ 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, 2024 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 PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 Commission file ...

ImmunoPrecise Antibodies (IPA) Reports Financial Results and Business Updates for Fourth Quarter and Full Fiscal Year 2024 Expands Laboratory Capabilities and Launches Advanced AI Models, Aimed at Strengthening Market Position Launches Commercial LENSai API, Offering Advanced AI-Powered Solutions Across Multiple Markets and Prepares for Further Launch with its Newest Partner, AWS VICTORIA, BRITISH COLUMBIA (CANADA), July 29, 2024 – ImmunoPrecise Antibodies Ltd. ("IPA", "Company", "we" or "us") (NASDAQ: IPA) ...

ATLANTA, July 19, 2024 (GLOBE NEWSWIRE) -- Calling all 17s1! SweetWater Brewing Company ("SweetWater Brewing" or "SweetWater"), one of the largest craft brewers in the Southeast and a subsidiary of Tilray Brands, Inc. ("Tilray" or the "Company") (NASDAQ: TLRY and TSX: TLRY), is teaming up with Atlanta United to release Rowdy Peach IPA, a lively and vibrant new brew that celebrates the 5-Stripes and its passionate legion of supporters. "With its easy-drinking peach flavor, Rowdy Peach IPA is truly a beer 'fr ...

Reflecting on our financial and operational strategies, we're proud to report a quarter of robust performance with a total revenue of $6.2 million, marking a 20% year-over-year increase. We are extremely proud to announce that this achievement marks our fourth quarter of back to back record breaking quarterly revenues at ImmunoPrecise Antibodies. This success is a testament to our strategic focus on sales, customer engagement, and operational efficiencies. Our BioStrand initiative has contributed to the suc ...

Sure, Will. This is Jennifer again. I'll take that question for you. So, yes, so first of all, I think it's essential to acknowledge that these are substantial investments we've made in Talem and for the acquisition of BioStrand. And these investments, as well as the recent fundraising are at a valuation that we don't believe and may not currently reflect our intrinsic value. So first of all, I'd like to touch just a little bit then on the strategic rational behind these investments. Really both Talem and B ...

ImmunoPrecise Antibodies Ltd. (NASDAQ:IPA) Q1 2024 Earnings Conference Call September 14, 2023 10:30 AM ET Company Participants Jennifer Bath - President and Chief Executive Officer Barry Duplantis - Vice President of Client Relations Ilse Roodink - Chief Scientific Officer Brad McConn - Chief Financial Officer Conference Call Participants Swayampakula Ramakanth - H.C. Wainwright & Co, LLC Operator Good morning, ladies and gentlemen. Thank you for joining us today for IPA's Earnings Call covering the First ...