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]

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 ...

Financial Data and Key Metrics Changes - Total revenue for the quarter was $5.7 million, representing a 21.3% increase year-over-year [2] - Gross profit totaled $2.8 million, with a gross profit margin of 49.1%, down from 52.9% in the previous fiscal year [3] - Operating expenses decreased to $7 million from $12.6 million in the same period last year [3] - Net loss for the quarter was $3.6 million, an improvement from a loss of $9.4 million in the first quarter of the previous year [36] - Cash held as of July 31, 2023, was $6.8 million, down from $8.4 million as of April 30, 2023 [11] Business Line Data and Key Metrics Changes - Protein production and B-cell select platform showed significant growth, with Utrecht site growing 44% and Victoria site growing 25.5% year-over-year [2] - Research and development expenses decreased to $0.4 million, primarily due to reduced spending on poly to antibody combination therapy [9] - Sales and marketing expenses increased slightly to $1.1 million, reflecting a small increase compared to the prior year [10] Market Data and Key Metrics Changes - Sales orders increased by 59% year-over-year in Q1, with June sales orders reaching $3.51 million, a 125% increase compared to June of the previous fiscal year [20][21] - July sales orders were $1.56 million, marking a 64% increase over July of the previous year [21] Company Strategy and Development Direction - The company is focusing on integrating AI with wet lab services to enhance therapeutic development processes [1] - A SaaS model is expected to launch in 12 to 18 months, which is anticipated to significantly increase revenue and profit margins [16] - The partnership with BioStrand is in its final phase, focusing on wet lab evaluation of in silico work [22] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in future prospects, driven by new BioStrand-based fee-for-service discovery programs and participation in upcoming conferences [22] - The company is adapting to the dynamic scientific landscape and is committed to leveraging technological expertise for growth [31] - The recent addition of experienced board members is expected to enhance strategic direction and financial strategies [56] Other Important Information - The company filed an F-3 form with the SEC to facilitate a shelf offering, aimed at attracting U.S. investors [59] - The quarterly burn rate slowed to CAD 1.6 million, indicating improved financial management [58] Q&A Session Summary Question: How is the BioStrand acquisition being monetized? - Management highlighted a focus on combined AI and wet lab services as a primary revenue source, with timelines for revenue generation outlined [13][44] Question: What inquiries are being received regarding the HYFT based in silico screening platform? - The company noted increased interest from pharmaceutical and biotech companies, with a focus on addressing biological challenges not successfully tackled in traditional wet lab settings [78] Question: What is the long-term vision for the data management platform? - The data management platform is crucial for reinforcing the synergy between AI capabilities and wet lab services, enhancing data integration and processing [66] Question: Can you provide more detail on R&D expenses related to internal efforts versus collaborations? - R&D spending is primarily focused on advancing fee-for-service offerings, with reduced spending on internal projects as they progress [82] Question: What is the opportunity to convert traditional wet lab work to BioStrand in silico work? - The company views these opportunities as additive to traditional wet lab work rather than a replacement, at least in the near term [84]

Company Participants Conference Call Participants Operator Before we commence, I would like to draw your attention to the fact that our discussion today may include forward-looking statements. These statements are subject to various risks and uncertainties that could cause actual results to differ materially from what we express or imply. We strongly encourage you to review our filings with the Securities and Exchange Commission for a comprehensive discussion of these risks and uncertainties. IPA remains co ...

ImmunoPrecise Antibodies Ltd. (NASDAQ:IPA) Q3 2023 Earnings Conference Call March 16, 2023 10:30 AM ET Company Participants Jennifer Bath - CEO Barry Duplantis - VP-Client Relations Ilse Roodink - Chief Scientific Officer Brad McConn - CFO Conference Call Participants Will McHale - Ingalls & Snyder Swayampakula Ramakanth - H.C. Wainright Michael Freeman - Raymond James Operator Good morning, and welcome to IPA's Earnings Call for the Third Quarter Fiscal Year 2023. I am Regina, and I will be your host for t ...

ImmunoPrecise Antibodies Ltd. (NASDAQ:IPA) Q2 2023 Earnings Conference Call December 15, 2022 10:30 AM ET Company Participants Jennifer Bath – Chief Executive Officer Barry Duplantis – Vice President-Client Relations Ilse Roodink – Chief Scientific Officer Brad McConn – Chief Financial Officer Conference Call Participants Swayampakula Ramakanth – H.C. Wainwright Michael Freeman – Raymond James Will McHale – Ingalls & Snyder Operator Good morning and thank your standing by. Welcome to ImmunoPrecise Antibody ...

ImmunoPrecise Antibodies Ltd. (NASDAQ:IPA) Q1 2023 Earnings Conference Call September 14, 2022 10:30 AM ET Company Participants Jennifer Bath - President & CEO Brad McConn - CFO Ilse Roodink - Chief Scientific Officer Barry Duplantis - VP, Client Relations Operator Good morning, and thank you for standing by. Welcome to ImmunoPrecise Antibodies First Quarter Fiscal 2022 Earnings Conference Call. Also on the call with us today are Jennifer Bath, Chief Executive Officer; Brad McConn, Chief Financial Officer; ...