Champions Oncology(CSBR) - 2025 Q2 - Quarterly Report

Revenue Performance - Oncology services revenue for the three months ended October 31, 2024, was $13.5 million, an increase of 16.6% compared to $11.6 million for the same period in 2023[107] - For the six months ended October 31, 2024, oncology services revenue reached $27.6 million, reflecting a 14.2% increase from $24.1 million in 2023[108] Cost and Expenses - The cost of oncology services for the three months ended October 31, 2024, was $7.4 million, up 12.2% from $6.6 million in 2023[109] - Research and development expenses decreased by 32.8% to $1.7 million for the three months ended October 31, 2024, compared to $2.5 million in 2023[110] - General and administrative expenses for the three months ended October 31, 2024, were $1.9 million, a decrease of 27.3% from $2.6 million in 2023[112] Financial Position - The company reported a net income of approximately $2.0 million for the six months ended October 31, 2024, with cash provided by operations of approximately $28,000[104] - As of October 31, 2024, the company had an accumulated deficit of approximately $82.6 million and cash on hand of approximately $2.8 million[104] - Net cash provided by financing activities was $202,000 for the six months ended October 31, 2024, primarily from cash received from stock options exercises[115] - The company has no off-balance sheet debt or similar obligations, ensuring transparency in its financial position[119] Strategic Considerations - The company is exploring strategic options to create additional value from its drug discovery business, which may include potential spin-out transactions or capital raises[102] - The company faces risks that could adversely affect its results of operations, including economic uncertainty, inflation, and geopolitical instability[117] Accounting Estimates - Significant estimates affecting financial statements include accounts receivable realization, revenue recognition, and stock-based compensation assumptions[118] - The company is classified as a smaller reporting company and is not required to provide extensive market risk disclosures[120]