Champions Oncology(CSBR) - 2026 Q3 - Quarterly Results

Revenue Performance - Record study service revenue of $16.6 million, up approximately 32% year over year[4] - Total revenue of $16.6 million, a decrease of 2.8% compared to $17.0 million in the prior-year period[6] - Oncology revenue for the three months ended January 31, 2026, was $16.559 million, a decrease from $17.039 million in the same period of 2025, representing a decline of approximately 2.8%[29] Expenses and Costs - Cost of oncology revenue increased to $8.8 million, up 33.5% compared to $6.6 million in the same quarter last year[9] - Total costs and operating expenses for the quarter were $16.8 million, an increase of 34.3% compared to $12.5 million in the prior year[7] - Research and development expense increased by 32.1% to $2.3 million compared to $1.7 million in the prior year[10] - Sales and marketing expense rose by 47.6% to $2.7 million compared to $1.8 million in the prior year[10] - The cost of oncology revenue increased to $8.834 million for the three months ended January 31, 2026, compared to $6.617 million in the same period of 2025, indicating a rise of approximately 33.5%[29] - Research and development expenses increased to $2.271 million for the three months ended January 31, 2026, compared to $1.719 million in the same period of 2025, representing a rise of approximately 32.2%[29] Profitability and Earnings - Adjusted EBITDA of $574,000, down from $5.1 million in the same quarter last year[8] - For the three months ended January 31, 2026, the company reported a GAAP basic EPS of $(0.02), compared to $0.33 in the same period of 2025, reflecting a significant decline[28] - The adjusted EPS (diluted, Non-GAAP) for the three months ended January 31, 2026, was $0.04, down from $0.36 in the same period of 2025[28] - The company reported a net loss of $(279) thousand for the three months ended January 31, 2026, compared to a net income of $4.495 million in the same period of 2025[29] Cash Flow and Financial Position - Net cash used in operating activities was approximately $1.4 million for the quarter[11] - The company ended the quarter with cash on hand of approximately $7.1 million and no debt[12] - The company experienced a net cash used in operating activities of $(2.474) million for the nine months ended January 31, 2026, compared to a net cash provided of $518 thousand in the same period of 2025[31] Assets and Liabilities - Total assets decreased to $28.447 million as of January 31, 2026, down from $32.344 million as of April 30, 2025, reflecting a decline of approximately 12.1%[30] - Total liabilities decreased to $24.069 million as of January 31, 2026, compared to $28.572 million as of April 30, 2025, indicating a reduction of approximately 15.7%[30] Margin Analysis - Oncology services margin for the quarter was 47%, down from 61% for the same period last year[9] - The oncology services margin (Non-GAAP) for the three months ended January 31, 2026, was 47%, down from 61% in the same period of 2025[28]