Champions Oncology(US:CSBR)2022-12-12 16:00Revenue Performance - Oncology services revenue for the three months ended October 31, 2022, was $14.3 million, a 21.2% increase from $11.8 million in the same period of 2021 [106]. - For the six months ended October 31, 2022, oncology services revenue reached $28.0 million, up 21.6% from $23.0 million in 2021 [106]. - Net cash provided by operating activities was $3.1 million for the six months ended October 31, 2022, compared to $1.4 million in 2021 [112]. Cost and Expenses - Cost of oncology services for the three months ended October 31, 2022, was $7.4 million, reflecting a 32.7% increase from $5.6 million in 2021 [107]. - Research and development expenses for the three months ended October 31, 2022, were $2.6 million, a 13.3% increase from $2.3 million in 2021 [109]. - General and administrative expenses for the three months ended October 31, 2022, were $2.5 million, an increase of 27.9% from $2.0 million in 2021 [111]. Financial Position - The company had an accumulated deficit of approximately $72.3 million as of October 31, 2022 [102]. - As of October 31, 2022, the company had cash of $10.8 million and working capital of $1.9 million [102]. - The company has no off-balance sheet debt or similar obligations, ensuring transparency in financial reporting [118]. Strategic Initiatives - The company plans to implement cost reduction strategies if revenue expectations do not materialize [102]. - The company launched Lumin Bioinformatics, an oncology data-driven software program, as part of its growth strategy [98]. Accounting and Estimates - Significant estimates affecting financial statements include accounts receivable realization and revenue recognition [115]. - The company's critical accounting policies are detailed in the Annual Report on Form 10-K filed on July 22, 2022 [115].