Avid Bioservices: Don't Miss The Bigger Picture

Monty Rakusen Investment Thesis As its ticker indicates, Avid Bioservices (NASDAQ:CDMO) is a biologic CDMO. The company produces drugs for pharmaceutical and biotech companies and also helps them in the development, quality control, and compliance of the drug. Avid has been performing really well since becoming a pure-play CDMO in 2018, growing revenue at a 22.7% CAGR and adjusted EBITDA at a 21.5% CAGR in 5 years (although normalized EBITDA is much higher than what they did in F23). However, over the l ...