Avid Bioservices

Avid Bioservices, Inc. engages in the commercial manufacturing. The firm focuses on the biopharmaceutical products derived from mammalian cell culture for culture for biotechnology and pharmaceutical companies. It specializes in clinical and commercial product manufacturing, purification, bulk packaging, stability testing and regulatory submissions and support. The company was founded on June 3, 1981 and is headquartered in Tustin, CA.

Earnings data Q3 2021

Earnings data Q4 2021

Earnings data Q1 2022

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Earnings data Q4 2023

Earnings data Q1 2024

Earnings data Q2 2024

Earnings data Q3 2024

Earnings data Q4 2024

Earnings data Q1 2025

Earnings data Q2 2025

Avid Bioservices Achieves Record Revenues, Faces Margin Challenges

Avid Bioservices achieved record revenues and strong bookings, but faced challenges with decreased gross margins and increased expenses. Moving into the viral vector space and with a strong late-phase project pipeline, the company sees opportunities for growth in the next 12 to 15 months.

Avid Bioservices reports Q2 earnings, focuses on expansion and innovation

Avid Bioservices showcased positive operational performance with increased utilization of the new mammalian line fleet and a record backlog. While facing challenges related to net loss and revenue recognition delays, the company remains focused on expansion and innovation, presenting opportunities for growth in the cell and gene therapy space and later-stage products.

Avid Bioservices reports robust Q3 earnings and targets pharma growth

Avid Bioservices delivered strong financial results in Q3 2023, showcasing revenue growth and operational efficiency.
While facing challenges in margins and expenses, the company's strategic focus on quality and growth presents opportunities for expansion.
With a solid cash position, record backlog, and targeted business development, Avid is poised for continued success in the market.

Avid Bioservices reports record revenues and backlog, eyes strategic growth

Avid Bioservices delivered a strong performance in Q4 2023, marked by record revenues and backlog, showcasing operational efficiency and market demand.
While facing challenges such as margin impact and resource allocation shifts, the company remains optimistic about its growth prospects and revenue stability.
Strategic opportunities lie in leveraging the strong backlog, cash flow, and planned CapEx to drive future growth and operational excellence.

Avid Bioservices reports revenue growth and expansion plans for 2024

Avid Bioservices' Q1 2024 performance reflects revenue growth and strategic investments in expanding capacity and capabilities.
While facing challenges in gross margins and profitability, the company's progress on the new facility signals future growth potential.
Opportunities lie in leveraging the completed facility to drive revenue, enhance market competitiveness, and address analyst concerns for improved performance.

Avid Bioservices reports record backlog and growth opportunities for 2024

Avid Bioservices showcased financial resilience with an improved cash position and strong backlog, despite facing revenue challenges. The company's focus on new services, customer diversity, and operational efficiency bodes well for future growth.

Avid Bioservices reports revenue growth and strategic expansions in Q3

Avid Bioservices reported strong revenue growth and backlog performance in Q3, while facing revenue decline and cost challenges compared to the previous year. Strategic expansions and operational refinements position the company for future opportunities in a competitive market landscape.

Avid Bioservices reports revenue growth and new projects, faces cost challenges

Avid Bioservices reported positive revenue growth and secured new project agreements, positioning the company for future expansion.
Despite challenges such as increased SG&A expenses and a net loss, Avid's focus on capacity utilization and new programs offers growth potential.
Addressing operational challenges and uncertainties while capitalizing on opportunities can drive Avid Bioservices towards improved financial performance.
The company's financial stability, strong backlog, and focus on profitability highlight a resilient business strategy amidst industry dynamics.

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Avid Bioservices, Inc. engages in clinical and commercial manufacturing of biologics. It focuses on the biopharmaceutical products derived from mammalian cell culture for culture for biotechnology and pharmaceutical companies. It specializes in clinical and commercial product manufacturing, purification, bulk packaging, stability testing and regulatory submissions and support. The company was founded on June 3, 1981 and is headquartered in Tustin, CA.

Avid Bioservices (NASDAQ: CDMO ) just reported results for the second quarter of 2024. Avid Bioservices reported earnings per share of -12 cents.

CDMO Stock Earnings: Avid Bioservices Misses EPS, Misses Revenue for Q2 2024

Avid Bioservices, Inc. (NASDAQ:CDMO ) Q2 2024 Earnings Conference Call December 7, 2023 4:30 PM ET Company Participants Tim Brons - Investors Relations Group Nick Green - President and CEO Dan Hart - Chief Financial Officer Matt Kwietniak - Chief Commercial Officer Conference Call Participants Jacob Johnson - Stephens Matt Hewitt - Craig-Hallum Paul Knight - KeyBanc Max Smock - William Blair Thomas Kelliher - RBC Capital Markets Operator Good day, ladies and gentlemen. And welcome to the Avid Bioservices Second Quarter Fiscal 2024 Financial Results Conference Call.

Avid Bioservices, Inc. (CDMO) Q2 2024 Earnings Call Transcript

Avid Bioservices (CDMO) came out with a quarterly loss of $0.12 per share versus the Zacks Consensus Estimate of a loss of $0.09. This compares to loss of $0.01 per share a year ago.

Avid Bioservices (CDMO) Reports Q2 Loss, Lags Revenue Estimates

-- Recorded Second Quarter Revenue of $25.4 Million -- -- Signed $35 Million in Net New Business Orders Resulting in a Backlog of $199 Million --

Avid Bioservices Reports Financial Results for Second Quarter Ended October 31, 2023

TUSTIN, Calif., Nov. 30, 2023 (GLOBE NEWSWIRE) -- Avid Bioservices, Inc. (NASDAQ:CDMO), a dedicated biologics contract development and manufacturing organization (CDMO) working to improve patient lives by providing high quality services to biotechnology and pharmaceutical companies, today announced that it will report financial results for the second quarter of fiscal year 2024 on December 7, 2023, after market close and will host a webcast at 1:30 PM Pacific Time (4:30 PM Eastern Time). Members of Avid's senior management will discuss financial results for the second quarter and review recent corporate developments.

Avid Bioservices to Report Financial Results for Second Quarter of Fiscal Year 2024 After Market Close on December 7, 2023

Avid Bioservices (CDMO) is technically in oversold territory now, so the heavy selling pressure might have exhausted. This along with strong agreement among Wall Street analysts in raising earnings estimates could lead to a trend reversal for the stock.

Down -22.27% in 4 Weeks, Here's Why Avid Bioservices (CDMO) Looks Ripe for a Turnaround

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Avid Bioservices (CDMO) saw its shares surge in the last session with trading volume being higher than average. The latest trend in earnings estimate revisions may not translate into further price increase in the near term.

Avid Bioservices (CDMO) Moves 9.0% Higher: Will This Strength Last?

CIRM-Funded Programs to Receive Access to Avid's Suite of World-Class CGT CDMO Services to Support Clinical Development Activities CIRM-Funded Programs to Receive Access to Avid's Suite of World-Class CGT CDMO Services to Support Clinical Development Activities

Avid Bioservices Partners With California Institute for Regenerative Medicine (CIRM) to Provide CDMO Services for Cell and Gene Therapy (CGT) Programs

Newly Launched CGMP Manufacturing Suites Undergoing Final Environmental Monitoring and Performance Qualification with Grand Opening Planned for January 2024 Completion of CGT Facility Brings Company's Total Revenue Generating Capacity to up to Approximately $400 Million Annually TUSTIN, Calif., Oct. 17, 2023 (GLOBE NEWSWIRE) -- Avid Bioservices, Inc. (NASDAQ:CDMO), a dedicated biologics contract development and manufacturing organization (CDMO) working to improve patient lives by providing high quality development and manufacturing services to biotechnology and pharmaceutical companies, today announced that it has completed construction of CGMP manufacturing suites within its new, world-class cell and gene therapy (CGT) development and CGMP manufacturing facility as scheduled.

Avid Bioservices Completes Construction of New, World-Class Cell and Gene Therapy Development and Manufacturing Facility

TUSTIN, Calif., Sept. 26, 2023 (GLOBE NEWSWIRE) -- Avid Bioservices, Inc. (NASDAQ:CDMO), a dedicated biologics contract development and manufacturing organization (CDMO) working to improve patient lives by providing high quality development and manufacturing services to biotechnology and pharmaceutical companies, today announced that the company will participate in the RBC Capital Markets Virtual CDMO Conference. Nick Green, president and chief executive officer, will be the featured speaker in a fireside chat at the conference, which will take place October 2-3, 2023.

Avid Bioservices to Participate in RBC Capital Markets Virtual CDMO Conference

Avid Bioservices, Inc. (NASDAQ:CDMO ) Q1 2024 Earnings Conference Call September 7, 2023 4:30 PM ET Company Participants Tim Brons - Investor Relations Nick Green - President & Chief Executive Officer Dan Hart - Chief Financial Officer Matt Kwietniak - Chief Commercial Officer Conference Call Participants Jacob Johnson - Stephens Matt Hewitt - Craig-Hallum Sean Dodge - RBC Capital Markets Operator Good day, ladies and gentlemen and welcome to the Avid Bioservices First Quarter 2024 Financial Results Conference Call. [Operator Instructions] As a reminder, this conference call may be recorded.

Avid Bioservices, Inc. (CDMO) Q1 2024 Earnings Call Transcript

Avid Bioservices (CDMO) reported break-even quarterly earnings per share versus the Zacks Consensus Estimate of a loss of $0.04. This compares to earnings of $0.04 per share a year ago.

Avid Bioservices (CDMO) Reports Break-Even Earnings for Q1

-- Recorded First Quarter Revenue of $37.7 Million -- -- Signed $36 Million in Net New Business Orders Resulting in a Backlog of $189 Million --

Avid Bioservices Reports Financial Results for First Quarter Ended July 31, 2023

TUSTIN, Calif., Aug. 31, 2023 (GLOBE NEWSWIRE) -- Avid Bioservices, Inc. (NASDAQ:CDMO), a dedicated biologics contract development and manufacturing organization (CDMO) working to improve patient lives by providing high quality services to biotechnology and pharmaceutical companies, today announced that it will report financial results for the first quarter of fiscal year 2024 on September 7, 2023, after market close and will host a webcast at 1:30 PM Pacific Time (4:30 PM Eastern Time). Members of Avid's senior management will discuss financial results for the first quarter and review recent corporate developments.

Avid Bioservices to Report Financial Results for First Quarter of Fiscal Year 2024 After Market Close on September 7, 2023

Investors did not warmly greet the latest earnings report from the contract pharmaceutical manufacturer and developer. The company flipped into the red on the bottom line, and proffered uninspiring revenue guidance.

Why Avid Bioservices Stock Was Plummeting This Week

Avid grew revenue in the quarter and in the year. The company reported falling earnings per share in both the quarter and the year.

Why Shares of Avid Bioservices Are Dropping Thursday

Avid Bioservices, Inc. (NASDAQ:CDMO ) Q4 2023 Earnings Conference Call June 21, 2023 4:30 PM ET Company Participants Tim Brons - Investor Relations Nick Green - President and CEO Dan Hart - Chief Financial Officer Matt Kwietniak - Chief Commercial Officer Conference Call Participants Matt Hewitt - Craig-Hallum Paul Knight - KeyBanc Capital Jacob Johnson - Stephens Thomas Kelliher - RBC Capital Market Operator Good day, ladies, and gentlemen, and welcome to the Avid Bioservices Fourth Quarter and Year-End Fiscal 2023 Financial Results Conference Call. At this time, all participants are in a listen-only mode.

Avid Bioservices, Inc. (CDMO) Q4 2023 Earnings Call Transcript

-- Fourth Quarter and Full Year Revenue of $39.8 Million and $149.3 Million, Respectively, Both Represent a Record-High Achievement -- -- Signed $55 Million in Net New Business Orders Resulting in a Record-High Backlog of $191 Million --

Avid Bioservices Reports Financial Results for Fourth Quarter and Fiscal Year Ended April 30, 2023

TUSTIN, Calif., June 14, 2023 (GLOBE NEWSWIRE) -- Avid Bioservices, Inc. (NASDAQ:CDMO), a dedicated biologics contract development and manufacturing organization (CDMO) working to improve patient lives by providing high quality services to biotechnology and pharmaceutical companies, today announced that it will report financial results for the quarter and fiscal year ended April 30, 2023 on June 21, 2023, after market close and will host a webcast at 1:30 PM Pacific Time (4:30 PM Eastern Time). Members of Avid's senior management will discuss financial results for the quarter and fiscal year ended April 30, 2023, and review recent corporate developments.

Avid Bioservices to Report Financial Results for Quarter and Fiscal Year Ended April 30, 2023 After Market Close on June 21, 2023

Avid Bioservices has recently completed two expansions within its mammalian cell facilities, increasing its manufacturing capacity and potential revenue generating capacity. The company is involved in several products at different stages of development, including a lentiviral gene therapy for the treatment of X-linked severe combined immunodeficiency.

Avid Bioservices Bolsters Manufacturing Capabilities And Generates High-Demand Services

TUSTIN, Calif., May 10, 2023 (GLOBE NEWSWIRE) -- Avid Bioservices, Inc. (NASDAQ:CDMO), a dedicated biologics contract development and manufacturing organization (CDMO) working to improve patient lives by providing high quality development and manufacturing services to biotechnology and pharmaceutical companies, today announced that the company will participate in the RBC Capital Markets Global Healthcare Conference. Nick Green, president and chief executive officer, will be the featured speaker in a fireside chat at the conference, which will take place May 16-17, 2023.

Avid Bioservices to Participate in RBC Capital Markets Global Healthcare Conference

Company to Host Open House to Celebrate Official Launch of Newest CGMP Mammalian Cell Manufacturing Suites within Myford Facility

Avid Bioservices Unveils Completed Mammalian Cell Facilities Expansion Providing Significantly Increased Capacity for Existing and Future Customers

Avid Bioservices Inc. (NASDAQ: CDMO) is a contract development and manufacturing organization (CDMO) that specializes in producing monoclonal antibodies, biologics, and novel proteins for biotech, healthcare, and pharmaceutical companies. Monoclonal antibodies were a hot topic of discussion during the pandemic.

News for Avid Bioservices Stock (CDMO)