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

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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 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.

Monoclonal Antibodies? Avid Bioservices surges 32% on Blowout Q3

Avid Bioservices' fiscal 2023 third-quarter earnings report painted an encouraging picture. Even so, the biotech's stock may be close to fair value after today's double-digit move higher.

Why Avid Bioservices Stock Is Surging Today

The stock price of Avid Bioservices Inc (NASDAQ: CDMO) increased by 10.85% after hours in the most recent trading session. This is why.

CDMO Stock: 10.85% Increase After Hours Explanation

Avid Bioservices, Inc. (NASDAQ:CDMO ) Q3 2023 Earnings Conference Call March 13, 2023 4:30 PM ET Company Participants Tim Brons - Investor Relations Nick Green - President and Chief Executive Officer Dan Hart - Chief Financial Officer Matt Kwietniak - Chief Commercial Officer Conference Call Participants Sean Dodge - RBC Capital Markets Matt Hewitt - Craig-Hallum Jacob Johnson - Stephens Paul Knight - KeyBanc Operator Good day, ladies and gentlemen and welcome to the Avid Bioservices Third Quarter Fiscal 2023 Financial Results Conference Call. [Operator Instructions] As a reminder, this conference call maybe recorded.

Avid Bioservices, Inc. (CDMO) Q3 2023 Earnings Call Transcript

Avid Bioservices (CDMO) delivered earnings and revenue surprises of 275% and 5.61%, respectively, for the quarter ended January 2023. Do the numbers hold clues to what lies ahead for the stock?

Avid Bioservices (CDMO) Q3 Earnings and Revenues Top Estimates

-- Recorded Third Quarter Revenue of $38.0 Million, a 21% Increase Compared to Prior Year Quarter -- -- Signed $67 Million in Net New Business Orders Resulting in a Backlog of $176 million, an Increase of 26% Year-Over-Year --

Avid Bioservices Reports Financial Results for Third Quarter Ended January 31, 2023, and Recent Developments

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TUSTIN, Calif., March 06, 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 third quarter of fiscal year 2023 on March 13, 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 third quarter and review recent corporate developments.

Avid Bioservices to Report Financial Results for Third Quarter of Fiscal Year 2023 After Market Close on March 13, 2023

Avid Bioservices is a CDMO, or a company that manufactures therapies for biotechs and pharmaceuticals. To grow revenues, the company is investing heavily in expanding their production, hurting cash flows in the process.

Avid Bioservices: Production Expansion Capex And High Costs Are Temporary Issues

Avid Bioservices, Inc. (NASDAQ:CDMO ) Q2 2023 Results Conference Call December 6, 2022 4:30 PM ET Company Participants Tim Brons - IR Nick Green - President and CEO Dan Hart - CFO Matt Kwietniak - Chief Commercial Officer Conference Call Participants Sean Dodge - RBC Capital Markets Matt Hewitt - Craig-Hallum Capital Group Jacob Johnson - Stephens Paul Knight - KeyBanc Operator Good day, ladies and gentlemen. And welcome to the Avid Bioservices Second Quarter Fiscal 2023 Financial Results Conference Call.

Avid Bioservices, Inc. (CDMO) Q2 2023 Earnings Call Transcript

Avid Bioservices (CDMO) delivered earnings and revenue surprises of 0% and 12.12%, respectively, for the quarter ended October 2022. Do the numbers hold clues to what lies ahead for the stock?

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

-- Recorded Second Quarter Revenue of $34.8 Million -- -- Signed $26 Million in Net New Business Orders Resulting in a Backlog of $147 Million, an Increase of 23% Year-Over-Year --

Avid Bioservices Reports Financial Results for Second Quarter Ended October 31, 2022 and Recent Developments

TUSTIN, Calif., Nov. 29, 2022 (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 2023 on December 6, 2022 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 2023 After Market Close on December 6, 2022

TUSTIN, Calif., Nov. 16, 2022 (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 the appointment of Oksana Lukash, as vice president, people. Ms. Lukash has more than 20 years of human resources experience with both established and entrepreneurial organizations across a range of industries.

Avid Bioservices Appoints Oksana Lukash as Vice President, People

TUSTIN, Calif., Nov. 02, 2022 (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 Credit Suisse 31st Annual Healthcare Conference. Nick Green, president and chief executive officer of Avid Bioservices, will deliver a corporate presentation at the conference, which will take place November 7-10, 2022, in Rancho Palos Verdes, CA.

Avid Bioservices to Participate in the Credit Suisse 31st Annual Healthcare Conference

The consensus price target hints at a 60.5% upside potential for Avid Bioservices (CDMO). While empirical research shows that this sought-after metric is hardly effective, an upward trend in earnings estimate revisions could mean that the stock will witness an upside in the near term.

Does Avid Bioservices (CDMO) Have the Potential to Rally 61% as Wall Street Analysts Expect?

TUSTIN, Calif., Sept. 27, 2022 (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 Global 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 3-4, 2022.

Avid Bioservices to Participate in RBC Global CDMO Conference

Accomplished Operations Professional Promoted from Role as Director of Project Engineering; Credited with Leading All of the Company's Ongoing Facility Expansion Projects Accomplished Operations Professional Promoted from Role as Director of Project Engineering; Credited with Leading All of the Company's Ongoing Facility Expansion Projects

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