Business
Champions Oncology Reports Quarterly Revenue of $13.5 Million Adjusted EBITDA of $1.1 Million
HACKENSACK, NJ / ACCESSWIRE / December 11, 2024 / Champions Oncology, Inc. (Nasdaq:CSBR), a global preclinical and clinical research services provider that
About this update from Champions Oncology, Inc.
[{"type":"text","content":"HACKENSACK, NJ / ACCESSWIRE / December 11, 2024 / Champions Oncology, Inc. (Nasdaq:CSBR), a global preclinical and clinical research services provider that offers end-to-end oncology solutions, today announced its financial results for its second quarter of fiscal 2025, ended October 31, 2024.Second Quarter and Recent Highlights:Total revenue increased 17% to $13.5 millionGross profit of $6.1 million; margin of 45%Net income of approximately $730,000Adjusted EBITDA of $1.1 millionDevelopment of new data revenue streamFirst Half 2025 Highlights:Total revenue increased 14% to $27.6 millionGross profit of $13.1 million; margin of 47%Net income of $2.1 millionAdjusted EBITDA of $3.2 millionRonnie Morris, CEO of Champions, commented, \"Our second quarter's performance solidified our confidence in the Company's turnaround that we've been discussing the last several quarters. We remain cautiously optimistic that the pharma and biotech environment is improving which will continue to contribute to our long-term growth.\" Morris added, \"In addition to our core business, we made significant strides in monetizing our data platform, establishing an additional revenue stream that can be transformative for the Company.\"David Miller, CFO of Champions, added, \"We continued to deliver strong financial results in our second quarter as revenue increased 17% to $13.5M while we reduced total costs by $771,000. As a result, we recorded adjusted EBITDA of $1.1 million.\" Miller added, \"With the renewed underlying strength in our core business coupled with the expected revenue contribution from our data platform, we're projecting revenue growth for the year of at least 10% - 15%.\"Second Fiscal Quarter Financial ResultsTotal revenue for the second quarter of fiscal 2025 was $13.5 million compared to $11.6 million for the same period last year, an increase of 17%. The combination of operational improvements and efficiencies implemented, which led to an increase in our revenue conversion percentage, and the acceleration in our bookings, generated an increase in revenue for both the three months and six months ended October 31, 2024. Total costs and operating expenses for the second quarter of fiscal 2025 were $12.8 million compared to $13.5 million for the second quarter of fiscal 2024, a decrease of $771,000 or 5.7%.For the second quarter of fiscal 2...