Champions Oncology, Inc. (CSBR) recently reported its financial results for the fourth fiscal quarter and 12 months ended April 30, 2k19.
Fiscal Year 2k19 Financial and Recent Business Highlights:
- Record yearly revenue of $27.1M, an raise of 34% year-over-year
- Record quarterly revenue of $7.7M, an raise of 57% year-over-year
- Released ex-vivo platform and clinical flow services
- Forecast of revenue growth of 15% - 30% in FY 2020
Ronnie Morris, CEO of Champions, commented, “we’ve completed another year having achieved important accomplishments for the Company. We’ve grown our year over year revenue by 34%, recorded yearly profitable results while also adding to our product line by launching our ex-vivo platform and flow cytometry services. Expanding our suite of services is an important step in our long-term growth strategy for the Company.”
Fourth Fiscal Quarter Financial Results
For the fourth quarter of fiscal 2k19, revenue raised 56.8% to $7.7M contrast to $4.9M for the fourth quarter of fiscal 2k18. The overall raise in revenue is Because of the continuing raise in sales, both in number and size of studies, expanding our consumer base, and demand for our services. Total costs and operating expenses for the fourth quarter of fiscal 2k19 were $7.8M contrast to $5.5M for the fourth quarter of fiscal2k18, an raise of $2.3M or 42.0%.
For the fourth quarter of fiscal 2k19, Champions stated loss from operations of $117,000, which includes $143,000 in stock-based compensation and $174,000 in depreciation, an improvement of $477,000, contrast to the loss from operations of $594,000, inclusive of $172,000 in stock-based compensation and $110,000 depreciation expense, in the fourth quarter of fiscal 2k18. Not Including stock-based compensation and depreciation, Champions stated income from operations for the quarter of $200,000, an improvement of $512,000 contrast to a loss of $312,000 in the year ago period.
Cost of oncology solutions was $4.3M for the three months ended April 30, 2k19, an raise of $1.5M, or 52.6% contrast to $2.8M for the three months ended April 30, 2k18. The raise in cost of sales was primarily Because of an raise resulting from study volume as evidenced by the growth in revenue; and, about $500,000 in expenses Because of repeating studies. For the three months ended April 30, 2k19, gross margin was 44.3% contrast to 42.7% for the three months ended April 30, 2k18. The gross margin in the fourth quarter of fiscal 2k19 was influenced by the additional expenses related to study delays.
Research and development expense was $1.2M for the three months ended April 30, 2k19 an raise of $154,000, or 14.1% contrast to $1.1M in the previous year. The raise is Because of costs associated with the development of our ex-vivo and flow products. Sales and marketing expense for the three months ended April 30, 2k19 was $918,000, an raise of $203,000, or 28.4% contrast to $715,000 for the three months ended April 30, 2k18. The raise is mainly Because of an raise in salaries. General and administrative expense was $1.37M for the three months ended April 30, 2k19 contrast to $888,000 for the three months ended April 30, 2k18, an raise of $479,000 or 53.9%. The raise is mainly Because of an raise in salaries and professional fees.
The stock price switched up 11.07% 20-Days Simple Moving Average, added 3.54% from 50-Days Simple Moving Average and fell -10.90% from 200 Days Simple Moving Average. Sales growth past 5 years was measured at 19.50%.
