Avid Bioservices (CDMO) Tops Q3 EPS by 2c, Offers Guidance

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Go back to Avid Bioservices (CDMO) Tops Q3 EPS by 2c, Offers Guidance

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

March 13, 2023 4:05 PM EDT

-- 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 --

-- Mammalian Cell Manufacturing is Now Online and Process Development Facility Expansions to be Online by End of Calendar Q1 2023, Adding Approximately $120 Million of Revenue Capacity --

-- Cell and Gene Therapy Facility Expansion Expected to be Online by End of Calendar Q3 2023 --

-- Reaffirming FY 2023 Revenue... More