Avid Bioservices Q4 Performance and Future Outlook

Wednesday, 3 July 2024, 04:43
Avid Bioservices (CDMO) recently released their Q4 financial results, showcasing a mixed bag of performance indicators. The company reported a Q4 GAAP EPS of -$1.94, falling short of expectations by $1.90. However, their revenue of $42.98M marked an impressive 8.0% year-over-year increase, surpassing estimates by $0.84M. Looking ahead, Avid Bioservices has initiated an optimistic outlook for FY24, hinting at potential growth opportunities in the upcoming fiscal year.
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Avid Bioservices Q4 Performance and Future Outlook

Avid Bioservices Q4 Results

Avid Bioservices (CDMO) recently reported their financial performance for the fourth quarter.

Key Highlights:

  • EPS Miss: The company's Q4 GAAP EPS of -$1.94 fell short by $1.90.
  • Revenue Beat: Avid Bioservices' revenue of $42.98M showed an 8.0% year-over-year increase and exceeded expectations by $0.84M.

Conclusion: Despite missing on EPS, Avid Bioservices demonstrated strong revenue growth in Q4 and offered an optimistic outlook for FY24.

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