CDMO · Avid Bioservices, Inc. - Financials
Annual line items from SEC XBRL filings, sourced from EDGAR's Company Facts API with fallback to the quarterly Financial Statement Data Sets. See issuer overview for Form 4 activity and 10-K signals.
Income Statement
| Line item | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 |
|---|---|---|---|---|---|---|
| Revenue | $139.91M | $149.27M | $119.60M | $95.87M | $59.70M | $53.60M |
| Cost of Revenue | $132.59M | $117.79M | $82.95M | $66.56M | $55.77M | $46.38M |
| Gross Profit | $7.32M | $31.48M | $36.65M | $29.31M | $3.93M | $7.22M |
| R&D | - | - | - | - | - | - |
| SG&A | $26.00M | $27.88M | $21.23M | $17.06M | $14.52M | $12.85M |
| Total Operating Expenses | $26.00M | $27.88M | $21.23M | $17.06M | $14.87M | $12.85M |
| D&A | $11.11M | $7.21M | $4.48M | $3.45M | $3.09M | $2.75M |
| Operating Income | ($18.68M) | $3.60M | $15.42M | $12.24M | ($10.94M) | ($5.62M) |
| Interest Expense | $4.34M | $2.60M | $2.68M | $8.0K | - | - |
| Income Tax | $113.83M | $1.44M | ($115.01M) | $0 | $0 | ($284.0K) |
| Net Income | ($140.75M) | $560.0K | $127.67M | $11.21M | ($10.47M) | ($4.21M) |
| EPS - Basic | ($2.23) | $0.01 | $2.08 | ($0.27) | - | - |
| EPS - Diluted | ($2.23) | $0.01 | $1.84 | ($0.27) | - | - |
Balance Sheet
| Line item | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 |
|---|---|---|---|---|---|---|
| Cash & Equivalents | $38.11M | $38.54M | $126.17M | $169.91M | $36.26M | $32.35M |
| Accounts Receivable | $16.64M | $18.30M | $20.55M | $18.84M | $8.61M | $7.37M |
| Inventory | $30.38M | $43.91M | $26.06M | $11.87M | $10.88M | $6.56M |
| Accounts Payable | $20.67M | $24.59M | $9.50M | $9.26M | $5.93M | $4.35M |
| Current Assets | $104.00M | $112.45M | $180.02M | $207.80M | $59.76M | $51.32M |
| Total Assets | $336.56M | $451.05M | $429.84M | $265.51M | $107.62M | $78.39M |
| Current Liabilities | $70.57M | $73.71M | $75.76M | $70.94M | $44.48M | $23.16M |
| Long-term Debt | $54.24M | $49.14M | $43.45M | - | - | - |
| Total Liabilities | $275.67M | $261.58M | $255.32M | $187.77M | $65.72M | - |
| Stockholders' Equity | $60.89M | $189.47M | $174.53M | $77.74M | $41.90M | $53.07M |
| Retained Earnings | ($571.87M) | ($430.82M) | ($431.38M) | ($559.86M) | ($571.07M) | ($560.61M) |
Cash Flow
| Line item | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 |
|---|---|---|---|---|---|---|
| Operating Cash Flow | $10.95M | ($12.89M) | $9.46M | $31.18M | $5.83M | ($11.60M) |
| Investing Cash Flow | ($31.80M) | ($77.64M) | ($56.41M) | ($9.86M) | ($3.81M) | $4.54M |
| Financing Cash Flow | $20.07M | $2.90M | $3.20M | $112.33M | $1.10M | ($2.86M) |
| CapEx | $31.80M | $77.64M | $56.41M | $9.86M | $3.81M | $1.50M |
| Free Cash Flow | ($20.85M) | ($90.53M) | ($46.95M) | $21.32M | $2.02M | ($13.10M) |
Ratios
| Metric | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 |
|---|---|---|---|---|---|---|
| Profitability | ||||||
| Gross margin | 5.2% | 21.1% | 30.6% | 30.6% | 6.6% | 13.5% |
| Operating margin | -13.3% | 2.4% | 12.9% | 12.8% | -18.3% | -10.5% |
| EBITDA margin | -5.4% | 7.2% | 16.6% | 16.4% | -13.1% | -5.4% |
| Net margin | -100.6% | 0.4% | 106.8% | 11.7% | -17.5% | -7.9% |
| Free cash flow margin | -14.9% | -60.6% | -39.3% | 22.2% | 3.4% | -24.4% |
| FCF / Net income | 0.15 | -161.65 | -0.37 | 1.90 | -0.19 | 3.11 |
| R&D / Revenue | - | - | - | - | - | - |
| SG&A / Revenue | 18.6% | 18.7% | 17.7% | 17.8% | 24.3% | 24.0% |
| Effective tax rate | - | 72.0% | -908.4% | 0.0% | - | - |
| Return on assets | -41.8% | 0.1% | 29.7% | 4.2% | -9.7% | -5.4% |
| Return on equity | -231.2% | 0.3% | 73.2% | 14.4% | -25.0% | -7.9% |
| Return on invested capital | -12.8% | 0.8% | 7.1% | - | - | - |
| Liquidity | ||||||
| Current ratio | 1.47 | 1.53 | 2.38 | 2.93 | 1.34 | 2.22 |
| Quick ratio | 1.04 | 0.93 | 2.03 | 2.76 | 1.10 | 1.93 |
| Cash ratio | 0.54 | 0.52 | 1.67 | 2.40 | 0.82 | 1.40 |
| Leverage | ||||||
| Debt / Equity | 0.89 | 0.26 | 0.25 | - | - | - |
| Debt / Assets | 0.16 | 0.11 | 0.10 | - | - | - |
| Debt / EBITDA | - | 4.55 | 2.18 | - | - | - |
| Interest coverage | -4.3x | 1.4x | 5.8x | 1530.4x | - | - |
| Equity multiplier | 5.53 | 2.38 | 2.46 | 3.42 | 2.57 | 1.48 |
| Liabilities / Assets | 0.82 | 0.58 | 0.59 | 0.71 | 0.61 | - |
| Efficiency | ||||||
| Asset turnover | 0.42 | 0.33 | 0.28 | 0.36 | 0.55 | 0.68 |
| Inventory turnover | 4.37 | 2.68 | 3.18 | 5.61 | 5.12 | 7.07 |
| Days sales outstanding | 43d | 45d | 63d | 72d | 53d | 50d |
| Days inventory outstanding | 84d | 136d | 115d | 65d | 71d | 52d |
| Days payable outstanding | 57d | 76d | 42d | 51d | 39d | 34d |
| Cash conversion cycle | 70d | 105d | 136d | 86d | 85d | 68d |
| Valuation | ||||||
| P / E | - | - | - | - | - | - |
| P / B | - | - | - | - | - | - |
| P / S | - | - | - | - | - | - |
| EV / EBITDA | - | - | - | - | - | - |
| Growth | ||||||
| Revenue growth (YoY) | -6.3% | 24.8% | 24.8% | 60.6% | 11.4% | -0.0% |
| Revenue CAGR (3y) | 13.4% | 35.7% | 30.7% | 21.4% | 1.2% | 6.3% |
| Revenue CAGR (5y) | 21.2% | 22.7% | 15.7% | 16.5% | 17.4% | 19.1% |
| Gross profit growth (YoY) | -76.8% | -14.1% | 25.0% | 645.3% | -45.6% | - |
| Operating income growth (YoY) | - | -76.7% | 26.0% | - | -94.6% | 72.8% |
| Net income growth (YoY) | - | -99.6% | 1038.7% | - | -148.3% | 80.7% |
| EPS growth (YoY) | - | -99.5% | - | - | - | - |
| EPS CAGR (3y) | - | - | - | - | - | - |
| EPS CAGR (5y) | - | - | - | - | - | - |
| FCF growth (YoY) | 77.0% | -92.8% | - | 958.0% | - | 69.3% |
| FCF CAGR (5y) | - | - | - | - | - | - |
| Book value growth (YoY) | -67.9% | 8.6% | 124.5% | 85.5% | -21.1% | -4.8% |
Sales by segment
From XBRL dimensional facts in the 10-K period ending 2024-04-30.
Product / service
$139.91M totalManufacturing Revenue$119.34M · 85.3%
Process Development Revenue$20.57M · 14.7%
Stability scores
Altman Z′
FY 2024 · bankruptcy risk
-1.03
Distress
Private-firm variant - uses book equity instead of market cap. > 2.90 safe · 1.23-2.90 grey · < 1.23 distress.
Piotroski F-score
FY 2024 · 9-point quality
4/9
Neutral
- ✗Net income positive
- ✓Operating cash flow positive
- ✗ROA improved YoY
- ✓Cash flow > net income
- ✗Long-term debt decreased
- ✗Current ratio improved
- ✓No share dilution
- ✗Gross margin improved
- ✓Asset turnover improved
Peer comparison
Same SIC group: Pharmaceutical Preparations
Comparing Avid Bioservices against the 5 most active filers in the same SIC group.