Champions Oncology Revises Fiscal Year 2024 Revenue Guidance To Be Generally In-Line With Last Year's Results

Author: Benzinga Newsdesk | December 12, 2023 05:07pm

David Miller, CFO of Champions, added, "As we've guided over the last several quarters, the increase in study cancellations during fiscal year 2023, primarily stemming from the economic impact on our customers' R&D budgets, would lead to lower revenue in the first half of 2024, pressuring margins and profitability. Results were a bit weaker than expected and, as a result, we're reducing our year-end revenue guidance and anticipating our year over year revenue growth will be generally flat. However, we believe our quarterly results will gradually improve going forward and, long term, we are well-positioned for continued growth as the underlying fundamentals of our business are strong, our sales pipeline is healthy, and our balance sheet is sound."

Posted In: CSBR