Champions Oncology, Inc. (CSBR) 10-K Annual Report July 2022

Hackensack, NJ – July 21, 2022 – Champions Oncology, Inc. (Nasdaq: CSBR), a leading global technology-enabled biotech that is transforming drug discovery through innovative AI-driven pharmaco-pheno-multiomic integration, today announced its financial results for the year and fourth fiscal quarter ended April 30, 2022.

Fourth Quarter and Fiscal Year 2022 Financial and Recent Business Highlights:

•Fourth quarter revenue increased 22% to $12.9 million

•Record annual revenue of $49.1 million, an increase of 20% year-over-year

•Achieved high end of revenue guidance of 20%

•Gross margin improved to 52% for fiscal year 2022

•Adjusted EBITDA of $3.1 million for fiscal year 2022

Ronnie Morris, CEO of Champions, commented, “Fiscal year 2022 was an outstanding year for Champions as we successfully expanded our business lines while continuing to develop and implement our longer term strategies. Our ex-vivo business was especially promising as we saw rising demand for those services. Our computational discovery tools continue to evolve and this upcoming year will focus on moving these programs into preclinical development."

David Miller, CFO of Champions added, “We realized another year of financial milestones, reaching a record $49.1 million in revenue and delivering 20% top line growth, in line with the high end of revenue guidance. Our pipeline of opportunities remains robust and with the expansion of our platforms, we are well positioned to deliver strong financial results in fiscal year 2023. We’re projecting another year of top line revenue growth in the 20% range.”

Fourth Fiscal Quarter Financial Results

Total revenue for the fourth quarter of fiscal 2022 was $12.9 million, an increase of 22%, compared to $10.6 million for the same period last year. The increase in revenue was due to continued demand and larger study sizes for our pharmacology studies, including in-vivo and ex-vivo services. Total costs and operating expenses for the fourth quarter of fiscal 2022 were $13.2 million compared to $11.0 million for the fourth quarter of fiscal 2021, an increase of $2.2 million or 20%.

For the fourth quarter of fiscal 2022, Champions reported a loss from operations of $311,000, which includes $188,000 in stock-based compensation and $568,000 in depreciation and amortization compared to a loss from operations of $456,000, inclusive of $161,000 in stock-based compensation and $302,000 in depreciation and amortization in the fourth quarter of fiscal 2021. Excluding stock-based compensation, depreciation and amortization expenses, Champions

The following information was filed by Champions Oncology, Inc. (CSBR) on Thursday, July 21, 2022 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-K Annual Report statement of earnings and operation as management may choose to highlight particular information in the press release.

Please wait while we load the requested 10-K report or click the link below:

https://last10k.com/sec-filings/report/771856/000162828022019309/csbr-20220430.htm

View differences made from one year to another to evaluate Champions Oncology, Inc.'s financial trajectory

Compare SEC Filings Year-over-Year (YoY) and Quarter-over-Quarter (QoQ) — *Sample 10-K Year-over-Year (YoY) Comparison*

Compare this 10-K Annual Report to its predecessor by reading our highlights to see what text and tables were ~~removed~~ , added and changed by Champions Oncology, Inc..

Continue

Assess how Champions Oncology, Inc.'s management team is paid from their Annual Proxy

Champions Oncology, Inc.'s Definitive Proxy Statement (Form DEF 14A) filed after their 2022 10-K Annual Report includes:

Voting Procedures
Board Members
Executive Team
Salaries, Bonuses, Perks
Peers / Competitors

Continue

Rating
Learn More

Filter Sentiment:

All

Positive

Negative

Filter Category:

All

Revenue

Financial

Other

Filter Subcategory:

All

Product

Cash Flow

Expense

Income

Geography

Other

Inside Champions Oncology, Inc.'s 10-K Annual Report:

Revenue - Product Highlight
The increase in deferred revenue was primarily driven by cash received upon signing new studies, an indicator of the strength of the Company's sales pipeline.

Financial - Cash Flow Highlight
Cash flows provided by financing activities was due to exercises of stock options and decreased from the prior year due to lower volume of exercises of options and warrants.
Financial - Expense Highlight
The increase in cost of oncology services was primarily from an increase in compensation and supply expenses resulting from the larger study sizes, and compensation expense for our SaaS platform.
Financial - Expense Highlight
To the extent a valuation allowance is established or increased in a period, we include an expense within the tax provision of the consolidated statements of operations.
Revenue - Product Highlight
The increase in cash provided was primarily due to improving cash based operational results and an increase in deferred revenue.
Financial - Expense
General and Administrative General and...Read more
Revenue - Product
This process involves estimating the...Read more
Revenue - Product
Results of Operations The following...Read more
Revenue - Product
Variable consideration is recognized as...Read more
Financial - Expense
The general and administrative expenses...Read more
Revenue - Product
A contract's transaction price is...Read more
Revenue - Product
The increase in revenue was...Read more
Other - Other
ASU 2019-12 is effective for...Read more
Financial - Income
Any interest or penalties related...Read more
Financial - Expense
Recoverability of these capitalized costs...Read more
Other - Other
The standard is effective for...Read more
Other - Other
Liquidity and Capital Resources Our...Read more
Financial - Expense
Cost of Oncology Services Cost...Read more
Financial - Expense
The increase was mainly due...Read more
Financial - Expense
Recoverability of Capitalized Software Development...Read more
Revenue - Product
If the carrying value is...Read more
Financial - Income
Other income for the year...Read more
Revenue - Geography
As of April 30, 2022...Read more
Financial - Expense
Capitalization of these costs ceases...Read more

Financial Statements, Disclosures and Schedules

Inside this 10-K Annual Report

Material Contracts, Statements, Certifications & more

Champions Oncology, Inc. provided additional information to their SEC Filing as exhibits

Exhibit 4.1: Instruments Defining The Rights Of Security Holders, Including Indentures

Exhibit 23.1: Consents Of Experts And Counsel

Exhibit 31.1: Rule 13A-14(A)/15D-14(A) Certification

Exhibit 31.2: Rule 13A-14(A)/15D-14(A) Certification

Exhibit 32.1: Section 1350 Certification

Ticker: CSBR
CIK: 771856
Form Type: 10-K Annual Report
Accession Number: 0001628280-22-019309
Submitted to the SEC: Fri Jul 22 2022 4:28:05 PM EST
Accepted by the SEC: Fri Jul 22 2022
Period: Saturday, April 30, 2022
Industry: Biological Products No Disgnostic Substances

External Resources:
Stock Quote
Social Media

Bookmark the Permalink:
https://last10k.com/sec-filings/csbr/0001628280-22-019309.htm

Champions Oncology, Inc. (CSBR) SEC Filing 10-K Annual Report for the fiscal year ending Saturday, April 30, 2022

SEC Filings

CSBR Valuations

CSBR Annual Reports

CSBR Quarterly Reports

CSBR Corporate News