Avid Bioservices, Inc. (CDMO) financial statements (2022 and earlier)

Company profile

Business Address 2642 MICHELLE DRIVE, SUITE 200
TUSTIN, CA 92780
State of Incorp. DE
Fiscal Year End April 30
SIC 2834 - Pharmaceutical Preparations (benchmarking)
More info Complete financial analysis Financial benchmarking

Balance sheet (Statement of financial position) ($ in thousands)

1/31/2022
TTM
4/30/2021
4/30/2020
4/30/2019
4/30/2018
4/30/2017
4/30/2016
ASSETS
Current Assets
Cash, cash equivalents, and short-term investments149,957169,91536,26232,35142,26546,79961,412
Cash and cash equivalents149,957169,91536,26232,35142,26546,79961,412
Receivables28,00918,8428,6067,3743,7547,7422,859
Inventory, net of allowances, customer advances and progress billings21,05411,87110,8836,55716,12933,09916,186
Inventory21,05411,87110,8836,55716,12933,09916,186
Prepaid expense   7096791,460 
Other undisclosed current assets4,4707,1764,0124,3275,000 1,351
Total current assets:203,490207,80459,76351,31867,82789,10081,808
Noncurrent Assets
Operating lease, right-of-use asset37,50818,69120,100
Property, plant and equipment69,39537,45527,10525,62526,47923,67424,302
Restricted cash and investments    1,1501,150600
Other noncurrent assets3,3521,2103023023044,1882,333
Other undisclosed noncurrent assets3503503501,150   
Total noncurrent assets:110,60557,70647,85727,07727,93329,01227,235
TOTAL ASSETS:314,095265,510107,62078,39595,760118,112109,043
LIABILITIES AND EQUITY
Liabilities
Current Liabilities
Accounts payable and accrued liabilities14,19818,0518,9457,8924,47316,42121,844
Accounts payable6,4569,2575,9264,3521,9095,7798,429
Accrued liabilities     4,5587,594
Employee-related liabilities7,7428,7943,0193,5402,5646,0845,821
Deferred revenue58,99150,76929,120
Debt498 4,379    
Disposal group, including discontinued operation    4,550  
Deferred revenue and credits 28,50010,030
Customer advances and deposits 17,01724,212
Contract with customer, liability14,651
Other liabilities1,4897618086199059931,488
Other undisclosed current liabilities2,1261,3551,228 27,935  
Total current liabilities:77,30270,93644,48023,16237,86362,93157,574
Noncurrent Liabilities
Long-term debt and lease obligation180,218116,83821,24493   
Long-term debt, excluding current maturities139,31396,949     
Finance lease, liability2,222  
Capital lease obligations93   
Operating lease, liability38,68319,88921,244
Liabilities, other than long-term debt   2,0722,1591,5991,395
Deferred revenue and credits 1,5991,395
Deferred rent credit   2,0722,159
Other undisclosed noncurrent liabilities(38,683)(19,889)(21,244)    
Total noncurrent liabilities:180,218116,83821,2442,1652,1591,5991,395
Total liabilities:257,520187,77465,72425,32740,02264,53058,969
Stockholders' equity
Stockholders' equity attributable to parent56,57577,73641,89653,06855,73853,58250,074
Preferred stock  22222
Common stock626156565544237
Additional paid in capital603,488637,534612,909613,615614,810590,971559,111
Accumulated deficit(546,975)(559,859)(571,071)(560,605)(559,129)(537,435)(509,276)
Total stockholders' equity:56,57577,73641,89653,06855,73853,58250,074
TOTAL LIABILITIES AND EQUITY:314,095265,510107,62078,39595,760118,112109,043

Income statement (P&L) ($ in thousands)

1/31/2022
TTM
4/30/2021
4/30/2020
4/30/2019
4/30/2018
4/30/2017
4/30/2016
Revenues115,97795,86859,70253,60353,62157,63044,686
Revenue, net 57,63044,686
Cost of revenue(78,170)(66,561)(55,770)(46,379)(56,545)(38,259)(22,966)
Cost of goods and services sold(78,170)(66,561)(55,770)  (38,259)(22,966)
Other undisclosed gross profit      (329)
Gross profit:37,80729,3073,9327,224(2,924)19,37121,391
Operating expenses(20,366)(17,064)(14,872)(12,846)(16,456)(47,631)(78,080)
Other operating expense, net
(Other Expenses)
     (7)(14)
Other undisclosed operating income (loss)    (1,258)7343
Operating income (loss):17,44112,243(10,940)(5,622)(20,638)(28,260)(56,360)
Interest and debt expense(2,125)(1,164)     
Other undisclosed loss from continuing operations before equity method investments, income taxes(1,164)      
Income (loss) from continuing operations before equity method investments, income taxes:14,15211,079(10,940)(5,622)(20,638)(28,260)(56,360)
Other undisclosed income from continuing operations before income taxes13313347428275  
Income (loss) from continuing operations before income taxes:14,28511,212(10,466)(5,340)(20,563)(28,260)(56,360)
Income tax benefit  2,197284   
Other undisclosed loss from continuing operations  (2,197)    
Income (loss) from continuing operations:14,28511,212(10,466)(5,056)(20,563)(28,260)(56,360)
Income (loss) from discontinued operations   841(1,250)  
Net income (loss):14,28511,212(10,466)(4,215)(21,813)(28,260)(56,360)
Other undisclosed net income (loss) attributable to parent(220)    101708
Net income (loss) attributable to parent:14,06511,212(10,466)(4,215)(21,813)(28,159)(55,652)
Preferred stock dividends and other adjustments(4,290)(7,894)(4,686)(4,686)(4,686)(4,640)(4,484)
Net income (loss) available to common stockholders, diluted:9,7753,318(15,152)(8,901)(26,499)(32,799)(60,136)

Comprehensive Income ($ in thousands)

1/31/2022
TTM
4/30/2021
4/30/2020
4/30/2019
4/30/2018
4/30/2017
4/30/2016
Net income (loss):14,28511,212(10,466)(4,215)(21,813)(28,260)(56,360)
Comprehensive income (loss):14,28511,212(10,466)(4,215)(21,813)(28,260)(56,360)
Comprehensive loss, net of tax, attributable to noncontrolling interest(6,304)      
Other undisclosed comprehensive income, net of tax, attributable to parent8,991    101708
Comprehensive income (loss), net of tax, attributable to parent:16,97211,212(10,466)(4,215)(21,813)(28,159)(55,652)

Statements sources

The financial statements are based on the company's filings with the The U.S. Securities and Exchange Commission (SEC) through the Electronic Data Gathering, Analysis, and Retrieval system (EDGAR). The information is derived from the 10-K and 10-Q reports submitted to the SEC in XBRL (eXtensible Business Reporting Language) format and presented according to the US GAAP Taxonomy. Please review the original filings for a more detailed information.

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