Champions Oncology Reports Revenue of $15.2 Million
Revenue grew and margins improved for Champions Oncology, but the company remained loss-making and used cash in operations.
Rhea-AI Summary
Champions Oncology (CSBR) reported first quarter fiscal 2027 oncology revenue of $15.2 million, up 8.8% year over year, for the period ended July 31, 2026.
Oncology services margin expanded to 51% from 43%, driven by higher core research services and data license revenue and lower third-party radiolabeling costs. Adjusted EBITDA rose to $671,000 from $59,000, and non-GAAP basic EPS increased to $0.05 from $0.01. GAAP net loss narrowed slightly to $426,000, or $0.03 per basic share. Total costs and operating expenses increased 7.7% to $15.6 million, reflecting higher sales and marketing, R&D, and G&A.
Cash used in operating activities was $492,000, versus $600,000 provided in the prior-year quarter. The company ended the quarter with $4.4 million in cash, no debt, total assets of $33.3 million, and total liabilities of $28.8 million.
Positive
- Oncology revenue $15.2M, up 8.8% year over year in Q1 FY2027
- Oncology services margin improved to 51% from 43% year over year
- Adjusted EBITDA increased to $671K from $59K year over year
- Adjusted basic EPS rose to $0.05 from $0.01 year over year
- Cost of oncology revenue decreased 5.8% to $7.5M year over year
- Cash and cash equivalents $4.4M at quarter end with no debt
Negative
- GAAP net loss $426K in Q1 FY2027, slightly narrower than $466K
- Operating cash flow used $492K vs $600K provided in prior-year quarter
- Sales and marketing expense up 66.6% to $3.1M year over year
- Total costs and operating expenses increased 7.7% to $15.6M year over year
- Cash balance declined to $4.4M from $4.9M at April 30, 2026
- Total liabilities rose to $28.8M from $22.9M, driven by lease liabilities
News Explained
This is an unaudited earnings release, not the company’s full quarterly filing: Champions Oncology says complete first-quarter details will be available in its Form 10-Q by
Key Figures
- Revenue
- $15.2 million
- Q1 fiscal 2027; up 8.8% year over year
- Oncology services margin
- 51%
- Q1 fiscal 2027 vs. 43% in the prior-year period
- Adjusted EBITDA
- $671,000
- Q1 fiscal 2027 vs. $59,000 in the prior-year period
- Net loss
- $426,000
- Q1 fiscal 2027 vs. $466,000 in the prior-year period
- Operating expenses
- $15.6 million
- Q1 fiscal 2027 vs. $14.5 million in the prior-year period
- Adjusted EPS
- $0.05
- Q1 fiscal 2027 non-GAAP basic EPS vs. $0.01 in the prior-year period
- Cash and debt
- $4.4 million cash; no debt
- At July 31, 2026
- Operating cash flow
- $492,000 used
- Q1 fiscal 2027
Previous Earnings Reports
-
Record annual revenue, improved margin, and positive adjusted EBITDA were reported.
-
Higher costs reduced adjusted EBITDA and drove a quarterly net loss.
-
Revenue and oncology services margin increased alongside positive adjusted EBITDA.
24h Move is the share-price change in the day after each event; other market factors may also have contributed.
Key Terms
non-gaap financial
adjusted ebitda financial
stock-based compensation financial
patient-derived xenograft (pd x) medical
AI-generated analysis. How Rhea-AI works. Not financial advice.
Oncology services margin improves to
HACKENSACK, NJ / ACCESS Newswire / September 10, 2026 / Champions Oncology, Inc. (Nasdaq:CSBR), a leading translational oncology research organization, today announced its financial results for its first quarter of fiscal 2027, ended July 31, 2026.
First Quarter and Recent Highlights:
- Revenue of
$15.2 million , an increase of8.8% year over year - Oncology services margin of
51% , compared with43% in the prior-year period - Adjusted EBITDA of
$671,000 , compared with$59,000 in the prior-year period - Continued investment in the Company's commercial organization, data platform and strategic growth initiatives
Robert Brainin, CEO of Champions, commented, "We delivered strong performance in the first quarter of fiscal 2027, with improved study execution and conversion in our core research services business driving higher revenue and materially better margins. We are also seeing increased commercial activity around our data offerings as we work to broaden that business across a larger customer base."
"At the same time, we continued to invest in our commercial organization, radiopharmaceutical capabilities, data platform and target discovery initiatives. Our focus remains on building sustainable growth across the business while continuing to improve profitability."
David Miller, CFO of Champions, added, "Revenue increased
"We are continuing to build on the foundation established last year, with a focus on driving revenue growth, maintaining expense discipline and converting that growth into improved profitability."
First Fiscal Quarter Financial Results
Total oncology revenue increased
Total costs and operating expenses for the first quarter of fiscal 2027 were
For the first quarter of fiscal 2027, Champions reported a net loss of
Cost of oncology revenue was
Research and development expense for the three months ended July 31, 2026 was
Net cash used in operating activities was approximately
Conference Call Information:
The Company will host a conference call today at 4:30 p.m. EDT (1:30 p.m. PDT) to discuss its first quarter financial results. To participate in the call, please call 888-506-0062 (Domestic) or 973-528-0011 (International) and enter the access code 938837, or provide the verbal reference "Champions Oncology".
Full details of the Company's financial results will be available on or before September 14, 2026 in the Company's Form 10-Q at www.championsoncology.com.
* Non-GAAP Financial Information
This press release contains "Non-GAAP financial measures," which are measures that either exclude or include amounts that are not excluded or included in the most directly comparable measures calculated and presented in accordance with U.S. generally accepted accounting principles ("GAAP").
A further explanation and reconciliation and/or calculation of these Non-GAAP financial measures is included below and in the financial tables in this release.
The Company believes that the Non-GAAP financial measures presented facilitate an understanding of operating performance and provide a meaningful comparison of its results between periods. The Company's management uses Non-GAAP financial measures to, among other things, evaluate its ongoing operations in relation to historical results and for internal planning and forecasting purposes. Adjusted EBITDA and Adjusted EPS represent measures that we believe are customarily used by investors and analysts to evaluate the financial performance of companies in addition to the GAAP measures that we present. Our management also believes that these measures are useful in evaluating our core operating results. However, Adjusted EBITDA and Adjusted EPS are not measures of financial performance under accounting principles generally accepted in the United States of America and should not be considered an alternative to net income, operating income, or EPS as indicators of our operating performance or to net cash provided by operating activities as a measure of our liquidity. We believe the Company's Adjusted EBITDA and Adjusted EPS measures provide information that is directly comparable to that provided by other peer companies in our industry, but other companies may calculate Non-GAAP financial results differently, particularly related to nonrecurring, unusual items.
Adjusted EBITDA
Adjusted EBITDA represents net income (loss) excluding the effect of stock-based compensation and depreciation and amortization and may also exclude other items not indicative of our ongoing operating performance, when defined.
Adjusted Net Income (Loss) and Adjusted Earnings Per Share (EPS)
Adjusted net income (loss) (if denoted) and adjusted EPS exclude the effect of stock-based compensation and depreciation and amortization and may also exclude other items not indicative of our ongoing operating performance, when defined.
Oncology Services Profit and Oncology Services Margin
Oncology Services Profit is a Non-GAAP measure calculated as oncology revenue less cost of oncology revenue. Cost of oncology revenue is comprised primarily of expenses for mice, laboratory supplies, compensation, and outsourced lab services. Oncology Services margin is a Non-GAAP measure calculated as oncology services profit divided by oncology revenue.
Management believes that Oncology Services Profit and Oncology Services margin are metrics which provide a clear view of direct profitability before research and development, sales and marketing, and administrative expenses are factored into our results. Management monitors these metrics closely as an indicator of pricing strategy effectiveness and resource utilization. These Non-GAAP measures should not be considered in isolation or as a substitute for GAAP measures such as operating income (loss) and net income (loss). A reconciliation to the most directly comparable GAAP measure is provided in the accompanying tables.
About Champions Oncology, Inc.
Champions Oncology is a global preclinical and clinical research services provider that offers end-to-end oncology R&D solutions and innovative data platforms to biopharma organizations. With the largest and most annotated bank of clinically relevant patient-derived xenograft (PDX) and primary hematological malignancy models, Champions delivers innovative highest-quality data through proprietary in vivo and ex vivo platforms. Through its large portfolio of cutting-edge bioanalytical platforms, groundbreaking data platform and analytics, and scientific excellence, Champions enables the advancement of preclinical and clinical oncology drug discovery and development programs worldwide. For more information, please visit www.ChampionsOncology.com.
Media Inquiries:
Gavin Cooper
Vice President, Global Marketing
gcooper@championsoncology.com
Website: https://www.championsoncology.com/
Facebook: https://www.facebook.com/championsoncology/
LinkedIn: https://www.linkedin.com/company/champions-oncology-inc-/
Twitter: @ChampionsOncol1
Instagram: https://www.instagram.com/championsoncology/
This press release may contain "forward-looking statements" (within the meaning of the Private Securities Litigation Act of 1995) that inherently involve risk and uncertainties. Champions Oncology generally uses words such as "believe," "may," "could," "will," "intend," "expect," "anticipate," "plan," and similar expressions to identify forward-looking statements. One should not place undue reliance on these forward-looking statements. The Company's actual results could differ materially from those anticipated in the forward-looking statements for many unforeseen factors. See Champions Oncology's Form 10-K for the fiscal year ended April 30, 2026 for a discussion of such risks, uncertainties and other factors. Although the Company believes the expectations reflected in the forward-looking statements are reasonable, they relate only to events as of the date on which the statements are made, and Champions Oncology's future results, levels of activity, performance or achievements may not meet these expectations. The Company does not intend to update any of the forward-looking statements after the date of this press release to conform these statements to actual results or to changes in Champions Oncology's expectations, except as required by law.
Champions Oncology, Inc.
(Dollars in thousands)
Reconciliation of GAAP Net Loss to Adjusted EBITDA - (Non-GAAP) (Unaudited)
Three Months Ended July 31, | ||||||||
| 2026 | 2025 | |||||||
Net income (loss) - GAAP | $ | (426 | ) | $ | (466 | ) | ||
Adjustments: | ||||||||
Stock-based compensation | 766 | 208 | ||||||
Depreciation and amortization | 314 | 358 | ||||||
Loss on equipment disposal | - | 20 | ||||||
Other expense (income), net | 6 | (75 | ) | |||||
Provision for tax | 11 | 14 | ||||||
Adjusted EBITDA - Non-GAAP | $ | 671 | $ | 59 | ||||
Reconciliation of GAAP EPS to Non-GAAP EPS (Unaudited)
Three Months Ended July 31, | ||||||||
| 2026 | 2025 | |||||||
EPS - basic, GAAP | $ | (0.03 | ) | $ | (0.03 | ) | ||
Adjustments: | ||||||||
Effect of stock-based compensation on EPS | 0.06 | 0.02 | ||||||
Effect of depreciation and amortization on EPS | 0.02 | 0.03 | ||||||
Effect of loss on equipment disposal on EPS | - | 0.001 | ||||||
Effect of other expense (income), net on EPS | - | (0.01 | ) | |||||
Effect of provision for tax on EPS | - | 0.001 | ||||||
Adjusted EPS - basic, Non-GAAP | $ | 0.05 | $ | 0.01 | ||||
Reconciliation of GAAP Loss from Operations to Oncology Services Profit and Oncology Services Margin - (Non-GAAP) (Unaudited)
Three Months Ended July 31, | ||||||||
| 2026 | 2025 | |||||||
Loss from operations - GAAP | $ | (409 | ) | $ | (527 | ) | ||
Add: | ||||||||
Research and Development, Sales and Marketing, General and Administrative, and Loss on disposal of equipment | 8,107 | 6,527 | ||||||
Oncology services profit - Non-GAAP | 7,698 | 6,000 | ||||||
Add: Cost of oncology revenue | 7,534 | 7,995 | ||||||
Oncology revenue - GAAP | $ | 15,232 | $ | 13,995 | ||||
Oncology services margin - Non-GAAP | 51 | % | 43 | % | ||||
Unaudited Condensed Consolidated Statements of Operations (unaudited)
Three Months Ended July 31, | ||||||||
| 2026 | 2025 | |||||||
Oncology revenue | $ | 15,232 | $ | 13,995 | ||||
Cost of oncology revenue | 7,534 | 7,995 | ||||||
Research and development | 2,344 | 2,082 | ||||||
Sales and marketing | 3,090 | 1,855 | ||||||
General and administrative | 2,673 | 2,570 | ||||||
Loss on disposal of equipment | - | 20 | ||||||
Loss from operations | (409 | ) | (527 | ) | ||||
Other income (expense), net | (6 | ) | 75 | |||||
Loss before provision for income taxes | (415 | ) | (452 | ) | ||||
Provision for income taxes | 11 | 14 | ||||||
Net loss | $ | (426 | ) | $ | (466 | ) | ||
Net loss per common share outstanding | ||||||||
basic | $ | (0.03 | ) | $ | (0.03 | ) | ||
Weighted average common shares outstanding | ||||||||
basic | 13,897,535 | 13,788,414 | ||||||
Condensed Consolidated Balance Sheets
| July 31, 2026 | April 30, 2026 | |||||||
| (unaudited) | ||||||||
Cash and cash equivalents | $ | 4,358 | $ | 4,872 | ||||
Accounts receivable, net | 13,602 | 13,178 | ||||||
Other current assets | 1,332 | 1,169 | ||||||
Total current assets | 19,292 | 19,219 | ||||||
Operating lease right-of-use assets, net | 9,675 | 3,697 | ||||||
Property and equipment, net | 3,787 | 3,526 | ||||||
Other long term assets | 201 | 212 | ||||||
Goodwill | 335 | 335 | ||||||
Total assets | $ | 33,290 | $ | 26,989 | ||||
Accounts payable and accrued liabilities | $ | 8,308 | $ | 9,495 | ||||
Current portion of operating lease liabilities | 635 | 1,520 | ||||||
Other current liabilities | 234 | 79 | ||||||
Deferred revenue | 9,552 | 8,828 | ||||||
Total current liabilities | 18,729 | 19,922 | ||||||
Non-current operating lease liabilities | 9,886 | 2,992 | ||||||
Other Non-current Liability | 215 | 7 | ||||||
Total liabilities | 28,830 | 22,921 | ||||||
Total stockholders' equity attributable to Champions Oncology, Inc. | 3,893 | 3,939 | ||||||
Non-controlling interest | 567 | 129 | ||||||
Total stockholders' equity | 4,460 | 4,068 | ||||||
Total liabilities and stockholders' equity | $ | 33,290 | $ | 26,989 | ||||
Unaudited Condensed Consolidated Statements of Cash Flows (unaudited)
Three Months Ended July 31, | ||||||||
| 2026 | 2025 | |||||||
Cash flows from operating activities: | ||||||||
Net loss | $ | (426 | ) | $ | (466 | ) | ||
Adjustments to reconcile net loss to net cash (used in) provided by operations: | ||||||||
Stock-based compensation expense | 766 | 208 | ||||||
Operating lease right-of use assets | 268 | 310 | ||||||
Depreciation and amortization expense | 314 | 358 | ||||||
Non-cash interest | 17 | - | ||||||
Loss on disposal of equipment | - | 20 | ||||||
Allowance and estimated credit losses | (10 | ) | (29 | ) | ||||
Changes in operating assets and liabilities | (1,421 | ) | 199 | |||||
Net cash (used in) provided by operating activities | (492 | ) | 600 | |||||
Cash flows from investing activities: | ||||||||
Purchases of property and equipment | (55 | ) | (46 | ) | ||||
Net cash used in investing activities: | (55 | ) | (46 | ) | ||||
Cash flows from financing activities: | ||||||||
Proceeds from the exercise of stock options | 52 | 24 | ||||||
Finance lease payments | (19 | ) | (38 | ) | ||||
Net cash provided by (used in) financing activities: | 33 | (14 | ) | |||||
Net (decrease) increase in cash | (514 | ) | 540 | |||||
Cash at beginning of period | 4,872 | 9,785 | ||||||
Cash at the end of period | $ | 4,358 | $ | 10,325 | ||||
SOURCE: Champions Oncology, Inc.
View the original press release on ACCESS Newswire
FAQ
What drove the improvement in oncology services margin to 51%?
Oncology services margin improved to 51% from 43% primarily due to higher oncology revenue, including increased core research services and data license revenue, and lower third-party radiolabeling costs, which reduced cost of oncology revenue to $7.5 million.
How did Champions Oncology’s operating expenses change compared to the prior-year quarter?
Total costs and operating expenses rose 7.7% to $15.6 million. Research and development expense increased 12.6% to $2.3 million, sales and marketing expense increased 66.6% to $3.1 million due to expansion of the commercial organization, and general and administrative expense increased 4.0% to $2.7 million.
What were the main factors affecting cash flow from operations in the quarter?
Net cash used in operating activities was approximately $492,000, driven primarily by working capital movements, including a decrease in accounts payable and an increase in accounts receivable, alongside non-cash items such as $766,000 of stock-based compensation and $314,000 of depreciation and amortization.