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Lifecore Biomedical Q3 revenue misses estimates as CDMO, HA sales decline

By Reuters News


Overview

  • U.S. injectables CDMO's Q3 revenue fell 19% yr/yr, missing analyst expectations

  • Company posted a wider net loss yr/yr

  • Multiple new business wins expected to support long-term revenue growth


Outlook

  • Lifecore expects new business wins to contribute to revenue growth starting in 2027

  • Company secured three new development-phase programs early in the fourth quarter


Result Drivers

  • NEW BUSINESS WINS - Co secured two technology transfer projects in Q3 and three new development-phase programs early in Q4, expected to support long-term revenue growth

  • DECLINING CDMO AND HA REVENUE - CDMO and HA manufacturing revenue dropped 18% and 19% yr/yr, respectively, contributing to overall revenue decline

  • LOWER OPERATING EXPENSES - Operating expenses fell 29% yr/yr, driven by reductions in research and development and selling, general and administrative costs


Company press release:


Key Details

Metric

Beat/Miss

Actual

Consensus Estimate

Q3 Revenue

Miss

$25.30 mln

$26.70 mln (5 Analysts)

Q3 Net Loss

$40.10 mln


Analyst Coverage

  • The current average analyst rating on the shares is "hold" and the breakdown of recommendations is no "strong buy" or "buy", 5 "hold" and no "sell" or "strong sell"

  • The average consensus recommendation for the pharmaceuticals peer group is "buy."

  • Wall Street's median 12-month price target for Lifecore Biomedical, Inc. is $5.64, about 12.1% below its November 3 closing price of $6.42


Reuters Recommended Reads

  • Nov 3 - Sotera Health Q3 revenue beats estimates on pricing and volume

  • Nov 3 - Strata Critical Medical Q3 revenue beats estimates; announces buyback

  • Nov 3 - Madrigal Q3 Rezdiffra sales jump on strong demand, posts first profit


For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.


(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)

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