Avid Bioservices, Inc. (NASDAQ:CDMO) Q4 2023 Earnings Conference Call June 21, 2023 4:30 PM ET
Company Participants
Tim Brons - Investor Relations
Nick Green - President and CEO
Dan Hart - Chief Financial Officer
Matt Kwietniak - Chief Commercial Officer
Conference Call Participants
Matt Hewitt - Craig-Hallum
Paul Knight - KeyBanc Capital
Jacob Johnson - Stephens
Thomas Kelliher - RBC Capital Market
Operator
Good day, ladies, and gentlemen, and welcome to the Avid Bioservices Fourth Quarter and Year-End Fiscal 2023 Financial Results Conference Call. At this time, all participants are in a listen-only mode. Later, we will conduct a question-and-answer session and instructions will follow at that time. As a reminder, this conference call may be recorded.
I would now like to turn the conference over to Tim Brons of Abbott Investor Relations Group. Please go ahead.
Tim Brons
Thank you. Good afternoon and thank you for joining us. On today's call, we have Nick Green, President, and CEO; Dan Hart, Chief Financial Officer; and Matt Kwietniak, Avid's Chief Commercial Officer.
Today, we will be providing an overview of Avid Bioservices contract development and manufacturing business, including updates on corporate activities and financial results for the quarter and year ended April 30, 2023. After our prepared remarks, we will welcome your questions.
Before we begin, I'd like to caution that comments made during this conference call today, June 21st, 2023 will contain certain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, concerning the current belief of the company, which involves a number of assumptions, risks, and uncertainties. Actual results could differ from these statements and the company undertakes no obligation to revise or update any statement made today. I encourage you to review all the Company's filings with the Securities and Exchange Commission concerning these and other matters.
Our earnings press release and this call will include discussion of certain non-GAAP information, you can find our earnings press release, including relevant non-GAAP reconciliations on our corporate website at avidbio.com.
With that, I will turn the call over to Nick Green, Avid's President, and CEO.
Nick Green
Thank you, Tim and thank you to everybody participating today via webcast. Both the fourth quarter and 2023 full fiscal year were record setting for the company. As we achieved record high revenues during both periods and ended the fiscal year with a record high backlog of $191 million, a 25% increase over last year.