Avid Bioservices, Inc. (NASDAQ:CDMO) Q1 2023 Earnings Conference Call September 6, 2022 4:30 PM ET
Company Participants
Tim Brons - Investor Relations
Nick Green - President and Chief Executive Officer
Dan Hart - Chief Financial Officer
Matt Kwietniak - Chief Commercial Officer
Conference Call Participants
Thomas Kelliher - RBC Capital Markets
Jacob Johnson - Stephens
Matt Hewitt - Craig-Hallum
Paul Knight - KeyBanc
Operator
Good day, ladies and gentlemen. Welcome to the Avid Bioservices First Quarter Fiscal 2023 Financial Results Conference Call. [Operator Instructions] As a reminder, this call maybe recorded. I would now like to hand the conference over to Tim Brons of Avid 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 ended July 31, 2022. 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, September 6, 2022, 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 of 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 everyone who has dialed in and to those who are participating today via webcast. I am pleased to report that the momentum and growth achieved during fiscal ‘22 continued into the first quarter of fiscal ‘23. During the period, we achieved the highest quarterly revenue in the company’s history. In connection with this achievement, our commercial team had another exceptional quarter, signing multiple new project agreements and as a result, pushed our backlog to a new record level.