Avid Bioservices, Inc. (NASDAQ:CDMO) Q4 2024 Earnings Conference Call July 2, 2024 4:30 PM ET

Company Participants

Tim Brons - IR, Vida Strategic Partners
Nick Green - President & CEO
Dan Hart - CFO
Matt Kwietniak - Chief Commercial Officer

Conference Call Participants

Sean Dodge - RBC Capital
Jacob Johnson - Stephens
Paul Knight - KeyBanc
Matt Hewitt - Craig-Hallum Capital Group
Max Smock - William Blair

Operator

Thank you for standing by, and welcome to the Avid Bioservices Fourth Quarter Fiscal Year 2024 Financial Results Conference Call. At this time, all participants are in a listen-only mode. After the speakers’ presentation, there will be a question-and-answer session. [Operator Instructions] As a reminder, today's program is being recorded.

And now, I'd like to introduce your host for today's program, Tim Brons, Avid's Investor Relations. Please go ahead, sir.

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 fiscal year ended April 30, 2024. 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, July 2, 2024 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 includes 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 participating today via webcast. The fourth quarter of fiscal 2024 was a high point for the company. We generated the highest quarterly revenues in Avid's history, meeting our current revenue expectations for the year. We also signed multiple new project agreements and we continue to see positive signs in the broader business environment, which bodes well for the business development in the year ahead.