Avid Bioservices, Inc. (NASDAQ:CDMO) Q1 2025 Earnings Conference Call September 9, 2024 4:30 PM ET

Company Participants

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

Conference Call Participants

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

Operator

Good day and thank you for standing by. Welcome to the Avid Bioservices First Quarter Fiscal Year 2025 Financial Results Conference Call. [Operator Instructions] Please be advised that today's conference is being recorded.

I would now like to turn the conference over to your speaker for today. Tim, 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, 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, September 9, 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 a discussion of certain non-GAAP information. You can find our earnings press release, including relevant non-GAAP reconciliations on our corporate website, 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.

Building on the momentum from quarter four fiscal '25 is off to a good start and we are delighted to be reporting what I can only describe as a solid first quarter. We are encouraged by the strong revenues and new business signings which continue to build our backlog and improve our margins. Matt and I will provide additional details on business development and operations for the period following an overview of our first quarter fiscal '25 financial results.