BEAM THERAPEUTICS Reports 17.2 Million in Total Revenue and Net Loss of 96.1 Million for Q3 of FY2023
November 20, 2023
🌧️Earnings Overview
For the third quarter of FY2023 ending September 30 2023, BEAM THERAPEUTICS ($NASDAQ:BEAM) reported total revenue of USD 17.2 million and a net income of USD -96.1 million, a 8.8% year-on-year rise in revenue and a 12.5% year-on-year drop in net income compared to the same period in the preceding year.
Market Price
On Wednesday, BEAM THERAPEUTICS reported their financial results for the third quarter of FY2023. The news caused investors to be cautious and take a step back due to the high net losses, resulting in the decrease in stock prices. Live Quote…
About the Company
Income Snapshot
Below shows the total revenue, net income and net margin for Beam Therapeutics. More…
| Total Revenues | Net Income | Net Margin |
| 81.55 | -313.67 | -426.7% |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for Beam Therapeutics. More…
| Operations | Investing | Financing |
| -353.46 | 87.18 | 274.75 |
Balance Sheet Snapshot
Below shows the total assets, liabilities and book value per share for Beam Therapeutics. More…
| Total Assets | Total Liabilities | Book Value Per Share |
| 1.29k | 511.59 | 9.59 |
Key Ratios Snapshot
Some of the financial key ratios for Beam Therapeutics are shown below. More…
| 3Y Rev Growth | 3Y Operating Profit Growth | Operating Margin |
| 1403.4% | – | -488.4% |
| FCF Margin | ROE | ROA |
| -480.5% | -31.3% | -19.3% |
Analysis
GoodWhale recently performed an analysis of BEAM THERAPEUTICS‘s wellbeing. According to our Star Chart research, BEAM THERAPEUTICS has an intermediate health score of 4/10 with regard to its cashflows and debt, implying that it might be able to safely ride out any crisis without the risk of bankruptcy. In regards to its financial health, BEAM THERAPEUTICS is strong in asset, growth, and weak in dividend, profitability. We also classify BEAM THERAPEUTICS as a ‘rhino’, a type of company we conclude that has achieved moderate revenue or earnings growth. Given the company’s current financial performance, investors who wish to take a long-term approach may be interested in BEAM THERAPEUTICS. This is because the company has a relatively healthy balance sheet and has achieved stable growth over time. Investors who want to benefit from any potential capital gains in the future may also be interested in this company. More…
Peers
The company’s competitors include CRISPR Therapeutics AG, Intellia Therapeutics Inc, and Editas Medicine Inc.
– CRISPR Therapeutics AG ($NASDAQ:CRSP)
CRISPR Therapeutics AG is a biopharmaceutical company that focuses on the development of CRISPR-based therapeutics. The company has a market cap of $3.97 billion as of 2022 and a return on equity of -17.54%. The company’s primary focus is on the treatment of genetic diseases, but it is also investigating the use of CRISPR-based therapies for cancer and infectious diseases.
– Intellia Therapeutics Inc ($NASDAQ:NTLA)
Intellia Therapeutics Inc is a clinical-stage biopharmaceutical company, which engages in the development of therapeutics utilizing a proprietary technology platform to edit genes. The company was founded by Nessan Bermingham, Jennifer Doudna, and Andrew Philip Gregory in May 2014 and is headquartered in Cambridge, MA.
– Editas Medicine Inc ($NASDAQ:EDIT)
Editas Medicine Inc is a biotechnology company based in the United States which focuses on developing CRISPR-based genome editing treatments. As of December 2020, the company’s market capitalization was $806.98 million and its ROE was -23.75%. The company’s focus on developing CRISPR-based therapies puts it at the cutting edge of the biotech industry and gives it good potential for future growth. However, the company’s negative ROE indicates that it is not yet profitable and may be a risky investment.
Summary
Beam Therapeutics reported its financial results for Q3 FY2023, showing total revenue of USD 17.2 million and net income of USD -96.1 million. This indicates a 8.8% increase in revenue and a 12.5% decrease in net income on a year-over-year basis. As a result, the stock price dropped on the same day.
For investors, it is important to take into consideration Beam Therapeutics’ financial performance when making investment decisions. As such, they should consider the company’s long-term prospects and financial stability before investing in this stock.
Related Posts
Recent Posts
