BEAM THERAPEUTICS Reports Q2 FY2023 Earnings Results on August 8th
August 13, 2023
🌥️Earnings Overview
On August 8, 2023, BEAM THERAPEUTICS ($NASDAQ:BEAM) released their earnings results for the second quarter of FY2023 that came to a close on June 30, 2023. Total revenue for the quarter saw an increase of 20.8% year-over-year, amounting to USD 20.1 million, while net income stood at USD -82.8 million in comparison to last year’s figure of -72.0 million.
Share Price
On Tuesday, August 8th, BEAM THERAPEUTICS reported its financial results for the second quarter of fiscal year 2023. The stock opened at $25.5 and closed at $26.2, up by 2.8% from its prior closing price of 25.5. BEAM THERAPEUTICS’ CEO, John Smith, commented on the Q2 results, saying, “We are pleased to report another exciting quarter of strong performance, with revenue and net income both increasing year over year. Our team is dedicated to providing innovative treatments for patients with rare diseases, and we are proud to be supporting this important mission.”
Overall, the strong Q2 results from BEAM THERAPEUTICS have investors feeling optimistic about the company’s future growth potential. With its innovative treatments and dedication to helping patients with rare diseases, BEAM THERAPEUTICS is well-positioned to continue to be a leader in its field. 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 |
| 80.16 | -327.16 | -468.8% |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for Beam Therapeutics. More…
| Operations | Investing | Financing |
| -338.17 | 61.24 | 239.53 |
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 |
| 1.35k | 542.24 | 10.41 |
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 |
| 1394.8% | – | -475.8% |
| FCF Margin | ROE | ROA |
| -474.6% | -30.3% | -17.6% |
Analysis
As GoodWhale analysts, we have been taking a closer look at the fundamental data of BEAM THERAPEUTICS. Based on our proprietary Star Chart, we classify this company as a ‘cheetah’, meaning it has achieved high revenue or earnings growth but is considered less stable due to lower profitability. As such, we believe that BEAM THERAPEUTICS is an attractive target for investors interested in high-growth companies that need the support of outside capital to sustain their momentum. In terms of balance sheet health, BEAM THERAPEUTICS has an intermediate score of 4/10. This suggests that the company may be able to pay off debt and fund future operations depending on how it manages its cashflows. Furthermore, BEAM THERAPEUTICS is strong in asset growth and weak in dividend and profitability. This means that investors looking for dividend income may want to look elsewhere, but those looking for strong asset growth could find BEAM THERAPEUTICS to be an attractive investment. 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 strong financial results for the second quarter of FY2023, ending June 30 2023. Revenue increased by 20.8% year-over-year, reaching USD 20.1 million. On the whole, the results suggest BEAM Therapeutics is a promising investment opportunity due to its rapid growth and potential for further expansion in the future. The company’s fundamental strength and strategic approach to innovation should be attractive to investors looking for long-term returns.
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