CUREVAC N.V Reports Q2 Earnings for FY2023
August 31, 2023
🌥️Earnings Overview
On June 30th 2023, CUREVAC N.V ($NASDAQ:CVAC) reported their Q2 earnings results for the second quarter of FY2023. Total revenue for the quarter was EUR 7.6 million, a decrease of 62.4% compared to the same quarter the year before. Net income for the quarter was EUR -67.4 million, a decrease from the figure for the same quarter in the preceding year of -57.6 million.
Share Price
CUREVAC N.V reported its earnings for the second quarter of fiscal year 2023 on Thursday. The stock opened at $9.1, however, it closed the day at $8.6, reflecting a drop of 8.1% from the last closing price of $9.4. The stock had previously traded higher in the preceding month, however, investors were wary of the company’s financial performance in the coming quarters. Despite these positive results, the stock price dropped on concerns of future performance.
Analysts have noted that the company has seen a decline in sales in recent quarters and may be facing tough competition in the industry. Investors are now looking for CUREVAC N.V to report better financials in the next quarter and maintain a healthy performance throughout fiscal year 2023. The company has also been focusing on new product launches and expanding its customer base to prop up its revenue growth. Live Quote…
About the Company
Income Snapshot
Below shows the total revenue, net income and net margin for Curevac N.v. More…
| Total Revenues | Net Income | Net Margin |
| 37.61 | -301.19 | -803.4% |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for Curevac N.v. More…
| Operations | Investing | Financing |
| -248.7 | -76.15 | 293.28 |
Balance Sheet Snapshot
Below shows the total assets, liabilities and book value per share for Curevac N.v. More…
| Total Assets | Total Liabilities | Book Value Per Share |
| 899.48 | 250.43 | 2.9 |
Key Ratios Snapshot
Some of the financial key ratios for Curevac N.v are shown below. More…
| 3Y Rev Growth | 3Y Operating Profit Growth | Operating Margin |
| 57.0% | – | -790.5% |
| FCF Margin | ROE | ROA |
| -863.0% | -27.3% | -20.7% |
Analysis
GoodWhale’s Star Chart shows that CUREVAC N.V is strong in asset and growth, and weak in dividend and profitability. Further, its health score is 6/10, which means that the company is likely to pay off debt and fund future operations with its cashflows and debt conditions. According to GoodWhale’s classification of companies, CUREVAC N.V. falls under the ‘rhino’ label. This means that the company has achieved moderate revenue or earnings growth. These are the type of companies that investors who are looking for steady performance and stability would be interested in investing in. More…
Peers
The race to develop a coronavirus vaccine is heating up, with CureVac NV joining Moderna Inc, BioNTech SE, and Novavax Inc in the race to create a working vaccine. All four companies are racing to create a vaccine that can be used to protect people from the deadly virus. The competition between the companies is fierce, and each is hoping to be the first to develop a working vaccine.
– Moderna Inc ($NASDAQ:MRNA)
Moderna Inc is a clinical stage biotechnology company that focuses on the discovery, development, and commercialization of therapeutics and vaccines based on messenger RNA (mRNA). As of 2022, Moderna has a market capitalization of $60.86 billion and a return on equity of 55.93%. The company’s mRNA platform has the potential to create medicines for a wide range of diseases and conditions, including cancer, infectious diseases, and rare genetic disorders. Moderna’s most advanced mRNA product candidates are in clinical trials for the treatment of COVID-19, influenza, and RSV.
– BioNTech SE ($NASDAQ:BNTX)
As of 2022, BioNTech SE has a market cap of 37.45B and a Return on Equity of 63.88%. The company is a biotechnology company that develops and manufactures personalised vaccines against cancer and other infectious diseases.
– Novavax Inc ($NASDAQ:NVAX)
Novavax Inc is a clinical-stage vaccine company committed to delivering novel products to prevent a broad range of infectious diseases. The company has a market cap of 1.52B as of 2022 and a ROE of 507.51%. Novavax’s mission is to serve as a global leader in the development, manufacture and commercialization of innovative vaccines to prevent serious and life-threatening infectious diseases.
Summary
CUREVAC N.V reported their FY2023 Q2 earnings results for the second quarter on June 30th 2023, revealing a decrease of 62.4% in total revenue year-over-year and a decrease of 57.6% in net income year-over-year. This news caused the stock to fall the same day, indicating that investors are not optimistic about the company’s performance. Investors should consider these results and future projections before investing in CUREVAC N.V.
