CUREVAC N.V Reports Third Quarter Earnings Results for FY2023
November 20, 2023
🌥️Earnings Overview
CUREVAC N.V ($NASDAQ:CVAC) reported their financial results for the third quarter of the fiscal year 2023, with September 30 2023 as the reference date, on November 14 2023. Total revenue increased by 47.0% year-over-year, amounting to EUR 16.5 million. Net income was EUR -48.7 million, a slight decrease from the figure of -47.6 million in the same quarter of the previous year.
Market Price
The stock opened at $5.7 and closed at the same price, representing an increase of 2.7% from its prior closing price of $5.5. This news was welcomed by investors, as the company had posted losses in the previous quarter. This was mainly attributed to increased research and development expenses, which were up €2 million compared to the same period last year. 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 |
| 42.88 | -302.3 | -707.8% |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for Curevac N.v. More…
| Operations | Investing | Financing |
| -273.37 | -61.73 | 265.6 |
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 |
| 842.57 | 240.3 | 2.69 |
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 |
| -4.8% | – | -687.5% |
| FCF Margin | ROE | ROA |
| -780.8% | -29.4% | -21.9% |
Analysis
At GoodWhale, we analyzed the financial situation of CUREVAC N.V. and according to our Star Chart, CUREVAC N.V. has an intermediate health score of 6/10 with regard to its cashflows and debt, indicating that it may be able to sustain future operations in times of crisis. CUREVAC N.V. is strong in asset management, medium in growth, and weak in dividend and profitability. We have classified CUREVAC N.V. as an ‘elephant’, a type of company that is rich in assets after deducting off liabilities. From this analysis, investors who are looking for a long-term investment option and are not too concerned with dividends and profits may be interested in CUREVAC N.V., as it can provide stability in times of uncertainty and provides a strong asset portfolio. Investors looking for quick returns should look elsewhere, as CUREVAC N.V. is not the best choice for short-term investment gains. 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
Investors interested in CUREVAC N.V have reasons to be optimistic following the third quarter results of FY2023. Total revenue increased by 47.0% year-over-year to EUR 16.5 million, while net income decreased slightly from -47.6 million to -48.7 million. Although the company reported a net loss, the strong revenue growth is a positive sign for investors, indicating that the company is on track to achieving its strategic objectives. Moving forward, investors should continue to monitor the company’s progress to gain a better understanding of its financial performance.
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