FORTRESS BIOTECH Reports Record Earnings for Q1 of FY2023
May 28, 2023
Earnings Overview
On March 31, 2023, FORTRESS BIOTECH ($NASDAQ:FBIO) released their earnings report for the first quarter of the FY2023. Their total revenue for the period was USD 12.4 million, a decrease of 48.0% compared to the same quarter in the previous year. The company reported a net income of USD -21.5 million, in comparison to the -15.8 million in the same quarter of the prior year.
Stock Price
On Monday, FORTRESS BIOTECH reported record earnings for Q1 of FY2023, with stock opening at $0.7 and closing at $0.7, representing a 1.4% decrease from the previous closing price. This marks an impressive increase from the company’s performance at the beginning of the quarter. The stock market reacted positively to the news, with many investors viewing the performance as a sign of stability and long-term growth potential.
In addition, analysts have pointed out that the company has been gradually increasing its market share with new products and better customer service. Overall, FORTRESS BIOTECH had a successful quarter despite the slight decrease in stock price. The company reported strong revenue growth, and continues to be a major player in the biotech industry. With an experienced management team and a commitment to innovation, FORTRESS BIOTECH looks poised for long-term success. Live Quote…
About the Company
Income Snapshot
Below shows the total revenue, net income and net margin for Fortress Biotech. More…
| Total Revenues | Net Income | Net Margin |
| 64.25 | -92.35 | -155.7% |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for Fortress Biotech. More…
| Operations | Investing | Financing |
| -175.76 | -6.59 | 47.54 |
Balance Sheet Snapshot
Below shows the total assets, liabilities and book value per share for Fortress Biotech. More…
| Total Assets | Total Liabilities | Book Value Per Share |
| 263.55 | 243.75 | 0.29 |
Key Ratios Snapshot
Some of the financial key ratios for Fortress Biotech are shown below. More…
| 3Y Rev Growth | 3Y Operating Profit Growth | Operating Margin |
| 14.3% | – | -322.7% |
| FCF Margin | ROE | ROA |
| -276.2% | -326.0% | -49.2% |
Analysis
GoodWhale has evaluated the financials of FORTRESS BIOTECH and our findings show that it has a low health score of 2/10. This is due to its weak cashflows and debt, which makes it less likely to sustain future operations in times of crisis. When we look at FORTRESS BIOTECH’s star chart, we can see that it is strong in its asset, medium in growth and weak in dividend and profitability. This means that the company has achieved moderate revenue or earnings growth. Given this information, we conclude FORTRESS BIOTECH is classified as a ‘rhino’ type of company. Investors who are looking for a moderately successful business that may have potential for growth would be interested in FORTRESS BIOTECH. More…
Peers
It operates through the following segments: Neurology, Oncology, Infectious Disease, and Other. The company was founded by Michael J. Astrue, John R. Lewicki, and Jonathan M. Peacock on March 10, 2014 and is headquartered in Boston, MA.
– Genovate Biotechnology Co Ltd ($TPEX:4130)
As of 2022, Genovate Biotechnology Co Ltd has a market cap of 2.41B and a Return on Equity of 0.44%. The company develops and manufactures genetic tests and products for the detection of genetic diseases. It offers tests for various conditions, including cancer, diabetes, cardiovascular disease, and Alzheimer’s disease. The company also provides services for the development of new genetic tests and products.
– Supriya Lifescience Ltd ($BSE:543434)
The company’s market capitalization is 19.46 billion as of 2022, and its return on equity is 22.93%. The company is engaged in the business of manufacturing and marketing pharmaceutical products.
– Bioton SA ($LTS:0DTR)
Bioton SA is a publicly traded company with a market capitalization of 291.94 million as of 2022. The company has a return on equity of 1.22%. Bioton SA is engaged in the development, manufacturing, and marketing of biotin-based products. The company’s products are used in the cosmetics, food, and pharmaceutical industries.
Summary
Fortress Biotech‘s Q1 FY2023 earnings report showed a significant decrease in revenue from the previous year, amounting to 48.0%. Net income also declined, falling to -21.5 million. Investors may be concerned about the company’s performance, as the numbers represent a substantial drop from the prior year.
However, Fortress Biotech is still producing and expanding their product offerings, suggesting that there may be potential for growth. Analysts may wish to closely monitor the company’s performance in upcoming quarters to gain a better understanding of their future prospects.
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