XBIOTECH INC Reports 100% Decrease in Q2 Earnings for FY2023
August 17, 2023
🌥️Earnings Overview
On August 11 2023, XBIOTECH INC ($NASDAQ:XBIT) reported their FY2023 Q2 earnings results, which showed total revenue of USD 0.0 million, a decrease of 100.0% compared to the same period last year. Furthermore, the net income for the quarter was reported at USD -8.7 million, down from the USD -11.6 million reported in the prior year’s Q2.
Analysis
GoodWhale conducted an analysis of XBIOTECH INC‘s wellbeing and found that according to Star Chart XBIOTECH INC is strong in asset, medium in growth and weak in dividend, profitability. After considering cashflows and debt, XBIOTECH INC has an intermediate health score of 5/10 which may be enough to sustain future operations in times of financial hardship. XBIOTECH INC is classified as an ‘elephant’, a type of company that is rich in assets after taking liabilities out of the picture. This type of company may be of interest to certain types of investors. Those who are looking for an established company with a strong asset base may find XBIOTECH INC to be an attractive prospect. On the other hand, investors looking for high growth potential may not find XBIOTECH INC appealing due to its weak dividend and profitability. Ultimately, the decision to invest in XBIOTECH INC will come down to the individual investor’s preferences and goals. More…
About the Company
Income Snapshot
Below shows the total revenue, net income and net margin for Xbiotech Inc. More…
| Total Revenues | Net Income | Net Margin |
| 1.98 | -28.42 | -1432.3% |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for Xbiotech Inc. More…
| Operations | Investing | Financing |
| -18.12 | -63.86 | -0.01 |
Balance Sheet Snapshot
Below shows the total assets, liabilities and book value per share for Xbiotech Inc. More…
| Total Assets | Total Liabilities | Book Value Per Share |
| 235.14 | 6.07 | 7.53 |
Key Ratios Snapshot
Some of the financial key ratios for Xbiotech Inc are shown below. More…
| 3Y Rev Growth | 3Y Operating Profit Growth | Operating Margin |
| -58.7% | – | -1765.3% |
| FCF Margin | ROE | ROA |
| -943.2% | -9.4% | -9.3% |
Peers
The company was founded in 2006 and is headquartered in Austin, Texas. Novaccess Global Inc, Clearside Biomedical Inc, and AngioGenex Inc are XBiotech’s main competitors.
– Novaccess Global Inc ($OTCPK:XSNX)
NovaAccess Global Inc is a Canadian company that provides software and services to the telecommunications industry. Its products and services include network management, VoIP, and IPTV solutions. The company has a market capitalization of $3.71 million and a return on equity of 0.71%.
– Clearside Biomedical Inc ($NASDAQ:CLSD)
Clearside Biomedical is a clinical-stage biopharmaceutical company focused on developing and delivering treatments that restore and preserve vision for people with serious eye diseases. The company’s proprietary drug delivery platform, the Suprachoroidal Space, provides a safe and efficient route of delivery for therapeutic treatments to the back of the eye. Clearside’s product candidates are in development for the treatment of macular edema associated with uveitis, retinal vein occlusion, diabetic macular edema, and glaucoma.
Clearside Biomedical’s market cap as of 2022 is 80.05M. The company’s ROE as of the same year is -3.65%.
– AngioGenex Inc ($OTCPK:AGGX)
The company’s market cap is 7.6M as of 2022. The company’s ROE is 51.11%. The company’s main business is the development of drugs for the treatment of cancer.
Summary
XBIOTECH INC reported their FY2023 Q2 earnings results on August 11, 2023. Total revenue was USD 0.0 million, representing a 100.0% decrease from same period last year. Net income was reported at USD -8.7 million, a decrease from the USD -11.6 million reported in same quarter of prior year. Investors should be cautious when considering an investment in XBIOTECH INC due to the negative financial outlook.
The company needs to find new sources of revenue and reduce expenses to become profitable again. It may also be wise to wait and watch their financial performance for the coming quarters to assess if a long-term investment is worthwhile.
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